Senior Counsel - Credit & Political Risk

If you're passionate about being part of a diverse organization that enables a Fortune 100 company to deliver innovative business solutions with excellence, then Nationwide's Legal 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.

This position will be a critical member of the Management Liability & Specialty (MLS) Legal team, part of the Excess, Surplus & Specialty (ESS) Legal team within Nationwide’s Office the Chief Legal Officer (OCLO) and will support relevant matters throughout the Nationwide enterprise. This position involves providing specialized legal, product and regulatory expertise to support the various MLS business cells at Nationwide operating in both the domestic and international marketplaces. The successful candidate will have experience in various areas related to management liability, professional liability, and financial lines insurance products, and related areas including but not limited to regulatory compliance, product distribution, reinsurance, and risk management focused on specific MLS business strategies and opportunities.Underwriting Support:

• Particular focus on supporting and providing counsel to the MLS Credit & Political Risk business cell, including underwriters and other internal stakeholders, on structured policy transactions, issues impacting distribution partner relationships, evaluating and negotiating Terms of Business Agreements (TOBAs), international regulatory issues including licensing and broker placement rules, and collaboration with underwriters, internal Product Management experts, and outside counsel on analyzing, drafting and negotiating policy wordings.
• Engage with MLS business and functional internal clients, regarding various property & casualty insurance product solutions for management liability insurance specialty lines of business, including Credit & Political Risk, Errors & Omissions, Directors & Officers liability, Fiduciary liability, Surety, Cyber, etc.
  • Drafting related policy forms, manuscript forms and endorsements, underwriting guidelines, and assisting the Product Management organization with responding to product filing objections and other filing issues.
  • Evaluating and counseling on the impact of legal and regulatory schemes on the represented business cells, including developing and providing training to underwriting clients on regulatory and legal issues pertinent to their business.
  • Review, analysis and negotiation of international and domestic distribution agreements, NDAs and other contracts.
  • Assisting underwriting and Claims partners with respect to understanding and interpreting coverage considerations.
  • Collaborating with OCLO partners on specific matters, including the OCLO Marketing, Enterprise Governance, and Privacy teams.
  • Collaborating with Nationwide’s Corporate Compliance Organization to drive a strong culture of compliance throughout the enterprise.

Corporate Risk Management:

• Identify, assess, and mitigate legal risks across the organization and develop strategies to protect the company's interests.
• Provide legal advice on corporate governance, regulatory environments and structures, legal and regulatory compliance, and risk management for various business opportunities.

Insurance and Reinsurance coverage, claims, and dispute resolution matters:

• Advise on coverage issues and (re)insurance recoverable strategies.
• Collaborate with internal and external legal partners to drive successful handling/recovery of (re)insurance claims arising out of MLS business, including providing strategic advice, oversight, and management of such efforts (may include arbitrated and litigated matters).

Alternative Risk Placement Structures:

• Review and provide guidance and analysis on fronting agreements and other alternative risk placement structures considered by MLS business clients, including ancillary agreements and issues, and advise on issues involving program administrators, third party administrators, multinational insurance programs, etc.
• Address legal and regulatory issues, including licensing, registration, collateralization/securitization, tax, etc.
• Advise on the establishment, regulation, and ongoing governance and administration relating to alternative risk placement structures.
• Evaluate the legal and regulatory implications of alternative risk placement structures.

International Insurance Regulations and Transactions:

• Navigate international regulatory frameworks for cross-border insurance transactions.
• Analyze legal and compliance aspects of global insurance operations working with other areas of expertise, including privacy, tax, trade and economic sanctions, and other regulatory-implicated functional, legal and compliance partners.

This position can be fully remote reporting into the Managing Counsel for the ESS Legal team, as part of the broader Commercial Lines Legal team.

