E&S Binding Director of Product Development

Dir Product Development - ED06BE

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Director of Product Development Job Description

A new role can expand your knowledge and your network, and help you learn more about our business. If you think this opportunity is a fit for your career you should apply. If you are not sure you can have a conversation with your manager.

Reporting to the Head of E&S Product and Strategy, the E&S Director of Product Development will manage the Liability Line of Business suite of products for our E&S Binding unit. This critical business role includes overall growth and profit metrics for the Line, product development, forms maintenance, and development of deep insight into our position in the market.

Responsibilities will include:

• Accountability for Small Commercial E&S Liability Line of Business, including management of product offering, forms development and updates, mix management, appetite, and underwriting guidelines.
• Coordination with E&S Actuarial to manage profitability of the Line, with primary responsibility for rate management.
• Engagement with other cross functional partners to understand actions that will influence outcomes, including Claims, Actuarial Reserving, Compliance, Legal, and Quality.
• Leads new product implementation, including design, build, governance and monitoring with decision making authority on requirements.
• Coordination with the E&S Value Stream to support execution of strategic and tactical initiatives.  This will include system rules management, third party data integration, APIs, etc.
• Lead and drive complex analysis of data in support of the various projects achieving or exceeding financial targets, revenue, net income, etc., while making recommendations and decisions for sustained long-term success.
• Input into regular reporting (i.e. – Monthly Business Review) to display performance of the Line, trends, issues being addressed, etc.
• Lead competitive intelligence collection and dissemination to determine how our products are performing in the market, adjust accordingly, and react to shifts in market cycles.
• Work with the E&S Binding sales and underwriting team to deploy product and guideline initiatives.
• Independently lead significantly complex projects which typically span multiple years through design and build, rollout, implementation and monitoring while adhering to project management discipline.
• Support requirements, as needed, to secure favorable reinsurance treaty terms.
• May have accountability for oversight of multiple projects or workstreams.
• Builds discipline and best practices to effectively and consistently evaluate risk reward tradeoffs. Incorporates vision into strategic roadmap through stakeholder engagement which may include buy in of investment dollars.
• Driving and Influence by taking a leadership role on countrywide or cross functional projects in the execution of business initiatives and projects with decision making authority.
• Frequently presents to Leadership with compelling storyline and command of materials.
• May be SME in discipline for others across Product exposure management, coverage, project delivery, ROC, etc.
• May lead and coach others directly and or indirectly.

Candidates must be highly regarded for their product leadership capabilities.  Previous underwriting team management experience is a plus, as well as the following:

Qualifications:

• Minimum: 4 year degree and 5 plus years of relevant experience in Commercial Lines.
• Preferred: insurance designations,  7 plus years prior relevant work experience including E&S and CL product, pricing, underwriting and/or coverage. 
• Required, Advanced usage of Microsoft Office products, including Excel and Powerpoint.
• Demonstrated critical thinking on complex business problems.
• Independently lead cross-functional teams on multiyear projects.
• Proven ability using data and analysis to design and implement solutions to complex problems.
• Creative, solutions-oriented individual, with ability to think strategically and implement change