Vice President of Risk Assessment

2 weeks ago


Bellevue, Washington, United States The Ladders Full time
Position Overview:
The Vice President of Risk Assessment is tasked with the critical responsibility of meticulously evaluating and interpreting business proposals to ensure optimal risk management and underwriting profitability. This role is pivotal in enhancing profitability through the formulation of favorable binding agreements and thorough analysis of account performance. The individual in this position will exhibit a deep understanding of underwriting methodologies, industry standards, and market dynamics while working collaboratively with internal teams to meet organizational objectives.

Key Responsibilities:
  • Conducts comprehensive reviews and assessments of both renewal and new business proposals, evaluating the risks associated with various insurance products and analyzing historical performance to assist in the formulation of profitable binding agreements in accordance with underwriting standards.
  • Effectively applies binding authorities while negotiating placements to achieve underwriting objectives, determining the profitability of premiums and assessing potential loss exposures due to unforeseen events.
  • Reviews documentation such as application forms, binders, and inspection reports to ascertain risk levels and gathers additional information as necessary to establish premium rates.
  • Specializes in diverse insurance products and maintains current knowledge of industry trends, regulations, and market conditions.
  • Ensures a thorough understanding of policy terms, conditions, and legal ramifications, alongside knowledge of insurance laws and regulations to ensure compliance within the team.
  • Utilizes strong financial analytical skills to evaluate the financial viability of prospective clients and their capacity to fulfill insurance obligations.
  • Engages with clients, brokers, and internal stakeholders, clearly communicating underwriting recommendations.
  • Employs negotiation skills to balance business objectives with risk management effectively.
  • Adapts to evolving technologies and software platforms, gaining proficiency in underwriting software and technological tools.
  • Collaborates across multiple teams, overseeing the contributions of various underwriters, actuaries, and professionals within the organization.
Experience Requirements:
  • A minimum of 15 years of experience in the insurance sector, specifically in Binding Underwriting or a related field, complemented by a Bachelor's degree, or 12 years of experience with a Master's degree.
Educational Background:
  • A Bachelor's degree is required, with a preference for a Master's degree in Business Administration or Risk Management. Other relevant disciplines or equivalent work experience will also be considered.
Licenses & Certifications:
  • Mandatory: Compliance with state P&C and/or surplus line licensing requirements.
  • Preferred: Certifications such as Certified Insurance Counselor (CIC) or Chartered Property Casualty Underwriter (CPCU).
Commitment to Diversity:
The Ladders is an Equal Opportunity Employer, dedicated to fostering a diverse workforce that reflects the community we serve. We are committed to creating an inclusive workplace where all employees are recognized and evaluated based on their performance and contributions. Our diversity policy encompasses all facets of employment practices, including recruitment, hiring, promotions, and other employment conditions.

Employee Support:
The Ladders is committed to providing a comprehensive benefits package designed to support the physical, financial, and emotional well-being of our employees and their families. This includes paid time off for holidays, vacation, sick leave, and personal days, along with additional benefits such as parental leave and mental health services.

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