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JOB SUMMARY: Leads activities related to enterprise risk management or ceded reinsurance policies and procedures. Leads activities related to insurance and reinsurance program design, placement, administration, insurance and/or reinsurance claims recovery, reinsurance accounting and risk mitigation. Provides consultation and advanced solutions to enterprise senior management on complex risk management, insurance and reinsurance recovery issues. Note-associates in this classification may specialize in corporate riskmanagement, ceded reinsurance, reinsurance accounting, or reinsurance claims recovery.
REPORTING RELATIONSHIPS: Reports to Manager/Director/Sr Director
CORE JOB DUTIES & RESPONSIBILITIES:
Provides consultation and supports the design, evaluation and implementation of insurance, reinsurance and/or alternative risk transfer programs, both ceded and assumed, negotiating rates and contract terms. Serves as business unit technical subject matter expert for reinsurance facing systems and applications, including internal data extractions and analysis.
Provides leadership on an enterprise insurance or ceded reinsurance claims administration and recovery operation, ensuring accurate, timely and complete communications with insurers, reinsurance and brokers in accord with contract requirements and in collaboration with enterprise business units and staff offices.
Assist in producing or verifying data and exhibits required for risk transfer or recovery submissions. Assists in Facultative reinsurance processing and accounting.
Coordinates a reinsurance claims recovery process, including communications with brokers and reinsurers in accordance with contract requirements. Advises on contract language interpretation for recovery application. Coordinates compliance with company accounting and reporting standards, under strict guidelines.
Partners on process improvements initiatives. Develops and maintains corporate risk management or reinsurance policies and procedures to assure efficient and effective best practices. Provides analysis and support for risk transfer decisions including structure, pricing and cost allocations.
Conducts and leads activities regarding the planning, development and implementation of risk and loss prevention controls to ensure accurate claims handling, safety compliance, and risk management analysis. Coordinates preparation & review of risk transfer and recovery reports, May review other associates' work for data accuracy and technical resolutions.
Leads recovery coordination, development and presentation of reinsurance claims training. Supports the development and maintenance of insurance and reinsurance claims reporting guidelines and communications to enterprise claims staff.
Coordinates the establishment of enterprise security standards and evaluation of insurer and reinsurance security and performance. Coordinates the design, development, implementation, maintenance and administration of the corporate risk management and reinsurance information database in collaboration with FIT.
Responsible for contact with internal and external customers or stakeholders, maintaining, developing and influencing relationships involving all enterprise business and staff offices, vendor systems, customer training, insurers, reinsurers and brokers.
Responsible for administration of risk transfer attestation process or recovery requirements, including the interaction with internal/external auditors. Provides responses to documentation requests from rating agencies and regulatory interrogatory exams and surveys. Provides consultation on accurate ceding set-up, systems, programs, projects and enhancements. Leads projects relating to placements, recoveries, systems, or enhancements.
Negotiates insurance and reinsurance placements, including costs, terms, and conditions of coverage. Negotiates the recovery of reinsurance recoverables or the arbitration, litigation or commutation of reinsurance claims. Supports the claims responsibilities for appropriate insurance programs.
Responsible for contract negotiation and management of third party administrators. Manages loss mitigation work and activity with Associate Health Services, Safety and Facility management or other business unit as requested to reduce enterprise losses.
Assists in the development and attainment of team and department strategies, plans and objectives.
Manages risk management and reinsurance projects. Recommends project requirements, timelines, resources and budget. Consults on special projects and requests.
Performs other related duties as assigned.
MINIMUM JOB REQUIREMENTS:
Education: Undergraduate studies in business administration, finance, accounting or a related field preferred.
License/Certification/Designation: Pursuit or attainment of insurance related designations such as CPCU, CLU, ARM, ARe preferred.
Experience: Eight years experience in risk management, property and casualty reinsurance underwriting, or property and casualty claims or accounting. Project management experience is preferred.
Knowledge: Proven knowledge of risk management, insurance or ceded reinsurance practices. Must have a thorough understanding of property, casualty, life, accident and health insurance coverages. Also various insurance or reinsurance related accounting and finance practices, concepts, techniques. Has a good understanding of legal, actuarial, financial, sales, underwriting and claims policies and practices as they relate to the insurance or reinsurance function.
Skills/Competencies: Strong analytical, technical and verbal/written communication abilities. Ability to manage complex technical insurance/reinsurance issues. Ability to negotiate and mediate claims or contract disputes. Strong decision-making ability and project management skills.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Staffing Exceptions to the above Minimum Job Requirements must be approved by the: hiring manager’s leader and HRBP.
Overtime Eligibility: Not Eligible (Exempt)