The Director of Underwriting and Stop Loss Services will lead and mentor an underwriting team that will be responsible for the development and implementation of underwriting strategies, management of the underwriting process, and collaboration with other departments to achieve the company's goals. This role is crucial in assessing and managing risk for our client’s medical, pharmacy, stop loss and dental programs ensuring that we provide accurate and competitive insurance solutions.
The qualified candidate must be knowledgeable in the spectrum of employer-sponsored health & welfare related plans, including federal and state regulations that impact these plans.
Primary Responsibilities and Duties:
- Lead a team that collects, analyzes, and prepares financial rate, benefit and claim information to support the activities of the client team; ensures that outgoing client deliverables are accurate and peer reviewed.
- Assess and analyze risk to determine the appropriate level of coverage and premiums.
- Collaborate with actuarial, claims, and finance departments to ensure comprehensive risk assessment.
- Maintain up to date knowledge of industry trends, regulations, and best practices.
- Ensure compliance with all relevant laws, regulations, and company policies.
- Director of Underwriting and Stop Loss Services is responsible for the management, continued development, and success of the Stop Loss Centers of Excellence (SL COE).
- Conduct client meetings/conference calls regularly with team members.
- Conduct Consultant and Vendor meetings and participates in internal and external training(s).
- Maintain and foster relationships with COE Carrier Partners and platform vendors such as Ringmaster, Claros, Self-Insured Reporting and Data Warehouse partners.
- Responsible for independently managing components of project (tasks).
- Proactively conducts research using own judgement and knowledge, skills, and expertise and produces financial analytics via collection, analysis, and interpretation of data for client deliverables.
Requirements and Qualifications:
- Bachelor’s degree in Business, Finance, Insurance, or a related field
- Professional designation (e.g., CPCU, ARM) preferred.
- Minimum of 10 years of underwriting experience in the insurance industry, with at least 5 years in a leadership role and demonstrated success of leading in a highly complex and matrixed organization.
- Experience with both fully insured and self-funded benefit programs is highly desirable.
- Excellent verbal and written communication skills, with the ability to present complex financial data.
- Highly analytical with strong, proactive problem-solving skills, capable of translating financial data into actionable business insights.
- Advanced knowledge of financial modeling, forecasting, and actuarial principles related to employee benefits.
- Strong understanding of regulatory requirements and industry best practices related to underwriting and employee benefits.
- Proven ability to lead and manage a team effectively.
- In-Depth knowledge of underwriting principles, practices, and regulations.
- Strong organizational skills and attention to detail that reflect ability to perform and prioritize multiple tasks seamlessly with excellent attention to detail.
- Strong proficiency in Microsoft Office Products (WORD, Power Point) with advanced knowledge of Excel.
- Knowledge of data analysis, project management, and presentation design.
Other Supervisory Responsibilities:
- Recruits, interviews, hires, and trains new staff in the department.
- Oversees the daily workflow of the department.
- Provides constructive and timely performance evaluations.
- Handles discipline and termination of employees in accordance with company policy.
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices and nearly 5,000 employees across the US and Canada.
Our industry recognition includes being named a Best Places to Work in Insurance for the past five years (2018-2022) and on the Inc. 5000 list as one of America’s Fastest Growing Private Companies. We are committed to being good stewards for our company, culture, and communities by having a strong focus on Environmental, Social, and Governance issues.
Risk Strategies is an equal opportunity workplace and is committed to ensuring equal employment opportunity without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, Veteran status, or other legally protected characteristics. Learn more about working at Risk Strategies by visiting our careers page: www.risk-strategies.com/careers.
