Chief Underwriting Officer at Ford Global Career Site

Dearborn, Michigan, United States -

Full Time

Start Date

Immediate

Expiry Date

23 Jan, 26

Salary

0.0

Posted On

25 Oct, 25

Experience

10 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Underwriting, Risk Management, Team Leadership, Analytical Skills, Commercial Auto Insurance, Portfolio Optimization, Technical Expertise, Regulatory Compliance, Data Analytics, Problem-Solving, Audit Management, Product Development, Customer Service, Mentoring, Collaboration, Strategic Planning

Industry

Motor Vehicle Manufacturing

Description

Manage Ford Pro Insure's overall commercial auto underwriting function including production, guidelines, reinsurance utilization, loss results, referrals, and renewals Set, manage and achieve underwriting targets to ensure profitable growth; establish and monitor relevant KPI's including submission rate, quote ratio, bind ratio, etc. Manage a team of underwriters including effective delegation of underwriting authority (balancing speed to market against effective risk controls), mentoring/coaching, and providing vision and growth opportunities Manage strategic distribution partners (e.g., wholesalers, brokers, MGA, etc.) including monitoring of profitable production targets, go-to-market strategies (in conjunction with the sales teams) and issues resolution Collaborate with actuarial teams to validate pricing assumptions and ensure alignment with underwriting guidelines Work closely with both internal and external customers to ensure the highest underwriting standards Champion and represent the underwriting function while effectively interacting with other internal stakeholders/function Strive to exceed Ford's customer service expectations throughout the buying/servicing/renewal process Portfolio Optimization & Technical Underwriting: Provide deep technical expertise and guidance for all business unit product capabilities serve as a trusted advisor Oversee the management and refinement of all Underwriting Guidelines in collaboration with ecosystem partners capabilities Drive thoughtful cycle management across the portfolio leveraging analytics and functional support resources to capitalize on high margin opportunities, reposition or exit unprofitable market segments and grow/maintain margins for the balance of the book Proactively monitor key underwriting and claims metrics to identity emerging risks and opportunities Collaborate with underwriting leaders, business performance management, actuarial and modeling teams to develop and implement technical pricing and other analytic capabilities to drive price adequacy and profitability Implement, assess and refine pricing strategies; including risk tiering, segmentation and other methods to optimize portfolio in collaboration with actuarial Act as underwriting referral point for complex risks and risks that exceed authority levels Proactively drive underwriting actions and initiatives to improve overall profitability of the portfolio Implement adoption of advanced tools and supplemental data sets to enhance and augment underwriting New Product Development: Ensure that proper Underwriting strategies align with appetite, and target portfolio metrics Oversee coordination and evaluation of new product, program and geographic expansion opportunities Underwriting Governance and Controls: Develop effective processes, policies, procedures, and controls to ensure effective and quality underwriting Increase the use of underwriting automation with the necessary controls to enable the business to scale Ensure regulatory compliance and the underwriting function adapts to any regulatory change, strategic decisions, or adoption of best practices Manage internal and external audit procedures UW Audit Process: Manage overall underwriting audit framework in collaboration with compliance Lead and manage the quality/content of Underwriting audit findings and the audit process. Use the audit process to build & strengthen underwriter skill sets, improve strategies and update guidelines over time Manage audit recommendations generated by audit findings to conclusion and create a team process to do so. Implement and monitor supplementary underwriter self-audit quality control processes Risk Management: Manage portfolio Gross/Net premium and CAT accumulations Monitor and manage portfolio within established tolerances, thresholds and target metrics Support Treaty insurance reviews and placements in coordination with the Ceded Reinsurance team Monitor and manage Risk Management and capital adequacy framework in partnership with Finance and Actuarial Teams; ensure appropriate reinsurance strategies are leveraged based on portfolio and individual account characteristics, maturity of products and underwriting experience and performance targets Ford Pro Insure representative on Underwriter Committees, North American Statutory Boards, and Corporate Enterprise Risk Management process requirements as necessary Authority Management & Governance: Responsible for delegation of underwriting authority and attestations of underwriting team; maintain and improve an appropriate referral and delegation process based upon experience and skill sets, and partner Establish a process that confers underwriting authority after completion and review of on boarding process and provide updates as needed. Monitor authority levels each year and work to modify as needed over time Minimum of 15 years of insurance product and underwriting experience, including a minimum of 5 years of commercial auto insurance experience (while not required, experience with multi-line insurance product and underwriting is a plus) At least five years of experience leading and developing a team, allocating resources efficiently, and setting realistic timelines Experience building and/or leading business units with a track record of growth and profitability Continuing progress toward or completion of a professional designation (e.g., CPCU, ARM) preferred Thorough understanding of state regulations governing commercial auto policy issuance and use, including policy forms and coverage Strong problem-solving analytical and technical skills to assess risk Proficient in underwriting and data software/analysis tools Broad knowledge of P&C and Financial Lines underwriting Ability to operate in a dynamic and high paced environment with a sense of urgency Adaptable and able to manage competing priorities Growth mindset, desire to both learn and teach Ability to drive data analytics and make appropriate correlations on results Ability to manage multiple projects and timelines across a variety of stakeholders to meet target deliverable deadlines Ability to concisely provide executive summaries to senior management as needed Experience in corporate governance and controls management including exposure to a wide variety of systems Wide variety of assignments in operational workflow reviews and systems a plus Experience in corporate governance controls and supporting infrastructure Well, organized with relentless attention to detail Self-motivated Ability to work both independently and collaboratively in a team environment Action oriented and strong work ethic What you'll receive in return... As part of the Ford family, you'll enjoy excellent compensation, and a comprehensive benefits package that includes generous PTO, retirement, savings and stock investment plans, incentive compensation, and much more. You'll also experience exciting opportunities for professional and personal growth and recognition. Collaborate with Talent development on training and development opportunities to enhance modern underwriter skillsets Manage training needs based upon audit feedback, referral reviews and new product needs Build out Ford Pro Insure's commercial auto product function to meet customer needs Develop differentiated programs for focused market segments as part of an overall “program business” strategy Build tools, processes, and documentation to ensure repeatable and compliant product development and implementations Manage, mentor and develop a team of product managers, ensuring defined to attract and retain talent Support Ford Pro Insure's national footprint and expansion strategies, specifically from a product and underwriting perspective Ensure compliant state product filing activities by preparing necessary documentation and ensuring compliance with regulatory requirements Participate in the review and approval process for state filings, ensuring timely submissions and adherence to regulatory timelines Collaborate with cross-functional teams to gather and document business requirements and processes for new products and enhancements to existing offerings Ensure that all business requirements are clearly communicated to relevant teams, including IT, Finance, Claims and Operations for effective implementation Established and active employee resource groups

Responsibilities

Manage the overall commercial auto underwriting function and achieve underwriting targets for profitable growth. Collaborate with various teams to ensure high underwriting standards and optimize the portfolio.