IAT Insurance Group has an opening for a Vice President, Underwriting on our Middle Market Excess Casualty team from our Jersey City or Newark, New Jersey location.
This role will oversee a regional team of underwriters in the Excess Casualty Middle Market underwriting division. The role will assist in developing underwriting policies and standards will work with senior management to develop, implement, and administer underwriting strategy, set targets, and establish markets.
The ideal candidate will have experience providing leadership and direction about the management of the risk selection process (underwriting, pricing, retention) while ensuring regulatory and legal compliance. Can speak to setting vision and direction through resource allocation, multiple functions, and departments for geographic marketplaces. Experience participating in the development of business plans, products, and IT support as needed. These functions are part of the responsibilities of this role.
As a member of the E&S Team, this role works a hybrid schedule from one of IAT's offices within the Eastern or Central time zones. The hybrid schedule reflects our values (thinking and acting like an owner, collaboration, and teamwork) as it requires working from the office with colleagues and other disciplines Monday through Wednesday, with the option of working remotely on Thursday and Friday.
Responsibilities:
- Through collaboration with the EVP of the Excess Middle Market (MM), establish the underwriting direction, underwriting appetite, and underwriting authority for the Excess MM businesses to support profitability targets.
- Ensures compliance to underwriting direction, underwriting appetite, and underwriting authority through individual account discussions and underwriting audits.
- Collaborates with Excess MM leadership on the development of business plans, products, and IT support.
- Collaborates with Excess MM leadership to identify training needs and development of a plan to address needs. Coaches, mentors and directs training and development of the underwriting team to ensure underwriting quality and proficiency.
- Supports the development of staff through coaching, leading organizational change, cultivating relationships, putting staff in a position to succeed, and creating a climate where staff are motivated to do their best.
- Partner with support functions such as Product, Actuarial, Claims, Regulatory, Loss Control, and IT to ensure products are compliant, competitive, and profitable.
- Collaborate on the development of pricing models appropriate for various types of commercial lines.
- Coach, mentor, and direct training and development of individual underwriting teams to ensure underwriting and service quality and proficiency.
- Ensure regulatory and legal compliance.
- Identify and capitalize on expense reduction opportunities, through process and technology enhancements.
- Travel as needed.
- Perform other duties as assigned.
Qualifications:
Must-Have:
- Bachelor’s degree with 10 years of relevant underwriting experience, or
- 14 years of relevant underwriting experience.
- Strong Underwriting management experience.
- Expansive knowledge of the breadth of coverages and lines of business housed within the company.
- Knowledge of company underwriting guidelines as well as industry standards and practices.
- High level of risk assessment skills.
- Broad knowledge of financial reporting styles and formats.
- Extensive knowledge of policy development, problem-solving, planning, and market savvy.
- Extensive knowledge of the insurance industry, regulations and compliance requirements, coverages, and policy language. Advanced knowledge of underwriting decisions.
- Ability to lead and manage a team to produce consistent decisions based on effective risk assessment skills. Knowledge of and ability to apply loss development and advanced loss analysis concepts to achieve optimal pricing of risk.
- Ability to creatively utilize coverage features, deductibles, or reinsurance on individual risks to achieve company objectives.
- Strong math aptitude, excellent verbal and written communication, interpersonal, and negotiating skills.
- Must be able to apply sound judgment when making underwriting and leadership decisions.
- Fosters collaborative environment.
- To qualify, all applicants must be authorized to work in the United States and must not require, now or in the future, VISA sponsorship for employment purposes.
Preferred to Have:
- Masters degree.
- Has a current book of business.
- A strategic thinker, a self-starter with strong analytical and problem-solving skills.
Compensation:
Please note, that the annual gross salary range associated with this posting is $184,590 – $252,900. This range represents the anticipated low and high end of the base salary for this position. Actual salaries will vary based on factors such as a candidate's qualifications, skills, competencies, and geographical location related to this specific role. The total compensation will include a base salary, performance-based bonus opportunities, 401(K) match, profit-sharing opportunities, and more.
To view details of our full benefits, please visit
https://www.iatinsurancegroup.com/careers/benefits
IAT Insurance Group is the largest private, family-owned property and casualty insurer in the U.S. Insurance Answers Together® is how we define IAT, in letter and in spirit. We work together to provide solutions for people and businesses. We collaborate internally and with our partners to provide the best possible insurance and surety options for our customers.
At IAT, we’re committed to driving and building an open and supportive culture for all. Our employees propel IAT forward – driving innovation, stable partnerships and growth. That’s why we continue to build an engaging workplace culture to attract and retain the best talent.
We offer comprehensive benefits like:
- 26 PTO Days (Entry Level) + 12 Company Holidays = 38 Paid Days Off
- 7% 401(k) Company Match and additional Profit Sharing
- Hybrid work environment
- Numerous training and development opportunities to assist you in furthering your career
- Healthcare and Wellness Programs
- Opportunity to earn performance-based bonuses
- College Loan Assistance Support Plan
- Educational Assistance Program
- Mentorship Program
- Dress for Your Day Policy
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. We maintain a drug-free workplace and participate in E-Verify.
