SCOR
VP, Reinsurance Contract Counsel
SCOR, New York, New York, us, 10261
Job Description
Job Summary
The role holder will be responsible for: Providing legal guidance and support re: any assigned P&C transactional and underwriting matters (including detailed contract wording review and editing and developing preferred SCOR P&C contract language) for the Americas, EMEA and, bandwidth permitting, other geographies as needed (with a focus on reinsurance and alternative solutions). Supporting product development and the entry into any new lines of business, notably by providing contractual support to P&C treaty and specialty underwriters (e.g., policy/contract wordings, program agreements/business, third-party administrator agreements, non-disclosure agreements, etc.). Supporting the development of protocols and guidelines to be embedded into the P&C business unit to ensure there are institutional best practices. Providing the required legal support and expertise to support the development and roll-out of the P&C sections of SCOR's contract wording tool, in coordination with business wording experts, P&C leadership and the P&C Legal community. Providing support (as needed) to the Chief (and Deputy Chief) Claims Counsel re any claims/coverage related issues arising from drafting/wording issues and coordinating with P&C teams on lessons learned and their impact on contract wording going forward. Developing and conducting trainings to the underwriter community. Monitoring, understanding, analyzing, and proactively developing P&C's contract wording responses to emerging (re)insurance issues and trends, requiring an awareness and understanding of global developments and trends. The role holder will be commercial and pragmatic and will understand the impact of market conditions on treaty and direct (specialty) insurance activities, procedures and wordings, while being able to clearly and succinctly articulate issues to the underwriting community (and management), to evaluate the risks associated with the (re)insurance activities and to develop commercial risk mitigation options, while ensuring all operations are compliant with applicable regulatory requirements.
The role holder will be enthusiastic about supporting the activities of the P&C Business Unit globally and across all business activities and providing general support to the Legal and Compliance functions for P&C as time and experience permits.
The role holder will report directly to the P&C Americas Chief Legal Counsel and will also interact extensively with the P&C business unit's Chief Legal Counsel and other P&C legal colleagues within the group.
Responsibilities
Key duties and responsibilities
Providing timely, succinct, practical and commercial advice across all topics - as P&C's business grows in other regions, the role holder will be expected to provide support in coordination with peers and local councils, time permitting. Provide wording and contracting support and guidance to the Americas and EMEA's P&C Treaty, Alternative Solutions (working with the dedicated Alternative Solutions (EMEA based) counsel) and Single Risk Underwriting Teams. Support the development of lessons learned and implementation of a process to capture and respond to wordings issues. Support the development, population, and maintenance of the P&C elements of SCOR's contract wording tool to be built-out in 2024 and 2025. This role is made for somebody with strong (re)insurance contract wording skills and experience and who is capable of operating autonomously, with guidance from their peers, and is excited about working directly with the business and driving legal issues to completion. Some prior relevant experience is required, but a capability to develop new skills, self-teach, learn and grow with the business will make the role holder successful in the long-term. A proven self-starter who takes the initiative and can act independently when needed and make their own decisions, while keeping relevant stakeholders advised and involved and operating within internal governance requirements and guidelines. The ability to swiftly identify and analyze issues, proposals and to roll out relevant solutions after appropriate approvals. Strong written and oral communication skills, the ability to determine how and when to develop/sustain a message and/or an idea and the ability to deploy the right tools to present information. An ability to promptly make decisions and/or to roll out decisions, reflecting all available information and appropriate risk assessments. An understanding of the P&C business drivers and the ability to identify and raise critical issues/points when needed; a willingness to "own" and to swiftly correct (if needed) their decisions; and, accepting and actioning responsibility regarding cost management Both the P&C business and Legal teams are small, such that collegiality, efficiency, proactivity and curiosity are key to the role holder's success. An appetite for learning and developing themself in their field and dedicating up to 20% of their time on matters outside of their primary expertise. Experience with Latin America's market is a plus - but not required. A proficiency in Spanish or Portuguese is a plus - but not required. Ideally 6+ years of experience. Qualifications
Required Education
J.D. from an accredited law school or international equivalent. Licensed to practice and a member in good standing/the ability to immediately reactivate membership in at least one US state.
Hybrid Work Policy:
SCOR is committed to an "in-office" culture where people can collaborate, exchange ideas, and establish stronger working relationships while still providing flexibility. To support employee work-life balance and increase opportunities for employees to excel every day, SCOR operates with a hybrid working arrangement. SCOR employees work 3 days per week in an office with the flexibility to work 2 days per week remotely.
"In compliance with local law, we are disclosing the compensation, or range thereof, for roles that will be performed in New York. Actual salaries may vary based on various factors including but not limited to location, experience, role and performance. The range listed is just one component of SCOR's total compensation package for employees. Pay Range: $220,000 - $250,000 salary per year. Other rewards may include annual bonuses, short- and long-term incentives. In addition, we provide a variety of benefits to employees, including health insurance coverage, life and disability insurance, a retirement saving plan, paid holidays and paid time off."
About Us
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying "The Art & Science of Risk," SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.
Working at SCOR means engaging with some of the best minds in the industry - actuaries, data scientists, underwriters, risk modelers, engineers, and many others - as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by "The SCOR Way." Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.
