AVP, Associate General Counsel

If you're passionate about being part of a diverse organization that enables a Fortune 100 company to deliver innovative business solutions with excellence, then Nationwide's Legal team could be the place for you At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

Nationwide is seeking an expert to offer expert legal and regulatory guidance to Nationwide’s global Alternative Ventures & Emerging Risk division. This role involves advising on all aspects of the division’s expanding alternative/emerging risk portfolio, with specific experience in the following areas:

Alternative Risk Financing

Structured Insurance Solutions

Formation, regulation, and administration of risk retention/risk purchasing groups and captive insurers

Cross-border (re)insurance regulation and transactions

Entity licensing in both domestic and foreign jurisdictions, including Bermuda

Formation, regulation, and administration of Reinsurance entities

Fronting Arrangements

Excess and surplus lines regulation

Alternative Financial Instruments, such as insurance-linked securities

Collateral Protection/Financial Guaranty Insurance Products

Job Description Summary

Would you thrive in an environment where you can deliver top-quality legal services to support the goals and objectives of a Fortune 100 insurance and financial services company? If you possess the legal education, skills and expertise needed to provide outstanding service, advice, and counsel, we want to hear from you

As a General Counsel, you'll ensure that legal services are provided for Alternative Ventures. We'll count on you to work closely with the Office of the Chief Legal Officer (OCLO), business and senior leaders to evaluate the legal impact of various corporate or department strategies.

Job Description

Key Responsibilities:  

Leads legal support for most complex business arising from Alternative Ventures planning unit. Serves as primary business unit counsel for Alternative Ventures by supporting the alternative ventures, alternative risk, captives and fronting teams by assessing legal risks associated with strategic, alternative risk transfer business opportunities. 

Engages with President, SVPs, VP's and AVP's of E&S/S on alternative venture opportunities to coordinate vertical and horizontal risk mitigation throughout the business. 

Serves as primary legal representative when interacting with other parties (and their counsel) to deals including other insurers, brokers, managing general agents, reinsurers and/or regulators. Acts as liaison to OCLO subject matter experts (reinsurance, tax, investments) on business deals including off-shore and international opportunities.

Leverages business unit knowledge and superior understanding of business unit objectives to direct OCLO support by actively identifying and assessing potential legal risks in light of business unit objectives and to foster deal efficacy. 

Provides direct tactical support on use of captive structures, fronting arrangements, risk retention groups, risk purchasing groups or structured transactions as a means of providing indemnification to an insured or group of insureds.

Supports E&S/S property & casualty and professional programs planning unit. Provides specialized subject matter expertise on significant, high-risk or highly complex legal exposure stemming from the development of and/or on-boarding of new insurance programs in cooperation with external program managers. Collaborates with planning unit clients to assess viability of program opportunities and feasibility of success of a program relationship. Assists clients in establishing underwriting appetite and creation of guidelines consistent with that appetite. 

Develops contracts with external program manager consistent with business client objectives. Drafts, edits and analyzes coverage forms to minimize potential legal, regulatory, compliance and indemnification risk, consistent with business unit appetite. 

Leverages deep expertise in insurance underwriting to interpret innovative underwriting rules engine and/or underwriter workbench tools to enhance governance of programs and program managers. Demonstrates extensive knowledge of state regulatory framework applicable to both admitted and non-admitted insurance.

Serves as a leader of the CL Legal team, driving activation of P&C Legal's strategic priorities related to enabling a world class underwriting company, talent development and retention, and enabling data & technology adoption for the benefit of both the legal team, as well as business partners. This role will lead cross-team collaboration within the CL Legal team on projects of high importance, e.g. engage in market intelligence, research and training on current and emerging legal strategies and solutions emanating from the alternative risk transfer space. Provide initial and ongoing substantive mentorship to CL Legal associates on AV issues and trends.

May perform other responsibilities as assigned. 

Reporting Relationships: Reports to Counsel Vice President.

Typical Skills and Experiences:  

Education : Juris Doctorate (JD) from an American Bar Association-accredited law school.

Licensing Requirement: Associates reporting within Nationwide’s Office of the Chief Legal Officer (OCLO) who are functioning in attorney roles must be fully licensed in accordance with OCLO policy, in good standing and in compliance with all continuing legal education requirements at all times in the state(s) in which they practice.

Experience : Minimum fifteen years of deep insurance underwriting, rate-making and regulatory experience. Preferably would have extensive experience in and exposure to the business of insurance; possibly developed from a prior role as a commercial insurance underwriter or corporate development role. Experience in mergers and acquisitions, due diligence, structured finance, insurance linked securities, is required. 

Project management concepts and techniques are necessary for effective collaboration while serving on multi-disciplinary working groups wherein Commercial Legal is an interested stakeholder. Sound business acumen and knowledge of insurance operations including finance, profitability, and loss trends. Awareness of business partners goals and objectives as they relate to a given project or initiative. 

Knowledge, Abilities and Skills : Extensive knowledge of commercial property/casualty insurance and specifically, specialty insurance products and underwriting. Ability to identify and assess legal risks in ambiguous and highly complex business situations and develop creative solutions to problems. Significant experience with or knowledge of one or more areas of law, in this case, insurance, reinsurance, investments, financial services, mergers & acquisitions, contract, administrative and regulatory law as well as complex legal practices and procedures. Working knowledge of various industries including but not limited to financial services, banking, construction, surety, technology, and manufacturing for which specialty commercial property & casualty insurers provide coverage, loss control services and claim handling. Ability to deliver difficult news, challenge business partners when necessary, and respond to challenges to advice and counsel directly and effectively. Strong verbal and written communication skills for contacts interacting with all levels within OCLO and with business partners. Analytical ability to interpret statutes, regulations, insurance policies and other contracts. Decision-making ability to set work priorities and make recommendations for issue resolution. Ability to lead cross-functional projects. Ability to lead, initiate, organize and coordinate highly complex projects and/or cases. Takes the lead role in negotiations that are complex, strategic or sensitive in nature. Supervisory skills helpful.

Other criteria, including leadership skills, competencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the hiring manager’s leader and Human Resource Business Partner.

Values: Regularly and consistently demonstrates the Nationwide Values.

Job Conditions:

Overtime Eligibility : Exempt (Not Eligible)

Working Conditions : Normal office environment.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties. 

We currently anticipate accepting applications until 08/06/2024. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.

Benefits

We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more.

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