Vice President, Financial Institutions

Job Description

Production Underwriters are responsible for cultivating and maintaining relationships with brokers partners and insured. The VPs are responsible for underwriting a complex book of business, employing the methods necessary to meet projected profitability, gross written premium, and expense goals, management and growth of the overall portfolio of business, implementing proper underwriting discipline/guidelines, marketing and servicing of existing and potential clients. VPs are team or subproduct leads and typically report into BU Head.

Responsibilities

P&L accountability for premium, profitability, growth, and retention results.  Overseeing the underwriting quality standards of employees. Includes ensuring appropriate file documentation is being maintained relating to final underwriting decision. Partners with teams to develop a plan for managing and prospecting business written Manages execution of underwriting strategies and holds self accountable for implementation. Underwrite and analyze product risks; offer appropriate underwriting solutions for clients while meeting profitability targets. Develops and executes effective strategies to generate profitable business growth. Collaborates with region, peers, and BU management on new business and retention opportunities. Supports and collaborates on sales and marketing initiatives, assisting with new product launches and local marketing campaigns.  Collaborates to educate brokers on products, services, as well as underwriting strategies and product marketing. Ownership of broker relationships including delivering high level. Leads and/or participates in business development and planning. Develops and executes an effective agency strategy to grow the business. Gathers pertinent competitive information to assist in product development recommendations.

Critical Competencies

Leadership: Effective engagement and motivation of underwriters to achieve organizational objectives aligned with the regional vision and values Underwriting Acumen: Demonstrates deep technical knowledge of BU products, competitors and marketplace. Exhibits rigor and expertise in underwriting large, complex financial institution risks. Relationship Management: Demonstrated ability to build strong key account relationships and manage customer expectations in changing market conditions. Proven track record promoting business retention and profitable growth. In-depth knowledge of BU products and marketplace. Demonstrated ability to market and sell WSP’s differentiated; value added coverage and service advantages. Proven prospecting skills and effective use of sales and marketing tools.  Collaboration: Ability to work collaboratively with multiple business units, stakeholders. Demonstrates effective consultation and partnership skills. Communications: Demonstrated ability to manage communications and awareness effectively between various parties of interest, including brokers/agents, Branches, Product Managers and BU Senior Management. 

Qualifications

Minimum of 10 years of high-level Underwriting experience, minimum of 7 years experience within product area Bachelors Degree required, strong preference for degree with a field related major/concentration Proven track record of training and development of staff Excellent organizational and communication skills, and ability to multi-task Ability to work independently in a fast-paced, high pressure environment Willingness to travel Must be able to think originally, be willing to challenge ideas and be receptive to having their own ideas challenged

Equal Opportunity Employer

Westfield celebrates diversity and is committed to inclusion. All qualified applicants receive consideration for employment without regard to race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, or status as a protected veteran.