Underwriting director job description

* Manage the IDI underwriting team
* Build a strong team & risk culture
* Manage and maintain high quality and time-service standards
* Maintain MR's facultative underwriting exceptional reputation among clients and in the industry

* Support facultative submissions by
* Managing the intake and execution of facultative submissions
* Case underwriting
* Second signature/ co-signs
* Continue to manage and develop client relations and be primary contact for IDI carrier's IDI management on facultative business

* Manage and develop client relations and be primary contact for IDI carrier's IDI management on facultative business
* Recognize pertinent risk factors and understand insurable risk and financial justification to make strong decisions; ensure appropriate documentation to support these decisions.
* Provide prompt handling of facultative new business and additional requirements.
* Keep up with mortality trends and industry underwriting practices of both clients and competitors. Maintain current understanding of client's personnel and their business practices.
* Represent and promote Munich Re with phone contact, at industry meeting business travel to client's offices and participating on external reviews/audits.

Your profile

* 10 years of IDI underwriting experience
* Reinsurance experience is a plus
* People management experience
* Credentials: FLMI, FALU, CLU, or equivalent

About us

Together, we engage with everything we have and are, to help humankind act braver and better.

As the world's leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients.

Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry. We invest strategically in our world class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.

Citi continues to enhance its business control and governance framework by building out Institutional Credit Management (ICM), a new function in the 1st Line of Defense, to house and consistently manage credit risk activities performed across its Institutional Client Group organization. ICM's objective is to provide integrated "end-to-end" credit underwriting, identification, measurement, management, and monitoring for wholesale credit risk across the enterprise. Within ICM, the Credit Underwriting function (ICM-UW) provides analysis, greenlight, underwriting, first-line-of-defense credit approval and subsequent credit monitoring across all ICG wholesale credit businesses including Banking, Capital Markets, and Advisory (BCMA), Global Structured Products, Financings, and Securitizations (GSP-F&S), Treasury & Trade Services (TTS), Markets, and Securities Services (MSS).

The NAM PS & Municipals Senior Credit Underwriter ("NAM PS & Municipals Underwriter") manages a Portfolio of Clients across the Public Sector and Municipal Clients Business, covering diverse and complex relationships and being responsible for all underwriting activities, in partnership with BCMA, Markets and Risk. This role will report to the NAM PS & Muni Head.
KEY RESPONSIBILITIES:

Executes, aligned with global and regional strategies, all responsibilities regarding underwriting, including, but not limited to:

Provide first line of defense credit approval for the most complex transactions
Adoption of leading practices in credit analysis, underwriting, and monitoring, including the end-to-end underwriting process, from early origination discussions to development of credit approval memos, and senior approval forums Supports function's close engagement with global and Regional Business Heads, Independent Risk, regulators, and other control functions Facilitate relationships with key clients in Banking and Risk and with key Regulators, Internal Audit, and control functions Manage large, diverse, and high performing team Oversee credit associates with respect to their preparation of key deliverables such as CAM and sign off on their work product Support the Regional/Global Heads of ICM FI Credit Underwriting on strategic initiatives/projects Support VOE initiatives



SPECIFIC RISK EXPERIENCE:


Senior credit approval authority covering large and complex underwritings, capital commitments, derivatives with multi-industry experience Experience in and exposure to global credit risk management standards
Ability to understand capital markets products and complex financing and product structures Ability to provide strategic insights and strong sensitivity to macro and regulatory issues, and impact of such issues on the various Risk families, including operational and franchise risks
Able to discuss and address issues associated with the allocation of risk assets and risk capital in partnership with banking and product organizations Proven ability to effectively engage with regulators and internal control functions including Internal Audit and Fundamental Credit Risk as well as with external audit



CLIENT RELATIONSHIPS / BUSINESS PARTNERSHIP:


Proven ability to understand nuances of local markets, local regulation, and the capabilities and practices of competitors Navigates organizational complexity and breaks silos Creates and sustains a network of strong partnerships with the business in all segments & geographies and other risk functions Provides well-reasoned, balanced assessments of risk/return trade-offs associated with transactions and client relationships Proven track record of partnering with global peers in leveraging and implementation of best practices Proven track record on managing individuals and teams on multiple locations, driving strong Culture and Thought Leadership through groups and functions



QUALIFICATIONS:


13+ years risk/risk-related credit work experience in banking/financial institutions
Senior Credit Officer designation or higher is preferred Proven ability to effectively engage with regulators and internal control functions including Internal Audit and Fundamental Credit Risk as well as with external audit Demonstrates strong ethics and integrity Ability to see the 'big picture' in a complex environment
Can make decisions under pressure and short timeline Excellent verbal & written communication skills. Active listening skills.
Demonstrated influencing and negotiating ability, resolve conflicts amongst various constituencies Excellent presentation skills - adept at presenting effectively to audiences of various sizes and various constituencies



Job Family Group:

Institutional Banking


Job Family:

Investment Banking


Time Type:

Full time

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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.

