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Job Description Summary
Are you a problem solver 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 the leader, you will be responsible for directing the sales and underwriting relationship for the profitable operations of Alternative Ventures’ related business in partnership with Ryan Re. You will oversee and execute underwriting and related reinsurance responsibilities within these ventures as well as represent Nationwide on partnership related working groups and committees. Some of the risks could be multinational or have alternative arrangements in place that make them unique. You will need to build and maintain strong and effective relationships with internal business liaisons and external program managers and principles and provide leadership, direction, and development to underwriting staff. You will provide valuable market intelligence to ensure we remain competitive and relevant in the market. You will also influence strategy for other programs and verticals such as RSUM, Geneva Re and Alternative Risk. This work could include leading and evaluating capital modeling, reserving, financial reporting, and analytics.
Job Description
Key Responsibilities:
Responsible for establishment of goals and metrics for Ryan Re; ensures alignment with business scorecards. Provides department forecasting related to trends and profitability; takes action based on results as needed.
Directs Ryan Re’s results and recommends corrective action if necessary. Understands business needs and identifies new business opportunities.
Approves accounts which exceed partner authority due to level of complexity, premium, class of business or coverage provided.
Directs the development, implementation and monitoring of underwriting guidelines, rates, and procedures.
Interacts with various business partners (i.e. claims, actuarial, legal, compliance, etc.) to achieve company goals and objectives. Communicates department program initiatives and goals. Builds alignment within E&S/S and across Nationwide.
Directs the audit of individual risks/programs for compliance with company guidelines and reinsurance conditions. Development and implementation of specific action plans may be required. Ensures that advanced questions have been resolved.
Independently establishes and maintains effective relationships with partners in order to generate premium dollars and profitability. Travels to existing partners’ offices as required for marketing visits. Frequently entertains partners to market services and ensure strong relationship to write business.
Accountable for identifying new opportunities, facilitating all steps involved in the due diligence process and making recommendations to senior management on new opportunities. Responsible for the implementation of all new programs from development of underwriting guidelines, compliance/regulatory matters, finance, reinsurance, claims, legal, accounting, actuarial, and marketing matters to ensure proper integration.
Regularly presents to, consults with and counsels Nationwide officers, partner owners, board members and others on matters of significance impacting the viability, profitability and success of the business.
Attends industry functions to promote E&S/S brand and capabilities of the Alternative Ventures team in order to help identify new business opportunities.
Builds and develops the Alternative Ventures team by recruiting, training, managing talent as well as being the Brand representative for the E&S/Specialty organization. Has key focus on engagement and retaining/rewarding top talent. Directs associate management including performance management, salary planning and administration, training
Directs the management of the Alternative Ventures operation functions and directs the development of department guidelines, policies, procedures, and standard methodologies.
Maintains knowledge of insurance and reinsurance regulations; provides consulting regarding legislation that impacts the organization.
May perform other responsibilities as assigned.
Reporting Relationships: Sr AVP, Reinsurance Underwriting – Alternative Ventures
Typical Skills and Experiences:
Education: Undergraduate studies with focus in Mathematics, Statistics, Finance, Accounting Economics, and/or Risk Management. Graduate degree preferred.
License/Certification/Designation: Actuarial Designations (eg. FCAS, ACAS), or Insurance Industry Designations (eg. CPCU, ARe, etc.)
Experience: Typically, ten or more years related experience as a Reinsurance professional (underwriting, claims, actuarial, etc.). Leadership experience is preferred. Experience in the technical aspects of data management procedures and processes helpful.
Knowledge, Abilities and Skills:
In-depth knowledge of reinsurance underwriting policies, practices, and procedures, and underwriting marketing principles and techniques. In-depth knowledge of financial documents, financial analysis, investments and market conditions essential. Must possess excellent verbal and written communication skills to interact with internal/external business partners at all levels. Demonstrated advanced skills to influence and negotiate with internal/external business partners at all levels. Must have the ability to manage large portfolios; develop and apply innovative strategic approaches to initiatives and issues. Must be able to analyze and interpret mathematical, statistical and logical data and evaluate its reliability and significance. Proven ability to analyze highly complex insurance and reinsurance risks, including individual reinsurance treaty pricing assumptions and results. Must have strong project and process management skills. Ability to support numerous internal/external business partners and make decisions that reflect the goals of the company, both financially and ethically. Ability to build and maintain a high level of customer trust and confidence. Must have ability to direct operational functions. Ability to establish departmental objectives and lead, direct, and develop staff. Ability to apply/learn job related software.
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 Nationwide Values.
Job Conditions:
Overtime Eligibility: 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.
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.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. 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 Director, Reinsurance Underwriting - Alternative Ventures : $142,000.00-$267,000.00The expected starting salary range for Sr Director, Reinsurance Underwriting - Alternative Ventures : $142,000.00 - $237,000.00Similar Jobs
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