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US Senior Contracts Attorney

  • Location:

    New York

  • Sector:

    Legal

  • Job type:

    Permanent

  • Salary:

    US$200000 - US$250000 per annum + bonus, pension, healthcare, remote

  • Contact:

    Declan Frith

  • Contact email:

    Declan.Frith@oliverjames.com

  • Job ref:

    JOB-112024-263963_1731966209

  • Published:

    26 dagen geleden

  • Expiry date:

    2024-12-18

US Contracts Counsel, Contract Negotiation, MGA, Reinsurance Contracts

SENIOR US CONTRACTS COUNSEL

We have partnered with a new P&C carrier, who are seeking a highly specialised US Contracts Counsel to join their growing business and new team.

The Role

In this role, you will be responsible for the US Contracts for Program Business, with a principal responsibility of overseeing the contracts team and production of Contracts to ensure that these are within the appropriate risk tolerance of the Business and providing the exceptional standards of contract excellence and service in line with the Group's philosophy.

The overall purpose of the role is to manage the scheduling and the capacity of the contracts team, as well as draft, review, analyze and negotiate contract and policy documentation (including clauses and endorsements) arising from the activity of the US Program Business on program facilities and as otherwise may be required, ensuring that they are fit for purpose, clear, compliant and appropriate for the class of business and territory. The role will include a high level of face-to-face negotiation with third parties and managing and supporting other team members to ensure that the objectives of the contracts team are met.

Key Responsibilities

Supporting the US Program Business by:

  • Reviewing documentation associated with prospective and approved opportunities
  • Negotiating all types of agreements with MGAs, TPAs, intermediaries and reinsurers
  • Ensuring documentation complies with relevant law and regulation, consistent with commercial appetite and underwriting and claims philosophies
  • Drafting, reviewing and negotiating:
  • MGA agreements and related documentation ensuring conformity with the program's reinsurance arrangement and the Company's risk appetite;
  • Outwards reinsurance documentation that provides quota share, excess of loss or stop loss protections to the above, ensuring coordination alignment with the underlying Policy wording and MGA agreements
  • Ad hoc agreements with Intermediaries, including but not limited to Terms of Business Agreements
  • Allocation of responsibilities for programs
  • Design of contracts process and draft/revise manual
  • Responding to contracts related External and Internal Audit findings, and managing resolutions
  • Design of Standard contract wordings
  • Literal oversight, relationship management and training (internal and External)

The role specifically includes:

  • Working with functions across the global business to understand contracts requirements
  • Drafting, reviewing and negotiating agreements entered into by the Company with MGAs throughout the US to ensure they meet business, legal and regulatory requirements.
  • Reviewing the reinsurance agreements that protect the Company to ensure legal and regulatory compliance and to ensure there are no gaps between the inwards and outwards coverage or conditions (full follow the fortunes basis)
  • Liaising with brokers, reinsurers, MGAs and other such parties to ensure the best outcome for the Company at the outset of the discussions and through the period of the agreements and policies.
  • reviewing MGA or broker produced wordings to ensure consistency with intended coverage and identifying exposures or issues so to provide informed advice to the Company.
  • To review TOBAs between MGAs and brokers or between the companies and brokers.
  • To act as a technical reference point on contracts and coverage for all states and business lines accepted by the Company.
  • Keep up to date with new products and business opportunities and monitor market, legal and regulatory changes which may affect contracts.
  • To act always in accordance with the Company's and the Accredited Group's code of conduct and best practice standards.

Skills/ knowledge required:

  • Experience of a diverse range of policyholders, both consumer and non-consumer
  • Experience of MGA agreements and reinsurance contracts
  • Sound understanding of general insurance, insurance law, regulation, and market practice as they relate to products
  • Good knowledge of market wording databases
  • Strong collaboration ethic
  • Excellent written and presentation skills
  • Excellent client management skills
  • Ability to work under pressure and meet tight deadlines
  • Strong planning and organization skills with excellent follow up and diary management
  • Good communicator both verbally and in writing

Education/ experience:

  • JD
  • Licensed Attorney for 5yrs (ideally close to 8-10yrs).

This is a FULLY REMOTE opportunity and the chance to work with a new, growing business and industry leaders who are growing out a very impressive business and have a clear, ambitious and impactful growth strategy.

If interested, please reach out for a confidential call to discuss next steps accordingly.

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