Job Summary
The role holder will be responsible for: Providing legal guidance and support re: any assigned P&C transactional and underwriting matters (including detailed contract wording review and editing and developing preferred SCOR P&C contract language) for the Americas, EMEA and, bandwidth permitting, other geographies as needed (with a focus on reinsurance and alternative solutions). Supporting product development and the entry into any new lines of business, notably by providing contractual support to P&C treaty and specialty underwriters (e.g., policy/contract wordings, program agreements/business, third-party administrator agreements, non-disclosure agreements, etc.). Supporting the development of protocols and guidelines to be embedded into the P&C business unit to ensure there are institutional best practices. Providing the required legal support and expertise to support the development and roll-out of the P&C sections of SCOR's contract wording tool, in coordination with business wording experts, P&C leadership and the P&C Legal community. Providing support (as needed) to the Chief (and Deputy Chief) Claims Counsel re any claims/coverage related issues arising from drafting/wording issues and coordinating with P&C teams on lessons learned and their impact on contract wording going forward. Developing and conducting trainings to the underwriter community. Monitoring, understanding, analyzing, and proactively developing P&C's contract wording responses to emerging (re)insurance issues and trends, requiring an awareness and understanding of global developments and trends. The role holder will be commercial and pragmatic and will understand the impact of market conditions on treaty and direct (specialty) insurance activities, procedures and wordings, while being able to clearly and succinctly articulate issues to the underwriting community (and management), to evaluate the risks associated with the (re)insurance activities and to develop commercial risk mitigation options, while ensuring all operations are compliant with applicable regulatory requirements.
The role holder will be enthusiastic about supporting the activities of the P&C Business Unit globally and across all business activities and providing general support to the Legal and Compliance functions for P&C as time and experience permits.
The role holder will report directly to the P&C Americas Chief Legal Counsel and will also interact extensively with the P&C business unit's Chief Legal Counsel and other P&C legal colleagues within the group.
Responsibilities
Key duties and responsibilities
Providing timely, succinct, practical and commercial advice across all topics - as P&C's business grows in other regions, the role holder will be expected to provide support in coordination with peers and local councils, time permitting. Provide wording and contracting support and guidance to the Americas and EMEA's P&C Treaty, Alternative Solutions (working with the dedicated Alternative Solutions (EMEA based) counsel) and Single Risk Underwriting Teams. Support the development of lessons learned and implementation of a process to capture and respond to wordings issues. Support the development, population, and maintenance of the P&C elements of SCOR's contract wording tool to be built-out in 2024 and 2025. This role is made for somebody with strong (re)insurance contract wording skills and experience and who is capable of operating autonomously, with guidance from their peers, and is excited about working directly with the business and driving legal issues to completion. Some prior relevant experience is required, but a capability to develop new skills, self-teach, learn and grow with the business will make the role holder successful in the long-term. A proven self-starter who takes the initiative and can act independently when needed and make their own decisions, while keeping relevant stakeholders advised and involved and operating within internal governance requirements and guidelines. The ability to swiftly identify and analyze issues, proposals and to roll out relevant solutions after appropriate approvals. Strong written and oral communication skills, the ability to determine how and when to develop/sustain a message and/or an idea and the ability to deploy the right tools to present information. An ability to promptly make decisions and/or to roll out decisions, reflecting all available information and appropriate risk assessments. An understanding of the P&C business drivers and the ability to identify and raise critical issues/points when needed; a willingness to "own" and to swiftly correct (if needed) their decisions; and, accepting and actioning responsibility regarding cost management Both the P&C business and Legal teams are small, such that collegiality, efficiency, proactivity and curiosity are key to the role holder's success. An appetite for learning and developing themself in their field and dedicating up to 20% of their time on matters outside of their primary expertise. Experience with Latin America's market is a plus - but not required. A proficiency in Spanish or Portuguese is a plus - but not required. Ideally 6+ years of experience. Qualifications
Required Education
J.D. from an accredited law school or international equivalent. Licensed to practice and a member in good standing/the ability to immediately reactivate membership in at least one US state.
Hybrid Work Policy:
SCOR is committed to an "in-office" culture where people can collaborate, exchange ideas, and establish stronger working relationships while still providing flexibility. To support employee work-life balance and increase opportunities for employees to excel every day, SCOR operates with a hybrid working arrangement. SCOR employees work 3 days per week in an office with the flexibility to work 2 days per week remotely.
"In compliance with local law, we are disclosing the compensation, or range thereof, for roles that will be performed in New York. Actual salaries may vary based on various factors including but not limited to location, experience, role and performance. The range listed is just one component of SCOR's total compensation package for employees. Pay Range: $220,000 - $250,000 salary per year. Other rewards may include annual bonuses, short- and long-term incentives. In addition, we provide a variety of benefits to employees, including health insurance coverage, life and disability insurance, a retirement saving plan, paid holidays and paid time off."
About Us
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying "The Art & Science of Risk," SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide.
Working at SCOR means engaging with some of the best minds in the industry - actuaries, data scientists, underwriters, risk modelers, engineers, and many others - as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by "The SCOR Way." Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration.