Senior Vice President, Head of Workers Compensation

Job Description

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Responsibilities

• Execute the long-term strategic vision and annual business plans for the Ascot WC business unit, achieving profitability and growth objectives.
• Identify strategic brokers and facilitate effective partnerships with underwriting and partnership engagement.
• Collaborate closely with all key functional areas including but not limited to: Actuarial, FP&A, IT, Claims, Finance, Risk Management, Ceded Re and Ascot’s CUO office.
• Establish and communicate production and profit related goals including new business development, distribution platform management, target loss ratios, hit ratios, renewal retention, etc.
• Identify emerging market trends, actively monitor jurisdictional performance and proactively manage the WC portfolio based on market conditions.
• Provide leadership, mentoring and advice to division staff regarding underwriting risks.
• Foster an inclusive, solution-oriented culture that attracts, develops and retains top talent.
• Assist as requested to proactively develop strategies and actions to resolve adverse trends or deviations from established underwriting standards.
• Develop and maintain effective relationships with the Workers Compensation and distribution community at a senior level.
• Take a leading role in promoting other Ascot Underwriting products.
• Partner with Ascot’s Ceded Reinsurance team to prepare and execute treaty reinsurance objectives.
• Act as a role model demonstrating belief in, and commitment to, the aspiration values of the Ascot continuing to build and lead a value‑based organization committed to long‑term success.
• Commitment to The Ascot Way: As a member of the Workers Compensation leadership team, the SVP, Head of Workers Compensation, will embody The Ascot Way in their daily interaction with colleagues, fostering colleague engagement and development, collaboration, inclusivity, and individual accountability.

Requirements

• Bachelor’s degree preferred and minimum of 15+ years in the property and casualty insurance industry, with significant focus on the workers compensation line of business.
• Minimum of 10 years of leadership experience; P & L accountability and budgeting strongly desired.
• Strong market recognition, with extensive retail relationships.
• Demonstrates knowledge of the WC external market, producer community, competitive environment and contributes to the development of business strategy.
• Superior oral and written communication skills with the ability to influence decisions.
• Ability to influence, motivate and promote a team atmosphere to achieve desired results.
• Recognized as a leader within the organization that provides advice and guidance to others.
• Ability to read, understand and interpret company financial and actuarial reports to achieve business goals.
• Strong ability to partner with claims, finance, actuarial, IT and marketing resources.
• Independent decision maker – takes full responsibility for making decisions and consequences associated with decisions.
• Demonstrate significant contribution to underwriting profit.
• Continually seeks opportunities for niche products and potential agent opportunities.
• Experience in delivering presentations to internal and external audiences.
• Requires demonstrated experience in developing and implementing an annual department business plan.
• Proven employee development, mentoring, coaching and performance management skills.
• Recognized as a leader within the organization that provides advice and guidance to others.
• Ability to travel as needed, and with short notice.

Compensation

Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot’s total compensation package for employees. Other rewards may include an annual cash bonus and other forms of discretionary compensation awarded by the Company.

The annualized base pay range for this role for New York Metro, Chicago, and Denver is: $300,000 - $320,000.

Company Benefits

• Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more.
• Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver).
• Retirement Benefits: Contributory Savings Plan (401k).