Chief Underwriter
The new Chief Underwriter (CUO) will establish the organization’s underwriting function while contributing to the company’s mission, strategic direction and achievement its objectives by creating underwriting plans and leading underwriting staff.
Reporting Relationships
- The CUO reports to the Chief Executive Officer.
- The position directly supervises the underwriting performance of the organization and the underwriting staff.
Duties & Responsibilities
Planning & Organization
- Key contributor to strategic planning including product development and distribution.
- Leads the development of Underwriting Department Plans working with direct reports and other Executives.
- Monitors performance against plan. Develops control processes in overseeing department performance and in support of company objectives.
- Works with direct reports to develop strategies for addressing problems in achieving plan goals or in completing project action steps.
- Leads new product development efforts as directed by CEO
Staff Development & Management
- Define roles, establishes value-based behaviors, assigns responsibilities and key results areas for all positions in underwriting
- Recruits and selects potential new team members in consultation with CEO
- Holds team meetings to monitor performance against team/unit goals and project plans.
- Meets one-on-one with direct reports to set goals and provide feedback. Completes formal performance reviews/evaluations. Holds staff accountable for plan results
- Provides coaching/training to direct reports on a regular basis
- Assures development of adequate technical underwriting training for other departments as needed
- Monitors compensation of direct reports and their staffs to assure adequate motivation
Marketing, Sales & Communication
- Develops distribution strategies in coordination with CEO, Marketing and Sales
- Communicates underwriting results to Board of Directors and other stakeholders in coordination with CEO
- Assists in developing sales strategies
- Presents the company to prospective insureds and other partners
- Assists Marketing in developing brand and educates marketing on products and services to be promoted
Technical (Underwriting)
- Responsible for rate making, forms management, insurance compliance, reinsurance, fronting relationship management, and reserving
- Develops rate and rule manuals and underwriting guidelines for all products
- Leads underwriting in developing customized approaches to challenging risks
- Performs underwriting duties as department is developed delegating appropriately as staff grows. Holds underwriting authority as assigned by CEO
Financial Results
- Responsible for achievement of underwriting performance objectives.
- Reviews and analyzes financial reports.
- Identifies financial goals and meets with direct reports to evaluate progress against those goals/budget and identifies strategies to address any problems being encountered.
- Works with CFO and CEO to establish annual operating budget
- Reports underwriting results to management and department and assure alignment and corrective action when necessary
- Along with other leaders, assures achievement of company business goals and objectives
Professional/Personal Qualifications
- The CUO reports to the Chief Executive Officer.
- The position directly supervises the underwriting performance of the organization and the underwriting staff.
Professional/Personal Qualifications
- 10 years minimum experience in underwriting and underwriting management with background in commercial multi-peril.
- Food and Beverage (including Alcohol), Health Supplements, Commercial Horticulture, Transportation, Security and Workers Compensation.
- Excess and surplus lines experience all preferred
- Strong leader, collaborative, team oriented, excellent communicator and innovative
- Knowledge of commercial insurance including product development.
- Knowledge of reinsurance and captive insurance.
- Knowledge of the cannabis industry is preferred
- Must operate with a high level of integrity, be openminded, persistent and compassionate.
- Highly intelligent, goal oriented, innovative, entrepreneurial
- Able to travel extensively
Education
- BA or BS
- MBA or Master’s in Finance preferred
The Organization
Rydel Insurance Services, a company committed to becoming the leading insurer of businesses within the cannabis industry. By working in concert with cannabis business owners and industry experts, Rydel is creating a company offering policies and risk management programs specifically created to meet the needs of those in the cannabis industry.
Job Type: Full-time
Experience: