Underwriting Leader, Representations and Warranties - M&A Financial Lines

AIG • Washington, DC

1d • $250,000 - $290,000 • Onsite

About The Position

AIG Underwriting teams help to find insurance solutions in areas including Financial Lines, Property, Casualty, Specialty Lines, Cyber, and Multinational Clients. We are reimagining how we help customers to manage risk, transforming our operating model and reshaping our role responsibilities and career pathways. The goal is to unlock the full potential in each colleague – empowering our people to grow as insurance professionals and add more value to our customers and AIG.

This key leadership role focuses on technical underwriting of complex and sophisticated insurable risks as they relate to Representations and Warranties transactions (including analysis of deal documents and due diligence) and development of relationships with M&A source producers (brokers, lawyers, private equity fund principals, and corporate professionals). The Underwriting Leader will be responsible for the structuring, underwriting and negotiation of transactional insurance solutions, with a principal focus on representations and warranties insurance, and will provide leadership and technical guidance throughout the underwriting process.

Requirements

• Exceptional written and oral communication skills, including advanced proficiency in drafting clear, precise legal and commercial documents;
• Advanced understanding of complex corporate structuring and financing arrangements;
• Demonstrated ability to lead negotiations with commercially and legally sophisticated advisors, brokers and clients;
• Highly focused, enthusiastic and creative thinker with strong judgment and a solutions-oriented approach to novel or complex issues;
• Demonstrated ability to lead and manage multiple complex underwriting processes, assess and prioritize material risks, coordinate stakeholders and maintain organization under demanding transaction timelines;
• Strong interpersonal and leadership skills, with a demonstrated ability to collaborate effectively across functions, geographies and levels of seniority;
• Proven ability to make sound commercial decisions against a backdrop of complex legal, financial and underwriting risk assessment;
• Ability to operate with a high degree of independence, initiative, accountability and professional judgment.
• Advanced competency in understanding complex corporate M&A transactions and drafting transaction documents;
• Advanced negotiating and relationship-management skills, including the ability to influence outcomes and resolve complex issues;
• Deep knowledge of transactional legal exposures (warranty breaches, tax structuring issues, litigation and the computation and measure of damages);
• Strong financial and commercial acumen, including the ability to analyze financial statements, financial reports, quality of earnings reports and other commercial due diligence materials;
• Demonstrated ability to prepare and deliver compelling presentations to brokers, regional offices, legal advisors, clients and other sophisticated audiences;
• At least 7 years of professional experience in M&A legal, underwriting, corporate finance or another relevant business discipline, including at least 3 years of direct underwriting experience with M&A insurance products;
• Significant experience with insurance sector or other financial institutions, including a strong understanding of underwriting discipline, portfolio considerations and the M&A insurance marketplace.

Responsibilities

• Conduct background research on the parties to a particular transaction and the industries in which they operate.
• Review and understand the client's motivation for requesting the insurance coverage, the role the insurance is playing in the transaction, and the value of the insurance to the transaction.
• Review and understand the agreements and other documentation relevant to the analysis and assessment of the risk.
• Analyze and assess complex and highly negotiated risks in accordance with the relevant product line policies and procedures, exercising sound judgment on coverage, structure, pricing and risk selection.
• Prepare and negotiate non-binding indication letters, insurance policies and binder agreements.
• Serve as a key point of contact for clients, client’s advisors, brokers and other deal professionals, providing clear, commercially focused guidance throughout the underwriting process.
• Lead and participate on underwriting conference calls.
• Manage the underwriting process and the selection of and work performed by outside counsel and other advisors.
• Present preliminary findings and conclusions to management.
• Provide technical guidance, coaching and support to less experienced underwriters, analysts, and other team members and contribute to consistent underwriting practices across the Group.
• Participate in the marketing of transactional insurance products to brokers, private equity firms, law firms, investment banks, accounting firms, consulting firms and prospective clients, with a focus on strengthening strategic relationships and identifying new business opportunities.
• Develop and deliver sophisticated presentation, marketing and informational materials tailored to clients, brokers and other M&A professionals.
• Help develop, refine and enhance the suite of transactional insurance products offered to our clients based on market developments, claims experience and evolving transaction structures.
• Contribute to the formulation and implementation of the Group’s strategy at the product line level, including underwriting appetite, portfolio quality, broker engagement and profitable growth initiatives.

Benefits

• bonus in accordance with the terms of the applicable incentive plan
• Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed