Special Risks – Underwriting Specialist

Underwriting Specialist – Special Risks – Downtown Toronto

JOB PURPOSE

The Underwriting Specialist is responsible for the evaluation and servicing highly complex and unique accounts within the Finance segment of Specialty Risk including exposure to fronting, in accordance with established guidelines and business objectives. The incumbent will be expected to solve highly complex problems by applying a breadth of expertise to identify innovative solutions as well as develop and refine contract wordings.

This role is management level, no direct reports, this position will report to Director, Special Risks

RESPONSIBILITIES

1 Responsible for the successful management and pricing of designated portfolio of fronting and net risk accounts.

• Maintain the long term profitability of a significant portfolio of Fronting accounts regardless of market conditions. This includes the ability to successfully negotiate terms, conditions and pricing to achieve new business, renewal and profitability targets.
• Execute risk selection decisions within the assigned authority and in accordance to corporate guidelines for correct pricing techniques.
• Refer and redirect requests for risk selection for unique or unusual risks beyond personal authority, along with recommendations.

2. Develop contract wording for new product proposals and business plans.

• Review and manage existing contracts.
• Develop new contract wordings.
• To ensure products and service are delivered in the most effective manner to achieve profit and growth objectives.
• Work with external clients, general counsel and reinsurance departments on contract wordings.

 

3. Collaborate with and support Specialty Risk team in the development of products and pricing strategies to achieve profitable growth.
4. Understand and apply best business practices towards compliance, internal control and

operational risk controls in accordance to national standards and regulatory standards and policies.

• Monitor trends and developments identifying areas of concern regarding loss ratios, risk trends, or other discrepancies.

5. Develop and maintain a knowledge and understanding of company operations and procedures, including demographic, economic, and social characteristics to increase market share.

• Fully supports and understands corporate and Regional financial and underwriting goals and objectives and ensures all underwriters are knowledgeable as to these goals and objectives.
• Participate in the development of business plans to contribute to corporate objectives and assist in the presentation of proposals as required.

6. Work collaboratively with Supervisors and/or Managers on special projects and assignments requiring advanced technical skills and knowledge when required.
7.  Other duties as assigned.

QUALIFICATIONS & SKILLS

• Proficient in creating and understanding contract wordings; proficiency in the use of Microsoft Word.
• Proficient in creating and maintaining Microsoft Excel-based spreadsheets and workbooks.
• Accurate and detail oriented.
• Commitment to high standards of performance and goals.
• Strong verbal and written communication skills.
• Demonstrated presentation skills.
• Ability to foster and build good working relationships with brokers, customers and business areas inside and outside the work unit.
• Ability to influence decisions and gain agreement and/or support on sensitive issues.
• Strong analytical and decision-making skills.
• Post-secondary school education in legal/accounting preferred and/or equivalent on the job experience.
• Minimum 7-10 years’ experience in underwriting property and casualty or senior level experience in Special Risks – experience  including data analysis, coverage review and form creation is favourable
• Existing relationships within the industry are valued.
• Broad knowledge and understanding of underwriting discipline and pricing models.
• Working knowledge of company underwriting philosophy, policy contracts, rating programs, risk information sources, underwriting/technical manual information, statuary constraints, and computer workflow procedures.
• Ability to work within and adapt to PC oriented environments, including familiarity with e-mail and Internet skills. Advanced knowledge of Microsoft Office.
• Completion of the CIP/FCIP designation an asset.

Please forward resume to [email protected]