Nationwide
Sr. AVP, Crime and Fidelity Small Market Underwriting – E&S/Specialty
Nationwide, Rockaway, New Jersey, us, 07866
Sr. AVP, Crime and Fidelity Small Market Underwriting – E&S/Specialty
Job Description Summary: Are you a critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both analytical and creative abilities to make sound decisions, and help people solve real challenges, we want to know more about you. This role is responsible for setting, monitoring, achieving, and measuring established goals for the region or channel, developing and implementing strategic plans, and managing budgets and underwriting guidelines across regions or within the territory. Key Responsibilities
Develops and implements strategic underwriting plans. Provides business forecasting related to trends and profitability within region/channel. Directs the development, implementation and monitoring of underwriting guidelines, rates, forms, product endorsements and procedures. Monitors, approves and authorizes the preparation and use of rates, forms, and endorsement filings. Directs general agency and brokerage relationships/results, and recommends corrective action if necessary. Conducts regular visits with general agents/brokers to understand business needs and identify new business opportunities. Approves accounts which exceed underwriting staff’s authority due to level of complexity, premium, class of business or coverage provided. Maintains composition of designated book of business to achieve favorable results. Monitors performance and provides reports on regional/channel results and takes action as needed. Responsible for overall production and loss ratio goals through sound marketing. Promotes company products and programs. Administers and participates in discussions with re-insurers per department guidelines, maintaining good working relationships with reinsurers. Interacts with all departments to achieve company goals and objectives. Communicates regional and/or brokerage initiatives and goals. Builds alignment within territory teams and across regions. Monitors industry trends to stay informed of new products, distribution systems, trends, competitor offerings, and legal trends impacting management liability exposure. Review account submissions for brokerage territory and determine adequacy of information and preliminary risk acceptability. Analyze applications, financial documents, management, prospects, industry prospects, legal structure and outstanding litigation. Determine proper insurance program including layer attachment, terms, conditions, pricing and, if necessary, decline or non-renew coverage. Provide service for existing and new accounts, including quote letters, binders, policy issuance, endorsement drafting and issuance. Keep informed of competitor products, philosophy and distribution systems. Direct associate management including performance management, salary planning and administration, training and development, workflow and organizational planning, hiring and placement, and disciplinary actions. May Perform Other Responsibilities As Assigned. Reporting Relationships:
Reports to VP and will manage a team of Underwriting Professionals. Qualifications
Education:
Undergraduate studies with focus in finance, accounting, economics, and/or risk management. Master’s Degree preferred but not required. Experience:
15+ years as a senior-level crime/fidelity underwriter in the retail and/or wholesale brokerage insurance market. Experience profitability growing crime/fidelity books of business of $35M+ in annual gross written premium. Proven ability to supervise, train, motivate employees and set work priorities in multi-line underwriting support and rating. Some experience in data management, imaging and procedures and processes is helpful. Deep relationships with wholesale insurance brokers that produce professional liability submissions. Knowledge, Abilities And Skills:
In-depth knowledge of underwriting policies and procedures for crime/fidelity insurance products; financial document analysis; legal knowledge related to insurance, contract and business law preferred. Excellent verbal and written communication skills; advanced negotiation; ability to direct a highly technical staff; ability to work with wholesale/general agency/brokerage distribution systems; ability to analyze highly complex insurance risks and determine acceptability; ability to coach, train and mentor managers and underwriting personnel; ability to analyze and interpret mathematical, statistical and logical data. Other:
Leadership skills, competencies, and experiences may take precedence. Staffing exceptions require approval by the hiring manager’s leader and HR partner. Values and Conditions
Values:
Regularly and consistently demonstrates Nationwide values. Job Conditions:
Overtime eligibility: Not Eligible (Exempt). Normal office environment. Ability to travel locally and overnight for client meetings as needed. Benefits
Nationwide offers medical/dental/vision, life insurance, disability coverage, paid time off (minimum 18 days/year pro-rated), nine paid holidays, 401(k) with company match, pension plan, business casual attire, and more. Details are provided by the company during hiring. Equal Opportunity:
Nationwide is an equal opportunity employer. We celebrate diversity and are committed to an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and provides equal opportunities regardless of protected characteristics.
