SVP, Underwriting Hub (Commercial Small & Middle Market)

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Senior officer position accountable for the strategic direction, general management and long-term success of the Underwriting Hub functional area. The underwriting hub is a centralized center of excellence for portfolio management where the process of evaluating and approving the continuation of existing insurance policies is managed, ensuring consistency and efficiency in the service provided. This position is responsible for multiple product lines and segments across commercial small and middle market business, in accordance with the company’s strategic plans. Typically has a significant role in overall business unit strategy.

JOB DESCRIPTION:

Essential Duties & Responsibilities

Performs a combination of duties in accordance with departmental guidelines:

• Partners with executive senior management to develop strategic and operational plans that have a substantial impact on the success of multiple product lines (e.g. Middle Market, Small Business, Construction & Inland Marine) with significant impact on the long-term success of the company.

• Oversees achievement of continued profitability, growth and/or operational efficiencies for product lines by setting underwriting profitability and expense strategy.

• Establishes strategic underwriting objectives, underwriting authority levels and product development direction.

• Reviews analysis of operating model routinely to drive operational excellence and identifies areas for optimization. Utilizes algorithms that align with the underwriting strategy and designs straight through processing workflows where appropriate.

• Maintains a strong presence and alignment with Business Unit executive leaders to understand the strategic initiatives of the BUs including growth initiatives, portfolio management & mix, risk tolerance, market appetite, pricing & emerging issues.

• Leads, directs and has full management accountability for staff in area of responsibility with an emphasis on talent management and succession planning in accordance with corporate strategic direction.

• Oversees underwriting performance within scope of responsibility. Includes rate, reserve adequacy, operational & quality reviews.  Provides results to Business Unit senior executive management team and presents plans to resolve issues.

• Partners with senior management in Risk Control, Actuarial, Claim, Worldwide Operations, Compliance and field management to address governance and compliance issues related to underwriting practices.

May perform additional duties as assigned.

Reporting Relationship

Reports to Head of Small Business & Middle Market Product Strategy

Skills, Knowledge & Abilities

1. Extensive knowledge in underwriting discipline and other related disciplines in the insurance field and comprehensive understanding of critical issues in other related areas. 
2. Extensive underwriting expertise with the ability to integrate knowledge across product lines and segments.

3. Knowledge and familiarity of algorithms and how to leverage them across UW systems.

4. Demonstrated ability to partner with Operations & Technology to drive continuous improvement & operational excellence.

5. Advanced communication skills which are critical to building consensus across area of influence (external and/or internal relationships), team and/or matrix environment.
6. Superior leadership and management skills demonstrated integrity and professionalism.
7. Ability to drive results by identifying and resolving significant problems within scope of responsibility.
8. Extensive level knowledge of the insurance industry, it products and services.
9. Knowledge of Microsoft Office Suite and other business-related software.
 

Education & Experience

1. Bachelor’s degree with Master’s preferred in a related discipline, or equivalent.
2. Typically having 20 years of related underwriting experience, with minimum of 10 years management experience.
3. Chartered Property and Casualty Underwriter (CPCU) highly preferred.

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