Reinsurance Business Partner

This role requires a highly versatile individual who has the technical breadth and solid understanding of relevant life insurance business processes particularly in relation to end to end life insurance premium and claims cycles and administration, reinsurance, claims, underwriting, policy alterations, technical / customer operational processes. debtor management and accounting. The successful individual will apply a holistic approach and sound decision making to ensure fair and balanced outcomes for our reinsurers, our shareholder and the business when it comes to operational reinsurance matters.

The primary accountability of the role is to ensure that the reinsurance function supports the end to end product and claims life cycles of TAL’s business, and that reinsurance recoveries are maximised for the benefit of TAL, its shareholder and ultimately our customers.

Other key responsibilities of the role include close liaison with reinsurers and with colleagues within TAL and the Dai-ichi Group acting as a Reinsurance Subject Matter Expert on a wide range of matters related to reinsurance, including remediation, reinstatements, relationship management and risk management.

With the TAL reinsurance portfolio exceeding $2bn in premiums administered, this is a high profile opportunity providing exposure to senior management and a wide range of stakeholders across all business units and functions whilst also having an impact on TAL’s balance sheet. Individuals will require excellent communication skills to build strong relationships with key stakeholders and have the courage to challenge the status quo.

Key Accountabilities:

• Proactive management of all customer reinstatement requests including timely liaison with reinsurers and TAL’s technical operations teams
• Oversight an of TAL’s claim recovery processes to ensure timely settlements, ongoing monitoring and reporting of outstanding balances and issues
• Management of the reinsurance impact all remediation initiatives including proactively engaging reinsurers and internal TAL teams (Claims, Underwriting, Legal and Actuarial etc) to settle complex cases and disputes to ensure fair outcomes are achieved.
• Continuous review and identification of operational risk and process enhancement across the business e.g. Claims, Underwriting, Policy alterations, reinstatements, etc.
• Representing Reinsurance on internal and external TAL projects as a Subject Matter Expert to ensure potential risks and issues are identified, quantified, managed and escalated where appropriate internally and externally (with reinsurers)
• Support Senior Reinsurance Operations Manager, Senior Reinsurance Treaty Manager, Head of Reinsurance, Head of Reinsurance Operational Excellence & Change, GM and Line 1 and Line 2 Risk teams in respect of operational matters including treaty implementation, process review and investigation
• Provide reinsurance insight and assistance to the Products, Underwriting, Claims and Technology teams in respect of product, pricing or other ad hoc requests
• Preparation of monthly debtors reports, monthly remediation dashboards and provision of reinsurance insights as required
• Proactive management of all reinsurer led audit activity including responsibility for ongoing liaison with the reinsurer at all stages of the audit, and management of agreed actions arising from the audit.
• Ongoing management of Treaty Repository

Requirements

• Minimum 5 years working experience in a Reinsurance Operational team
• Demonstrated commercial acumen and ability to efficiently prioritise the deployment of resources applying a risk based approach
• Demonstrated ability to think beyond own immediate area of responsibility and assess the reinsurance impact of processes taking place in other TAL teams/business unit
• Proactive approach to the identification and resolution of issues impacting all aspects of TAL’s reinsurance arrangements, including proactive engagement with relevant internal and external stakeholders as required
• Excellent knowledge of life insurance product range, underwriting, operations and claim processes
• Strong knowledge and understanding of the life insurance industry and strong awareness of life insurance/reinsurance and accounting principles
• Strong analytical and numerical skills with high level of attention to detail and ability to enhance controls and checking processes
• Proven leadership skills, ability to effectively delegate tasks, prioritise work, manage and monitor direct reports to deliver team objectives
• Excellent communication ability (written and verbal) and effective stakeholder management