Consult, Prog Und-Mgmt Spec Ln (MLS- Programs Consultant)
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Information above the asterisks is specific to this opening, while the information below the asterisks is the corporate job description for this position*
The qualified candidate will have:
- 5+ years of professional liability insurance underwriting experience
-Specialty lines experience in professional and management liability; background in transactional risk and financial institutions D&O/E&O a plus.
Flexibility for travel to agency partners at least monthly, including overnights
The ability to understand financial statements and underwrite financial insurance policies
*This is a full time employment individual contributor senior level consultant position. May be filled at either the Specialist or the Sr Underwriter level depending on the qualifications and related experience of the chosen applicant.
Compensation Grade: G.SD140
JOB SUMMARY: Responsible for reviewing and analyzing numerous, highly complex lines of business (e. g. including D&O, E&O, Employment Practices Liability, Medical Professional Liability, Contractual Liability and Cyber Liability). Underwrites individual risk for acceptability, pricing, coverage, terms and conditions. Leads in the development and integration of new and existing programs; identifies new program opportunities. Responsible achieving established goals for assigned programs. Acts as a subject matter expert in the development, improvement, and implementation of program best practices. Participates in making reinsurance decisions; assist in developing and implementing loss control and risk management strategies. Collaborates between business units for development and implementation of program specific tools (i. e. underwriting guidelines, forms/rate filings, etc. ) for new programs or modifications to existing programs. Communicates program updates to program managers and other business liaisons. Establishes and maintains effective relationships with internal business liaisons, external program managers, and brokers in order to generate premium dollars and profitability. Responsible for the training and mentoring of underwriting team members.
REPORTING RELATIONSHIPS: Reports to Director/AVP. Acts primarily as an individual contributor; may have three or less direct reports.
Provides input and data to help drive and implement strategic underwriting plans. Provides business forecasting related to trends, and profitability within region/channel. Responsible for achieving established goals for assigned programs.
Analyzes general agency and brokerage relationships/results and recommends corrective actions if necessary. Understands business needs and identifies new business opportunities.
Reviews highly complex (e.g. including D&O, E&O, Employment Practices Liability, Medical Professional Liability, Contractual Liability and Cyber Liability) individual risks, programs, or referrals within assigned territory from brokers and either declines or accepts business based upon information necessary to make the decision. Acts as a subject matter expert in analyzing exposures to losses; develops adequate premium charge for the exposure. Determines appropriate endorsements and exclusions to address loss exposures for the insurance contract.
Actively engages in discussions with re-insurers per department guidelines verifying the appropriate use of all reinsurance facilities used by the department, including various treaty, semiautomatic and facultative reinsurance. Responsible for compiling data to be provided for reinsurers presentations. Maintains good working relationship with re-insurers.
Develops and implements underwriting guidelines, rates, forms, product endorsements and procedures. Assists in the development of department policies and underwriting and best practices.
Interacts with various business units (i.e. claims, actuary, compliance, etc.) to achieve company goals and objectives. Acts as an internal consultant responsible for resolving escalated issues and communicating to business liaisons and external sources regarding program initiatives.
Responsible for audits of individual risks/programs for compliance with company guidelines, state regulations and reinsurance conditions. Development and implementation of specific action plans may be required. Responsible for the resolution of escalated complex technical.
Independently establishes and maintains effective relationships with Brokers and Program Managers in order to generate premium dollars and profitably. Travels to broker offices, existing and potential program mangers offices, as required for marketing visits. Frequently entertains Brokers and Program Mangers to market services and ensure strong relationship to write business.
Leads in the implementation of all new programs from development of underwriting guidelines, form/rate filings, compliance/regulatory matters, finance, reinsurance, claims, legal, accounting, actuarial and marketing matters to ensure proper program integration.
Attends industry functions to promote FS brand and capabilities of the programs team in order to help identify new program business opportunities.
Acts as a resource for direction, training and guidance for less experienced staff. May be responsible for underwriting and support staff.
Maintains knowledge of insurance regulations; provides consulting regarding legislation that impacts the organization.
Performs other duties as assigned.
Education: Undergraduate studies with focus in Finance, Accounting Economics, and/or Risk Management. Masters level degree preferred.
Experience: Typically five or more years related experience as a Professional, Financial and/or Specialty lines underwriter. Program leadership experience in professional lines of business is preferred. Some experience in the technical aspects of data management, imaging and procedures and processes helpful.
Knowledge: Demonstrated knowledge of Professional, Financial, and/or Specialty lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. Strong understanding of financial statements, financial analysis, investments, market conditions essential. Legal knowledge related to insurance, contract and business law preferred. Understanding of employment principles and practices.
Skills/ Competencies: Must possess strong verbal and written communication skills to interact with internal/external business partners at all levels. Must have skills to influence and negotiate with internal/external business partners at all levels. Must have the ability to manage large programs; develop and apply innovative approaches to program initiatives and problem solutions. Demonstrated ability to analyze and interpret mathematical, statistical and logical data, and evaluate its reliability and significance. Must have project and process management skills. Must have ability to evaluate, analyze and devise solutions to complex programs; implement the most appropriate solution and monitor the effectiveness. Ability to support numerous internal/external business partners and make decisions that reflect the goals of the company, both financially and ethically. Ability to lead, train, motivate employees and set work priorities. Ability to use/learn job related software.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Staffing Exceptions to the above minimum job requirements must be approved by: Senior VP and HR Consultant.
Job Conditions Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Job Evaluation Activity: Created 04/2012 JC
Additional Job Description
Manage specialty lines products and programs
Underwrite complex management and professional lines accounts
work with program managers on portfolio analytics
Job ID: 53086
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