Senior Counsel - Reinsurance / Insurance Claims and Alternative Risk Transactions

Nationwide Insurance; Pennsylvania; Remote; USD 146,000 - 244,000; Full time

Job summary

A large insurance corporation seeks a Senior Counsel to provide expert legal counsel on complex matters within the insurance sector. The role involves risk management, improving legal strategies, and negotiation of reinsurance agreements. Ideal candidates will have a Juris Doctorate and extensive legal experience in insurance and risk management. The position can be fully remote, and offers a competitive salary range of $146,000 - $244,000.

Benefits

Medical, dental, and vision insurance

401(k) with company match

Company-paid pension plan

Paid time off, including holidays

Business casual attire

Qualifications

• 15+ years of relevant legal experience, possibly with management roles.
• Strong understanding of insurance and risk management law.
• Ability to navigate complex legal issues with no established precedent.

Responsibilities

• Provide legal counsel on complex legal matters.
• Identify and assess potential legal risks for the organization.
• Negotiate reinsurance and fronting agreements.

Skills

Legal expertise

Analytical ability

Strong communication skills

Project management

Education

Juris Doctorate from an ABA-accredited law school

Job description

If you're passionate about being part of a diverse organization that enables a Fortune 100 company to deliver innovative business solutions with excellence, then Nationwide's Legal team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

Job Description

This position will be a critical member of a Reinsurance / Insurance Claims and Alternative Risk center of excellence within Nationwide’s Office the Chief Legal Officer (OCLO) and will support such matters throughout the Nationwide enterprise. This position involves providing specialized legal and regulatory expertise to support (re)insurance coverage analysis and (re)insurance claims / litigation, manuscript drafting of insurance policies, and external audit matters. This position will also provide significant support for reinsurance transactions, and alternative risk financing strategies for Property & Casualty and Financial Services. The successful candidate will have experience in various areas related to insurance, reinsurance, and risk management.

Responsibilities

Corporate Risk Management

• Familiarity with various property & casualty insurance products, including general liability, auto liability, property, workers’ compensation, excess & surplus lines, management specialty lines insurance – E&O, D&O, fiduciary liability, surety, credit insurance, etc. and drafting manuscript endorsements.
• Identify, assess, and mitigate legal risks across the organization and develop strategies to protect the company's interests.
• Provide legal advice on corporate governance, regulatory, compliance, and risk management for captive insurance programs.

Insurance and Reinsurance coverage, claims, and dispute resolution matters

• Advise on coverage issues and (re)insurance recoverable strategies.
• Drive pursuit of insurance and reinsurance claims, drafting demand letters, providing strategic advice, oversight, and management of outside counsel over arbitration and litigation matters.

External Audit matters

• Identify and evaluate material matters for disclosure working across the organization and with external counsel, issuing audit letters.
• Familiarity with Model Audit Rule.
• Negotiate various engagement letters with auditors.

Reinsurance, Fronting Arrangements, and Alternative Risk Financing

• Review and negotiate reinsurance and fronting agreements, including ancillary agreements, and advise on issues involving reinsurance intermediaries, program administrators, third party administrators, trusts, multinational insurance programs, etc.
• Address legal and regulatory issues, including license, registration, collateral, tax, etc.
• Advise on the establishment, regulation, and ongoing governance and administration of reinsurance entities and captive insurers.
• Advise on alternative risk financing mechanisms, including captives, structured insurance solutions, insurance‑linked securities and notes, catastrophe bonds, and other innovative solutions.
• Evaluate the legal and regulatory implications of alternative risk structures.

Bermuda and Other Offshore Reinsurance Regulations and Transactions

• Navigate international regulatory frameworks for cross‑border reinsurance transactions.
• Analyze legal and compliance aspects of global reinsurance operations working with other areas of expertise, including privacy, tax, trade and economic sanctions, and other‑regulatory implications.

This position can be fully remote reporting into our Columbus, Ohio corporate office.

