Director of Insurance Underwriting Quality Reviews

Our client, a blue chip insurance company in downtown Chicago, is looking for a Director of Underwriting Quality Reviews to join their newly formed team. This role will assist in the creation and development of the Underwriting Quality Review function. This function is in development and has the attention and commitment of senior management and the Audit Committee. The ideal candidate is a self-starter, great collaborator and has demonstrated success working in a business partnering capacity. The candidate will have a minimum of ten years of experience, encompassing underwriting operations audits as well as carrier delegated authority compliance. Understanding of Managing General Underwriting agreements is preferred.

Responsibilities:

• Design, manage, and conduct risk-based quality reviews of managing general underwriters’ (MGUs) policies, to determine compliance of underwriting guidelines provided by capital partners.
• Manage quality review planning, including risk assessment, scope development, review and refinement of quality review work programs and staff assignments/logistics.
• Develop a process for sampling and cadence of reviews of MGUs depending on certain risk factors.
• Verify delegated underwriting authority limits have not been breached.
• Validate the MGU is abiding by the terms of contractual agreements and Underwriting Guidelines.
• Ensure policy files meet minimum compliance standards and work with management to address deficiencies in order to maintain best practices.
• Work with RSUM Leadership on design of review processes, appropriate review parameters, in order to align with leadership requirements and expectations.
• Guide and develop the Underwriting Quality Review team to effectively execute the required quality reviews and compliance activities.
• Create executive quality review reports that summarize the findings and recommendations to be distributed to MGU leadership and divisional senior management.
• Liaise with the business to socialize review issues and obtain buy-in for recommendations and finalization of quality review reports.
• Develop a tracking tool to make sure quality review recommendations and findings are being monitored for completion.
• Monitor and report on the status of historical quality review findings, making sure findings have been corrected and procedures have been implemented to mitigate quality issues going forward.
• Familiarize yourself with processes and procedures of other internal teams to make sure quality reviews are being conducted with these processes and procedures in mind.

Job Qualifications

• Bachelor’s degree is required.
• 10+ years of relevant audit and insurance experience required.
• Exposure to underwriting process or workflow preferred.
• Insurance-related field or professional insurance designation (CPCU, AAI, CIC, ARM ) is a plus.
• Previous experience as a lead in a functional area, managing cross functional teams or supervisory experience a plus.
• Track record of successfully identifying and implementing process improvements.
• Work autonomously and is objective and rigorous in their approach.
• Has strong communication skills (oral and writing, including formal report writing).
• Is a strategic thinker with strong business acumen who is also results oriented and pragmatic.
• Self-motivated, works well in a team environment and works well independently.
• Computer proficiency.