Specialist, Program Underwriting - Alternative Ventures

If you’re passionate about helping people protect what matters most to them, as well as innovating and simplifying processes and operations to provide the best customer value, then Nationwide’s Property and Casualty team could be the place for you! At Nationwide®, “on your side” goes beyond just words. Our customers are at the center of everything we do and we’re looking for associates who are passionate about delivering extraordinary care.

Compensation grade FSD110.

Job Description Summary

Are you a problem solver who can analyze complex risk and find insurance solutions that balance customer needs with business goals? If you can take initiative, use both your analytical and creative abilities to make sound decisions and have a desire to help people solve real challenges, we want to know more about you!

As a Specialist, you will partner with various program managers on specific account referrals, providing them with business resources and operational support. You'll review and analyze numerous, highly complex lines of business. You'll evaluate market trends and assist in identifying new business opportunities. You'll collaborate between business partners for development and implementation of program specific tools (i. e. underwriting guidelines, forms/rate filings, etc. ) for new programs or modifications to existing programs. In order to be successful, you will need to build and maintain effective relationships with internal business liaisons, external program managers, and brokers. You'll be responsible for the training and mentoring of underwriting team members.

Job Description

Key Responsibilities:  

• Drives the sales and underwriting relationship for Programs products and services. Responsible for reviewing complex (e.g. including shared and layered property, general liability, excess, auto, recreation marine, energy, environmental, inland marine, warranty and workers compensation) and other underwriting referrals that exceed program administrator’s authority level.  Some of the risks could be multinational or have alternative arrangements in place that make them unique. Analyzes program referrals to ensure appropriate pricing, coverage, and terms and conditions being offered are within underwriting guidelines. Authority to approve account specific referrals.

• Conducts research, development and presentation of new programs, forms and manuals. Reviews and analyzes new program business submissions; presents underwriting workup/evaluations to management for approval to senior management. Provides recommendations to management regarding new business submissions for approval.

• Corresponds with program managers on regular basis to gauge respective market trends and profitability and to foster good working relationships. Provides updates to underwriting guidelines as necessary. Recommends underwriting guideline modifications to management.

• Assists with reinsurance placement, per department guidelines based upon the appropriate use of all reinsurance facilities used by the department, including various treaty, semiautomatic and facultative reinsurance. Gathers data needed for reinsurance submissions and reinsurers presentations. Maintains good working relationship with reinsurers.

• Provides program research and development, form development, rate development, specials projects, technical assistance to brokers, as well as underwriting assistants, and other underwriters.

• Participates in bi-annual underwriting audits for each program to ensure that guidelines are being properly adhered to. Provides summation/analysis of audit results.

• Establishes and maintains effective relationships with brokers, program managers, managing general agents in order to generate premium dollars and profitably. Attends meetings with and travels to program administrator offices for marketing visits. Entertains brokers, program managers and potential new partners to ensure strong relationships to write business.

• Participates in the integration of new and existing programs. Collaborates with business liaisons to develop program specific tools (i.e. underwriting guidelines, forms/rate filings, etc.). Ensures that appropriate business partners are informed and provide support for program integration.

• Attends industry functions to promote the capabilities of the FS Programs team in order to generate premium dollars and profitably. Assists in helping to identifying new program business opportunities.

• Provides various monthly data reports to FS Programs staff.

• Acts as a resource for training and guidance for less experienced staff. May be responsible for underwriting and support staff.

May perform other responsibilities as assigned.

Reporting Relationships:  Reports to Director/AVP.

Typical Skills and Experiences:  

Education: Undergraduate studies with focus in Finance, Accounting Economics, and/or Risk Management. Degree preferred.

Experience: Typically three or more years related experience as a Professional, Financial and/or Specialty lines underwriter. Some experience in the technical aspects of data management helpful.

Knowledge, Abilities and Skills: Demonstrated knowledge of Professional, Financial, and/or Specialty lines underwriting policies, practices and procedures, insurance law and underwriting marketing principles and techniques. Working knowledge of financial documents, financial analysis, investments, and market conditions. Understanding of legal concepts related to insurance, contract and business law preferred. Ability to communicate complex underwriting concepts required. Effective verbal and written communication skills with a variety of individuals at various levels, both internally and externally. Demonstrates negotiation skills and ability to persuade. Ability to understand and foster positive business relationships between FS and program administrators, and determines acceptability of referred business relative to guidelines. Good understanding of financial concepts. Ability to analyze insurance risks to determine acceptability. Ability to devise, implement, and monitor business solutions to complex problems. Ability to make decisions without supervision. Ability to support numerous parties at one time. Ability to set work priorities in all aspects of data management, imaging and procedures and processes helpful. Ability to make decisions that reflect the goals of the company, both financially and ethically.

Other criteria, including leadership skills, competencies and experiences may take precedence. 

Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.

Values: Regularly and consistently demonstrates Nationwide Values.

Job Conditions:

Overtime Eligibility: Not Eligible (Exempt)

Working Conditions: Normal office environment. Ability to travel locally and overnight for client meetings as needed.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

We currently anticipate accepting applications until 04/09/2025. However, we encourage early submissions, as the posting may close sooner if a strong candidate slate is identified before the deadline.

Benefits

We have an array of benefits to fit your needs, including: medical/dental/vision, life insurance, short and long term disability coverage, paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date, nine paid holidays, 8 hours of Lifetime paid time off, 8 hours of Unity Day paid time off, 401(k) with company match, company-paid pension plan, business casual attire, and more. To learn more about the benefits we offer, click here.

Nationwide is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive culture where everyone feels challenged, appreciated, respected and engaged. Nationwide prohibits discrimination and harassment and affords equal employment opportunities to employees and applicants without regard to any characteristic (or classification) protected by applicable law.

This position could be filled within any of the lower 48 U.S. states.

Smoke-Free Iowa Statement: Nationwide Mutual Insurance Company, its affiliates and subsidiaries comply with the Iowa Smokefree Air Act. Smoking is prohibited in all enclosed areas on or around company premises as well as company issued vehicles. The company offers designated smoking areas in which smoking is permitted at each individual location. The Act prohibits retaliation for reporting complaints or violations. For more information on the Iowa Smokefree Air Act, individuals may contact the Smokefree Air Act Helpline at 888-944-2247.

For NY residents please review the following state law information: Notice of Employee Rights, Protections, and Obligations LS740 (ny.gov) https://dol.ny.gov/system/files/documents/2022/02/ls740_1.pdf

Nationwide pays on a geographic-specific salary structure and placement within the actual starting salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity and location of the role as well as the cost of labor in the market; and other conditions of employment. If a Sales job, Sales Incentives, based on performance goals are possible in addition to this range.

The national salary range for Specialist, Program Underwriting - Alternative Ventures : $79,000.00-$163,500.00

The expected starting salary range for Specialist, Program Underwriting - Alternative Ventures : $88,000.00 - $132,000.00