Job Title: Head of Reinsurance Operations

Reporting to: Group Head of Finance Change (dotted line into Cross Functional Senior Leadership Team responsible for Outwards Reinsurance E2E)

Direct Reports: approx. 6

Position Type: Permanent

Overview:

Why Tokio Marine HCC?

Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.

The Reinsurance Operations function is responsible for the management and administration of the TMHCC International outwards reinsurance program. Internally, we engage with the Reinsurance Placement function and with Line of Business Underwriting teams to understand and execute the reinsurance policies and programs purchased. We use our collective knowledge, experience, and expertise to deliver value add service and proactive support for the outwards reinsurance portfolio. Collaborative engagement with our Finance and Claims teams, as well as our reinsurance broking partners enables successful end-to-end delivery of our contractual and reporting obligations.

Job Purpose:

We are seeking an experienced Head of Reinsurance Operations. This person must have a strong background in Reinsurance, delivering exceptional service to stakeholders through own and team interactions and demonstrable experience of building and managing teams. With industry experience gained from a combination of a major Market Reinsurance Broker, Insurer and/or Reinsurer, the successful candidate will have responsibility for managing and executing post placement activities.

Through regular engagement with our broking partners, the Reinsurance Operation team will ensure TMHCCs reputation for delivering on commitments to our reinsurance partners.

The new Head of Reinsurance Operations will drive forward continued process improvement, with a focus on delivering excellent service to all stakeholders, whilst driving out manual activities where possible and improving reporting.

The role will require someone who is comfortable managing change, building and improving processes, inspiring and leading a team of professionals, managing multiple priorities, and working closely with the placement and underwriting teams to support reinsurance purchase.

The successful candidate will have strong reinsurance knowledge, supported by demonstrable experience communicating across multiple levels of an organisation in this multinational organisation.      

Performance Objectives:

Ensure all reinsurance contracts are booked and processed in a timely and accurate manner to enable payment to markets within contractual terms.Ensure all reinsurance recoverables are calculated correctly and notified in a timely and accurate manner to enable prompt collection.Ensure premium payment performance is monitored and reviewed monthly.Provide qualitative metrics on team performance with appropriate commentary monthly.Ensure adherence to all internal controls as mandated in the Control Framework.

Key responsibilities:

Management of the Reinsurance Operations Team and activities as follows:

Team Management

Management of the Reinsurance operations teams (Front & Middle office)Oversight of outwards reinsurance service delivery by shared services team (back office), maintaining accountability for output, agreeing Service Delivery Agreements (SLAs) and ensuring regular service and capacity reviews take place and are reported to stakeholdersOversight of service delivery by the Reinsurance Data & Systems Team, agreeing support SLAs are in place, ensuring regular service and capacity reviews take place and are reported to stakeholdersOwn the monthly RI Ops service performance reporting including SLA and backlog to provide transparency to stakeholdersEnsure the appropriate management and continued development of the team, through effective communication, support, guidance and mentoring.

Service Management

Support TMHCC Senior Leadership in the servicing of the reinsurance portfolio.Align closely with the Reinsurance Placement team to better understand and manage workloads, priorities and communication with senior stakeholders on key issues, successes, and escalations. Ensure regular progress and relationship meetings are held with our major brokers and reinsurers in coordination with the RI Purchasing team and Credit Control where appropriate.  Close liaison with the Finance Group Controller to ensure Reinsurance financials are appropriately controlled and accurate for onwards reporting internally and externally to regulators Provide support and sign off of the monthly close figures, through close liaison with other stakeholders within Finance and the broader TMHCC community.Provide support and guidance (technical and non-technical) on Reinsurance Recoverable matters, including close liaison with the Reinsurance Credit Control function to accelerate collections.  Align with key claims stakeholders to facilitate effective and timely collection of recoverable reinsurance.   

Change Management

Ensure all process and procedures are rigorously followed and maintained. Cultivate a culture of continuous process improvement and lead change in a structured manner.

Active participation in Outward Reinsurance Target Operating Model discussions including the definition of business scenarios to support identification of enabling technology

Skills and Experience Specification:

Essential:

Demonstrable knowledge of the insurance market and a high level of experience of the intricacies of the reinsurance market, including placement structures, complex collections and servicing.     Senior level experience gained in at least two of the following industry segments involving reinsurance, with a minimum of 10 years of experience managing teams:Major market Reinsurance BrokerMajor InsurerReinsurerExcellent stakeholder management skills, with credibility at senior management level, navigating complex relationships across an organisation.Understanding and proven management of financial budgeting, forecasting & analysis.Person who is willing to challenge assumptions and the status-quo.Experience in promoting and executing a culture of process improvement and creating efficiencies.

Desirable:

Financial and Accounting backgroundInternal Control and/or Audit backgroundExcellent Microsoft skills, specifically, MS Excel and Power-Point. 

Soft skills

Professional approach and delivery of work product.Energy, enthusiasm, persistence and adaptability.Excellent communicator at all levels with strong stakeholder engagement and a proven ability to influenceExpert at building relationships with multiple stakeholders within the organisation.Demonstrable experience of working in fast paced matrix management organisations with complex stakeholder models.Assertive but sensitive to conflicting demands on others.Must have the credibility to provide respectful challenge, quality assurance and support to SMEs and sponsors.Focus on timely delivery of quality outputs.Strong advocate of collaborative working.Highly proficient in written and visual communication targeted to different audiences.

What We Offer

The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer. Please visit www.tmhcc.com for more information about our companies.

The Tokio Marine HCC Group of companies is an equal opportunity employer.  Please visit www.tmhcc.com for more information about our companies.

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