Nationwide AVP, Reinsurance Placement in Columbus, Ohio
Reports to: VP, P&C Chief Risk Officer
Responsible for the placement of ceded reinsurance and cat bonds across all of the Property Casualty businesses. Sets strategy for the use of risk transfer across all of Nationwide's property and casualty business to facilitate appropriate capital management and support business growth. Oversees the execution of risk transfer agreements of approximately $450M across a variety of businesses and products. Partners with the businesses to develop risk transfer solutions to facilitate growth opportunities. Partners with corporate development to execute capital markets transactions to protect Nationwide's capital (e.g. catastrophe bonds).
Partners with enterprise risk management leadership to develop strategy for the use of risk transfer solutions to manage capital and to facilitate growth. Utilizes capital models to test various risk management strategies versus our enterprise risk limits and capital strategies. Partners with catastrophe risk management team to test various catastrophe risk management scenarios to understand the impact on both capital as well as growth capacity for catastrophe exposures. Develops strategy for the use of capital market solutions. Presents to Property and Casualty Risk Committee (includes CRO, CFO, Property Casualty President) on strategic direction.
Oversees the execution of approximately $450M of risk transfer agreements spanning both enterprise-wide risks as well as business unit specific risks. This includes procuring, summarizing, and presenting data and information to our reinsurers and negotiation of pricing and terms. Partners with business leaders to develop risk transfer solutions to facilitate growth. Manages the broker and reinsurer relationships (75 relationships) to ensure efficient market execution. Responsible for the selection and compensation of reinsurance brokers. Presents to P and C Risk Committee to inform/recommend risk transfer execution.
Ensures proper controls and governance are in place for reinsurance processes. Performs risk transfer analysis (actuarial analysis) on all risk transfer agreements to ensure proper accounting. Tests controls to ensure proper reporting and execution of all risk transfer contracts. Partners with external and internal auditors as required.
Management/Leadership: Establish and drive functional area vision, strategy, and objectives; oversee and lead associate management to include performance management, talent management, engagement, salary planning and administration, development, and resource demand management strategies.
Bachelors’ degree in business, mathematics, statistics, etc. or ACAS. Preferred education: Master's degree in business, mathematics, statistics, etc. or FCAS or CFA.
Minimum of 7 years of direct risk transfer or reinsurance experience. Must have technical knowledge of insurance company capital calculations and processes including both rating agency capital calculations and internal economic capital calculations. Must be highly knowledgeable of property and casualty exposures and loss modeling. Must have advanced mathematical or statistical skills and technical skills to work with large data sets. Must have advanced communication skills both written and oral in order to traverse multiple audiences including senior leaders (Chief Risk Officer, CFO, Business Presidents). Minimum of 3 years of managing staff. Must have highly developed negotiation skills and relationship management skills. Must be proficient in contract interpretation and negotiation in partnership with the office of general counsel.
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.
Job Family/Function: FIN / RSK
Evaluation Activity: AEH – 2/13/2018