VP, Ceded Reinsurance Placement Manager

Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions. We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism. Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.

Role Purpose

Supports the global Ceded Reinsurance business with ensuring an effective and efficient ceded reinsurance function. Supports the Group Head of Ceded Reinsurance and others in the development of reinsurance strategy to effectively redistribute underwriting risk as required by the business plan demonstrating collaboration, awareness and understanding of various departments involved in the reinsurance process, including Underwriting, Finance, Actuarial, Claims, Legal and others as appropriate to deliver on critical ceded reinsurance activities. Our Aspen Values are expected to be reflected in the delivery and performance of every role.

Key Results Areas

• Strategy and Planning: Contributes to and ensures delivery of Ceded Reinsurance strategy through operational deliverables to achieve positive results for the business in line with strategy. Manages the placement of Aspen’s Ceded Reinsurance program as directed by the Group Head of Ceded Reinsurance with focus on property, casualty, and specialty lines. Assists in the creation and execution of effective planning, control, and support mechanisms to ensure delivery of the business plan in line with market and shareholder expectations.
• Policy, Process and Procedures: Manage reinsurer interaction with Aspen’s underwriter teams during presentations, audits, file reviews and the like. Ensure company, market and client related documentation is issued (internally and externally) accurately and on time. Comply with external and internal regulatory and statutory policies, procedures, and regulations. Identifies and executes process improvements across the team, department and/or business unit for assigned areas of responsibility. Liaise with Ceded Reinsurance Operations, Accounting and Underwriting to ensure all accounting and administration process requirements are accurately interpreted. Liaise with underwriting teams to obtain and prepare timely and effective reinsurance narratives and presentations sufficient to obtain market leading reinsurance support and solutions. Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives.
• Environmental Awareness/Customer Focus: Develop and maintain productive relationships with Underwriting, Claims, Actuarial, Information Technology, Project Management, and other Finance areas. Develop relationships for servicing our capital partners, underwriting teams, the ceded placement team, and other internal stakeholders. Work with the Group Head of Ceded Reinsurance, CRO, actuarial teams and underwriting teams to assess the benefits of different structures both before and during placement. Develop relationships with external clients and stakeholders responding to changing market conditions to ensure the reinsurance strategy remains optimal. Develop relationships with Aspen’s significant reinsurance partners and brokers to facilitate high service levels. Support internal stakeholders and capital partners with standard and bespoke reporting.
• Technical Performance: Responsible for maintaining current knowledge of risk redistribution methods such as the capital markets to ensure Aspen utilises the most suitable structures to achieve business goals. Responsible for the accurate and timely completion of reinsurance placement submissions. Responsible for the accurate and timely ongoing administration of the Ceded Reinsurance purchased liaising with ORAO, Underwriters, Claims, Actuaries, Reinsurance Brokers, Reinsurers and other stakeholders, both internal and external, as appropriate. Work with the Ceded Reinsurance Accounting and Operations (ORAO) team to ensure they have sufficient detail and information to enable them to administer and report on purchases in the most efficient and timely manner. Enhance organizational initiatives by positively influencing and supporting change management initiatives within assigned areas of responsibility.

Experience

• Reinsurance buyer / seller with focus on property.
• Experience of working with Brokers/Reinsurers at a senior level.
• Experienced in underwriting, insurance, and reinsurance experience.
• Knowledge and full understanding of main vendor model catastrophe modelling output.
• Reputable experience in the marketplace.

Knowledge

• Extensive reinsurance contract wording knowledge.
• Knowledge of business processes and strategic planning.
• Good working knowledge of company systems and how technology can be leveraged to improve performance.
• Extensive knowledge and understanding of financial and underwriting principles to assess risk.
• Thorough understanding of Aspen’s Underwriting strategy and how this translates into operational targets and delivery.
• Strong data management skill including advanced data interrogation using Microsoft Excel.

Skills

• Strong reinsurance analytical skills.
• Excellent interpersonal and communication skills.
• Ability to look long term while balancing immediate term accounting and operational realities.
• Ability to negotiate, persuade and influence both directly and indirectly.
• Strong reasoning capabilities – creative and lateral thinking, with strong problem-solving skills.
• Able to independently investigate and trace through data issues, in coordination with internal departments, to confirm ceded reinsurance calculations.

At Aspen we know that having a diverse and inclusive workforce is good for our people, good for our business and good for the environments in which we operate. We therefore welcome applications from people which allows us to draw on diverse cultures, perspectives, skills and experiences.