Assistant VP, Treaty Manager
8 - 10 years experience • Insurance
Insurance for insurance companies. That's a simple way to describe a complex business. We're shock absorbers for our clients. Without insurance, individuals and businesses would find it difficult to recover financially when disaster strikes. Without reinsurance, insurers simply couldn't offer this peace of mind.
Are you ready to shift your career to the next level? Munich Re, US (Life) aspires to be the premier reinsurance business partner that delivers exceptional value to our clients and stakeholders. As the US-based life subsidiary of one of the world's largest reinsurance companies, we are the industry leader in delivering world-class service and solutions to many of the most recognized insurance companies around the globe. We offer a highly competitive total compensation package that rewards hard work and success.
Munich Re, US (Life) is currently seeking an Assistant Vice President, Treaty Manager. This position is responsible for all reinsurance treaties between Munich Re, US (Life) and its clients, including all individual life, living benefits and group clients. Responsibilities include drafting, negotiating and executing the reinsurance treaties that represent our core business. It also includes the management of a team of four treaty associates.
•Drafting of all treaties and negotiating of non-financial terms in all of MARC’s reinsurance agreements with its clients. This accountability includes the management of the overall process and the development and implementation of metrics and a framework to track treaty workflow and status to ensure time standards are adhered to for treaty delivery and execution. Assure timely, professional response to client inquiries and requests. Provide direction, training and support to 4 direct reports to ensure strong skills, growth and consistency in approach.
•Accountable for negotiating treaty wordings (within the Treaty Department’s authority) acceptable to company and its clients. Examples of treaty wordings outside the Treaty Department’s authority include recapture formulas. Personally draft the more complex reinsurance treaty arrangements. Visit clients or prospects with marketing staff as needed.
•Establish a strategy to maintain standard contractlanguage that is state of the art for the industry, legally sound and defensible and in compliance with Munich Re guidelines. Perform research and analysis of competitor treaties and industry articles to identify trends and new developments. Monitor regulatory trends and industry responses to regulatory changes which may impact our treaty wordings or interpretation thereof.
•Management of Munich Re, US (Life)’s retrocession agreements with its external retrocessionaires. This accountability includes drafting, negotiation and execution of termination and recapture notices and other treaty amendments . It also includes interpretation of these retrocession agreement when questions or issues arise.
•8+ years experience in individual life insurance and/or reinsurance required.
•Knowledge of insurance life insurance and living benefits products.
•In-depth knowledge of life and living benefits reinsurance contractlanguage. Skilled in reading and interpreting contractlanguage.
•Understanding of regulatory environment at state and federal level as it impacts treaty provisions.
Compensation info: + 20% bonus
- Skills:treaty drafting and negotiating, 8+ years experience in individual life insurance and/or reinsurance required., management experience
- Relocation assistance:Yes