Senior Director, Credit Insurance Risk Management

Enact Holdings•Raleigh, NC

14d•Hybrid

About The Position

At Enact Mortgage Insurance (Nasdaq: ACT), we understand that there’s no place like home. That’s why we bring our deep expertise, insightful offerings, and extra mile service to work every day to help lenders put more people in homes and keep them there. We’re looking for a Senior Director of Credit Insurance Risk Management in Raleigh, NC to join us in fulfilling our mission, while utilizing our values of excellence, improvement, and connection. In this role, you will lead the oversight of our Bermuda-based business unit. You will serve as the Risk Management leader for Enact Re and take a hands-on approach to develop foundational risk management capabilities and provide strategic input and oversight of credit and counterparty risk, insurance underwriting risk, portfolio monitoring, and new product development. You will also be required to provide Risk Management reporting to senior management, the Board of Directors, and the Bermuda Monetary Authority. This role reports to the Executive Vice President & Chief Risk Officer of Enact and serves as a key advisor to the senior management of Enact Re in ensuring a strong Enterprise Risk Management program across the business. LOCATION Enact Headquarters, Raleigh, NC – Hybrid Schedule

Requirements

Bachelor’s degree in Risk Management, Finance, Business Administration, Actuarial Science, or a related field.
Minimum of 10 years of experience in credit risk management, preferably with oversight of, or direct experience in, credit (re)insurance underwriting within the insurance or reinsurance industry.
Experience with economic, regulatory, and rating agency capital frameworks and development of risk appetite and limits to remain within targeted capital requirements.
Strong knowledge and ability to ensure compliance with regulatory risk management requirements.
Experience in the development and management of enterprise risk management frameworks aligned with insurance industry best practices.
Excellent analytical, problem-solving, and decision-making skills.
Strong leadership and team management abilities with experience developing talent.
Self-motivated and action-oriented, with a strong sense of ownership and the ability to drive initiatives forward with minimal supervision.
Ability to summarize and present analyses to both technical and non-technical stakeholders.
Demonstrated ability to communicate complex information clearly and effectively, including preparing and delivering presentations to senior management and board-level audiences.
Proficiency in financial modeling and analytical software and tools.

Nice To Haves

Advanced degree preferred.
Relevant professional certifications in Risk Management, Credit Risk Management, or Actuarial Science designations are a plus.

Responsibilities

Active, hands-on development and implementation of foundational risk management frameworks and policies to ensure strong credit and counterparty risk, insurance underwriting risk, and portfolio management capabilities.
Develop qualitative and quantitative assessments for both existing and new business opportunities using internal and external models, analytical tools, and rating models.
Assist in the creation of the Company Risk Appetite and its translation to appropriate underwriting policy limits and guidelines, including exception and approval processes.
Create and document a portfolio management framework that includes defining key data collection elements, key risk indicators, and monitoring reports with assessments of new and emerging risks to the Company and portfolio performance. Ensure compliance within approved limits.
Conduct initial and ongoing credit and counterparty due diligence and risk assessments for insurance and reinsurance counterparties and strategic partners. Develop the required tools and ratings frameworks to ensure consistency and transparency across multiple risk classes.
Develop scenario analysis and stress tests and, based on this analysis, collaborate with supporting business functions to develop appropriate mitigation strategies.
Ensure proper oversight, governance, and compliance with regulatory risk management requirements and industry best practices for a Bermuda-based business unit, including oversight of the preparation and the submission of the Company’s annual Commercial Insurer Solvency Self-Assessment (CISSA) filing.
Prepare and present regular risk assessment and portfolio monitoring reports to senior management, the board of directors, and regulators.
Engage external parties and conduct independent research to learn industry standard techniques and promote innovative approaches to improve the existing suite of analytical tools.
Provide strategic input to influence strategy, offering analytical insights into the risks and opportunities of entering new markets and product lines in support of long-term growth objectives.