Job Title: VP Underwriting - Credit
The VP, Underwriting - Credit is responsible for the analysis and underwriting of assumed risks within the global credit portfolio, with particular focus on mortgage credit risks and secondary focus on structured credit risks. This individual will have a strong understanding and successful track record in mortgage and structured credit across asset classes. This individual will need to garner credibility for this expertise both inside and outside the organization. They may also act as a trainer, leader and/or manager of risk analysts or junior underwriters. The VP, Underwriting – Credit will be reporting to the Head of Credit – Bermuda.
Key Responsibilities:
- Structure and underwrite structured credit insurance and reinsurance transactions, with particular focus on mortgage Credit Risk Transfer (CRT) transactions and a secondary focus on structured credit transactions (SRT, NAV financing, etc.).
- Contribute to the development of a profitable book of business. Handle day-to-day transaction underwriting, risk analysis, negotiations, client/broker relationships, reporting on portfolio to internal/external stakeholders, and accounting.
- Develop and deepen new and existing client relationships reflective of our commitment to long-term partnerships and tailored solutions that evolve with our clients’ needs.
- Act as a resource on credit market trends and the broader macroeconomic environment both internally and externally; serve as a subject matter expert for clients and staff on mortgage related products.
- Communicate RenaissanceRe’s underwriting approach effectively to both brokers and clients.
- Seek ways to leverage our global credit footprint and platforms by identifying creative and multifaceted solutions for clients.
- Evaluate, challenge, communicate and apply model results to underwriting discipline.
- Promote and strengthen the risk management culture through active use, development and continuous improvement of proprietary and other risk modeling, data analysis and reporting tools.
- Operate collaboratively within our integrated system, designed to break down silos to create effect partnerships across underwriting, technology, regional platforms, investments and corporate functions.
- Mentor, train and develop junior talent.
- Set the strategy for the mortgage portfolio, taking into account the credit portfolio and company objectives.
- Suggest and lead platform improvement initiatives (monitoring, reporting, collateral management).
Qualifications:
- At least 10+ years of relevant experience in credit markets, credit insurance, asset management or structured credit with at least 2 years’ experience in mortgage portfolio management.
- Demonstrated expertise analyzing multiple classes of credit risk exposure; experience with mortgage credit and CRT required.
- Ability to manage and grow client relationships; listening skills and horsepower to identify and address risk needs of some of the most sophisticated financial institutions in the world.
- Knowledge of the credit underwriting process, including an understanding of client/intermediary relationships, and terms and conditions of credit (re)insurance.
- Technical acumen to navigate complex risk systems to support pricing and portfolio management functions; modelling and programming strong recommended.
- Solid understanding of macroeconomics and ability to synthesize economic research to inform risk decisions.
- Intellectual curiosity, love for data, and drive for continuous development.
- Excellent interpersonal, presentation, written, and verbal communications skills with ability to communicate professionally at all levels of the organization as well as externally with key clients, brokers, and vendors.
- A keen focus on profitability by matching desirable risk with the most efficient capital.
- Undergraduate degree or equivalent expected; MBA, CFA, or similar postgraduate degree strongly preferred. This is a fast-paced business environment, demanding a strong work ethic and a results-oriented approach.
We seek diversity, create equity, and practice inclusion. Our people are at the heart of everything we do. We are an equal opportunity employer. We provide equal opportunity to all applicants and employees regardless of race, color, religion, national origin, age, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.
Our people are our most valuable resource and core to our success. This is a fast-paced business environment, demanding a strong work ethic and a results-oriented approach. We offer competitive compensation and benefits, a comprehensive talent development program, and a reward system in which employees share in the success of the company. We are an engaged member of the communities in which we live and work and have a locally-led giving philosophy with generous employee matching program, global and local community grants and employee volunteerism.We seek diversity, create equity, and practice inclusion. Our people are at the heart of everything we do. We are an equal opportunity employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.
Skills Required
- 10+ years of experience in credit markets or structured credit
- 2+ years in mortgage portfolio management
- Ability to manage and grow client relationships
- Knowledge of credit underwriting processes and terms
- Technical skills in risk systems
- Solid understanding of macroeconomics
- Excellent communication skills
- Undergraduate degree or equivalent
- MBA, CFA or postgraduate degree preferred
What We Do
RenaissanceRe is one of the world’s leading reinsurance companies, consistently recognised for our innovation, technical excellence and creative problem-solving. Our clients are multi-national organizations and government entities who turn to us to help manage the risks of operating in a volatile and uncertain world, including climate change, natural hazards like wildfires and hurricanes, cyber threats and significant societal upheaval. We’re proud of our world-class reputation for exceptional performance and being a trusted partner, there for our clients when it matters most. Our corporate purpose is to protect communities and enable prosperity. When disaster strikes, the claims we pay help keep businesses open and communities rebuild. Ensuring that our technology ecosystem can anticipate and respond to unprecedented global change in the world order is an imperative. It is only through continuously seeking to innovate through transformative technology that we can deliver our strategic business priorities, aims, and objectives. RenaissanceRe’s name comes from our founders’ intention to create a renaissance in quantifying and managing risk. Our success depends on the unique way we combine information, experience and technology to empower our decisions. We have developed new and cutting-edge technologies since the day we started in 1993 and have long been recognized as pioneers and technical innovators; designing and engineering solutions to rapidly serve clients and help them dynamically manage their business
