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AVP/VP,Program Bus Underwriter

Date: Jun 24, 2019

Location: Chicago, US

Company: SCOR

     Americas     

Chicago United States (US) 

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AVP/VP,Program Bus Underwriter 

Permanent 

Underwriting 

 

 

          About SCOR         

SCOR is the 5th largest Reinsurance Company worldwide, following a profit-driven underwriting policy and practising selectively across all branches of reinsurance. Our specialist teams operate in over 120 countries, developing value added and innovative products and services and making long-term commitments to their clients, namely insurers and large corporations.
SCOR's aim, as an independent global reinsurance company, is to develop its Life and P&C business lines, to provide its clients with a broad range of innovative reinsurance solutions and to pursue an underwriting policy founded on profitability, supported by effective risk management and a prudent investment policy, in order to offer its clients an optimum level of security, to create value for its shareholders, and to contribute to the welfare and resilience of Society by helping to protect insureds against the risks they face.

 

Job Summary

Responsible for producing, monitoring and analyzing ongoing underwriting operations and program performances, assembling data required by Key Performance Indexes (KPIs), ensuring profitability criteria are met, all within compliance, both internal and external (i.e. ERM, legal).  Ensuring consistent and efficient management of MGAs and Programs, in conjunction with associated support functions (i.e. Legal, accounting, claims. Risk management, reserving, pricing).  Contributing to onsite audits, assessing organizational structures, operations and underwriting performance of new business opportunities as well as existing programs.  Actively promoting SCOR’s program initiative in conjunction with SCOR’s strategic plan through focused marketing actions.

 

- Key duties and responsibilities

MGA and Program Business Underwriting

  •  Ongoing program business written on surplus line or admitted basis:
    • Reconciliation of in-force premium bordereaux with claims bordereaux and payment remittances to ensure the validity of claims ceded.
    • Coordination with all appropriate SCOR Global P&C teams involved in the management of these programs (underwriting, pricing, claims, legal, technical accounting, finance, reserving, risk management, Underwriting management)
    • Perform underwriting audits
    • Contribute to claims, transactional and CAT modelling audits as needed
    • Provide quality, detailed and timely reports of ongoing performance of MGAs
  • In respect of new business opportunities, assist the Program Manager to:
    • Formulate business cases with appropriate structures and terms and conditions, to be submitted to Senior Management and Underwriting Management of the division for approval.
    • Evaluate and draft contract wording, in coordination with all appropriate SCOR Global P&C teams (underwriting, pricing, claims, legal, technical accounting, finance, reserving, risk management)
    • Negotiate contract wording and terms and conditions with prospect MGA and TPA, in conjunction with the legal and claims departments
    • Negotiate any program-specific reinsurance if applicable, in conjunction with the SCOR retrocession department.
    • Contribute to ad hoc due diligence teams for new deal evaluation and onboarding of new MGAs
    • Collaborate with the Program Business Manager to develop and implement the SCOR Program business strategy
      • Suggest portfolio steering actions, innovation in product and process and profitability improvement actions to the Program Manager
      • Responsible to monitor data produced by distinct MGAs (bordereaux), through the use of SCOR MGA platform, and ensure compatibility with SCOR administrative systems (ALPHA, OMEGA, CERTUS, CAT platform, Claims platform)
    • Marketing Activities
      • Perform marketing trips to Agent’s or broker offices
      • Attend industry conventions to promote SCOR and develop business relationships (i.e. Target Market, AAMGA, NAPSLO…)
      • Support origination efforts with existing market experience and relationships
    • Compliance and Controlling Activities:
      • Contribute to quarterly closing process
      • Adherence to all licensing and other legal and regulatory requirements
      • Adherence to SCOR ERM principals and requirements
      •  

- Required experience and Education

  • 10+ years of (re)insurance experience with a strong focus on underwriting. Expertise in Property underwriting with CAT modelling experience preferred. Experience in direct insurance and/or program business management a plus.
  • Experience managing ad hoc teams in a matrix type environment. Ability to identify required resources and manage them in a way to achieve desired outcomes. 
  • Superior account management skills,
  • Strong business and financial acumen and underwriting expertise
  • Excellent analytical and portfolio management skills
  • Strong presentation skills with ability to bring resources together to achieve desired outcomes. 
  • Excellent verbal and written communication skills
  • IT literacy a must
  • Exceptional team player while capable of operating independently
  • Able to work in teams and operate collaboratively in a matrix organization
  • Self-motivated
  • Project management skills an advantage
  • College degree preferred 
  • Post-graduate degree and/or industry certification/designation a plus

 

 

 


Nearest Major Market: Chicago