Senior Underwriter for Financial Services

1 week ago

Chicago, Illinois, United States AXIS Capital Holdings Full time
Position Overview

This is an opportunity to become a part of AXIS Capital - a reputable global provider of specialized insurance and reinsurance solutions. We distinguish ourselves through exceptional client service, astute risk management, and superior risk-adjusted returns for our stakeholders. We take pride in fostering an entrepreneurial, disciplined, and ethical corporate culture. As a member of AXIS, you will collaborate with a team recognized as leaders in the industry.

Our Commitment

At AXIS, we recognize that our strength lies in our people. We are dedicated to cultivating an inclusive and welcoming environment where employees from diverse backgrounds feel empowered to express their authentic selves. This commitment allows us to bring our whole selves to work.

All qualified candidates will be considered for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, age, marital status, or any other characteristic protected by law. Accommodations are available upon request for candidates participating in the selection process.

Role Description

The Senior Underwriter for Financial Institutions will operate within established parameters to analyze, assess, and monitor new and renewal accounts for various financial entities, including private banks, insurance firms, hedge funds, and investment advisors. The role encompasses management liability, professional liability insurance, and related services.

Senior Underwriters will utilize independent judgment in processing accounts and oversee underwriting operations, typically managing an Underwriting Authority of $3 to $5 million while developing a portfolio of new and renewal business.

Candidate Profile

The ideal candidate will be a hands-on technical expert with a proven track record in a top-tier Commercial Insurance Carrier, focused on cultivating a portfolio of Financial Institutions Management and Professional Liability (E&O, D&O, EPLI, FLI, and Crime) in the Lower Middle Market.

Candidates should possess extensive connections within Financial Institutions retail broker channels and have comprehensive experience in portfolio management, including submission solicitation, underwriting analysis, and proposal preparation.

Moreover, the candidate must exhibit executive presence, demonstrating proficiency in communication, influence, and relationship-building that enhances the AXIS business portfolio and supports long-term strategic goals.

Work Environment

This position offers a flexible schedule, allowing for remote work two days a week and on-site presence for three days. Maintaining strong relationships with brokers and clients, along with active participation in industry and company events, will require some travel.

Key Responsibilities
  • Engage in prospecting by identifying new business opportunities and collaborating with Key Financial Institutions Retail Brokers to ensure proposals are presented.
  • Evaluate national new and renewal business in accordance with company underwriting guidelines, developing strategies and recommendations.
  • Assess coverage requests from agents and determine the department's position regarding these requests within the granted authority.
  • Analyze and underwrite individual risks, establishing appropriate limits, retention, pricing, and endorsements within the granted authority.
  • Manage a personal portfolio concerning new lines, renewals, and cross-marketing of product lines.
  • Meet divisional service objectives, including quote turnaround, policy issuance, and documentation maintenance.
  • Conduct marketing calls through regular broker visits to solicit new accounts and gather market intelligence.
  • Manage select agency relationships to ensure departmental objectives are met.
  • Travel as necessary for marketing calls and client meetings.
  • Continuously enhance product and underwriting knowledge.
  • Stay informed about economic and legal factors affecting the department's lines of business and the insurance industry.
  • Participate in projects or perform related tasks as required.
  • Coordinate with branch marketing representatives to facilitate cross-marketing opportunities.
Required Qualifications
  • Bachelor's degree.
  • A minimum of 5 years of experience in Financial Institutions and executive liability underwriting.
  • Advanced technical expertise and knowledge of insurance and underwriting principles.
  • Experience in assessing company financials and managing individual portfolios.
Desired Skills and Attributes
  • Strong negotiation and marketing skills.
  • Team-oriented mindset.
  • Exceptional presentation abilities.
  • Solid foundation in financial analysis.
  • Proficient in policy language analysis.
  • Established relationships with brokers and proven marketing capabilities.
Compensation

For this position, we anticipate offering a competitive base salary, along with eligibility for incentive targets based on corporate and individual performance. Additionally, we provide a comprehensive benefits package, including medical plans, wellness programs, retirement plans, tuition reimbursement, and paid vacation.

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