Officer position responsible for providing overall underwriting excellence through management for a product line or segment. Ensures effective management and implementation of strategic objectives and policies for a product line or segment, in accordance with the company's strategic plans. Aligns and supports strategic direction and operational efficiencies with data-driven analysis.
Essential Duties & Responsibilities
Performs a combination of duties in accordance with departmental guidelines:
- Implements strategic objectives, underwriting strategies and best practices with substantial impact on the short-term success and long-term viability of a product line or segment.
- Ensures the achievement of continued profitability, growth and/or operational efficiencies for a product line or segment through assessment of risk tolerance, market appetite and emerging risk issues.
- Evaluates underwriting performance based on financial analysis, including reserve adequacy studies, operational and financial metric reviews, planning and product reviews, limits analyses, and facultative reinsurance usage and placement evaluations. Provides results to members of the underwriting leadership team and develops plans to execute strategy and resolve issues.
- Advances a data-driven culture within the product line or segment, translating data into actionable insights.
- Conducts research on traditional risks and emerging exposures to influence product development initiatives.
- Collaborates with leadership team to develop high-level industry presentations to create CNA brand recognition and visibility.
- Monitors the usage and profitability of alternative pricing programs.
- Drives adherence to underwriting authority delegation, audit criteria and catastrophe management for a product line or segment.
- Collaborates with business partners in Legal, Risk Control, Actuarial, Claim, Operations and Compliance to address governance and compliance issues related to underwriting practices.
- Provides guidance and direction in the development of underwriting and training tools.
- Acts as the liaison with Government Relations to influence public policy at all levels of governance: local, regional, national and global.
- Acts as the liaison with Information Technology to ensure systems and applications meet the demands of a product line or segment.
- Stays current on trends and developments within the product, focusing on continually learning and sharing insights broadly across the organization.
- May lead, direct and have full management accountability for staff in area of responsibility with an emphasis on talent management and succession planning in accordance with strategic direction.
- May take lead responsibility for the development of underwriting strategies and position papers for emerging issues when assigned.
- May maintain relationships with branches, brokers, agents and customers to assess risk tolerance, market appetite and emerging issues.
May perform additional duties as assigned.
Typically VP and above
Skills, Knowledge & Abilities
- In-depth technical knowledge of underwriting theories and practices within the insurance field.
- Ability to effectively interact and communicate with all levels of external and/or internal business partners within scope of responsibility, team and/or matrix environment.
- Leadership and management skills, demonstrating ethical behaviors, integrity, professionalism and diverse thinking.
- Ability to drive results by identifying, and resolving problems within scope of responsibility.
- Knowledge of the insurance industry, its products and services.
- Knowledge of Microsoft Office Suite and other business-related software.
- Knowledge of SQL and other data analytics tools.
- Ability to be a change agent and adapt skills and competencies to dynamic industries continually changing and/or modifying business models.
- Excellent organizational skills including the ability to prioritize and coordinate multiple projects and initiatives, as well as anticipate business needs.
- Ability to lead and make decisions during times of uncertainty and ambiguity.
Education & Experience
- Bachelor's degree with master's degree preferred in a related discipline, or equivalent.
- Typically a minimum of 10 years of related work experience, with five years management experience.