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Director, Product Management & Underwriting - WC in Lansing, MI at AF Group

Date Posted: 1/11/2019

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Lansing, MI
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:
    1/11/2019

Job Description



SUMMARY:

This position will provide leadership in building and maintaining a culture of workers' compensation underwriting excellence along with leading product and market development strategies. The Director will provide technical direction to each operating unit's underwriting department by providing clear guidelines on operating unit risk appetite, establishing quality standards, controls and audit capabilities. In addition, the Director will assist in developing and monitoring metrics in new and existing markets. The position is responsible for leading a small team of technical professional(s) engaged in research, analysis and auditing within the underwriting discipline. The Director is responsible for product development and project leadership for workers' compensation products including guaranteed costs, large deductible and retrospectively-rated policies. Product development includes building the product offering, filing, establishing underwriting guidelines, building training materials and giving the training sessions. Project leadership includes team assembly, creating objectives, coaching and mentoring the team to a successful resolution in a timely manner.



RESPONSIBILITIES/TASKS:

  • Leads the development and implementation of complex product strategies for the Workers Compensation line of business.
  • Determines and prioritizes the core functions and features of existing and new products.
  • Develops and introduces strategies to improve retention and profitability.
  • Works in collaboration with cross functional teams to identify technology needs in support of short and long-term company product strategies.
  • Responsible for researching and addressing internal and external emerging trends in support of business cases for opportunities to improve workflow, mitigate risks, and improve customer satisfaction with the product management process.
  • Leads ongoing monitoring of key metrics and programs to drive performance and owns key process including systems prioritization and planning for the Workers Compensation line of business.
  • Maintain risk appetite throughout the enterprise.
  • Work with each operating unit to ensure their risk appetite is appropriate based on their skills and consistent with the holding company appetite.
  • Create a process to share and implement best practices throughout the enterprise.
  • Implement underwriting standards and monitor results via establishing a quality assurance function at the holding company level.
  • Assess new underwriting and market opportunities.
  • Evaluate rate reviews.
  • Develops solutions that balance rate need and market conditions in order to support the Company's targets for profitable growth and retention.
  • Obtain target combined ratio each operating unit.
  • Ensure the achievement of continued profitability, growth and/or operational efficiencies through assessment of risk tolerance, market appetite and emerging risk issues.
  • Monitor the usage and profitability of alternative pricing programs.
  • Drive adherence to underwriting authority delegation, audit criteria and catastrophe management.
  • Collaborate with Risk Management, Actuarial, Claims, Compliance and the Operating Units to address governance and compliance issues related to underwriting practices.
  • Provide guidance and direction in the development of underwriting and training tools.
  • Develop underwriting strategies and position papers for emerging issues when needed.
  • Identify and track leading indicators of external conditions.
  • Design and execute analysis covering industry conditions and insights from operating units.
  • Identify changes in industry conditions and recommend specific actions to key stakeholders.
  • Help identify risks with current strategies or markets.
  • Contribute to corporate profitability goals through review of product results by operating unit. Communicate findings, concerns and trends, as needed, with operating unit's management. Monitor implementation plans and results. Review product and pricing tier usage, communicate findings, concerns and trends, as needed with operating unit management discussing possible solutions and monitoring outcome.
  • Provide technical advice, counsel and assistance in the development and utilization of the policy issuance system(s) involving rating, policy issuance, statistical reporting, claims handling, receivables, WCPOLS and proof of coverage.
  • Coach and provide technical advice and counsel within and outside operating unit.
  • Support predictive modeling enhancements.
  • Manage aspects of the employment lifecycle for assigned Line of Business team including development, etc

DIRECTION EXERCISED:

Directly supervises exempt and non-exempt staff in accordance with company policies and applicable federal and state laws. Responsibilities include but are not limited to effectively interviewing, hiring, terminating and training employees; planning, assigning and directing work; appraising performance; rewarding and counseling employees; addressing complaints and resolving problems; supporting and encouraging the engagement process.

This position description identifies the responsibilities and tasks typically associated with the performance of the position. Other relevant essential functions may be required.

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