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The V.P. Insurance New Business & Underwriting/ Chief Underwriter position is responsible for the Company's underwriting of individual life and disability income insurance. The position is responsible for managing all technical underwriting decisions and guidelines, new business operations and the underwriting services vendors. Works with the Reinsurance Officer in Insurance Products to establish and maintain reinsurance programs. This position has approval authorities within our retention limits.
Lead Insurance Underwriting, New Business operations and UW Vendor Management for RiverSource life and disability insurance. Also oversees medical director and works with them and UW team to review complex cases.
Provide strategic leadership, budgeting and tracking of financials, and quality review process for Underwriting department. Adapt strategies to changing circumstances as required. Clearly communicate the strategic direction to the team and key partners, including spokesperson to RVS wholesaling and AMP advisors about our UW and new business processes.
Lead the development, review, and adherence to sound underwriting guidelines that align to our priorities and reinsurance guidelines. Manage problem resolution and case specific resolution authority on Underwriting cases which require escalation.
Lead projects in underwriting and new business, including technology initiatives, process improvement and re-engineering efforts to ensure department is operating in an efficient, effective, cost-effective manner.
Partner with reinsurance officer, GCO, Compliance, and Regulatory to assess and prevent risk events for the company. Additional internal partners include Technology, Wholesaling, Marketing, Internal Audit, Claims, etc.
Ensure effective controls are in place to proactively manage risk and remain in compliance with company policies and procedures and government regulations.
Provides leadership to staff and direct reports, including goal setting, mentoring, coaching, and providing ongoing performance feedback.
CLU, FALU, ChFC, CFP or FLMI
Compliance/regulatory/legal knowledge; requires a firm grasp of contract law, suitability and market conduct issues.
Deep knowledge of Insurance products, guidelines and processes.
Medical knowledge; in depth understanding of anatomy, physiology, medical impairments, medical tests, etc.
Financial/insurance knowledge including estate, tax, retirement, and investment planning.