Assistant Vice President, Underwriting Operations (Workers' Comp)

Encova Insurance

15d•Remote

About The Position

Encova Insurance has an opening for an Assistant Vice President, Underwriting Operations, Workers' Compensation. This role will have the option to work home-based but you must reside within one of our payroll approved states. These states can be viewed on our careers page. Are you a Referral? If you know a current Encova Insurance associate and would like to apply as a referral, please encourage them to submit your referral information before you submit your application. You will receive an email with a direct URL link to the Job Posting of interest. Applying through this URL link will create your referral relationship for our Talent Acquisition Team. Unique residence requirements are listed in each job posting, please review closely for details. Encova is only able to employ associates who reside and work within specific U.S. states. Our current policies are based on the laws in states in which we are registered for payroll. Our current footprint includes: Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, Wisconsin. JOB OBJECTIVE: The Assistant Vice President, Underwriting Operations leads technical underwriting disciplines for Commercial Lines. This position manages the Commercial Lines Segment Managers and other underwriting support. This role coaches, trains and mentors internal and external stakeholders on underwriting and related product guidelines, standards and other technical underwriting disciplines. The role leads the development and utilization of quantitative and qualitative business indicators and makes technical decisions and recommendations in accordance with delegated authority and strategic direction. This position analyzes book of business performance and trends and recommends adjustments and responses; reviews changes and compliance requirements and ensures conformance.

Requirements

A Bachelor’s degree from an accredited four-year college or university required. Commensurate experience may be considered.
A minimum of 10 years of experience with a property/casualty insurance carrier handling commercial lines products such as package lines and/or workers’ compensation products is required.
Three plus years management experience preferred.
Core proficiency in leading an underwriting, product development, or operations team tasked with responsibility for developing and managing a profitable book of business on a regional or national scale.
Ability to lead, manage and collaborate effectively.
Ability to apply leadership skills, technical expertise and sound logic to identify and analyze problems and implement effective underwriting and product solutions.
Knowledge of policy and procedures regarding underwriting administration, risk administration and classification, insurance and risk management, accounting or business administration, premium audit or underwriting and loss control.
Superior understanding of the form and content of package lines and/or workers compensation insurance policies.
Demonstrate a solid understanding of compliance issues and regulatory environment in project development and implementation.
Knowledge of cost rating plans and related pricing methods and procedures, and ability to use this information to determine and calculate business exposures, classifications, experience or other rating plan modifications. Understand credit risks in order to determine the appropriate guaranteed cost coverage for each business.
Ability to analyze and evaluate specific complaints and inquiries regarding insurance contracts, coverage, and rating plans.
Ability to read and interpret financial statements.
Excellent interpersonal skills.
Exceptional oral and written communication skills.
Excellent analytical, research, and documentation skills.
Demonstrate sound judgment and work independently or with minimal direction.
Knowledge of design, implementation and interfaces of current systems and applications.
Proficient in Excel.

Nice To Haves

Master’s degree in management preferred.
Experience with project management preferred.
Professional insurance designations relevant to area of expertise desired.

Responsibilities

Lead and manage direct reports in development and implementation of technical underwriting and product subject matter expertise to underwriting teams and other disciplines to support business plan objectives. This includes but is not limited to policies, strategy and tactics, product development, business services, filings, processes and workflows (including automation and business rules), regulatory compliance and market conduct matters.
Lead and manage direct reports in performance of regular quality control and participate in quality audits.
Lead collaboration with senior management on larger, more complex accounts requiring special expertise.
Lead enterprise development projects – including business requirements and timelines – that impact coverage, pricing, rating, systems logic, automation, and best practices.
Lead the development of pricing strategies from the individual risk to portfolio levels using models and methodologies to support a profitable and competitive pricing approach to the market.
Develop and manage direct reports to implement strategic and tactical product and service development initiatives using trend monitoring, feedback from stakeholders and marketplace competitor review.
Lead and manage direct reports and enterprise resources in training internal and external stakeholders on products and services and their associated processes, based on a solid understanding of and impact to field constituents such as agents, underwriting, customer service, marketing and policyholders. Lead development of appropriate supporting materials.
Lead enterprise gathering and analysis of competitor product, service and pricing intelligence (external) and product and service trends/results (internal) and recommend new and revised products, processes and systems.
Create innovative solutions as a result of competitor and internal trend analysis and work with other disciplines to gather input regarding product and service changes and ideas.
Lead and manage direct reports in the development of internal guidelines, policies and procedures that address business needs and support business objectives.
Lead enterprise investigation of compliance and regulatory issues and recommend appropriate business solutions.
Lead the development, use and maintenance of Guaranteed Cost and Loss Sensitive WC Product and related guidelines, monitors and controls.