Head of Property and Reinsurance Lead

  • 37880
  • Non-Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • Aug 5, 2020
Insurance
RESPONSIBILITIES
  • Monitor the North American market and drive overall portfolio of risk segments to gain the optimum mix.
  • Lead all insurance-related risk for all of North America including, but not limited to, concentration of risk, risk segment, natural disasters and reinsurance.
  • Drive company Commercial Lines and Global Corporate & Specialty underwriting policy procedures and governance.
  • Support and deliver deep understanding of Global Corporate & Specialty performance issues at class/segment and channel level to direct action, influence priorities and find opportunities and threats to underwriting performance.
  • Drive performance of the overall portfolio of risk segments to gain the optimum mix.
  • Implement and maintain the underwriting perception as aligned with the underwriting vision and strategy of the Global Corporate & Specialty Business Heads.
  • Handle aggregations of risk and ensure aligned reinsurance purchase.
  • Transform the audit and governance strategy to support growth agenda.
  • Set line of business underwriting philosophy, standards, risk appetite, technical wordings, and drive improvement opportunities in the likes of wordings, processes, pricing or strategy.
  • Support the annual planning process by providing technical and qualitative input.
  • Support regulatory compliance with regular attestation and evidencing.
  • Ensure the skills of the CTU, GCS Underwriting and Reinsurance teams remain ground-breaking.
  • Lead regulatory and compliance programs related to role.
  • Ensure that appropriate audit controls exist for data that serve as the source material for regulatory reports.
  • Ensure that business reports derived from controlled data are consistent and representative of the true state of the business.
  • Ensuring that there is an appropriate culture in place and encourage alignment with the requirements.
  • Understand and champion the Group’s Risk Management Framework, including all Risk Policies and linked Business Standards; reporting, critical issue and governance processes.
  • Maintaining effective and efficient risk management and internal control systems, in line with agreed risk appetite. Where vital directing action plans to resolve ineffective controls and bring associated risks within appetite including outsourced arrangements.
  • Identify, own, and lead specific key risks and/or key controls that you are identified.
  • Maintain appropriate records and ensure that controls are sufficiently well designed and operating optimal to keep the risks that they mitigate within company's tolerance level.
  • Report and advance the status of the relevant risks and controls as appropriate.
  • Report on Loss Events identified in, or by, your area of responsibility to the Risk Management Team in a timely manner.
  • Investigate Loss Events in your area and ensure appropriate remediation is carried out to prevent recurrence.
  • Consider key risks and risk appetite during decision making & planning to ensure changes do not expose the business to unacceptable levels of risk.
QUALIFICATIONS
  • Undergraduate degree in business, mathematics, statistics, economics, finance, or other related field and equivalent experience.
  • FCIP, FCAS, FCIA and/or equivalent designation is required.
  • Experience in Technical Underwriting and Reinsurance, ideally with a background in Property and Catastrophe underwriting.
  • Knowledge of regulatory environment and provincial rate filing requirements.
  • Knowledge of advanced segmentation techniques.
  • Proven project management capabilities and strong analytical skills.
  • An understanding of finance, economics, accounting, investment and insurance principles.
  • Understanding of risks faced by business and the controls to manage and mitigate the risks.
  • Understanding of Reinsurance market.
  • Understanding of exposures management.
  • Ability to think long term strategically and operationally.
  • Budgetary control.
  • The ability to recruit, develop and retain an outstanding team of professionals in order to achieve target performance and growth objectives.
  • The ability to generate energy in others and to encourage teams to achieve business goals.
  • A high degree of humility, integrity and personal pride in doing what is right.
  • Strong analytical skills and the ability to work closely with other senior executives in the development and implementation of creative and strategic ideas.
  • Ability to identify key priorities and problems, acquire relevant information, identify root causes and generate alternative solutions to reach sound management decisions.
  • The clear ability to fit into the company team and to work efficiently with other executives in the development of all strategic and operational plans, activities and initiatives.
  • 10-15 years of relevant technical experience in underwriting, pricing, reinsurance including proven experience in commercial insurance.
  • Ability to work collaboratively across the organization, in a matrix structure, and lead a technical team.