VP, Sr Property Power Underwriter, Cedant Fac Re, NA

About the role

SCOR has created a new Facultative Reinsurance team, to further our success in this market. Whilst Facultative underwriting is not new to us, our focused approach will help secure our position as a market leader. Creating this book of business, in collaboration with the wider Insurance and Reinsurance teams is where this role begins.

Responsibilities

• Strategic Client Engagement - Support the development & delivery of the regional facultative ceding strategy across your line of business through the origination of placements in line with capacity and risk appetite requirements
• Team Collaboration - Create strong, collaborative relationships with internal reinsurance & insurance leaders to drive the creation of profitable business, and ensuring SCOR is represented in an aligned manner to our clients
• Market Negotiation - Negotiate terms, pricing and conditions to secure and provide the best possible facultative reinsurance solutions
• Portfolio Optimization - Manage and renew an existing portfolio of facultative deals currently in place, assessing placements against our risk profile, identify exposures and optimize capacity allocation
• Analytics Discovery - Collaborate with analytics and risk modelling teams to determine optional facultative reinsurance needs based on exposure and loss scenarios
• Client Management - Maintain relationships with cedants and brokers, showcasing our position in the market, and additional value provided through our expertise
• Operational Excellence - Adequate deal documentation, including reporting, reserving and claims settlements in conjunction with the relevant departments
• Compliance - Ensure facultative placements meeting internal governance, compliance and regulatory requirements, firmly within our Internal Control Systems process and guidelines within the region
• New Market Ideation - Stay informed on market developments, pricing shifts, and capacity changes, using this market intelligence to optimize Facultative products, timing and portfolio management

Qualifications

• Degree in engineering, science, risk management, or insurance
• Minimum of 5 years of relevant industry experience in US facultative property underwriting, with a strong focus on Power as a dedicated sub-line of business
• Deep expertise in Power underwriting within Property, including thermal, hydro, renewable, and emerging energy risks, as well as xx risk programs; strong command of technical risk assessment, pricing, US regulatory requirements, and market best practices
• Advanced understanding of power-specific property exposures, including generation technology, fuel supply and transmission dependencies, machinery breakdown interfaces, natural catastrophe drivers, and business interruption/forced outage scenarios
• Engineering and construction experience is a plus, particularly in relation to power assets, EPC structures, DSU, commissioning, testing phases, and operational transition risk
• Extensive experience building, managing, and steering a facultative property book with a material power component through market cycles, including capacity deployment, line size optimization, accumulation management, and portfolio diversification
• Broad understanding of value creation across the end-to-end property underwriting process, including interaction with actuarial, accounting, legal, and regulatory functions, and their practical impact on power risk selection and structuring
• Demonstrated effectiveness working within matrixed organizations and fast-evolving international environments
• Well-established relationships with key broking and cedant partners in the property and power space, with credibility as a senior technical counterparty
• Proven proficiency in both experience-based and exposure-based rating methodologies for facultative property and power business
• Strong negotiation, presentation, and marketing capabilities, with the ability to clearly articulate power risk characteristics and property-based underwriting decisions to internal and external stakeholders