Job Description Summary

Would you thrive in an environment where you can deliver top‑quality legal services to support the goals and objectives of a Fortune 100 insurance and financial services company? If you possess the legal education, skills and expertise needed to provide outstanding service, advice, and counsel, we want to hear from you! As Senior Counsel, you'll independently provide expert advice and counsel on highly complex legal matters to senior‑level leaders. We'll count on you to create valuable risk management recommendations by actively identifying and logically assessing potential legal risks in ambiguous, unique and/or the most complex business situations which have the greatest potential for significant impact to the company.

Key Responsibilities

• Provides the highest level of subject matter expertise for legal specialties on significant, high‑risk, or highly complex legal matters. Regularly attends business partner meetings to better understand business processes and needs.
• Identifies and logically assesses potential legal risks. Creates risk management/mitigation recommendations using sound risk assessment information to further achievement of business objectives. Drafts necessary legal documents and develops conclusions and recommendations.
• Regularly interacts with senior leaders in the Office of the Chief Legal Officer (OCLO) or the company on legal matters within area(s) of legal expertise. Has input into or influence on company decision‑making.
• Creates practical and effective solutions to the most complex legal issues with no established precedent; develops creative solutions to unique legal problems; has significant interaction with persons outside of the company.
• Takes the lead role in matters that are highly complex, strategic, or sensitive in nature. Understands the business partner’s position and needs.
• Keeps senior leaders and appropriate management of company informed of case law and new legislation, as appropriate. Considers the long‑term business and strategic consequences of possible outcomes. Delivers difficult messages or news, and challenges business partners when necessary; responds to challenges to advice and counsel directly and effectively.
• Brings a broad network of established relationships, both internal and external, to the organization, particularly in recognized areas of subject matter expertise.
• Works independently and may lead teams to resolve highly complex legal and organizational issues.
• Makes recommendations about and ensures compliance with approved outside counsel budget.
• Hires and develops talent, provides consistent coaching and feedback.
• May perform other responsibilities as assigned.

Reporting Relationships

Reports to Vice President/Associate Vice President/Managing Counsel; may lead a team of Legal professionals.

Typical Skills and Experiences

Education: Juris Doctorate from an American Bar Association‑accredited law school.

License/Certification/Designation

Associates reporting within Nationwide’s OCLO who are functioning in attorney roles must be fully licensed in accordance with OCLO policy, in good standing and in compliance with all continuing legal education requirements at all times in the state(s) in which they practice.

Experience

Typically has 15 or more years of relevant legal experience. May have management experience. Has significant experience with or knowledge of one or more areas of law, complex legal practices and procedures, project management concept and techniques. Considered a subject matter authority within his or her areas of legal expertise. Sound business acuity and knowledge of the business goals and objectives as they relate to the matter at hand.

Knowledge, Abilities and Skills

Strong verbal and written communication skills for contacts interacting with all levels within OCLO and with business partners. Analytical ability to interpret statutes, regulations, insurance policies and other contracts. Decision‑making ability to set work priorities and make recommendations. Ability to lead cross‑functional projects. Ability to lead, initiate, organize and coordinate highly complex projects and/or cases. Takes the lead role in negotiations that are complex, strategic, or sensitive in nature. Supervisory skills useful. Significant professional and/or civic involvement.

Values

Regularly and consistently demonstrates Nationwide Values.

Job Conditions

Overtime Eligibility

Not Eligible (Exempt)

Working Conditions

Normal office environment. Some travel may be required.

ADA

The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

Credit/Background Check

Due to the fiduciary accountabilities of this job, a valid credit and/or background check will be required as part of the selection process.

Benefits

We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro‑rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company‑paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

This position could be filled within any of the lower 48 U.S. states. For NY residents we provide Notice of Employee Rights and Obligations information.

Nationwide pays on a geographic‑specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range. Note on Compensation for Part‑Time Roles: Please be aware that the salary ranges listed below reflect full‑time compensation. Actual compensation may be prorated based on the number of hours worked relative to a full‑time schedule. The national salary range for Senior Counsel - 651000 : $139,000.00-$272,000.00 The expected starting salary range for Senior Counsel - 651000 : $146,000.00 - $244,000.00