Reinsurance Wordings Specialist

Overview

Join Our Team

As our Sr. Reinsurance Contract Wordings Specialist
, you will provide contract wordings, advice, and guidance to support the risk appetites, aspirations and growth plans of Sirius Point. This includes reviewing, drafting, and negotiating contract wordings to ensure alignment with Sirius Point's strategic objectives and appetites, promoting consistency across product lines and platforms, and delivering best practice reviews to empower underwriters and ensure compliance with the company's risk appetite, legal, and regulatory requirements.

You will report to the Associate General Counsel, Head of P&L Support within Legal & Compliance.

• Review, draft, and negotiate inwards treaty reinsurance and retrocession contract wordings to ensure alignment with Sirius Point's strategies and appetites.
• Promote consistency in wordings across product lines and platforms, in conjunction with client and business segment strategies.
• Deliver best practice and minimum standard reviews to empower underwriters, ensuring compliance with the company's risk appetite, legal, and regulatory requirements.
• Assist in the review and drafting of outwards reinsurance and internal reinsurance contracts, and in the development of Sirius Point standard clauses.
• Stay updated on insurance/reinsurance rulings, legal, regulatory, and emerging issues, modifying or creating new wordings as necessary.
• Communicate and collaborate with other business areas, including underwriting, pricing, claims, legal, finance, and compliance.
• Investigate opportunities to enhance team workflow, contract review, and reporting capabilities.
• Drive process improvement and innovation.
• Develop specialized knowledge of particular lines of business or structures.
• Maintain current knowledge of reinsurance and insurance industry issues and contract/policy wording.
• Update standard contract templates and draft reinsurance contracts, endorsements, and agreements based on corporate standards and client clauses.
• Analyze contract provisions, identify non-standard wording, and suggest alternatives.
• Review market-produced reinsurance contracts against corporate standards and agreed terms.

• College or University degree required.
• CPCU designation, ARe designation, or JD degree is a plus.
• Extensive experience in contract wordings or as a qualified solicitor, preferably within a (re) insurance company, broking, or legal environment.
• Strong analytical, critical thinking, negotiation, and interpersonal skills.
• Ability to work independently and collaboratively, multitask, and perform in a fast-paced environment.
• High attention to detail and excellent communication skills.
• Proficiency in Word, Excel, SharePoint, and Outlook.
• Knowledge of contract clauses, reinsurance, and primary insurance standards and practices.
• Minimum of five years of experience in a Contracts Specialist, Underwriting, Legal, Claims, or similar position.

• Medical
• Dental
• Vision
• FSA Medical and Dependent care
• Health Savings Account (HSA)
• EAP
• Basic Life and AD&D (company paid)
• Basic Long-Term Disability (employer) paid-Taxable income
• Employee paid Long Term Disability(voluntary)
• Company Medical Leave, Parental leave- 8 weeks full pay after 6 months of service
• Voluntary benefits: short term disability, Critical illness, Hospital Indemnity, Accident
• Travel assistance programs Company paid
• 401(k) 6 % safe harbor match, fully vested after two years, pre- and post-tax contributions allowed
• Gym reimbursement
• Legal plan
• Pet Insurance
• Tuition reimbursement
• Generous PTO
• Flexible work arrangement
• Fully stacked pantry on-site
• Team outings
• ERG Groups