A dedicated technical expert who is responsible for analyzing, developing, and monitoring the facultative purchasing strategy, reinsurance partner relationships and systems (eRe) product owner across the organization.
Open on location for the right candidate with mult-line Fac or mult-line commercial lines experience that includes Fac insurance purchasing and placement.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
1. Analyze existing facultative reinsurance trends across the various lines of business to ensure consistency with underwriting strategy with a focus on ceded spend, ceded loss ratios, and purchasing trends.
2. Partners with the underwriting units to develop, refine, or adjust the facultative purchasing strategies and facilitates the implementation of the new and/or revised purchasing guidelines.
3. Supports underwriting operations during facultative purchasing process by providing guidance on preferred reinsurance structure, reinsurance companies, and general market knowledge.
4. Manages relationships with key direct reinsurance markets and intermediaries.
5. Responsible for all facultative reinsurance reporting.
6. Acts as a technical resource and regularly identifies opportunities to leverage new IT solutions in support of process improvements and reporting objectives. Works within multiple CNA underwriting systems such as RAPID, RST, TAP, EPC, FAMUSR, and HAL, as well as the eRe facultative reinsurance processing system.
7. Manages the eRe system for all underwriter training, system upgrades, and potential interface with underwriting systems. Point-person for all eRe system related questions from field underwriting operations.
8. Dedicated liaison for the external eRe relationship.
9. Partners with the reinsurance legal team to adapt and update facultative contract wording as needed.
10. Maintains expert knowledge of all relevant CNA policy forms.
11. Collaborates with the treaty placement team to understand how facultative interacts with the reinsurance treaties to provide purchasing guidance to underwriting.
12. May assist with placement of automatic facultative treaties and/or facilities.
13. Provides business insights and recommendations to support business improvements. Reports findings to Reinsurance leadership.
14. Acts as a resource for colleagues with less experience by providing instruction, guidance, and advice.
15. May actively partner with other analytical teams across the organization and/or participate in special projects.
16. Responds to and fulfills ad-hoc data requests.
May perform additional duties as assigned .
Typically Director or above.
Skills, Knowledge & Abilities
1. Solid knowledge of core functions of an insurance company and general insurance.
2. Extensive knowledge of reinsurance principles as well as major insurance lines of business including property, casualty, GL, D&O, WC, and healthcare liability.
3. Solid technical knowledge of financial, economic and statistical practices, procedures and principles, which may include a specialty area of the business.
4. Solid interpersonal, communication and presentation skills. Effectively interacts with all levels of CNA's internal and external business partners.
5. Solid analytical, critical thinking and problem solving skills to effectively resolve complex situations and issues.
6. Solid project management, organization and planning skills with the ability to manage multiple risks and requests on a daily basis.
7. Ability to solve issues with a high degree of urgency; utilizes and manages the available resources to make informed decisions and achieve superior results.
8. Ability to creatively and effectively manage through ambiguous and challenging problems, leads through change and takes appropriate level of risk.
9. Must work independently receiving minimal guidance.
10. Solid knowledge of Microsoft Office Suite and other business-related software.
Education & Experience
1. Bachelor's Degree in a related discipline, or equivalent with preferred Business, Economics, Mathematics, Finance, Statistics, or related discipline. 2. Typically a minimum of seven years of related work experience.