Director of Credit & Collateral Risk

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🔥 2 minutes ago

🇺🇸 United States – Remote

💵 $200k - $450k / year

⏰ Full Time

🔴 Lead

🎲 Risk

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Ledgebrook

WebsiteLinkedInAll Job Openings

51 - 200 employees

Founded 2021

🛡️ Insurance

🤝 B2B

💸 Finance

💰 $65M Series C on 2025-07

Insurance • B2B • Finance

<Ledgebrook> is a tech-enabled Excess & Surplus (E&S) managing general agent (MGA) that provides fast, data-driven quoting and underwriting services to wholesale brokers. Ledgebrook combines a next-generation tech stack, modeling and analytics, and experienced underwriters to deliver rapid, streamlined submissions and casualty products such as general liability and professional liability.

📋 Description

• Maintain the Third-Party Credit Risk Policy, including credit standards, reinsurer credit tiers, concentration limits, and the exception process. • Perform independent due diligence and credit approval for reinsurers, captives, MGAs, TPAs, banks, premium finance companies, and surplus lines brokers. • Independently verify letters of credit with issuing banks and trust assets with trustees. • Size collateral, compare required and posted collateral monthly, and issue or escalate top-up demands. • Monitor the credit quality of letter-of-credit issuing banks and ensure eligibility. • Enforce concentration limits across reinsurers, collateral providers, banks, and programs. • Build and maintain counterparty credit risk, collateral, and aggregate credit exposure registers and dashboards. • Monitor rating alerts, independently sourced financial statements, recoverable aging, MGA premium trust accounts, and TPA loss funds. • Manage the Watch List, including triggers, required actions, exit plans, and Board notification. • Design and run credit stress scenarios for ORSA. • Present counterparty, collateral, and concentration status to committees and support Finance on Schedule F, RBC credit risk, and Form F disclosures. • Review material contracts with Legal for offset rights, collateral triggers, security interests, and termination for financial cause. • Report to the Chief Risk Officer and collaborate with Finance, Legal, Reinsurance, and program teams.

🎯 Requirements

• 10+ years in credit risk, reinsurance security, or counterparty risk at an insurer, reinsurer, rating agency, or financial institution. • Either an actuarial or accounting background. • Hands-on experience with collateral structures, including letters of credit and reinsurance trust accounts. • Strong financial statement analysis across insurers and non-insurance counterparties. • Working knowledge of statutory credit for reinsurance, Schedule F, and RBC credit risk charges. • Prior experience on a reinsurance security committee or at a fronting or program carrier (nice to have). • Experience evaluating captives, ILS vehicles, or other collateralized reinsurance capacity (nice to have). • Professional designation such as CFA, FRM, PRM, or CPCU (nice to have). • Experience building risk registers, dashboards, or credit monitoring tools (nice to have). • Must be authorized to work in the United States without current or future employer-sponsored work authorization.

🏖️ Benefits

• Full remote flexibility and asynchronous work culture. • Unlimited PTO and fully paid sick leave. • Comprehensive health benefits, including medical, dental, and vision coverage, plus HSA and FSA options. • 401(k). • Company-paid life insurance. • Disability coverage. • Equity incentive program.