Reinsurance Facultative Assistant Manager

Position Overview: The Reinsurance Facultative Specialist is responsible for managing and executing facultative reinsurance placements across various lines of business (LOB). This role involves negotiating terms with reinsurance brokers and companies, ensuring compliance with policy terms and conditions, and overseeing the administration and reporting of facultative transactions.

Key Responsibilities:

• Facultative Placement Management: Handle all aspects of facultative reinsurance placements across different LOBs, including negotiating terms, pricing, and coverage with reinsurers and brokers.
• Reinsurance Slip Issuance: Prepare, distribute, and reconcile reinsurance slips, ensuring accuracy and compliance with underwriting guidelines.
• Administration and Reporting: Manage the administrative processes of Facultative Obligatory and MOP (Maximum Operational Performance) accounts, including record-keeping and monthly reporting.
• WPC Control: Ensure proper control and reconciliation of facultative accounts through WPC (Working Party Control).
• Collaboration and Coordination: Work closely with underwriting, claims, and finance teams to ensure smooth reinsurance operations and effective risk transfer.
• Relationship Management: Maintain strong relationships with reinsurance brokers and companies to facilitate efficient placements and negotiations.
• Regulatory Compliance: Ensure all reinsurance transactions adhere to regulatory standards and company policies.

Qualifications:

• Minimum of 3 years of experience in facultative reinsurance placements.
• Strong negotiation skills with proven experience dealing with reinsurance companies and brokers.
• Familiarity with the CARE system and understanding of policy terms and conditions.
• Excellent communication skills, both written and verbal.
• Possession of AAAIK certification or actively pursuing it.