Senior Assistant Vice President - Crime and Fidelity Small Market Underwriting

If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

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Job Description Summary

Are you a critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both your analytical and creative abilities to make sound decisions and have a desire to help people solve real challenges, we want to know more about you!

As a Sr AVP, you'll be responsible for setting, monitoring, achieving, and measuring the established goals for the region or channel. You'll develop and implement region's or channel's strategic plans and objectives. You'll analyze, develop, and monitor expense budget. You will be accountable for underwriting guidelines, rates, forms and procedures across regions or within territory. You'll also be counted on to influence relationships with general agents, brokers, and other customers.

Job Description

Key Responsibilities: 

• Develops and implements strategic underwriting plans. Provides business forecasting related to trends, and profitability within region/channel.

• Directs the development, implementation and monitoring of underwriting guidelines, rates, forms, product endorsements and procedures. Monitors, approves and authorizes the preparation and use of rates, forms, and endorsement filings.

• Directs the general agency, brokerage relationships/results, and recommends corrective action if necessary. Conducts regular visits with general agents/brokerage to understand business needs and to identify new business opportunities.

• Approves accounts which exceed underwriting staffs’ authority due to level of complexity, premium, class of business or coverage provided.

• Maintains composition of designated book of business to achieve favorable results. Monitors performance and provides report card on regional/channel results. Takes action based on results as needed.

• Responsible for overall production and loss ratio goals through sound marketing. Promotes company products and programs.

• Administers and participates in discussions with re-insurers per department guidelines verifying the appropriate use of all reinsurance facilities used by the department, including various treaty, semiautomatic and facultative reinsurance. Maintains good working relationship with re-insurers.

• Interacts with all departments of the company to achieve company goals and objectives.

• Communicates regional and/or brokerage initiatives and goals. Builds alignment within territory teams within the region and across the regions.

• Monitors industry trends to stay well-informed of new products, distribution systems, trends, competitor offerings, emerging business and legal trends impacting management liability exposure.

• Maintain and uphold knowledge of emerging business and legal trends impacting the management liability exposure of the line of insurance we write.

• Review account submissions for brokerage territory and make determination on adequacy of information and preliminary risk acceptability.

• Analyze and review application, financial documents, company management and prospects, industry prospects, legal structure and outstanding litigation.

• Determine proper insurance program including layer attachment, terms, conditions, pricing and alternatively decline or non-renewal coverage.

• Service of existing account and new accounts, including quote letters, binders, policy issuance, endorsement drafting and issuance.

• Keep informed of the competitor products, philosophy and distribution systems

• Directs associate management including performance management, salary planning and administration, training and development, workflow and organizational planning, hiring and placement, and disciplinary actions.

May perform other responsibilities as assigned. 

Reporting Relationships:  Reports to VP and will manage a team of Underwriting Professionals

Typical Skills and Experiences: 

Education:  Undergraduate studies with focus in finance, accounting, economics, and/or risk management. Master’s Degree preferred, but not required.

Experience:  15 or more years as a senior-level crime/fidelity underwriter working in the retail and/or wholesale brokerage insurance market. Experience profitability growing crime/fidelity books of business of $35M or more in annual gross written premium.  Proven ability to supervise, train, motivate employees and set work priorities in all aspects of multi-line underwriting support and rating. Some experience in the technical aspects of data management, imaging and procedures and processes helpful. Deep and productive relationships with wholesale insurance brokers that produce professional liability insurance submissions.

Knowledge, Abilities and Skills: 

In-depth knowledge of underwriting policies, practices and procedures specific to crime/fidelity insurance products. In-depth knowledge of financial documents, financial analysis, investments, market conditions essential. Legal knowledge related to insurance, contract and business law preferred. Excellent verbal and written communication skills to communicate with individuals and groups via telephone, fax, e-mail and in person. Demonstrates advanced negotiation skills. Ability to direct a highly technical staff. Ability to work with the wholesale/general agency/brokerage distribution system. Ability to analyze highly complex insurance risks to determine acceptability including policy language, various commercial and alternative rating plans and methodologies, reinsurance. Ability to apply/learn job related software. Ability to devise business solutions to complex problems, implement the most appropriate and monitor effectiveness. Ability to make decisions on highly complex issues and work with minimal direction. Ability to coach, train and mentor managers and underwriting personnel. Ability to analyze and interpret mathematical, statistical and logical data and evaluate its reliability and significance.

Other criteria, including leadership skills, competencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the hiring manager’s leader and Human Resource Business Partner.

Values:  Regularly and consistently demonstrates the Nationwide Values.

Job Conditions: 

Overtime Eligibility: Not Eligible (Exempt)

Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed.

ADA:  The above statements cover what are generally believed to be principal and essential functions of this job.  Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties. 

Benefits

We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

NOTE TO EMPLOYMENT AGENCIES:

We value the partnerships we have built with our preferred vendors. Nationwide does not accept unsolicited resumes from employment agencies. All resumes submitted by employment agencies directly to any Nationwide employee or hiring manager in any form without a signed Nationwide Client Services Agreement on file and search engagement for that position will be deemed unsolicited in nature. No fee will be paid in the event the candidate is subsequently hired as a result of the referral or through other means.

Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range. Note on Compensation for Part-Time Roles: Please be aware that the salary ranges listed below reflect full-time compensation. Actual compensation may be prorated based on the number of hours worked relative to a full-time schedule.The national salary range for Sr AVP, Crime and Fidelity Small Market Underwriting - E&S/Specialty : $164,000.00-$322,000.00The expected starting salary range for Sr AVP, Crime and Fidelity Small Market Underwriting - E&S/Specialty : $172,000.00 - $287,000.00