Head of Reinsurance Operations

4 weeks ago

Mumbai, Maharashtra, India Aon Full time

Aon Job Description

Aon is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Job Dimensions (Role and Responsibilities):

Client Services Team

Key Responsibilities:

  • Lead the Treaty Reinsurance Business in India
  • Own and effectively manage business matters related to Issue resolution, Risk mitigation and Quality Control
  • Monitor and ensure team adherence to contractual terms, service level agreements held with Business Partners and regulatory requirements
  • Support cash flow management by regularly monitoring promptness of Broker Finalize emails and treaty submissions receipt, outstanding balances and unidentified cash
  • Individually, and with the Regional Team, build and maintain strong internal and Business Partners relationships via face-to-face meetings, conference calls and emails
  • Ensure Aon business and regulatory needs are met by responding to internal and external audit requirements with timely, accurate information
  • Obtain Compliance and Legal approval for third party co-brokerages and brokerage-only accounts pre-settlement
  • Engage with the Finance Team and Broking Team
  • Generate management reporting and data driven insights related to Business Partner Management
  • Ensure team's compliance to IRDAI requirements on funds payment timeline and receipt of funds acknowledgement
  • Decision making and processes are guided by company policy and values

Leadership & Management:

  • Proactively lead the team, manage workload distribution, and motivate them by ensuring a positive, safe, inclusive, empathetic, and supportive environment which encourages open two-way dialogue
  • Effective listening and constructive feedback, adapting own style to meet those of others
  • Develop core competencies and leverage individual strengths across the full team
  • Upskill self and team in using innovative problem solving to meet stakeholder needs
  • Work collaboratively with Regional Client Services on strategic/project planning and resourcing
  • Manage internal and external stakeholder expectations, provide Subject Matter Expertise on complex matters, and escalate matters as needed

Standardization, Process Efficiency and Advocacy:

  • Establish and Implement Standardization consistent with Aon's Global Standard and Market Best Practice while catering for Territory Specific nuances and Regulatory Requirement
  • Undertake data gathering and analysis to implement more efficient work practices and/or cost savings
  • Identify Market Trends and Insights for better decision making by internal and external stakeholders
  • Participate in Global Groups / Projects, ensuring Global Alignment
  • Establish and Drive Key Performance Indicators and SLAs while proactively leading the team to ensure accounts are serviced to a high standard and as per set turnaround times

Skills and Attitude:

  • Strong understanding of reinsurance contracts relating to premium, claims and credit control matters
  • Excellent organization, attention to detail, prioritization, and innovative problem-solving skills
  • Excellent verbal and written communication skills in English with ability to communicate complex concepts in a simple and effective way

Requirements:

  • Post Graduate with 10+ years' experience leading teams in the insurance or reinsurance industry
  • Logical, analytical, and resourceful mindset, able to exercise flexibility and judgement
  • Ability to deliver under pressure in a high intensity and fast paced multinational environment
  • Ability to maintain positive, professional relationships with multiple internal and external stakeholders across numerous territories
  • Ability to travel when required

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