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Job Description Summary

Would you thrive in an environment where you can deliver top-quality legal services to support the goals and objectives of a Fortune 100 insurance and financial services company? If you possess the legal education, skills and expertise needed to provide outstanding service, advice, and counsel, we want to hear from you!
As Senior Counsel, you'll independently provide expert advice and counsel on highly complex legal matters to senior-level leaders. We'll count on you to create valuable risk management recommendations by actively identifying and logically assessing potential legal risks in ambiguous, unique and/or the most complex business situations which have the greatest potential for significant impact to the company.

Job Description

Key Responsibilities:

• Provides the highest level of subject matter expertise for legal specialties on significant, high-risk, or highly complex legal matters. Regularly attends business partner meetings to better understand business processes and needs.

• Identifies and logically assesses potential legal risks. Creates risk management/mitigation recommendations using sound risk assessment information to further achievement of business objectives. Drafts necessary legal documents and develops conclusions and recommendations.

• Regularly interacts with senior leaders in Office of the Chief Legal Officer (OCLO) or the company on legal matters within area(s) of legal expertise. Has input into or influence on company decision-making.

• Creates practical and effective solutions to the most complex legal issues with no established precedent; develops creative solutions to unique legal problems; has significant interaction with persons outside of the company.

• Takes the lead role in matters that are highly complex, strategic, or sensitive in nature. Understands the business partner's position and needs. 

• Keeps senior leaders and appropriate management of company informed of case law and new legislation, as appropriate. Considers the long-term business and strategic consequences of possible outcomes. Delivers difficult messages or news, and challenges business partners when necessary; responds to challenges to advice and counsel directly and effectively.

• Brings a broad network of established relationships, both internal and external, to the organization, particularly in recognized areas of subject matter expertise.

• Works independently and may lead teams to resolve highly complex legal and organizational issues. 

• Makes recommendations about and ensures compliance with approved outside counsel budget.

• Hires and develops talent, provides consistent coaching and feedback 

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Vice President/Associate Vice President/Managing Counsel; may lead a team of Legal professionals. 

Typical Skills and Experiences:

Education: Juris Doctorate from an American Bar Association-accredited law school. 

License/Certification/Designation: Associates reporting within Nationwide’s OCLO who are functioning in attorney roles must be fully licensed in accordance with OCLO policy, in good standing and in compliance with all continuing legal education requirements at all times in the state(s) in which they practice. 

Experience: Typically has 15 or more years of relevant legal experience. May have management experience. Has significant experience with or knowledge of one or more areas of law, complex legal practices and procedures, project management concept and techniques. Considered a subject matter authority within his or her areas of legal expertise. Sound business acuity and knowledge of the business goals and objectives as they relate to the matter at hand. 

Knowledge, Abilities and Skills: Strong verbal and written communication skills for contacts interacting with all levels within OCLO and with business partners. Analytical ability to interpret statutes, regulations, insurance policies and other contracts. Decision-making ability to set work priorities and make recommendations. Ability to lead cross-functional projects. Ability to lead, initiate, organize and coordinate highly complex projects and/or cases. Takes the lead role in negotiations that are complex, strategic, or sensitive in nature. Supervisory skills useful. Significant professional and/or civic involvement. 

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 Resources Business Partner.

Values: Regularly and consistently demonstrates Nationwide Values.

Job Conditions:

Overtime Eligibility: Not Eligible (Exempt)

Working Conditions: Normal office environment. Some travel may be required.

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.
 

Credit/Background Check: Due to the fiduciary accountabilities of this job, a valid credit and/or background check will be required as part of the selection process.

We currently anticipate accepting applications until 10/30/2025. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.

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.

This position could be filled within any of the lower 48 U.S. states.

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Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.

For NY residents please review the following state law information: Notice of Employee Rights, Protections, and Obligations LS740 (ny.gov) https://dol.ny.gov/system/files/documents/2022/02/ls740_1.pdf

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.

The national salary range for Senior Counsel - 651000 : $139,000.00-$272,000.00

The expected starting salary range for Senior Counsel - 651000 : $146,000.00 - $244,000.00