Sr. Consultant, Underwriting (Institutional Life Insurance)

Nationwide•Nebraska, NC

2d•Remote

About The Position

Are you passionate about being part of a team at a Fortune 100 company with nearly $70 billion in annual sales that delivers extraordinary care to help individuals and businesses prepare for and protect their future? If so, then Nationwide Financial could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers and partners are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care. Responsible for examining all prospective bank-owned, corporate-owned and corporate-sponsored, individually-owned life insurance policies. You will assess and analyze a bank or company's risk profile and case design to determine the appropriate underwriting offer, coverage, term and conditions. Our underwriters work hard to provide the exceptional customer experience for which Nationwide is known. Effectively engaging with our firms and financial professionals to get to know their clients and their needs builds our understanding of the market, what is needed to win business and put our best offer out first. If you thrive working autonomously, making decisions on a variety of impactful issues and continuing to learn and adapt to grow, we want to know more about you! As a Senior Life Underwriting Consultant, you'll analyze, select and classify applications for life insurance of considerable technical complexity and exposure to ensure underwriting quality in accordance with established policies, practices and standards. You'll review and make decisions regarding the largest, most complex or unusual business. You'll be a subject matter authority for others who need advice on sophisticated underwriting concepts (both medical and financial) and will at times be involved in projects that are setting philosophy for Nationwide’s underwriting.

Requirements

License/Certification/Designation: Series 6 Series SIE
Experience: A minimum of three years experience in corporate – owned life and corporate sponsored insurance underwriting
Knowledge of plan design structures of both corporate owned and corporate sponsored policies
Knowledge of complex financial statements
Knowledge of reinsurance – both automatic and facultative
Knowledge of regulatory issues and market conditions
Knowledge of medical underwriting
Ability to evaluate risk
Excellent verbal and written communication skills
Undergraduate studies in medical related discipline, marketing, insurance, risk management, economics, finance or business management preferred.
More than 10 years of life underwriting and brokerage experience, including five or more years of large case (more than $10 million) review experience.
Significant experience with both financial and medical underwriting of life applications.
Medical Underwriting: Understands the anatomy of the human body and disease processes and can assess the impact of an individual’s mortality and morbidity risk and can translate that to assess the appropriate risk classification.
Extensive knowledge of risk selection, brokerage experience, and older age underwriting.
Knowledge of sophisticated life underwriting policies, practices, and procedures and techniques.
Knowledge of alternative rating methods and plans and pricing theory.
Knowledge of regulatory issues, life insurance market conditions, and company operations.
Broad understanding of life insurance lines of business.
Outstanding and written communication skills for internal/external contacts.
Outstanding teamwork and presentation skills in individual or group settings.
Outstanding negotiation skills and ability to partner with reinsurers and outside sales agencies/firms.
Agile and adaptable.
Advanced ability to deal with ambiguity in a flexible and responsive manner.
Can work with a highly technical team.
Ability to coach, train and mentor underwriting personnel with diverse levels of expertise.
Ability to make decisions on highly complex issues and work with minimal direction.
Excellent judgment and creative problem-solving skills including conflict resolution skills.
Ability to work with the brokerage distribution system.
Ability to analyze highly sophisticated insurance risks to assess acceptability including policy language, alternative rating plans, methodologies, and reinsurance.
Demonstrates strong resilience and leads others through change.
Fosters an outside-in perspective; student of the industry who continuously shares findings and ideas with leadership and the team.

Nice To Haves

LOMA Level 1 Certificate (LOMA 280, LOMA 290) preferred.
Participation in, or attainment of, professional/technical studies or designation such as the Chartered Life Underwriter (CLU), Fellow of Life Management Institute, (FLMI), or Fellow of the Academy of Life Underwriting (FALU) preferred.
FALU (all AALU reqs, ALU 301, three fellowship electives) preferred with CLU or advance sales concept training.
EKG Certified preferred.

