Compensation: $168,735.00 - $168,735.00 /year *
Employment Type: Full-Time
Industry: Financial Services - Insurance
The Chief Underwriting Officer (CUO) is the senior executive responsible for the underwriting strategy of the Company. Reporting to the President, and working with both Field and Staff functional areas, the CUO designs, implements, and monitors the underwriting activities for all BGPRM customer segments which include Topical and Digestible Products and Manufactured Goods. Essential duties and responsibilities include but are not limited to:
- Daily management of the underwriting function to ensure the effective solicitation, selection, pricing, and retention of profitable business
- Oversees new product development and product lifecycle maintenance
- Develops and implements underwriting best practices
- Vets new product ideas from both internal and external sources
- Develops and manages underwriting appetite, guidelines, forms, forms usage, terms and conditions, training, and communications
- Acts as the Underwriting Liaison with IT, Operations, Actuary, Finance, Marketing and Claims functions and works to develop and/or strengthen interdepartmental relationships with these other disciplines
- Establishes and oversees Underwriting quality and compliance processes and controls, including underwriting peer reviews, underwriting self-audit reviews, management reviews, coordination of WRBC reviews, and development and implementation of automation support for the underwriting audit process
- Assigns underwriting authority to staff and resolves issues beyond the authority of the underwriting staff. Holds highest-level underwriting authority for all market segments and exercises sound judgment in risk selection, exposure analysis, pricing and coverage in evaluating and approving or rejecting individual-risk submissions from BGPRM underwriters globally
- Maintain / Establish new brokerage relationships
- Designs and implements underwriting training programs to ensure that field underwriting staff perform at the highest skill levels
- Collaborates with other departments regarding regulatory issues.
- Monitors and communicates emerging underwriting issues that are relevant to BGPRM s future planned underwriting strategies and processes.
- Working with the Chief actuary, ensures rate adequacy and pricing integrity.
- Responsible for collaborating with the COO and President, BGPRM on reinsurance placements.
- Bachelor's degree preferred or equivalent experience.
- Fifteen years of P&C underwriting experience with expertise product recall exposures and coverages.
- Mastery of underwriting discipline and knowledge in the insurance field, with experience product recall lines of business, and a broad understanding of the critical issues in other related areas
- Successful leadership experience evidenced by quantifiable results
- Must have knowledge of the insurance regulatory environment
- Must have strong written and verbal communication, negotiation and interpersonal skills.
- Must have advanced analytical and problem solving skills, ability to multi-task and to independently prioritize competing demands/requests within given time constraints.
- Ability to exercise independent judgment and effectively make sound business decisions.
- Ability to creatively resolve unique and challenging business problems
Associated topics: actuarial analyst, actuarial consultant, actuary, actuary consultant, assistant actuary, life actuary, mathmatics, model, probability, risk
* The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.
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