AVP, Corporate Ceded Reinsurance

About Us

Odyssey Reinsurance Company (OdysseyRe) is the global reinsurance arm of Odyssey Group, one of the world’s leading providers of reinsurance and specialty insurance. OdysseyRe offers a broad range of property, casualty, and specialty reinsurance products, providing capital and risk management solutions for clients to efficiently manage economic risk, through a network of branch and representative offices across North America, Latin America, EMEA (Europe, Middle East & Africa), AsiaPacific and London.

OdysseyRe is an equal opportunity employer with excellent benefits and a strong commitment to providing training and opportunities for our staff. We provide employees an innovative, enriching environment and take great pride in their career growth.

OdysseyRe is rated A+ (Superior) by AM Best and AA- (Very Strong) by Standard and Poor’s. Odyssey Group is a subsidiary of Fairfax Financial Holdings Limited, which is traded on the Toronto Stock Exchange under the symbol FFH.

Position Summary

The Corporate Ceded Reinsurance AVP is responsible for managing the corporate retrocession reinsurance team and the accounting and administration of intercompany and Fairfax affiliate reinsurance contracts and 3rd party reinsurance contracts. The successful candidate is expected to be an expert in reinsurance accounting, particularly ceded/retro. This position will also be expected to maintain and/or manage the following:

• Global Cat retrocessional program
• Run Off retrocessional programs
• Fairfax Internal Reinsurance Vehicle (“FIRV”) accounting and administration (assumed and ceded)
• Consolidated ceded results analysis
• Ceded reinsurance collateral requirements
• Ceded Budgets
• Quarterly / Annual Statement Reporting requirements
• Fairfax quarterly reporting requirements

Essential Duties

• Reviews treaty structures and wording including renewal submission data

• Reviews existing processes and procedures and makes recommendations to enhance efficiencies
• Manage the Global quarterly collateral requirements
• Liaison and support the Mexico accounting team concerning Latin American retro covers
• Supervising the billing and collection of retro recoveries and identifying collection issues and recommending appropriate action to be taken
• Calculation of recoveries / reinstatement premiums
• Quarterly responsibilities, including but not limited to:
  • Consolidation of ceded results for all Odyssey branches
  • Preparation of Schedule F and Bad Debt
  • Ceded budgets and outlooks
  • Ceded collateral requirements
  • Balance sheet reconciliation
  • Cat Review Autopsy Reports
• Annual responsibilities, including but not limited to:
  • ORH consolidated ceded LOB reporting
  • Preparation of various notes to the financials
  • Preparation of Schedule F and Bad Debt
• Interact with senior management / department heads of legal, actuarial, claims, accounting and corporate accounting and external audit

Skills, Knowledge and Abilities

• Knowledge of pro rata and excess of loss reinsurance contracts, facultative certificates and general understanding of reinsurance treaty wording required
• Strong analytical and decision-making skills
• Ability to effectively and independently manage workload while exhibiting sound judgment
• Exceptional presentation and communication skills, both written and verbal
• Strong communication skills and ability to effectively interact with all levels of internal and external business partners.  Must be comfortable interacting on phone as well as in person with reinsurance brokers and markets
• Strong knowledge of insurance/reinsurance terminology
• Proficient in computer programs used for completing the duties described above, such as Microsoft Excel, Word, Outlook, etc. 

Education and Experience

• A Bachelor’s degree in finance/accounting or equivalent work experience.
• 10 years of previous experience in reinsurance accounting. Extensive understanding of reinsurance accounting concepts or techniques.

Supervisory Responsibilities  

• This position has staff supervisory requirements.

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