Job Description
Overview
The Reinsurance Contract Specialist supports the reinsurance underwriting function by managing, organizing and maintaining all treaty reinsurance contracts across Grinnell’s Farm Mutual and Broker Assumed Reinsurance Underwriting departments. The role focuses on managing the Assumed Reinsurance contract lifecycle, including updating and customizing treaty wordings, drafting amendments, endorsements and revised versions for special scenarios, and tracking contract documentation.
Grinnell Mutual has been recognized 14 years in a row for being one of Iowa's Top Workplaces, four years running as a national Top Workplace USA winner, and three years as an international Gallup Exceptional Workplace. Since 1976 Grinnell Mutual has been rated A (Excellent) or higher by AM Best. This position qualifies for our flexible workplace options. Work at our Grinnell, Iowa, headquarters or from a home office in any of the following states: Alabama, Arizona, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Virginia, Wisconsin, and Wyoming. Please note that candidates must be eligible to work in the U.S. without Grinnell Mutual sponsorship.
Responsibilities
- Maintain and update standardized excess of loss and pro-rata treaty contract templates and draft new contracts and endorsements.
- Maintain an organized repository of executed reinsurance contracts, amendments and endorsements.
- Track contract versions, status, and execution progress in coordination with underwriting, clients and brokers to ensure documentation completeness.
- Develop and maintain a library of common contract clauses by treaty type and market.
- Interpret complex contract language and advise underwriting, claims, and accounting teams on coverage intent, obligations, and exposures. Assist in adapting standard wordings to unique treaty structures.
- Support treaty negotiations and explain contract wording implications and propose alternative wording solutions.
- Serve as a subject‑matter resource and provide guidance or training to underwriting and operational teams as needed.
- Populate and complete treaty contract templates using bound terms and schedules.
- Ensure consistency across property and casualty treaty wordings and identify wording inconsistencies or gaps for underwriting review.
- Ensure compliance with internal underwriting guidelines, delegated authorities, and corporate governance requirements.
- Monitor evolving reinsurance market practices, emerging issues and contract trends, and recommend updates to contracts and standards.
- All other duties as assigned.
Qualifications
- Bachelor's degree from an accredited college or university with one (1) to five (5) years in property and casualty reinsurance or insurance contracts or related experience and a demonstrated skill set in best practices related to the reinsurance industry, or equivalent combination of education and experience.
- Prior experience in property and casualty treaty reinsurance, with a strong emphasis on contract wording and documentation, preferred.
- Understanding of treaty structures, coverage triggers, exclusions, limits, reinstatements, and reporting provisions.
- Demonstrated ability to interpret complex contract language and communicate technical concepts clearly to varied stakeholders.
- Experience working with reinsurance systems, contract repositories, or treaty administration platforms preferred.
- Strong organizational skills and ability to work independently and manage multiple priorities effectively.
- Excellent written communication skills with a high level of attention to detail.
- Industry designations (e.g. ARe, CPCU, ARM, CFA, CPA, FCAS) or actively pursuing industry designations a plus
- Must be able to maintain confidentiality and proprietary information.
- Requires regular and predictable attendance to meet the customer needs of the position.
- Demonstrated ability to adhere to all Grinnell Mutual policies.
- Demonstrated ability to incorporate Grinnell Mutual core values in all areas of work.
Compensation
The salary range for the position is $58,000 - $101,700. For a list of benefits, click here.
Working conditions and physical efforts
To perform this job successfully, an individual must be able to perform each job duty and responsibility satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform job duties and responsibilities.
- The Reinsurance Contract Specialist may be required to work outside of normal business hours including occasional weekends and extended hours to meet deadlines associated with the position
- The position can operate within a typical office setting located in an office or in a remote home office. The noise level in the work environment is usually quiet. The position requires an individual to sit for long periods of time. The position may require frequent and extended time on the telephone and visual acuity to work on the computer for extended periods of time.
- Frequently works with all levels of employees in the organization.
This job description is not intended to describe, in detail, the multitude of tasks that may be assigned, but rather to give the employee a general sense of responsibilities and expectations of his/her position. As the nature of the business demands change, so too may the job duties and responsibilities.
Originally posted on Himalayas
