Nationwide Financial Institution Consultant (D&O and E&O) in New York, New York
Nationwide is hiring a Financial Institution Consultant (D&O and E&O) in New York City. Qualified Candidates MUST HAVE 1-7 years of Financial Institution experience (Management Liability and Professional Liability). This position will include a base salary and a competitive target bonus which can increase based upon performance.
This opening may be filled at theConsultant orSpecialist level, depending on the skills/qualifications of the selected individual.
JOB SUMMARY: Underwrites individual risk for acceptability, pricing, coverage, terms and conditions, by developing, analyzing and evaluating information and exposures on risks of the most complex technical nature. Influences and manages customer relationships. Responsible for supporting the Underwriting operations through supervision of underwriting and support staff. Provides guidance and expertise in the development, improvement and implementation of the techniques, procedures, processes, workflow, guidelines and programs utilized to support staff in all lines of business. Responsible for setting, monitoring, achieving, and measuring the established goals for assigned area under the director. Approves accounts which exceeds underwriting staff’s authority either due to complexity, premium and class of business or coverage provided.
LOCATION: Scottsdale-Freedom Specialty
REPORTING RELATIONSHIPS: Director/AVP; may have some underwriting staff reporting to them or may act as mentor.
CORE JOB DUTIES & RESPONSIBILITIES:
Reviews individual risks or programs within assigned territory from brokers and either declines or accepts business based upon information necessary to make the decision. The underwriter analyzes, with the highest level of technical expertise and accuracy, exposures to loss, develops an adequate premium charge for the exposure, determines appropriate endorsements and exclusions to address loss exposures for the insurance contract.
Achieves individual production and loss ratio goals within assigned territory through sound territory management and marketing. Works with the most complex issues concerning coverage, programs, agents, brokers and program managers. The underwriter continually analyzes premium and loss results in their territory by agency, state, major class of business and by program. Performs audits of individual risks 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 technical questions of the highest complexity.
Handles policy maintenance items and other mid-term requests. Reviews endorsement requests and processes necessary changes to the policy. Reviews loss control reports and makes recommendations to the broker and/or changes to the policy. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action.
Independently establishes and maintains effective relationships with Brokers in order to generate premium dollars and profitably. Travels to broker offices as required for marketing visits. Frequently entertains Brokers to market services and ensure strong relationship to write business. Meetings typically include CFOs, CEOs of client organizations and several Underwriters from other organizations.
Leads underwriting meetings with Brokers, Clients, and other Underwriters. Meetings typically include CFOs, CEOs of client organizations and several Underwriters from other organizations. The CFO/CEO provides information. Underwriter clarifies and questions information provided by the client to appropriately assess the risk. Handles highly complex accounts and those that which potentially require higher limits of liability.
Responds to problems, questions and concerns from users, department management and others within and outside the department regarding Underwriting support and rating functions.
Assists in the administration of Company policies and underwriting philosophies to meet the objectives of the Department. Prepares statistical reports as required by the Underwriting units such as monthly volume, renewal retention.
Provides support in preparation for internal audits and those performed by reinsures and internally reviews/audits policies and/or endorsements to monitor quality, completeness, accuracy and adherence to the authority levels of staff.
Coordinates with other user groups the establishment of procedures to expedite work processes and work flow to meet underwriting and agent requests to quote, bind and issue policies.
Provides input and data to help drive and implement strategic underwriting plans. Provides business forecasting related to trends, and profitability within region/channel.
Performs other duties as assigned.
MINIMUM JOB REQUIREMENTS:
Education: Undergraduate studies with focus in Finance, Accounting Economics, and/or Risk Management. Masters level degree preferred.
Experience: Typically 5 or more years related experience as a D&O and/or E&O Underwriter. Leadership experience in the D&O lines of business is preferred. Proven ability to lead, train, motivate employees and set work priorities in all aspects of multi-line underwriting support and rating. Some experience in the technical aspects of data management, imaging and procedures and processes helpful.
Knowledge: In-depth knowledge of lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. In-depth knowledge of financial statements, financial analysis, investments, market conditions essential. Legal knowledge related to insurance, contract and business law preferred.
Skills/ Competencies: Ability to communicate interpersonally with individuals and groups via the telephone and in writing. Ability to promote professional attitude. Strong organizational and planning skills. Ability to set work priorities that conform to established standards. Ability to evaluate, analyze and recommend solutions to problems relating to underwriting support and rating. Ability to devise business solutions to complex problems, implements the most appropriate, and monitor the effectiveness. Ability to make decisions on highly complex issues and work with minimal direction. Ability to analyze and interpret mathematical, statistical and logical data, and evaluate its reliability and significance. Ability to train and mentor underwriters, underwriting assistants, raters.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Staffing Exceptions to the above minimum job requirements must be approved by the: hiring manager’s leader and HRBP.
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 associates assigned to the job to perform a somewhat different combination of duties.