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Senior Financial Institutions Underwriter – Professional and Management Liability
3 months ago
Opportunity Overview
This position offers a chance to become part of AXIS Insurance, a reputable global leader in specialty lines insurance and reinsurance. We distinguish ourselves through exceptional client service, prudent risk management, and impressive risk-adjusted returns for our stakeholders. Our corporate culture is built on entrepreneurial spirit, discipline, and ethics.
At AXIS, we recognize that our strength lies in our people. We are committed to fostering an inclusive and supportive environment where employees from diverse backgrounds feel empowered to express their authentic selves.
We ensure that all qualified candidates receive fair consideration for employment, regardless of race, color, religion, gender, sexual orientation, national origin, disability, age, or any other legally protected characteristic. Accommodations are available upon request for candidates participating in the selection process.
Position SummaryThe Senior Underwriter for Financial Institutions will operate within established guidelines to assess, review, and monitor new and renewal accounts for various financial entities, including public and private banks, insurance firms, hedge funds, and investment advisors. The role encompasses management liability, professional liability insurance, and related lines.
In this capacity, Senior Underwriters will utilize independent judgment in managing underwriting tasks, typically overseeing a portfolio with an Underwriting Authority ranging from $3 to $5 million, while developing a book of new and renewal business.
Candidate ProfileThe ideal candidate will be a proactive technical expert with a proven track record in a leading Commercial Insurance Carrier, specializing in Financial Institutions Management and Professional Liability (E&O, D&O, EPL, Fiduciary, and Crime) for Middle Market to Large Accounts.
Applicants should possess extensive connections within the Financial Institutions retail broker sector and have comprehensive experience in portfolio management, including solicitation of submissions, underwriting analysis, and marketing.
Moreover, the candidate must exhibit executive presence, demonstrating proficiency in communication, influence, and relationship-building that enhances the AXIS business portfolio and supports long-term strategic goals.
Work EnvironmentThis role will involve a hybrid work model, with remote work available on designated days while maintaining close relationships with brokers and clients, necessitating occasional travel for industry and company events.
Key Responsibilities- Engage in prospecting by identifying new business opportunities and collaborating with Key Financial Institutions Retail Brokers to secure proposals.
- Evaluate national new and renewal business in accordance with company underwriting standards, developing strategies and recommendations.
- Assess coverage requests from agents and determine the department's stance within the granted authority.
- Analyze and underwrite individual risks, establishing appropriate limits, retention, pricing, and endorsements.
- Manage a personal portfolio of business, focusing on new lines, renewals, and cross-marketing of products.
- Meet divisional service objectives, including quote turnaround and policy issuance, while ensuring data integrity in the underwriting system.
- Conduct regular marketing visits to brokers, solicit new accounts, and gather market intelligence.
- Maintain select agency relationships to achieve departmental objectives.
- Travel as necessary for marketing and client meetings.
- Continuously enhance product and underwriting knowledge.
- Stay informed about economic and legal factors affecting the department's lines of business and the insurance industry.
- Participate in projects or perform related tasks as needed.
- Coordinate with branch marketing and profit center representatives for cross-marketing opportunities.
- Bachelor's degree.
- A minimum of 3 years of experience in Financial Institutions executive liability underwriting.
- Advanced technical expertise and knowledge of insurance and underwriting principles.
- Experience in assessing company financials and managing individual portfolios.
- Understanding of risk management principles with the ability to analyze data and provide insights.
- Proficiency in Microsoft Office applications (Outlook, Word, Excel, PowerPoint).
- Strong negotiation and marketing skills.
- Team-oriented with excellent presentation abilities.
- Solid foundation in financial analysis and policy language interpretation.
- Established relationships with brokers and proven marketing capabilities.