Senior Reinsurance Manager

Intelligent Solutions Recruitment Specialists; Abu Dhabi; On-site; AED 120,000 - 180,000; Full time

Job summary

An established industry player in the insurance sector is seeking a Senior Reinsurance Manager to lead and optimize reinsurance activities. This pivotal role involves developing strategies that align with the organization's risk appetite, negotiating favorable terms with reinsurers, and ensuring compliance with regulatory standards. The ideal candidate will possess extensive experience in reinsurance operations and strong analytical skills to assess risks effectively. Join a dynamic team where your expertise will directly impact the company's financial stability and growth in a rapidly evolving market.

Qualifications

• Extensive experience in reinsurance operations, preferably in a managerial role.
• In-depth knowledge of reinsurance concepts and industry trends.

Responsibilities

• Develop and implement reinsurance strategies aligned with organizational goals.
• Negotiate reinsurance terms and conditions including premiums and coverage limits.

Skills

Analytical Skills

Negotiation Skills

Communication Skills

Interpersonal Skills

Risk Assessment

Education

Bachelor's degree in risk management

Advanced degree in finance or related field

Job description

General Overview:

Our Client, a leading Insurance company, is looking to hire a Senior Reinsurance Manager to join their team. The successful candidate will oversee and manage the reinsurance activities and collaborate with internal stakeholders to optimize reinsurance coverage and mitigate financial risks.

Key Responsibilities:

• Develop and implement reinsurance strategies aligned with the organization's goals and risk appetite.
• Analyze and assess the organization's risk exposures and recommend appropriate reinsurance programs.
• Collaborate with senior management to establish reinsurance objectives and risk tolerances.
• Negotiate reinsurance terms and conditions including premiums, coverage limits, and loss-sharing arrangements.
• Identify and select suitable reinsurers or brokers based on their financial stability and expertise.
• Review and analyze reinsurance contracts to ensure compliance with regulatory requirements and organizational policies.
• Evaluate and quantify risks associated with the organization's insurance portfolio.
• Conduct actuarial analysis to determine optimal reinsurance structures and pricing.
• Monitor industry trends and market conditions to assess the impact on reinsurance strategies.
• Oversee the claims process and collaborate with claims adjusters to ensure timely and accurate claim settlements.
• Coordinate with reinsurers and brokers to resolve complex claims and disputes.
• Analyze claims data to identify trends, patterns, and potential areas for improvement.
• Foster and maintain strong relationships with reinsurers, brokers, and other external stakeholders.
• Negotiate and maintain favorable business terms with reinsurers to optimize reinsurance arrangements.
• Collaborate with internal departments such as underwriting and finance to ensure effective communication and alignment of reinsurance objectives.
• Ensure compliance with regulatory requirements and internal control procedures.
• Prepare reports on reinsurance activities including financial performance, risk exposures, and claims analysis.
• Identify the proper reinsurance markets to support new products for proper risk transfer.
• Implement the best reinsurance structure to maximize the profitability of the organization.

Requirements:

• Bachelor's degree in risk management, finance, or a related field (advanced degree preferred).
• Extensive experience in reinsurance operations, preferably in a managerial or supervisory role.
• In-depth knowledge of reinsurance concepts, practices, and industry trends.
• Strong analytical skills with the ability to evaluate and quantify risks.
• Excellent negotiation, communication, and interpersonal skills.
• Familiarity with relevant regulatory frameworks and compliance requirements.
• Strong attention to detail and the ability to prioritize and manage multiple tasks effectively.

Required Experience:
Manager