Vice President, Excess Liability

2 weeks ago

Chicago, Illinois, United States Allied World Full time

Job Title:
Vice President, Excess Liability

Description:

Role Overview:


The Vice President of Excess Liability is accountable for the underwriting of a sophisticated portfolio, utilizing strategic methodologies to achieve anticipated profitability, gross written premium (GWP), and expense objectives. This role encompasses the oversight and expansion of the overall business portfolio, while ensuring adherence to established underwriting standards and practices, as well as the marketing and servicing of both current and prospective clients.


Key Responsibilities:
  • Implement the strategic plan for the growth, management, and enhancement of the portfolio.
  • Assess and prioritize submissions to pinpoint accounts that offer the highest potential for profitability aligned with corporate objectives.
  • Collaborate with Actuarial teams to evaluate terms and structures that meet profitability benchmarks.
  • Conduct underwriting audits at various stages as necessary.
  • Timely evaluation and response to special acceptance requests.
  • Quarterly review of portfolio performance against initial projections.
  • Engage with clients to innovate new insurance products.
  • Regular reporting to senior underwriters regarding submissions and portfolio status.
  • Analyze underwriting submissions, contracts, and slips.
  • Establish appropriate terms and conditions in line with the company’s strategic approach to risk assessment.
  • Negotiate with brokers and clients for both new and renewal business.
  • Ensure compliance with underwriting guidelines and maintain pricing discipline to achieve profitability targets.
  • Enhance the existing portfolio by nurturing current relationships and pursuing new client opportunities.
  • Monitor the performance and cash flow of bound contracts throughout their duration.
  • Coordinate with brokers, internal audit teams, and various departments including Claims, Accounting, IT, and Legal as necessary.
  • Participate in key industry events and conferences.
  • Supervise underwriting staff to ensure accurate and timely data entry into internal systems.
  • Collaborate with senior management on strategic planning, budgeting, and reporting.
  • Act as a referral point for underwriting staff as needed.
  • Manage the underwriting team, including delegation of tasks, performance evaluations, and professional development.
  • Continuously assess the portfolio, focusing on areas with potential catastrophic exposures.
  • Review portfolio analyses conducted by underwriting team members.
  • Conduct quarterly evaluations of portfolio risk management analyses.
  • Consistently refine pricing strategies and methodologies.
  • Develop and execute the business plan in collaboration with senior management.
  • Monitor portfolio growth and provide periodic updates to senior management regarding results and composition.
  • Stay informed on market trends and industry developments through travel and participation in relevant seminars and conventions.
  • Establish underwriting protocols and oversee negotiated terms with brokers and clients.
  • Promptly evaluate and respond to underwriting referral requests.

Qualifications:
  • Professional designation such as CPCU, ACII, or equivalent.
  • A minimum of 7 years of underwriting experience, including at least 2 years in a supervisory capacity.
  • Established connections with brokers, markets, and companies.
  • Proven success in developing and managing reinsurance accounts.
  • Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint).
  • Exceptional communication skills, both written and verbal, along with strong interpersonal abilities.
  • Meticulous attention to detail and strong analytical skills.
  • Ability to meet deadlines and effectively prioritize tasks.
  • Willingness to work beyond standard office hours as required.

About Allied World:
Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of insurance and reinsurance solutions. We operate under the brand Allied World and have supported clients, cedents, and trading partners with thoughtful service and meaningful coverages since our inception. We are a subsidiary of Fairfax Financial Holdings, Limited, benefiting from a robust capital foundation and a global network of affiliated entities that enable us to respond innovatively to market needs.

Benefits:
Our comprehensive benefits package includes health, dental, and disability insurance, a company-matched 401k plan, and group term life insurance. Allied World is committed to equal opportunity and affirmative action in employment practices.

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