An ARCF Underwriting Director is a motivated, analytical and detail-oriented professional. An Underwriting Director participates in managing the Arch Re portfolio of individual risk and program business in the US Casualty reinsurance marketplace. The position targets several lines of business requiring the utilization of numerous Facultative pricing practices and negotiation skills. In addition to having strong analytical skills and experience in Microsoft Excel, an Underwriting Director is eager to interact internally within a team setting, as well as engage extensively with brokers and direct clients. An Underwriting Director is also open to learning actuarial techniques, contract wording specifics and database analysis. The position reports directly to the Managing Director of Arch Re Casualty Facultative and requires 20%-30% travel.

Job Responsibilities

***Must be based in the LA area***

• Develop direct client and broker relationships at all levels
• Build and manage submission flow
• Underwrite and negotiate profitable Casualty Facultative transactions, both new and renewal
• Execute preliminary analysis of potential business opportunities and swiftly determine profitability and acceptability based on corporate guidelines and standards
• Perform all aspects of the underwriting analysis process from preparing submission data provided by the client/broker for pricing to producing underwriting files, reports, presentations, referrals, etc
• Prepare reinsurance documents (broker slips, binders, certificates, endorsements, bordereaus, etc.) and ensure all file documentation complies with underwriting, authority, and audit standards
• Proactively and independently seek out previously undetected, current, or future exposures and market trends and propose and implement robust, comprehensive solutions
• Act as liaison and point of contact for both operational and underwriting inquiries from both new and tenured employees

***Must be based in the LA area***

• Develop direct client and broker relationships at all levels
• Build and manage submission flow
• Underwrite and negotiate profitable Casualty Facultative transactions, both new and renewal
• Execute preliminary analysis of potential business opportunities and swiftly determine profitability and acceptability based on corporate guidelines and standards
• Perform all aspects of the underwriting analysis process from preparing submission data provided by the client/broker for pricing to producing underwriting files, reports, presentations, referrals, etc
• Prepare reinsurance documents (broker slips, binders, certificates, endorsements, bordereaus, etc.) and ensure all file documentation complies with underwriting, authority, and audit standards
• Proactively and independently seek out previously undetected, current, or future exposures and market trends and propose and implement robust, comprehensive solutions
• Act as liaison and point of contact for both operational and underwriting inquiries from both new and tenured employees

Required Skills/Experience

• Bachelor's degree (ideally with a degree/major in Economics, Business, Finance, or Accounting) or equivalent training required
• Additional industry-specific study and designations (CPCU, ARe) a plus

Desired Skills/Experience

• Proven ability to work as part of a highly productive team
• Strong work ethic and “hustle”-factor
• Independent and innovative thinker with creative problem-solving skills
• Demonstrated customer-service focus coupled with strong negotiation skills
• Strong underwriting acumen including an understanding of Casualty exposures, reinsurance structures, policy forms, and claims/actuarial concepts
• Excellent written and verbal communication skills, including the ability to generate reports and presentations for senior management using an array of data sources
• Sound Computer/Technology skills
• Desire for continued learning

Education

• 5-10+ years Casualty insurer or reinsurer underwriting experience

The Company

Arch Re is a well-capitalized, leading diversified insurer that focuses on supplying significant capacity to the global reinsurance marketplace. We have the worldwide reach, agility and resources to support ceding companies capitalizing on changing market conditions and new opportunities in various lines and geographic areas around the globe. Our business strategy keeps operational controls tight and costs low, helping to maximize efficiencies for our broker partners. A subsidiary of Arch Capital Group Ltd., Arch Re has been recognized by clients around the globe for providing expert underwriting, skilled claims management, outstanding service and world-class product offerings.

Arch Capital Group Ltd. is a Bermuda-based company which provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Arch offers competitive pay and a comprehensive benefits package. Additionally, Arch is committed to helping its associates create what's next by providing access to a variety of programs supporting your professional development and a culture that encourages innovation, collaboration and professional growth. We seek talent that thinks innovatively, values collaboration and will go the extra mile to serve our customers and develop our company.

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