Royal Bank of Canada
Job title:
Manager, Reinsurance Treaties Lead
Company
Royal Bank of Canada
Job description
Job SummaryJob DescriptionWhat is the opportunity?This position is responsible for writing and analyzing ceded reinsurance treaties for RBC Insurance, including any treaty addendums. This position will collaborate closely with key stakeholders to optimize the administration and management of all reinsurance treaties, including managing any Letters of Intent.This position will also provide leadership and subject matter expertise for all treaties associated with the reinsurance portfolio, including but not limited to new product launches, new treaties and pricing changes, possible recaptures, and reporting initiatives with an emphasis on treaty analytics.What will you do?
- Ability to write Reinsurance treaties while collaborating with our legal advisors to develop appropriate treaty language, including all applicable treaty clauses.
- Manage how RBC Insurance handles all existing and any new reinsurance treaties; Implement process and system changes to optimize the reinsurance treaties management.
- Collaborate closely with the Manager, Reinsurance Placements and Counterparty Management and analyze data from reinsurance treaties to identify operational gaps, risks, and improvement opportunities.
- Collaborate with risk partners, internal, and external audit to ensure processes and procedures are robust, and adequate controls are in-place for required signatures in all treaties and reviewed on an ongoing basis.
- Develop and maintain relationships with cross department teams (incl. underwriting, pricing, claims, finance, legal) and external reinsurers to ensure all reinsurance treaties are documented and ready for further analysis.
- Support the overall administration of ceded reinsurance treaties as required, which includes but not limited to:
– Accurate and timely analytics of all reinsurance treaties– Recommend applicable treaties for full or partial recapture– Assist in management of Group & Travel administrative tasksWhat will you need to succeed?
- Post secondary degree in business, actuarial science, finance, mathematics, or another relevant field of study
- Minimum 5 years’ experience in Insurance and Reinsurance Administration, and an in-depth knowledge of the industry, reinsurance treaties and contracts, insurance products, and related processes
- Must have direct first-hand experience in writing Reinsurance Treaties
- Thorough understanding of reinsurance processes including administration of all reinsurance treaties, with unique skills in developing treaty analytics; detailed understanding of reinsurance data, processes, and controls including retention management, treaty setup, interpretation, and compliance
- Effective communication and leadership skills, with the ability to communicate and present ideas across various levels of management and stakeholders
- Experience in data analytics and ability to summarize reinsurance treaty data by key fields like Ceded Cession Count, Ceded Reinsurance Premium, Ceded Reinsurance Net Amount at Risk, Ceded Actuarial Liabilities
What’s in it for you?
- A Total Rewards program that includes flexible benefits, work/life balance and career development programs and investment and retirement savings plans
- Competitive pay and high-earning potential
- All the tools, training, and team support you need to grow your career
- Flexible work/life balance options
- Sophisticated RBCI software tools to boost your productivity
Job Skills Adaptability, Customer Service, Decision Making, Effectiveness Measurement, Insurance Operations, Process Management, Strategic Thinking, Time ManagementAdditional Job DetailsAddress: MEADOWVALE BUSINESS PARK, 6880 FINANCIAL DR:MISSISSAUGACity: MISSISSAUGACountry: CanadaWork hours/week: 37.5Employment Type: Full timePlatform: INSURANCEJob Type: RegularPay Type: SalariedPosted Date: 2024-08-26Application Deadline: 2024-09-14Inclusion and Equal Opportunity EmploymentAt RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.Join our Talent CommunityStay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at .
Expected salary
Location
Mississauga, ON
Job date
Tue, 27 Aug 2024 22:50:41 GMT
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