About the Role:
This is an excellent opportunity for the right candidate to be a part of a rapidly growing organization and aid in the creation and development of the RSUM Underwriting Quality Review function. This function is in development and has the attention and commitment of senior management and the Audit Committee. The ideal candidate is an initiative-taker and, a great collaborator and has proven success working in a business partnering ability. The candidate will have a minimum of ten years of experience, encompassing underwriting operations audits as well as carrier delegated authority compliance. Understanding of Managing General Underwriting agreements is preferred.
Responsibilities:
- Design, manage, and conduct risk-based quality reviews of managing general underwriters’ (MGUs) policies, to decide compliance with underwriting guidelines provided by capital partners.
- Manage quality review planning, including risk assessment, scope development, review and refinement of quality review work programs, and staff assignments/coordination.
- Develop a process for sampling and cadence of reviews of MGUs depending on certain risk factors.
- Verify delegated underwriting authority limits have not been breached.
- Validate the MGU is abiding by the terms of contractual agreements and Underwriting Guidelines.
- Ensure policy files meet minimum compliance standards and work with management to address deficiencies to keep best practices.
- Work with RSUM Leadership on the design of review processes, and proper review parameters, to align with leadership requirements and expectations.
- Guide and develop the Underwriting Quality Review team to effectively execute the required quality reviews and compliance activities.
- Create executive quality review reports that summarize the findings and recommendations to be distributed to MGU leadership and divisional senior management.
- Consult with the business to socialize review issues and obtain buy-in for recommendations and finalization of quality review reports.
- Develop a tracking tool to make sure quality review recommendations and findings are being checked for completion.
- Monitor and report on the status of historical quality review findings, making sure findings have been corrected and procedures have been implemented to mitigate quality issues going forward.
- Familiarize yourself with the processes and procedures of other internal teams to make sure quality reviews are being conducted with these processes and procedures in mind.
Job Qualifications
· Bachelor’s degree is needed.
· 10+ years of relevant audit and insurance experience needed.
· Exposure to underwriting process or workflow preferred.
· Insurance-related field or professional insurance designation (CPCU, AAI, CIC, ARM) is a plus.
· Earlier experience as a lead in a functional area, managing cross-functional teams, or supervisory experience a plus.
- History of successfully finding and implementing process improvements.
· Work autonomously and is objective and rigorous in their approach.
· Has effective communication skills (oral and writing, including formal report writing).
· Is an analytical thinker with strong business acumen who is also purposeful and pragmatic.
· Initiative-taking works well in a team environment and works well independently.
· Computer ability.
Job Type: Full-time
Pay: Up to $180,000.00 per year
Schedule:
Education:
Experience:
- audit and insurance: 10 years (Required)
- underwriting process or workflow: 10 years (Required)
- implementing process improvements: 10 years (Required)
- Underwriting Quality Review function: 10 years (Required)
- managing general underwriters’ (MGUs) policies: 10 years (Required)
- risk assessment: 10 years (Required)
- scope development: 10 years (Required)
License/Certification:
- CPCU, AAI, CIC, ARM (Required)
Ability to Commute:
Work Location: In person