WSP-SVP, Inland Marine

Job Summary

The Vice President, Specialty Underwriting drives the underwriting practice and translates strategies into roadmaps. The role provides strategic leadership and direction to specialty insurance, oversees the underwriting operations and manages a team of underwriting directors and managers. The role drives risk management, manages portfolio, builds relationships, directs compliance oversight and performs talent development activities while driving the success of the Specialty function through effective leadership.

Job Responsibilities

• Develops and implements strategic plans for the Specialty underwriting, aligning with company's overall objectives and market trends.
• Sets performance goals and monitors progress towards achieving them.
• Oversees underwriting operations, manages the underwriting team in assessing complex or specialized risks and making underwriting decisions based on guidelines and company policies.
• Monitors the performance and profitability of the specialty underwriting portfolio.
• Analyzes portfolio data, trends, and emerging risks to make informed decisions on pricing adjustments, risk transfer strategies, and portfolio optimization.
• Evaluates risk exposures and determines appropriate underwriting strategies, pricing and conditions for specialty risks.
• Performs risk analysis, uses technical expertise and industry knowledge to identify and mitigate risks.
• Develops and maintains strong relationships with brokers, clients, and other stakeholders in the specialty insurance or reinsurance market.
• Collaborates with internal and external partners to develop business opportunities, negotiate terms, and resolve issues.
• Stays updated with laws, regulations, and underwriting guidelines.
• Ensures that underwriting practices comply with applicable regulatory requirements.
• Develops and implements internal controls and processes to maintain compliance.
• Builds and develops a high-performing underwriting team.
• Provides coaching, performance feedback and fosters a positive work culture that promotes teamwork and empowers employees to achieve full potential.
• Utilizes data and analytics to analyze underwriting performance, identifies trends, and generate reports.
• Presents findings and recommendations to senior management and other stakeholders to drive informed decision-making.
• Identifies opportunities to improve underwriting processes, tools, and technologies.
• Drives innovation in underwriting practices, leveraging emerging trends and technologies to enhance efficiency, accuracy, and profitability.
• Collaborates with cross-functional teams including other departments such as actuarial, claims, and finance to ensure coordinated and efficient operations.
• Provides input on product development, pricing strategies, and risk management initiatives
  Job Qualifications
  15+ years of experience in Specialty Insurance Underwriting and 5+ years of experience in business and people management.
• Master's degree in Finance, Accounting or Business and/or commensurate work experience.

Job Qualifications

• NA.

Behavioral Competencies

• Directs work
• Collaborates
• Develops talent
• Strategic mindset
• Customer focus
• Communicates effectively
• Ensures accountability
• Drives vision and purpose
• Decision quality
• Business insight
• Nimble learning
• Builds effective teams
• Manages complexity
• Associate in Risk Management (ARM)

Technical Skills

• Underwriting Strategy
• Insurance Industry Knowledge
• Compliance Management
• Financial Analysis & Reporting
• Customer Relationship Management
• Business Development
• Risk Management
• Product Development
• Specialty Underwriting
• Business Process Improvement

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.