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Job Description Summary: Are you a critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both analytical and creative abilities to make sound decisions, and help people solve real challenges, we want to know more about you. This role is responsible for setting, monitoring, achieving, and measuring established goals for the region or channel, developing and implementing strategic plans, and managing budgets and underwriting guidelines across regions or within the territory. Key Responsibilities
Develops and implements strategic underwriting plans. Provides business forecasting related to trends and profitability within region/channel. Directs the development, implementation and monitoring of underwriting guidelines, rates, forms, product endorsements and procedures. Monitors, approves and authorizes the preparation and use of rates, forms, and endorsement filings. Directs general agency and brokerage relationships/results, and recommends corrective action if necessary. Conducts regular visits with general agents/brokers to understand business needs and identify new business opportunities. Approves accounts which exceed underwriting staff’s authority due to level of complexity, premium, class of business or coverage provided. Maintains composition of designated book of business to achieve favorable results. Monitors performance and provides reports on regional/channel results and takes action as needed. Responsible for overall production and loss ratio goals through sound marketing. Promotes company products and programs. Administers and participates in discussions with re-insurers per department guidelines, maintaining good working relationships with reinsurers. Interacts with all departments to achieve company goals and objectives. Communicates regional and/or brokerage initiatives and goals. Builds alignment within territory teams and across regions. Monitors industry trends to stay informed of new products, distribution systems, trends, competitor offerings, and legal trends impacting management liability exposure. Review account submissions for brokerage territory and determine adequacy of information and preliminary risk acceptability. Analyze applications, financial documents, management, prospects, industry prospects, legal structure and outstanding litigation. Determine proper insurance program including layer attachment, terms, conditions, pricing and, if necessary, decline or non-renew coverage. Provide service for existing and new accounts, including quote letters, binders, policy issuance, endorsement drafting and issuance. Keep informed of competitor products, philosophy and distribution systems. Direct associate management including performance management, salary planning and administration, training and development, workflow and organizational planning, hiring and placement, and disciplinary actions. May Perform Other Responsibilities As Assigned. Reporting Relationships:
Reports to VP and will manage a team of Underwriting Professionals. Qualifications
Education:
Undergraduate studies with focus in finance, accounting, economics, and/or risk management. Master’s Degree preferred but not required. Experience:
15+ years as a senior-level crime/fidelity underwriter in the retail and/or wholesale brokerage insurance market. Experience profitability growing crime/fidelity books of business of $35M+ in annual gross written premium. Proven ability to supervise, train, motivate employees and set work priorities in multi-line underwriting support and rating. Some experience in data management, imaging and procedures and processes is helpful. Deep relationships with wholesale insurance brokers that produce professional liability submissions. Knowledge, Abilities And Skills:
In-depth knowledge of underwriting policies and procedures for crime/fidelity insurance products; financial document analysis; legal knowledge related to insurance, contract and business law preferred. Excellent verbal and written communication skills; advanced negotiation; ability to direct a highly technical staff; ability to work with wholesale/general agency/brokerage distribution systems; ability to analyze highly complex insurance risks and determine acceptability; ability to coach, train and mentor managers and underwriting personnel; ability to analyze and interpret mathematical, statistical and logical data. Other:
Leadership skills, competencies, and experiences may take precedence. Staffing exceptions require approval by the hiring manager’s leader and HR partner. Values and Conditions
Values:
Regularly and consistently demonstrates Nationwide values. Job Conditions:
Overtime eligibility: Not Eligible (Exempt). Normal office environment. Ability to travel locally and overnight for client meetings as needed. Benefits
Nationwide offers medical/dental/vision, life insurance, disability coverage, paid time off (minimum 18 days/year pro-rated), nine paid holidays, 401(k) with company match, pension plan, business casual attire, and more. Details are provided by the company during hiring. Equal Opportunity:
Nationwide is an equal opportunity employer. We celebrate diversity and are committed to an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and provides equal opportunities regardless of protected characteristics.
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