AVP, Corporate Ceded Reinsurance

Odyssey Group•Stamford, CT

About The Position

The Corporate Ceded Reinsurance AVP is responsible for managing the corporate retrocession reinsurance team and the accounting and administration of intercompany and Fairfax affiliate reinsurance contracts and 3rd party reinsurance contracts. The successful candidate is expected to be an expert in reinsurance accounting, particularly ceded/retro. This position will also be expected to maintain and/or manage the following: Global Cat retrocessional program Run Off retrocessional programs Fairfax Internal Reinsurance Vehicle (“FIRV”) accounting and administration (assumed and ceded) Consolidated ceded results analysis Ceded reinsurance collateral requirements Ceded Budgets Quarterly / Annual Statement Reporting requirements Fairfax quarterly reporting requirements

Requirements

Knowledge of pro rata and excess of loss reinsurance contracts, facultative certificates and general understanding of reinsurance treaty wording required
Strong analytical and decision-making skills
Ability to effectively and independently manage workload while exhibiting sound judgment
Exceptional presentation and communication skills, both written and verbal
Strong communication skills and ability to effectively interact with all levels of internal and external business partners.
Must be comfortable interacting on phone as well as in person with reinsurance brokers and markets
Strong knowledge of insurance/reinsurance terminology
Proficient in computer programs used for completing the duties described above, such as Microsoft Excel, Word, Outlook, etc.
A Bachelor’s degree in finance/accounting or equivalent work experience.
10 years of previous experience in reinsurance accounting.
Extensive understanding of reinsurance accounting concepts or techniques.

Responsibilities

Reviews treaty structures and wording including renewal submission data
Reviews existing processes and procedures and makes recommendations to enhance efficiencies
Manage the Global quarterly collateral requirements
Liaison and support the Mexico accounting team concerning Latin American retro covers
Supervising the billing and collection of retro recoveries and identifying collection issues and recommending appropriate action to be taken
Calculation of recoveries / reinstatement premiums
Consolidation of ceded results for all Odyssey branches
Preparation of Schedule F and Bad Debt
Ceded budgets and outlooks
Ceded collateral requirements
Balance sheet reconciliation
Cat Review Autopsy Reports
ORH consolidated ceded LOB reporting
Preparation of various notes to the financials
Preparation of Schedule F and Bad Debt
Interact with senior management / department heads of legal, actuarial, claims, accounting and corporate accounting and external audit