VP, Senior Managing Director

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Direct message the job poster from Old Republic Specialty Insurance Group

Reports To: SVP, Underwriting/COO ORAMCO

Department: Old Republic Allied Management Company (ORAMCO)

Location/Schedule: Chicago/Hybrid, 3 days in-office

Classification: Full-Time/Exempt

Who We Are:

Old Republic International Corporation (ORI), which traces its beginning to 1923, is a Fortune 500 company and one of the nation’s 50 largest shareholder-owned insurance organizations. Our subsidiaries actively market, underwrite and provide risk management services for a wide variety of coverages, mostly in the general and title insurance fields.

Our Mission is to provide quality insurance security and related services to businesses, individuals and public institutions, and be a dependable long-term steward of the trust that policyholders, shareholders and other important stakeholders place in us.

Position Overview:

The VP, Senior Managing Director will partner with the Chief Operating Officer of ORAMCO to provide directionand leadership for ORAMCO's expanding operations. ORAMCO provides underwriting and actuarial services for Old Republic Risk Management’s (ORRM’s) alternative risk insurance solutions for Commercial Automobile Liability, General Liability and Workers’ Compensation. The ideal candidate is a strategic, analytical leader that can fulfill the business’ goals.

Essential Job Functions:

Operational Leadership:

• Oversee Actuarial Services and Underwriting Operations within ORAMCO.
• Assist in monitoring loss reserve development within ORRM’s Casualty treaty.
• Set and monitor pricing objectives to ensure ongoing profitability including actuarial and underwriting processes.
• Report the impact of accounting and financial decisions on operations.
• Conduct underwriting peer reviews for Old Republic’s operating companies.
• Assist operating companies in underwriting and pricing to ensure appropriate risk selection and pricing methodologies are implemented.

Strategic Planning & Execution:

• Develop and implement long-term and short-term strategies, objectives, and action plans with senior leadership.
• Execute specific strategies for operational efficiency, including claims, underwriting, actuarial, reinsurance, staffing, etc.
• Review financial and operational information to determine progress and status in achieving ORAMCO's profitable growth goals.
• Analyze varied financial and operational data, estimate future industry trends, and incorporate information to determine strategies in accomplishing profitable growth goals.

Compliance & Risk Management:

• Mitigate risk exposures within established tolerances by operating within Old Republic’s Enterprise Risk Management strategy.
• Lead large complex account roundtables to provide guidance and expertise related to risk assessment and pricing strategies.
• Interface with Legal departments to ensure operational risks are managed within the appropriate legal framework.
• Ensure Human Resources' policies and processes are appropriately balanced with business needs.
• Provide strategic direction and leadership to the Actuarial and Underwriting teams, setting clear goals, and performance expectations.
• Foster a culture of continuous improvement and innovation, encouraging collaboration and teamwork across departments.
• Mentor and develop team members to enhance skills and knowledge. Provide appropriate learning opportunities and knowledge transfer as needed.
• Lead cross-functional project teams to help ensure timely delivery of initiatives.

Qualifications:

• Bachelor's degree in Economics, Business Administration/Management, or related field. MBA or CPCU designation preferred.
• Minimum 10 years of insurance business operations experience. Large casualty deductible underwriting experience preferred.
• Ability to analyze varied financial and operational data, estimate future industry trends, and incorporate information to determine strategies in accomplishing profitable underwriting and objectives.
• Strong analytical and strategic thinking skills, with the ability to translate insights into actionable growth strategies.
• Ability to maintain a high level of confidentiality related to the Company’s proprietary information and to all duties and responsibilities.
• Ability and skill in making creative, informative and effective decisions. Operating within the Company guidelines to achieve the Company objectives.
• Ability to remain calm, effective, and professional during peak and other periods of activities.
• Demonstrated ability to manage multiple high-priority projects concurrently, effectively set priorities, and consistently meet tight deadlines.
• Strong communication and interpersonal skills with the ability to effectively convey information at all organizational levels, both verbally and in writing.
• Buy into Old Republic’s management philosophy for managing the business for the long run.

ORI is an Equal Opportunity Employer. ORI provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

Seniority level

• Seniority level

  Executive

Employment type

• Employment type

  Full-time

Job function

• Job function

  General Business

• Industries

  Insurance

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Inferred from the description for this job

Medical insurance

Vision insurance

401(k)

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