Responsibilities

Case Evaluation and Financial Analysis Independently assess applications for guaranteed issue, simplified issue, or regular issue, making informed decisions based on underwriting criteria.
Underwrite lives on a medical basis as needed, utilizing expertise to accurately assess risk.
Analyze financial statements, SEC 10-K and 10-Q filings, and FDIC reports to inform underwriting decisions and risk assessments.
Evaluate and determine the insurable interest of organizational structures, making independent recommendations based on findings.
Plan Design Lead the evaluation and approval of plan design modifications, ensuring alignment with company policies and market needs.
Compliance and Risk Mitigation Understand and apply reinsurance treaty terms
Make decisions that uphold compliance and mitigate risk
Continuously update and apply in-depth knowledge of underwriting guidelines, making independent judgments in complex cases
Receives, evaluates and underwrites, on a medical or non-medical basis more complex applications for life insurance up to their maximum handling limit as approved by the Chief Underwriter.
Protects the confidentiality of documentation and information acquired throughout the underwriting process.
Works within broad limits and authority, with minimal oversight, on highly sophisticated assignments requiring niche knowledge in area of expertise.
Maintains in-depth knowledge of manuals, underwriting materials, rules, regulations, procedures medical factors and practices impacting mortality and morbidity underwriting.
Maintains solid understanding of all underwriting administrative systems to conduct business and provides outstanding service to all internal and external customers and field partners.
Evaluates and accesses applications requiring additional evidence of insurability.
Determines the need for and authorizes the ordering of, underwriting requirements to include, but not limited to, medical examinations, blood profiles, home office specimens, attending physician reports, inspection reports, client direct interviews, and other essential information.
Develops a strong understanding of the accelerated underwriting process and can apply risk-based decision-making skills to determine the appropriate requirements needed to provide protective value as well as determining appropriate risk class. This may include but not limited to, making fluid-less underwriting decisions as well as the utilization of alternative sources of medical information while maintaining appropriate tolerance for accepting risk.
Consults with other underwriters on the team and accepts referred cases when designated.
Suggests innovative solutions, motivates team performance and facilitates open communication to achieve desired results.
Supervises the handling of unusual or complicated cases.
Evaluates, appraises and quantifies data derived from personal or business financial information and establishes insurable interest in keeping with the principle of indemnification.
Handles the most complex financial underwriting applications and often assists others through referrals and training on financial underwriting.
Reaches terms on, coordinates, and negotiates both automatic and facultative reinsurance on highly complex reinsurance situations within the contractual terms and conditions of Nationwide's various reinsurance treaties and product and market practices.
Works on special projects as assigned and may work on projects with little to no direction, including project plans, requirements, timelines, etc.
Meets and presents with field partners as the need arises.
Acquires input and feedback during these visits to gain a greater understanding of our partners’ needs and expectations.
Determines eligibility for temporary insurance and authorizes disbursement of policy refunds if the Temporary Insurance Agreement (TIA) is not eligible. Also authorizes reimbursement and for medical records or other fees requested as associated with requirements needed to confirm evidence of insurability.
Interprets electrocardiogram tracings received as evidence for life insurance applications.
Consults with Medical Director as needed for cases where physician input is required.
Consults with Chief Underwriter, Staff Underwriting, Senior Underwriting Consultants, and the Medical Director as the need arises.
Supports and assists in meeting goals and objectives for varying territories, special agent programs and contests.
Resolves challenges with effective solutions while maintaining focus on improving time service, quality of application submissions and underwriting quality and wastage.
Handling up to $20,000,000 for life, up to $1,500,000 sign off for morbidity underwriting, and sign off authority for exceptions on Intelligent Underwriting.
May perform other responsibilities as assigned.

Benefits

medical/dental/vision
life insurance
short and long term disability coverage
paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date
nine paid holidays
8 hours of Lifetime paid time off
8 hours of Unity Day paid time off
401(k) with company match
company-paid pension plan
business casual attire