General Description:
The Director of Reserving and Risk Management provides oversight and direction to the Reserving and Risk Management departments of Once Alliance North America. The primary responsibilities of this position include ensuring the company goals are achieved with respect to reinsurance placement and analysis, reserve adequacy, capacity allocation and aggregate management, data quality and statistics, and catastrophe rate adequacy.
Essential Duties and Responsibilities:
Communicate regularly with reinsurance broker in conducting management of overall reinsurance program, including reinsurer requests, reinsurance budget and allocation calculations, and attend reinsurance meetings as needed.
Conduct reinsurance negotiations. Manages Property and Casualty re-insurance programs.
Provide Risk Assessment, which involves analyzing risk with criteria established by the organization such as cost, accumulation of exposure, and evaluating the organization's previous handling of risk.
Ensure the results of catastrophe modeling performed in house agrees with like modeling exercises from our reinsurance broker.
Prepare and deliver operational and risk reports for Executive Management as necessary based upon individual state requirements that One Alliance North America works with.
Ensure the team is accurately reporting to stakeholders and other regulatory or rating agencies for all data requests and regulatory data calls.
Work with accounting, external actuaries, and auditors to provide accurate data, provide reconciliations and assist with calculations, resolve discrepancies and assist in any way necessary to assist in the completion of accurate financial statements with the Statement of Actuarial Opinion provided by the Appointed Actuary.
Quantify the organization's risk appetite and suggest strategic changes as appropriate.
Co- lead with accounting, the annual budget and reforecast process in its entirety.
Complete IBNR analysis each quarter on a gross and a net reserve basis.
Lead actuarial and risk management departmental employees providing development opportunities to complete succession planning
Ensure the loss ratio ultimate derived through the quarterly IBNR procedures are utilized in any performance metrics for the company until a new valuation is performed.
Perform other duties as requested.
Supplemental Information:
This job description has been prepared to indicate the general nature and level of the work that the employees perform within their classification. This description is not and cannot be interpreted as an inventory of all the duties, tasks, responsibilities, and qualifications required for the employees assigned to this job.
Education and Experience:
A Bachelor's degree in actuarial science, mathematics, risk management or a related field.
and a combined minimum of ten (10) years of experience within the property and casualty risk management and actuarial reserving field.
Management or leadership experience within risk management or reserving for a property and casualty insurer.
Excellent proficiency SQL and with Microsoft Office programs, to include Excel, Word, and PowerPoint.
Leadership abilities, self-motivation, and accountability with the ability to work both independently and with teams. Supervisory experience preferred.
Outstanding public speaking, presentation and written communication skills required.
Mathematics and analytic skills; close familiarity and proven past use with catastrophe modeling applications and reinsurance structures.
High level of proficiency with Catastrophe Modeling software applications and general property and casualty insurance knowledge.
Licenses and/or Certifications:
Associate in Risk Management, or courses towards CPCU not required, but strongly preferred.
