Assignment: Reinsurance Recoveries Lead

Reporting to: Interim Head of Reinsurance Ops

Direct Reports: none

Position Type: Outside IR35, 6 month contract

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.

Assignment Purpose:

We are seeking an individual with reinsurance and transformation experience.

This person must have a strong background in Reinsurance, delivering exceptional service to stakeholders, with industry experience gained from a combination of a major Market Reinsurance Broker, Insurer and/or Reinsurer, the successful candidate will support the organisation in transforming the reinsurance recoveries processes.

The successful candidate will have strong reinsurance knowledge, supported by demonstrable experience of process improvement and change, delivering quality outputs and benefits with effective communication across multiple levels of an organisation.

Deliverables:

RI Recoveries Process Assessment and Design 

Working with Interim Head of RI Ops, RI Service Delivery Lead, Finance leadership Team (FLT), RI Placement, Claims, analyse and design process for managing, reporting and servicing reinsurance recoveries, establishing engagement models, RACI, stakeholder maps.

Facilitate the initial adoption of processes as we determine efficiencies and responsibilities within the RI Target Operating Model.

Adopt a hands on approach to delivering artefacts and supporting BAU teams in the initial phase across collection notes, credit control, complex claims

Refine the Reinsurance Recoveries process for TMHCC to ensure a consistent and effective approach is taken to accelerate prompt recovery from reinsurers through our Brokers.

Continuous Improvement

Identify and assess areas for continuous improvement to improve process efficiency and / or reduce risk Streamline reporting processes

Project execution

Regularly communicate status, risks, issues, actions, needed decisions, and other escalations to RI Triage group

Following approvals with FLT, RI Placement, Claims – execute process changes:

Providing support in training on and testing of the solutions being implemented to ensure quality and accuracy and knowledge transfer

Coordinating workshops and meetings and closely collaborating with stakeholders to understand business needs, goals, and requirements

Providing ongoing support to business users during implementation and post-implementation of the identified solutions.

Ensuring knowledge and responsibility transfers to BAU individuals

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.     Demonstrable 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.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.