Stonehaven - Chief Risk Officer

Overview

The organization is seeking a Chief Risk Officer to lead risk, actuarial, and reinsurance strategy for Stonehaven Specialty Insurance Company, a third-party hybrid fronting carrier.

This role reports to the President and serves as one of Stonehaven’s independent control functions, with direct access to the Board of Directors. The Chief Risk Officer leads the enterprise risk, actuarial, reinsurance, and counterparty credit functions, and holds an equal seat with the Chief Program Officer and Chief Operating Officer in determining which programs Stonehaven supports.

Responsibilities

• Draft Stonehaven’s risk appetite statement covering program risk, counterparty risk, concentration, and retained underwriting risk, including the exception and breach-escalation processes.
• Build and own the enterprise risk management framework and ORSA, using a three-lines-of-defense model; manage quarterly risk attestations from senior leaders.
• Conduct stress testing for:
  • counterparty default
  • collateral failure
  • rating downgrades
  • losses exceeding reinsurance caps
• Lead the actuarial function:
  • validate third-party bordereaux data
  • set expected loss ratios and development patterns before each program onboards
  • monitor actual-versus-expected results quarterly
  • reserve gross, ceded, and net; ensure net reserved is independently set
• Ensure retained share and any tail re-assumed above treaty caps are reserved and capitalized to full-carrier standards.
• Set reinsurance strategy, including:
  • preferred treaty wording on security, downgrade, offset, insolvency, and dispute resolution
  • risk-transfer testing to preserve statutory credit
  • placements that keep net retention within appetite
• Independently approve every reinsurer and collateral provider, including capacity that arrives attached to a program.
• Own the Third-Party Credit Risk Policy across reinsurers, MGAs, TPAs, captives, banks, and intermediaries, including:
  • credit standards
  • hard concentration limits
  • the counterparty risk register
  • the Watch List
• Require independent verification of all collateral, including confirmation letters of credit with issuing banks and trust assets with trustees.
• Maintain collateral sufficiency with defined top-up triggers.
• Assess each proposed program for actuarial soundness, risk-appetite fit, and secured reinsurance capacity before business is written, as a member of the Program Underwriting Committee.
• Lead the Risk & Capital and Reinsurance Security Committees; report risk, counterparty, and collateral status to the Board.
• Support the Reserve Committee and the independent actuary’s annual statement of opinion.
• Partner with Finance on Schedule F, RBC, and AM Best BCAR impact of reinsurance and collateral decisions.
• Partner with Technology on the contract management system, collateral register, and concentration monitoring.
• Build and lead the risk organization, including actuarial, reinsurance and counterparty risk, portfolio and catastrophe risk, and risk data and reporting.

Requirements

Must Haves

• 15+ years in P&C actuarial, reinsurance, or enterprise risk, including senior leadership at a carrier, fronting carrier, or reinsurer.
• Associate of the Casualty Actuarial Society.
• Direct experience structuring and negotiating reinsurance treaties, including capped quota shares, sliding-scale commissions, and collateralized capacity.
• Demonstrated counterparty credit and collateral risk management, including collateral verification, concentration limits, and watch-list governance.
• Ownership of an ERM framework and ORSA, with board-level risk reporting.

Preferred Qualifications

• FCAS, CPCU, CERA, or FRM.
• Prior experience at a fronting, hybrid fronting, or program carrier.
• Experience with captive, ILS, or other collateralized reinsurance capacity.
• Experience working with rating agencies and regulators on capital and risk matters.

Compensation & Benefits

• Base salary range: $250,000–$550,000.
  • This is a good-faith compensation range based on what the organization reasonably expects to pay for this position at the time of this posting.
  • Actual compensation may vary based on experience, qualifications, and geographic location.
• Equity: eligible to participate in the organization’s equity incentive program.

US 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.
• Additional financial protection and retirement benefits, including a 401(k), company-paid life insurance, and disability coverage.

Location

• Fully remote (US).

Work Authorization (United States)

This position is open only to candidates who are authorized to work in the United States without the need for current or future employer-sponsored work authorization. Sponsorship is not available.

Additional Notes

• Artificial Intelligence (AI) may be used as part of the job application process to support evaluation; hiring decisions are made by human recruiters.
• If you need a reasonable accommodation or an alternative review process due to a disability or other legally protected basis, contact the organization to request an accommodation. Requesting an accommodation will not negatively affect your application.