Position Summary
The Structured Insurance Operations Specialist is responsible for structured insurance and reinsurance operations activities, including development, implementation, and performing processes that will enable efficient underwriting of structured insurance risks, preparation of risk and coverage documentation, premium management, and coverage management and issuance. This position will ensure operational compliance in connection rating, quoting, binding and issuance of insurance for multiple carriers, as well as being responsible for meeting the reporting needs of the business. This leadership position for USQRisk oversees certain operations and team members, ensuring profitability and sustainable growth for carrier markets. The Structured Insurance Operations Specialist will work closely and collaboratively to assure goals are achieved. USQRisk is a leading, global alternative risk transfer MGU providing structured (re)insurance solutions for complex and unique risks.
What will your job entail?
Key Responsibilities
- Report to Chief Strategy Officer of USQ.
- Lead the drafting and assembly of insurance and reinsurance policies, working with the legal and Underwriting teams to ensure accuracy, completeness, and compliance with carrier and regulatory requirements.
- Expand on and develop new operational processes supporting structured insurance underwriters, with a focus on policy administration systems, policy documentation, and underwriting workflows.
- Affect compliance with guidelines internal policies and guidelines, and with applicable law and regulations.
- Manage operational processes for quoting, binding, and issuing insurance quotes, binders, policies (including reinsurance) for structured insurance business with multiple carriers, with a focus on policy assembly and issuance
- Work with carriers, brokers and underwriters to assure that structured insurance underwriting operations activities are timely performed and stakeholders’ needs are addressed.
- Ensure operational compliance processes for the quoting, binding, and issuance of structured insurance policies (including reinsurance), including applicable surplus lines law and regulation with respect to USQ’s pertaining USQ’s activities.
- Manage economic and risk performance reviews of insureds (including reinsureds) and assist with all related insurance and reinsurance change activities.
- Assure that premium invoicing, collection, and returns are accurate, timely, and properly recorded.
- Manage data collection and input with policy administration systems and ensure data continuity across operations, finance, and underwriting functions.
- Communicate effectively with stakeholders, including brokers, agents, and clients, to maintain strong relationships.
- Develop and provide best-in-class service to all stakeholders.
Leadership & Collaboration
- Provide mentorship and training to junior operations staff, ensuring technical excellence, adherence to goals and guidelines, and effective use of systems.
- Partner with internal teams to optimize processes and department and broader business goals.
Qualifications
This position requires technical expertise and experience in property and casualty underwriting operations, including a strong understanding on policy assembly and issuance requirements, and premium accounting processes. The successful candidate is comfortable with new concepts, ideas and processes, but brings business experience to help guide them. Some management skills are preferred.
- Licenses & Certifications: Chartered Property Casualty Underwriter (CPCU), Associate in Commercial Underwriting (AU) or Associate in Risk Management (ARM) is beneficial, but not required
- Technical/Functional Skills:
· Data Analytics
· Regulatory Knowledge
· Leadership
· Technical Proficiency
Experience:
Minimum 8 years of property & casualty underwriting and/or policy and premium operations experience – some exposure to structured insurance solutions is preferred.
Education: Bachelor’s degree required.
Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.
How We Support Our Teammates
Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.
The target salary range for this position is $120,000.00 - $150,000.00 annually.
The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.
We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at HR@Ryansg.com
The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
