Director, Ceded Reinsurance

Openly

12h•Remote

About The Position

Openly is seeking a ceded reinsurance director who will help lead the company’s day-to-day ceded reinsurance operations while developing iterative improvement of the company’s buying strategy. This role will critically contribute to improving spend efficiency, reducing EBIT volatility, and protecting risk capital. Reporting to the Chief Accounting & Risk Officer, the Director, Ceded Reinsurance will collaborate in the development of and be responsible for the execution of the ceded reinsurance strategy for Openly by managing existing broker and reinsurance programs and relationships, forging new relationships and structures and serving as a liaison of reinsurance activities. This person will leverage and create strong relationships with brokers, reinsurers, carriers, and alternative capital providers supporting Openly’s growth and profitability strategies. This person will bring strong technical reinsurance experience, interpersonal skills, market relationships and innovative thinking to the reinsurance function. Candidates are required to be analytical, highly effective communicators, and display thoughtful business judgement. The candidate will also have a proven track record within the reinsurance industry and have strong existing relationships within the industry. The candidate should be a self-starter with a strong work ethic who is highly results-oriented, inquisitive, and enjoys problem solving with minimal structure.

Requirements

10+ years of related experience
Bachelor’s degree in finance or another quantitative field. MBA preferred
Deep technical experience in property and CAT reinsurance structuring
Strong analytical and problem-solving skills and the ability to think strategically through challenging questions
Frequent travel (US domestic travel & International travel to London, Bermuda, Cayman, Germany, etc.) is required
Experience in networking with reinsurers, negotiating and placing reinsurance programs
Familiarity with Cat modeling outputs (Verisk Touchstone & RMS RiskLink) and vendor model parameter risk is required
Ability to manage reinsurance brokerage relationships effectively and has a strong reinsurance negotiation experience
Strong interpersonal communication skills with the ability to synthesize complex and nuanced concepts to technical and non-technical audiences
Ability to fit into a unique culture that is highly nimble, adaptable, execution oriented and resilient
Excels in a fast-paced, demanding environment; able to manage multiple tasks and juggle several time-sensitive demands, while adapting to changing priorities
Able to create and deliver effective presentations to both external and internal audiences.

Nice To Haves

Experience with unauthorized and/or unrated reinsurance requirements is highly desirable

Responsibilities

Support Openly’s reinsurance program, including technical analysis and recommendation of structural strategies for Openly’s use and purchase of reinsurance coverage, developing relationships with incumbent and new markets, and managing the brokerage/placement process.
Maintain and evolve reinsurance capacity development strategies, including forging new relationships with traditional and non-traditional reinsurance capital providers and industry participants.
Collaborate with finance, insurance product, strategy, and legal teams to manage Openly’s reinsurance planning and placement processes.
Support the work of various departments such as Insurance Product Management, Insurance Product Research, Financial Planning & Analysis, Accounting & Reporting, and others.
Provide insights into risk-bearing activities at Openly, offering up strategies that further Openly’s growth and profitability objectives.
Be a thought leader within Finance & Strategy as the organization expands, spearheading projects as they arise.

Benefits

Remote-First Culture - We supported #remotelife long before it was a given. We'll keep promoting it.
Competitive Salary & Equity
Comprehensive Medical, Dental, and Vision Plan Offerings
Life and disability coverage including voluntary options
Parental Leave - up to 8 weeks (320 hours) of paid parental leave based on meeting eligibility requirements
(Birthing parents may be eligible for additional leave through STD)
401K Company Contribution - Openly contributes 3% of the employee's gross income, even if the employee does not contribute.
Work-from-home stipend - We provide a $1,500 allowance to spend on setting up your home workplace
Annual Professional Development Fund: Each employee has $2,000 in professional development (PD) funds to spend on activities or resources annually. We want each Openly employee to achieve personal and professional success and to feel supported, confident, and informed about improving their efficiency and productivity.
Be Well Program - Employees receive $50 per month to use towards your overall well-being
Paid Volunteer Service Hours
Referral Program and Reward
Depending on position, Employees generally are eligible for cash incentive compensation, including commissions for sales eligible roles. In all cases, eligibility for compensation and benefits is subject to applicable plan and policy terms in effect from time to time.