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Senior Financial Institutions Underwriter

2 months ago

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

This is an exceptional opportunity to become part of AXIS Capital, a reputable global leader in specialty lines insurance and reinsurance. We distinguish ourselves through our exceptional client service, astute risk management, and superior risk-adjusted returns for our stakeholders. Our corporate culture is characterized by entrepreneurship, discipline, and ethical practices. As a member of AXIS, you will collaborate with a team recognized as one of the finest in the industry.

Company Culture

At AXIS, we understand that our strength lies in our people. We are committed to fostering an inclusive and welcoming environment where employees from diverse backgrounds feel empowered to express their authentic selves. This commitment ensures that we 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.

Position Summary

The Senior Underwriter for Financial Institutions will operate within established guidelines to analyze, assess, and monitor new and renewal accounts for private banks, insurance firms, hedge funds, investment advisors, and other financial entities. The role encompasses management liability, professional liability insurance, and ancillary lines.

Senior Underwriters will exercise independent judgment in managing accounts and underwriting activities, typically holding 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 within 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 comprehensive experience in portfolio management, including solicitation of submissions, underwriting analysis, and marketing.

Additionally, the candidate must demonstrate executive presence, showcasing success in communication, influence, and relationship-building that enhances the AXIS business portfolio and contributes to long-term strategic goals.

Work Environment

This position offers a flexible schedule, allowing for remote work two days a week and on-site engagement 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 targets and opportunities, collaborating closely with Key Financial Institutions Retail Brokers to ensure proposals are submitted. Provide strategic recommendations to supervisors.
  • Evaluate national new and renewal business in accordance with company underwriting guidelines. Formulate strategies and recommendations.
  • Assess coverage requests from agents and determine the department's position regarding such requests within the authority granted. Present those exceeding authority to supervisors for approval.
  • Analyze and underwrite individual risks, developing appropriate limit structures, retention, pricing, and endorsements within granted authority.
  • Manage a personal book of business concerning new lines, renewals, and cross-marketing of product lines within the department.
  • Meet divisional servicing objectives, including quote turnaround, policy issuance, and documentation maintenance. Ensure data integrity for the underwriting system.
  • Conduct necessary marketing calls through regular broker visits to solicit new accounts, gather market intelligence, and provide current department information regarding products and services.
  • Manage select agency relationships to achieve departmental objectives.
  • Travel as required for marketing calls and client meetings.
  • Continuously develop and update 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 other related work as required.
  • Coordinate with branch marketing representatives and profit center representatives to facilitate cross-marketing.
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, practices, and procedures.
  • Experience should include the ability to assess company financials, analyze stock metrics, and manage individual portfolios.
Desired Skills and Attributes
  • Excellent negotiation and marketing skills.
  • Team-oriented mindset.
  • Strong presentation capabilities.
  • Solid foundation in financial analysis.
  • Proficient in policy language analysis.
  • Established relationships with brokers and proven marketing abilities.
Compensation and Benefits

For this position, the expected base salary ranges from $140K to $200K, depending on the successful candidate's experience and work location. Additionally, all employees are eligible for competitive incentive targets based on overall corporate and individual performance. We also offer a comprehensive benefits package, including medical plans for employees and their families, health and wellness programs, retirement plans, tuition reimbursement, paid vacation, and more.