Director, Credit & Political Risk - E&S/Specialty

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.

Key Responsibilities

• Underwrite, negotiate and document multi-year, domestic and cross-border credit and political risk opportunities
• Perform economic, market and country risk analyses
• Develop and expand key broker and client relationships
• Work within a team to ensure operating excellence through the adherence to C&PR underwriting guidelines as well as Nationwide’s standards

Professional Background

• At least 10 years of credit and political risk underwriting experience gained working at a top-tier bank, credit and political risk insurance carrier or similar
• Expertise in corporate, bank and sovereign credit risk analysis. Formal credit training is a plus.
• Expertise in country risk analysis
• Experience in negotiating bespoke nonpayment and PRI insurance wordings
• A background in credit and political risk modeling is preferred

Preferred work location is New York metro. Also open to candidates in Washington DC metro, Miami, and Chicago.

Compensation Grade: H.SD170

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Job Description Summary

Are you a critical thinker 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!

The primary role of the position is to leads an underwriting team that includes field underwriters that own the sales and underwriting relationships for the Credit and Political Risk line of business. Establishes and maintains business relationships with agencies and/or brokers for the purpose of sales growth and distribution expansion. Primary focus of this role is on underwriting, agency / customer relationship management, employee engagement and expense management for a territory. Independently underwrites accounts based on authority level granted to the role and underwriting appetite. This includes underwriting obligor balance sheets, income statements and cash flows, obligor credit ratings, management reputation and company business and trading histories.

Job Description

Key Responsibilities:   

• Analyzes performance of portfolio as well as individual account performance and develops appropriate action to drive profitable growth based upon the analysis. Monitors risk selection, renewal retention and pricing decisions on a portfolio and an individual account level.

• Reviews and approves underwriting decisions of staff and ensures compliance to legal requirements and organizational, business and strategic objectives. Provides recommendations to leadership regarding underwriting strategy and opportunity. Measures and manages underwriting processing and quality. Actively manages and participates in agency management. May review complex or escalated business and make underwriting decisions based on the underwriting authority granted to the role, using company underwriting guidelines and standards.

• Determines priorities and workflow/service standards for the department. Monitors and manages performance measurements to ensure effectiveness of the department's service delivery process. Effectively aligns organizational structure to drive business results.

• Plans, develops and integrates territory sales plans to achieve top and bottom-line objectives. Translates strategic business plans into organizational direction. Creates financial and operational goals, budget and timelines to meet company standards. Directs associates and provides performance management, salary planning and administration, organizational planning, hiring and placement.

• Drives sales strategies to develop new business, improve retention and maintain profitability. Meets regularly with clients to enhance relationships and drive business results. Handles escalated customer service issues and requests.  

• Provides input to leadership regarding strategic and business plans and helps identify operational opportunities and efficiency. Consults with agents and brokers to provide expertise, educate and identify business opportunities. Consults with team to develop experience, understanding and expertise in each situation to make the best possible decisions. Consults with Home Office leaders on accounts requiring higher level of authority.

• Communicates strategic direction and operational plans to internal associates and external partners. Communicates policies, procedures and financial budgets that result in attainment of business objectives. Ensures awareness of strategic corporate initiatives to maintain effectiveness in the field.  

• Ensure operational excellence through the timely issuance of non-binding indications and policy wordings as well as good coordination with the back office for policy servicing, including billing and accurate data input.   

• Works in partnership with fellow leaders to manage the training of associates within the credit and political risk organization to ensure a high degree of competency and professionalism. Coaches territory managers and field underwriters on actively pursuing credit and political risk opportunities with agencies and/or brokers to develop and grow a profitable territory.

May perform other responsibilities as assigned.   

Reporting Relationships: VP, Credit and Political Risk - E&S/Specialty

Typical Skills and Experiences:   

Education: Bachelor degree required; MBA or Master degree in finance, international affairs or business administration a plus

Experience:   

• At least 10 years of experience in trade credit underwriting

• 5-10 developing rating and pricing models as well as system solutions that deliver excellent customer service  

Knowledge, Abilities and Skills:   

• Financial statement analysis, Credit underwriting, Country analysis, IT development, scoring and rating models ;

• Demonstrated expert in the field   

• Excellent relationships with the US broker community and corporate and bank clients   

• Good communication and interpersonal skills  

• Prior underwriting credit authority     

• Formal credit training a plus  

• Excellent knowledge of IT solutions

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 Human Resource Business Partner.

Values: Regularly and consistently demonstrates Nationwide Values.

Job Conditions:   

Overtime Eligibility: Not Eligible

Working Conditions: Normal office environment; hybrid working

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.  

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.

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 Director, Credit and Political Risk - E&S/Specialty - 112129 : $126,000.00-$242,000.00

The expected starting salary range for Director, Credit and Political Risk - E&S/Specialty - 112129 : $136,000.00 - $204,000.00

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