Director, Reinsurance – Actuarial & Underwriting

Position Overview

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

This position will report to the Chief Actuary.

Essential Elements

• Underwriting Management – 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.
• Reinsurance – 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.
• Business Development – partner with sales and marketing in support of new business opportunities to secure profitable revenue and distribution streams.
• Rating Methodology - 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.
• Client Management - Manage customer requests and communications. Develop customer rating and risk management processes in support of profitable, compliant growth.
• Market Analysis - Assess competitiveness of existing rating structures, product and underwriting criteria.
• Data & System Transformation – 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.
• Reinsurance Operating Model and Governance – Provide executive ownership of the reinsurance operating model, including governance over contract lifecycle management, treaty execution.
• Reserving / Experience Analysis - Setting and reviewing IBNR and case reserves for the reinsurance book, conducting experience studies, and ensuring reserve adequacy.
• Product Development - Partner with Product Development team to ensure sound risk management and rating of products at the outset. This includes the analysis and structuring new products in order to achieve the expectations of long-term growth and profit goals.
• Forecasting and Business Planning - Support financial forecasts, budgeting, capital management and business plan projection
  
  

Education and Certifications

• Bachelor’s Degree in Mathematics or Business required
• Associate or Fellow of the Society of Actuaries designation required
• Member of American Academy of Actuaries preferred
• Continuing education relating to the maintenance of professional credentials (compliant status) preferred
  
  

Experience

• 10 years of insurance business experience preferred
• Medical Stop Loss and Excess of Loss experience preferred
• Management and staff development experience preferred
  
  

Travel Required

• Nationwide travel to industry conferences, Oakbrook office (onsite or minimum monthly visits) and other client visits as needed
  
  

Compensation And Benefits

The target base salary range for this full-time, salaried position is

$164,000-$205,000

Individual base pay depends on work location and additional factors such as experience, job-related skills, and relevant education or training. Total pay may include other forms of compensation. In addition, we offer competitive health, dental, 401k and wellness benefits beginning on the first day of the month following the first day of employment. Please ask your Talent Acquisition Specialist for more information about our total rewards package.