Manage and conduct independent underwriting audits for Specialty underwriting operations, including Professional Lines underwriters of Business, all Specialty Products, and producers with delegated underwriting authority. Summarizes findings in audit reports and provides recommendations to the affected business and corporate underwriting. Follows-up on all recommendations until resolution of the audit subject matter is achieved satisfactorily. Work will encompass the development and management of Specialty projects derived from audit findings.
Essential Duties & Responsibilities:
- Plan and establish audit schedules assuring all underwriting operations are audited on an agreed time-line.
- Review files, analyzing quality and selection, quoting, pricing, and insurance of new and renewal business to determine if it follows the Company's current underwriting guidelines.
- Maintain internal audit standards and procedures, including documentation, auditing criteria, forms, and specific areas to be covered.
- Maintain appropriate audit criteria based upon specific underwriting authority delegated to each subsidiary and their respective underwriters, including employees, contractors, or producers that may hold underwriting authority such as classes of business, limits of insurance, pricing, and policy terms and conditions.
- Write audit reports, including findings and recommendations, and have them reviewed and signed off by the business leader.
- Work with underwriting operations to develop responses and necessary actions responsive to audit findings.
- Maintain written responses to audit findings and follow-up until all issues have been resolved.
- Actively look for opportunities and recommend efficiencies to improve underwriting performance and processes.
Skills and Knowledge Required:
- Capable of effectively reviewing and auditing financial and other files and making decisions from the findings.
- Knowledge of the underwriting function and insurance coverages, underwriting process, and compliance procedures for our chosen markets.
- The ability to be a critical thinker to identify and analyze exposures, recognize areas of concern, and develop appropriate solutions.
- Ability to maintain strong working relationships and work in a collaborative environment
- Demonstrates effective organization and workload management skills.
- Strong attention to detail.
- Strong analytical skills required.
- Proven ability to work independently.
- Ability to travel determined by business needs.
Education & Experience Required:
- Bachelor's degree required or a combination of intermediate to complex account underwriting experience and specialized industry training.
- Minimum of 5 years' experience in an Underwriting position within property/casualty insurance.
- Knowledge of the property and casualty industry is required, with knowledge of surplus and specialty lines preferred.