AVP, Life Underwriting (Chief Underwriter)

Posted on Nov 19, 2018 by JobLeads

Columbus, OH 43085
Insurance
Immediate Start
Annual Salary
Full-Time
If you're passionate about becoming a Nationwide associate and believe you have the potential to be something great, let's talk. Number 54 on the Fortune Magazine 100 Best Places to Work. Role Summary Responsible for the underwriting function of a top 10 life insurance company, with $220B in-force. Develops and implements long- and short-term underwriting strategy, philosophy and processes that support NF business strategies and tactics. Participates in strategic business planning activities to increase market presence and achieve growth/profit objectives. Leads NF Staff Underwriting and Vendor Relations, and Medical & UW Directors. Establishes risk authority for Life Underwriters and Leaders and monitors compliance. Indirectly oversees Underwriting Operations and New Business processing. Develops and maintains critical relationships with Sales Distribution Networks, internal business partners, reinsurers and vendors. Recruits and develops underwriting talent, in part by establishment of continuing education curriculum. Develops underwriting performance objectives and guidelines. Develops and implements effective long- and short-term underwriting strategy/philosophy/processes consistent with Nationwide Financial business strategies for life insurance.Oversees and facilitates cross-functional Underwriting Risk Committee to execute underwriting risk management program for Nationwide's life insurance business.Personal Underwriting Authority limit of $50 million.Acts as a change agent and drives transformational change and continuous improvement of underwriting processes, technology, guidelines, and protocols to ensure profitable sales. Establishes and maintains effective working relationships with sales distribution networks, reinsurers, vendors and internal business partners.Levers these relationships to create advantage for Nationwide's life insurance business.Handles large case referrals and sales appeals. Oversees Staff Underwriting and Vendor Relations to ensure achievement of service level objectives.Leads underwriting audit function and establishes audit objectives and related processes.Responsible for creation and delivery of underwriting learning curriculum.Incorporates voice of the associate within underwriter programs and processes.Responsible for development of life insurance fraud detection and prevention processes and procedures.Continually re-negotiates contracts with vendors to ensure most advantageous terms for Nationwide. Oversee and manage Medical Directors, assuring they meet the needs of NF with timely, accurate and useful consultations and presentations. Assure that the Medical Directors add value to NF in all aspects of the business and meet the needs of NF with timely, accurate and useful consultations and presentations. Assure that the department has adequate quality staffing to meet the needs of Nationwide Financial and runs efficiently. Monitors underwriting performance metrics including mortality and morbidity results.Active participant and decision maker on contestable claims.Represents NF on litigation issues serving as the Underwriting Expert for Legal.Stays abreast of underwriting industry trends, competitor actions, and emerging science; and reacts accordingly to maintain Nationwide's relative competitive position. Manages expense/budget oversight and coaches associate development.Directs the hiring, supervision, training and promotion of candidates regardless of race, religion, national origin, sex, age or disability in support of Nationwide's Affirmative Action Program.Ensures the unique talent development needs of the entire life insurance underwriting population are supported. Performs other duties as assigned. Breadth Across Enterprise This role is responsible for the underwriting function of a top 10 life insurance company with $220B in-force. Role interacts with SVP, VP, AVP and Directors across NF, IPS, Sales, Finance, Actuarial, Business Development, Compliance and Operations daily. Is Nationwide's representative within the industry's life Insurance Underwriting community. Financial Responsibility and Scope Responsible for maintaining Nationwide Financial mortality, profitability and growth. Individual Life insurance annual PTOI of $200M; Annual mortality results of $300M; In-force death benefits of $220B. Leadership Accountability Developing Strategy (60%) - Drives Nationwide's underwriting short and long term strategy to meet our growth and profitability expectations; develops Nationwide's underwriting risk management strategy Providing Input on Strategic Direction (20%) - Represents Underwriting in Product Development, Sales relations, Marketing, Actuarial/Reinsurance relations, Medical and Vendor Management. Actively participates in transformational change initiatives. Executing Strategy (20%) - Leads strategy execution for Staff Underwriting and Vendor Relations daily. Team Composition Within Staff Underwriting, there are 5 Direct (3 G Band Underwriters, 1 G Band Leader and 1 Admin) and 16 Indirect Reports. Also, responsible for monitoring the performance of the Life New Business Underwriting Teams. Within the NF Medical Team, responsible for overseeing AVP, Medical & UW Director and Associate Medical Director (Band 8). Have matrix relationships with 4 Director level underwriting people leaders, responsible for underwriting operations. Education/Certification/Licenses: Undergraduate degree and postgraduate work is preferred. Professional designations such as FALU and FLMI is required. Other designations for consideration would be CLU and ChFC. Experience/Skills: 15+ years of technical life underwriting experience and 10+ years of underwriting leadership. Expert level experience with both financial and medical underwriting of life applications. Broad understanding of life insurance lines of business. Excellent negotiation skills and ability to partner with reinsurers and outside sales agencies/firms. Excellent oral and written communication skills for internal/external contacts. Frequent speaker at industry meetings at the local, regional and national levels. Active leader and member of various industry organizations to include ALU, AHOU, and other national, regional and local underwriting organizations. 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 and Guiding Behaviors. Job Conditions Overtime Eligibility: Not Eligible (Exempt) Working Conditions: Normal office environment. Some travel may be required.

Reference: 569076830