Reinsurance Specialist
Reporting to the Head of Division, the Reinsurance Specialist manages the reinsurance supervision requirements, both on an on-site and off-site basis with respect to reinsurance companies and complex reinsurance programs of insurance companies to achieve compliance with the legislative requirements and the goals and objectives of the Division and CIMA.
RESPONSIBILITIES:
The successful candidate will:
- Attends and chairs meetings with licensees and representatives of the insurance industry to discuss concerns, recommendations or other matters relating to compliance with best supervisory practices;
- Assists with the development of new Reinsurance/Insurance Regulations or Directives, recommends relevant amendments to the legislation so as to recognize new circumstances, and supervises their drafting and ensures their implementation;
- Assists with on-site inspections of reinsurance licensees, including design of inspection plans and/or procedures, analytical reviews and/or preparation of inspection reports;
- Reviews and/or determines recommendations for improvement based on inspection findings, and follows up to ensure compliance with recommendations;
- Manages and completes projects to ensure divisional regulatory practices and policies are aligned with international standards and best practices for reinsurance;
- Provides recommendations about legislation, regulations, rules, guidance and supervisory practices applicable to the supervision of the Reinsurance Sector to ensure that they are aligned with international standards and best practices;
- Monitors, evaluates and communicates emerging developments and trends pertinent to the international reinsurance industry;
- Builds positive, cooperative relationships with licensees and other international regulatory bodies or agencies; and
- Provides reinsurance leadership, training and advice, collaborates and interacts with other divisions to develop and deliver on shared goals and objectives.
REQUIREMENTS:
- A Bachelor’s Degree from an accredited institution in an Insurance or Finance related field or Quantitative Major Course of Study;
- Professional qualification in insurance/reinsurance or risk management including: Are, CLU, CPCU, ACII, FRM, CFA, CAA or equivalent designation;
- At least seven (7) years’ cumulative professional experience in the reinsurance insurance industry, with five (5) years’ management experience.
- Knowledge of accounting principles and analytical skills to analyze the implications of financial statements as they relate to (re)insurance companies;
- Specialized knowledge of insurance and reinsurance theory and practices and emerging insurance supervisory techniques, and up to date knowledge of domestic and international financial and economic events and;
- Specialised knowledge in reinsurance principles and practices including: reinsurance coverage schemes and contracts, risk analysis, accounting, program structure, underwriting and claims.
Direct applicants only. Applications received from agencies will not be accepted at this time.
CI $111,939 - $139,590 per annum
(Only shortlisted candidates will be notified)
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