Senior Underwriter Financial Institutions

Coaction Global•Morristown, NJ

2d•$116,000 - $148,000

About The Position

At Coaction, we’re a unique mix of leaders, achievers, thinkers, and team players with a high-performance mindset and a diverse skillset. We bring our industry expertise together to continually push the boundaries of what insurance can be for our clients. The Senior Underwriter possesses strong analytical and interpersonal skills to effectively promote and position and market our organization, our business model as well as products and services. This will require such Senior Underwriter to think strategically, determine measurable goals and objectives, create strong relationships with distribution, lead a team to successful outcomes, understand Coaction’s appetite and be product and subject matter expert on the changing landscape of the industries and customer needs within our Financial Institutions and Credit Union program offerings.

Requirements

Bachelor’s degree or equivalent experience preferably in finance, insurance, risk management, accounting, economics or related field of study
Minimum of 5 years’ experience underwriting professional liability lines of business
Proven ability to underwrite complex financial institution risks such as banks, credit unions, investments advisors, insurance companies
Strong customer-oriented product management skills
Strong negotiation skills
Ability to explain underwriting decisions
Familiarity with loss history analysis, financial analysis
Superior communication and organizational skills
Strong project and people management skills
Must be able to identify exposures and hazards and willingness to learn
Ability to distill complex concepts into simpler examples
Strong decision-making skills

Nice To Haves

CPCU or ARM preferred

Responsibilities

Analyze and underwrite complex financial institutions such as banks, insurance companies, credit unions, investment banks, investment advisers, fund structures, hedge funds, private equity firms, venture capitalists, equity and bond exchanges, market makers, high frequency traders, FINTECHs, INSURETECHs, decentralized finance organizations and others.
Assess and analyze regulatory exposure, financial strength, corporate governance, internal controls, regulatory status and claims/loss history
Determine appropriate coverage terms, pricing and insurance program structure
Prepare and document risk assessments, underwriting authority referrals and pricing justification in accordance with underwriting guidelines
Achieve premium, profit and expense targets goals
Build and maintain strong broker and client front office relationships
Respond promptly to submissions, inquiries, product questions, quote and other service requests
Represent Co/Action Specialty brand at meetings, conference calls and industry events
Adhere to portfolio steering and management specifications
Maintain bottom-line oriented underwriting discipline and profitability
Monitor aggregate exposures
Assist in business planning and forecast of financial results
Ensure all policy and underwriting file documentation is accurate and complete
Collaborate with the FI, CU and other teams at Co/Action
Monitor industry trends, regulatory developments and financial sector-specific news
Stay informed of peer underwriting behavior, product offerings and ratings actions
Contribute to product development, thought leadership and strategy