Vice President - Facultative Reinsurance

Job Title: VP - Facultative Reinsurance

Location: Churchgate,Mumbai

Experience: 10+ years

Job Description:

One of our client is looking for an experienced and dynamic professional to join our team as Vice President (VP) - Facultative Reinsurance. This leadership role is ideal for individuals with a strong background in reinsurance, particularly facultative reinsurance, and a proven track record of managing complex transactions, guiding teams, and driving strategic decisions.

Key Responsibilities:

- Lead the facultative reinsurance team, overseeing all aspects of facultative reinsurance transactions and ensuring adherence to company policies and regulatory requirements.

- Manage the end-to-end process of facultative reinsurance placements, including underwriting, risk assessment, pricing, and negotiations.

- Drive and maintain relationships with key internal and external stakeholders, including brokers, reinsurers, and clients, ensuring the smooth flow of reinsurance transactions.

- Ensure compliance with all relevant regulations and accounting standards (including IRDAI/RBI guidelines) and manage the preparation of regulatory returns.

- Oversee the verification and reconciliation of facultative reinsurance documents, ensuring accuracy and compliance with terms and conditions.

- Provide strategic direction on reinsurance matters, resolve complex issues, and manage the reinsurance portfolio to optimize results.

- Support internal and statutory audits, addressing queries and providing feedback as required.

- Lead, coach, and mentor the facultative reinsurance team, ensuring continuous development and a high-performance culture.

- Drive process improvements and governance in the teams workflow to ensure timely, accurate, and efficient reinsurance operations.

- Take responsibility for the management of facultative reinsurance premium and claims transactions, ensuring proper reporting, invoicing, and settlement.

- Identify and resolve issues related to non-payments, delayed payments, and other irregularities.

Required Qualifications:

- A minimum of 10 years of experience in reinsurance, with at least 5 years in a leadership or managerial role within facultative reinsurance.

- Deep understanding of facultative reinsurance transactions, underwriting, and risk management.

- Strong knowledge of Indian accounting standards, regulatory requirements (IRDAI/RBI), and reinsurance industry practices.

- Proven experience in team leadership, with a focus on performance management, training, and development.

- Excellent communication, negotiation, and relationship-building skills.

- Analytical mindset with the ability to solve complex issues efficiently.

- CA (Chartered Accountant) or MBA in Finance, Risk Management, or related fields

- Bachelors degree in Business, Finance, or related fields; professional certifications in reinsurance (e.g., ACII) are a plus.