AVP, Industry Segments - Surety

If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

Please Note: This position is open to working remotely in the United States.

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Job Description Summary

Are you a proven leader with strategic, creative and technical surety product and underwriting skills? Do you have deep insights into the insurance industry and competition with the ability to translate those insights into strategic and technical underwriting practices and partner with Underwriting Leaders to implement the practices across Surety insurance? If you have these abilities and a drive to achieve financial goals, set strategic vision and make a difference, then we want to hear from you!

This role is responsible for the underwriting, growth, and profitability of an industry segment(s) through the development and management of profit strategies consistent with Surety objectives. Within assigned industry segment(s), directs the national field underwriting organization through effective risk selection, agent/broker relationships, portfolio management, mix of business, Tail Risk management, quality underwriting decisions, territory performance and strategic leadership. Additionally, they will oversee the surety Reporting & Analytics unit, manage the budget, ensure alignment with reinsurance partners, and support the continued cultivation of the surety underwriting culture. This position requires a strategic thinker with strong analytical skills, leadership abilities, and effective communication skills.

Job Description

Key Responsibilities: 

• Full responsibility for industry segment(s) P&L results.

• Responsible for the development and implementation of strategic long and short-range plans to drive profitable business opportunities within the Surety industry segment(s).

• Collaborates with line of business leaders to establish and maintain underwriting guidelines, authority, appetite, and minimum underwriting standards for industries assigned.

• Collaborates with field underwriting teams to develop strategies for attracting new clients and retaining existing ones.

• Monitors loss trends, regulatory changes, and emerging hazards for assigned industry segment(s) and implements continuous improvement strategies for portfolio improvement.

• Responsible for educating the field underwriting teams through industry segment(s) specific knowledge, including surety principles, industry trends and risk factors.

• Collaboration with actuary to understand and refine underwriting and pricing models aligned with assigned industry.   

• Rigorous portfolio management to verify risk selection and quality are in alignment with risk appetite and strategy.  Measure, monitor and adjust based on geography, broker, product, and industry.

• Supports underwriting excellence by providing input to field directors and leader on quality execution in alignment with underwriting best practices.

• Handles account referrals for most complex risk exposures within industry segment(s).

• Provides technical advice, mentoring and coaching to the field underwriting teams.

• Portfolio management and reinsurance data to assist with the analysis and placement.

• May interact with defined clients within the industry segment(s) to best understand the risk and strengthen relationships as a specialist carrier in this segment(s).

• Participates in industry events to strengthen relationships and gain market insights.

• Creates industry white papers to further the education of our team and our broker partners. 

• Fosters continuous learning and development among team members.  Will build out industry specific certification program for the underwriting team.

• Responsible for leading the surety Reporting & Analytics unit to ensure information is provided to key stakeholders on a recurring and ad-hoc basis and that strategic analytical support is provided to key stakeholders and decision makers

• Responsible for the development of strategic plans to react to evolving risks in the national and global macroeconomic environment that could impact surety risk within each sector,