Underwriting Specialist - Management Liability D&O (Financial Institutions)

If you’re passionate about helping people protect what matters most to them at a Fortune 100 company with nearly $70 billion in annual sales, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers and partners are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

*This role does not qualify for employer-sponsored work authorization. Nationwide does not participate in the Stem OPT Extension program.*

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Job Description Summary

Are you a critical thinker who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both your analytical and creative abilities to make sound decisions and have a desire to help people solve real challenges, we want to know more about you!

As the highest, non-management level underwriter, responsible for assessing a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by independently analyzing a company's financial documents and other information for highly complex D&O pricing. Achieves team production and loss ratio goals within assigned territory by reviewing and analyzing claims, loss history and taking appropriate action on individual accounts. The underwriter works independently developing recommendations and applying judgment based on the financial analysis. Establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Territory assignments are highly complex in nature concerning coverage and agent/broker/ relationships. Conducts research, development and presentation of new programs, forms and manuals. Responsible for determining appropriate reinsurance placement, if any, on individual accounts. Responsible for the training and mentoring of underwriting team members. Responsible for all management and marketing of that territory.

Job Description

Location: Nationwide E&S/Specialty

Key Responsibilities:

• Responsible for assessing a company's risk profile and determines/negotiates the appropriate pricing, coverage, terms and conditions by analyzing a company's financial documents/operations/management/industry and other information. Including, but not limited to the company's viability, issues, governance, regulatory environment and experience. The underwriter analyzes, with a high level of technical expertise, exposures to loss, develops an adequate premium charge for the exposure, and determines appropriate endorsements and exclusions to address loss exposures for the insurance contract. Within department guidelines, places reinsurance, if any, for the account.
• Achieves team production and loss ratio goals within assigned territory through sound territory management and marketing. Works with more complex issues concerning coverage with agents and brokers. The underwriter continually analyzes premium and loss results in their territory by agency, state, major class of industry and by line of business. Performs file audits of individual risks for compliance with company guidelines, state regulations and reinsurance conditions. Development and implementation of specific action plans may be required.
• Handles highly complex policy maintenance items and other mid-term requests. Reviews endorsement requests and processes necessary changes to the policy. Follows up on outstanding information as required. Reviews claim activity and takes appropriate action.
• Independently establishes and maintains effective relationships with brokers in order to generate premium dollars and profitably. Travels to broker offices as required for marketing visits. Frequently entertains Brokers to market services and ensure strong relationship to write business. Meetings typically include CFOs, CEOs of client organizations and several Underwriters from other organizations.
• Leads underwriting meetings with Brokers, Clients, and other Underwriters. Meetings typically include CFOs, CEOs of client organizations and several Underwriters from other organizations. The CFO/CEO provides information. Underwriter clarifies and questions information provided by the client to appropriately assess the risk. Handles highly complex accounts and those that which potentially require higher limits of liability.
• Places reinsurance per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaties, semiautomatic and facultative reinsurance. Maintains good working relationship with reinsures.
• Trains and mentors other underwriters. May have Underwriting Assistants reporting to this position indirectly.
• Other responsibilities include complex program research and development, form development, rate development, specials projects, technical assistance to complex and highly technical Brokers, as well as underwriting Assistants, and other Underwriters.

May perform other responsibilities as assigned.

Reporting Relationship: Reports to Director/AVP

Typical Skills and Experiences:

Education: Undergraduate studies with focus in Finance, Accounting Economics, and/or Risk Management. Degree. Masters level degree preferred.

Experience: Typically 3 or more years related experience as a D&O and/or E&O Underwriter. Ability to set work priorities in all aspects of multi-line underwriting support and rating. Some experience in the technical aspects of data management, imaging and procedures and processes helpful.

Knowledge, Abilities and Skills: In-depth knowledge of lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. In-depth knowledge of financial documents, financial analysis, investments, market conditions essential. Legal knowledge related to insurance, contract and business law preferred. Ability to communicate highly complex underwriting concepts required. Ability to communicate persuasively and effectively, verbally, and in writing, interpersonally with individuals at various levels and groups via telephone, fax, e-mail and in person. Demonstrates advanced negotiation skills and highly effective ability to persuade. Ability to analyze highly complex insurance risks to determine acceptability including policy language, various commercial rating plans and methodologies, reinsurance. Thorough knowledge of job related computer software. Ability to devise business solutions to highly complex problems, implements the most appropriate, and monitor its effectiveness. Ability to make decisions without supervision.

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 HR Business Partner.

Values: Regularly and consistently demonstrates the Nationwide Values.

Job Conditions:

Overtime Eligibility: Not Eligible (Exempt)

Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed.

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 associates assigned to the job to perform a somewhat different combination of duties.

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. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

NOTE TO EMPLOYMENT AGENCIES:

We value the partnerships we have built with our preferred vendors. Nationwide does not accept unsolicited resumes from employment agencies. All resumes submitted by employment agencies directly to any Nationwide employee or hiring manager in any form without a signed Nationwide Client Services Agreement on file and search engagement for that position will be deemed unsolicited in nature. No fee will be paid in the event the candidate is subsequently hired as a result of the referral or through other means.

Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range. Note on Compensation for Part-Time Roles: Please be aware that the salary ranges listed below reflect full-time compensation. Actual compensation may be prorated based on the number of hours worked relative to a full-time schedule.

The national salary range for Specialist, Brokerage Management Liability Underwriting - E&S/Specialty : $96,000.00-$178,500.00

The expected starting salary range for Specialist, Brokerage Management Liability Underwriting - E&S/Specialty : $96,000.00 - $144,000.00