Reinsurance Underwriting Director

Position Summary

This role will oversee the day-to-day operations and the team of underwriters working on reinsurance agreements, overseeing the analysis of risk factors, pricing transactions, and ensuring profitability targets are met. The Director has the authority to assign work as necessary across programs or within the scope of our vendor agreements to meet the quality and established SLA's of the program assignments.

What will your job entail?

Job Responsibilities:
• Develop and implement the reinsurance underwriting process for new and renewal accounts, oversee the team of reinsurance underwriters, develops portfolio strategy, and meets profitability targets.
• Makes complex underwriting decisions, determines coverage terms and pricing, monitors the reinsurance portfolio, and ensures a diversified risk profile aligned with organizational objectives.
• Work closely with claims, product, actuarial, and customer service to ensure profitability and an overall excellent experience for customers.
• Develop and manages expenses and drives prudent budget.
• Develops and implements a disciplined reinsurance underwriting approach, adhering to standards and best practices and ensures program results are profitable for the company and the carriers.
• Fosters innovation in reinsurance underwriting practices, oversees the implementation of new methodologies, technologies, and approaches to enhance competitiveness and efficiency.
• Oversees strategic negotiations with major ceding companies and industry partners, fostering long-term strategic relationships.
• Leads crisis management efforts related to significant reinsurance events, developing, and implementing strategic risk mitigation plans to safeguard the organization's financial stability.
• Presents strategic reports on reinsurance activities, performance metrics, and market trends to the board of directors and executive leadership, offering insights and strategic recommendations.
• Develops and Oversee training programs for the reinsurance underwriting team, ensuring continuous learning and skill development.
• Developing reports to track and monitor workflow so staffing needs can be accurately identified.
• Developing staff in terms of cross-training and leadership potential
• Responding to any escalated calls and/or e-mails
• Supervisory responsibilities include training; planning, assigning, and directing work; evaluating performance, rewarding, and disciplining employees; addressing complaints and resolving problems.
• Hire and lead our growing Reinsurance staff who will drive underwriting excellence for years to come.
• Advocate compliance with insurance laws, rules, and regulations.
Work Experience and Education:
• Bachelor’s degree required, Master’s degree preferred; Statistics, Economics and Risk Management preferred. Any other related discipline or commensurate work experience considered.
• 12-15+ years of experience in Reinsurance Underwriting with a minimum of 5 years of management experience.

Licenses and Certifications:
• State P&C and/or surplus line licenses is required.
• Associate in Reinsurance (ARE), or Associate in Risk Management (ARM) is a plus.
Skills:
Technical/Functional Skills:
• Knowledge of Ceded Reinsurance
• Knowledge Of State Specific Underwriting Statues
• Reinsurance Treaty Placement
• Knowledge of Underwriting Systems and Tools
• Insurance Policy Review
• KPI Tracking
• Training and Development
• Property and Casualty Underwriting
• Risk Management
• Technical Documentation

Behavioral Skills:
• Business Relationship Management
• Decision Making
• Effective Communication
• Problem Solving
• Negotiation
• Team Management

#OLR

Ryan Specialty is an Equal Opportunity Employer. We are committed to building and sustaining a diverse workforce throughout the organization. Our vision is an inclusive and equitable workplace where all employees are valued for and evaluated on their performance and contributions. Differences in race, creed, color, religious beliefs, physical or mental capabilities, gender identity or expression, sexual orientation, and many other characteristics bring together varied perspectives and add value to the service we provide our clients, trading partners, and communities. This policy extends to all aspects of our employment practices, including but not limited to, recruiting, hiring, discipline, firing, promoting, transferring, compensation, benefits, training, leaves of absence, and other terms, conditions, and benefits of employment.

How We Support Our Teammates

Ryan Specialty seeks to offer our employees a comprehensive and best-in-class benefits package that helps them — and their family members — achieve their physical, financial, and emotional well-being goals. In addition to paid time off for company holidays, vacation, sick and personal days, Ryan offers paid parental leave, mental health services and more.

The target salary range for this position is $260,000,000.00 - $325,000,000.00 annually.

The wage range for this role considers many factors, such as training, transferable skills, work experience, licensure and certification, business needs, and market demands. The pay range is subject to change and may be modified in the future. Full-time roles are eligible for bonuses and benefits. For additional information on Ryan Specialty Total Rewards, visit our website https://benefits.ryansg.com/.

We provide individuals with disabilities reasonable accommodations to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment in accordance with applicable law. Please contact us to request an accommodation at HR@Ryansg.com

The above is intended to describe this job's general requirements. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.