Director, Reinsurance – Actuarial & Underwriting

BCS Financial Corporation•Oakbrook Terrace, IL

10h•$164,000 - $205,000•Hybrid

About The Position

This position provides strategic leadership for BCS reinsurance solutions in BCS’ Large Claims Solutions business segment, with accountability for supporting profitable growth, disciplined risk management, and effective execution of BCS’ reinsurance solutions. Responsibilities include oversight of underwriting management, pricing, reserving, management reporting and analysis, compliance, and product and business development for BCS excess reinsurance and other large claims products.

Requirements

Bachelor’s Degree in Mathematics or Business required
Associate or Fellow of the Society of Actuaries designation required

Nice To Haves

Member of American Academy of Actuaries preferred
Continuing education relating to the maintenance of professional credentials (compliant status) preferred
10+ years of insurance business experience preferred
Medical Stop Loss and Excess of Loss experience preferred
Management and staff development experience preferred

Responsibilities

Provides oversight for the client management team that provides day to day customer support and underwriting for BCS’ reinsurance solutions.
Manage rating tools and applications that support the underwriting team.
Refine existing underwriting guidelines and manage changes and adherence to the guidelines.
Evaluate the appropriate levels of coverage that support BCS’ internal risk management philosophy and meet Plan capital needs.
Coordinate with the legal departments, reinsurance intermediaries and reinsurers on reinsurance contract language.
Serve as a technical reinsurance expert to internal departments.
Partner with sales and marketing in support of new business opportunities to secure profitable revenue and distribution streams.
Establish and document new business and renewal rating basis that will ensure profitable underwriting results.
Develop a manual rate and factor review process in support of rating.
Manage customer requests and communications.
Develop customer rating and risk management processes in support of profitable, compliant growth.
Assess competitiveness of existing rating structures, product and underwriting criteria.
Serve as a key strategic partner to the BTO and senior leadership in modernizing the systems, data models, and workflows supporting reinsurance products.
Drive a more efficient, client-focused, and consistent product delivery through deliberate investment in technology, data infrastructure, and process redesign.
Provide executive ownership of the reinsurance operating model, including governance over contract lifecycle management, treaty execution.
Setting and reviewing IBNR and case reserves for the reinsurance book, conducting experience studies, and ensuring reserve adequacy.
Partner with Product Development team to ensure sound risk management and rating of products at the outset.
Analysis and structuring new products in order to achieve the expectations of long-term growth and profit goals.
Support financial forecasts, budgeting, capital management and business plan projection.