We are a provider and administrator of automotive related insurance products including Vehicle Service Contracts, Tire & Wheel Protection and Total Loss GAP Protection across more than 5,000 outlets in North America. We have earned a stellar reputation from our customers, peers and partners by providing: 1) the highest-quality products in the industry, 2) exceptional product development capabilities and 3) unparalleled customer service with a client-first approach.
We are currently experiencing strong organic growth due to geographic expansion, the addition of several new clients and increasing market share with current clients. We offer a wide array of products for the RV, marine, and motorcycle/power sports segments. With a complete product portfolio ans sensible technology solutions, top Original Equipment Manufacturers (OEMs), dealers and agencies choose our brand more than any provider in the industry. Our mission is to provide solutions to the motor vehicle industry that drive customer retention and protect consumers from unforeseen costs of ownership.
The Reinsurance Manager will plan, organize, lead and coordinate the Reinsurance unit to provide superior reinsurance services to internal and external stakeholders and clients. The Reinsurance Manager is responsible for ensuring all existing reinsurance deals are serviced and accounted for properly evaluating potential new candidates that are submitted for reinsurance programs to ensure they meet Company requirements and to validate the reason for offering reinsurance participation. The manager will analyze client data and develop appropriate pro forma models of the financial impact of reinsurance to the Company and the proposed retrocessionaire. This individual will provide sales support and facilitate a consultative approach with client for program options. The incumbent will be a key member of and work with the Reinsurance Strategy Team to develop & maintain company's reinsurance strategy, policies and procedures aimed at enhancing competitive advantage in the dealer reinsurance market. The manager will research & propose innovative dealer reinsurance programs and enhancements to existing programs to executive management for approval and follow through with implementation. The manager will lead the Reinsurance Team in implementing systems and procedures for accurate accounting of all ceded reinsurance activity, preparation of cession statements, review & approval of reinsurance payments, monitor trust account activity and oversee other risk mitigation & compliance measures.
Essential Functions (estimated time allocation):
Reinsurance Marketing (25%)
-Assists sales & marketing team when requested to meet with existing and potential clients to discuss reinsurance programs available. -Serves as subject matter expert for all aspects of reinsurance, including impacts to dealer / reinsurer. Informs clients of various reinsurance structures available and assists clients in obtaining outside legal and tax advisors to facilitate setup of best reinsurance structure for client's specific needs. -Conducts the research and proposes recommendations for all ceded reinsurance programs to establish and maintain a competitive advantage for auto dealer reinsurance offerings. -Supports the investigation of proposed reinsurance opportunities and profitability analysis. -Coordinates activities of Legal, Risk Management, Sales & Marketing and others as needed through negotiation and enrollment of dealers / agents in new or amended reinsurance agreements.
Reinsurance Accounting (75%)
-Oversees the administrative functions of the reinsurance program. -Oversees the accounting and reporting functions of reinsurance programs including reinsurance receipt and disbursement processes. -Manages direct reports, systems, and projects to achieve department/unit goals in accordance with Company policies and practices. -Maintain effective communications with dealer / reinsurer principals and their tax and accounting support. -Partner with key personnel to ensure the proper interpretation, recognition, accounting & operational implementation and reporting of reinsurance agreements. -Lead analysis and reconciliation of reinsurance related accounts in support of financial statement preparation -Review and approve journal entries to ensure accurate recording of reinsurance activity to ledger. -Establish and maintain effective processes and controls over collateral used to secure reinsurance exposures. -Ensure compliance with regulatory, GAAP and other company requirements and audit processes, developing and executing action plans designed to remediate internal control deficiencies. -Supervise, hire, train, provide feedback, coach and develop team members; and when necessary, take disciplinary action up to and including termination. Foster personnel development to ensure cross-training, continuity planning, and growth opportunities for team members.
-Bachelor's Degree, Accounting, Finance or Business Administration
-5+ years of reinsurance experience
-7+ years of insurance / reinsurance accounting experience
-3+years of personnel management
-Significant experience in automotive finance and insurance industry with thorough knowledge of dealer reinsurance programs, including CFC's, NCFC's and tax implications.
-Solid knowledge and understanding of the integration of reinsurance processing and systems. Experience with leading a reinsurance system implementation a plus.
-Effective analytical skills with advanced knowledge of Microsoft Excel required, familiarity with SQL preferred.
-Strong analytical skills and understanding of US GAAP.
-Excellent communication, organization, time management and prioritization skills necessary to be effective in a fast-paced work environment.
-Prior public accounting or internal auditing experience preferred.
Core Competencies Required:
1.) Teamwork/Collaboration: Support team members by establishing effective interpersonal relationshipsand cross functional partnering.
2.) Job Knowledge: Clearly demonstrates a good grasp of key job functions, relevant terminology, technical processes and standards.
3.) Customer Experience: Communicate effectively with customers, advocate customer needs and initiate resolution.