Chief Underwriter

Why USAA?At USAA, we have an important mission: facilitating the financial security of millions of U.S. military members and their families. Not all of our employees served in our nation’s military, but we all share in the mission to give back to those who did. We’re working as one to build a great experience and make a real impact for our members.
We believe in our core values of honesty, integrity, loyalty and service. They’re what guides everything we do – from how we treat our members to how we treat each other. Come be a part of what makes us so special!The Opportunity

The Chief Underwriter is responsible for all the Underwriting organization  for the Property and Casualty (P&C) group at USAA.  The role leads and directs the overall underwriting strategy, operations, and policy development across USAA Personal Lines organization. Directs implementation of the Underwriting processes for P&C and oversees Personal Lines Auto, Property and Specialty products as well as all Underwriting Operations.  Accountable for all underwriting decisions in support of P&C goals and strategies. Manages efforts between staff and operations of policy and performance and execution of support units, and directs all underwriters in their role of analyzing, assessing, and mitigating risks for the organization. Additionally, monitors the adequacy of workflow of the underwriting team to ensure the goals of the business unit are met and are compliant with company policy and regulations.  Focuses on the Future of Underwriting strategy, which will include optimizing underwriting’s ways of working, delivering exceptional member experiences, profitable growth, building guidelines and business rules. Provides oversight of the underwriting community of practice across underwriting roles as well has having responsibility for programs and regulatory work on behalf of Personal Lines to includes regulatory management, market conduct exams and underwriting execution and support.

• Sets Underwriting execution strategy and direction that leads to achieving goals in alignment with all applicable laws, regulations, practices, and standards.

• Accountable to the Personal Lines Senior Leader for all development, execution, and implementation of underwriting capabilities

• Monitor and evaluate P&C underwriting profitability; drives strategy and business objectives for USAA’s underwriting group in alignment with the P&C business goals.

• Leads design and execution of USAA’s underwriting strategy, considering USAA’s P&C strategy and complex regulations and supervisory expectations, including how they apply in a matrixed commercial environment.

• Drives operations of the underwriting team – including core business processes and technologies. Holds self and others accountable for meeting commitments by setting and clearly communicating expectations and roles and responsibilities relative to underwriting.

• Researches competitors and market best practices and conditions to development and maintain risk management.

• Oversees a diverse team engaged in the underwriting, structuring, and closing of P&C related transactions at USAA.

• Applies subject-matter-expert functional knowledge in underwriting to lead subordinate teams in producing work deliverables in support of departmental and Enterprise initiatives.

• Partners with the business leadership to drive the P&C business model, establish goals, evaluate market opportunities, and contribute to the organization’s profitability.

• Builds and maintains strong portfolio quality by assisting in both underwriting initiatives and development of product modifications and strategies.

• Accountable for overseeing the development of functional policies, procedures and guidelines and operating within established policies and guidelines, and acting in accordance with applicable laws, regulations, and supervisory guidance, including those related to consumer protection, including ensuring policy exceptions are promptly and effectively assessed and escalated.

• Fosters an environment that provides a balance between sound, consistent underwriting, and quality standards with the need for profitability, growth, and customer retention.

• Ensures identification, assessment, measurement, monitoring, and controlling of material risks consistent with the risk appetite and risk tolerance, including the development, adherence, monitoring, reporting on risk limits and risk limit utilization in the underwriting department.

• Forecasts and identifies emerging problems within the P&C business portfolio. Partners with lines of business to advise them of identified and emerging risks in specific P&C products; identifies potential structural enhancements to reduce P&C’s risk exposure.

• Accountable for developing, maintaining, testing, and monitoring an internal control environment in the underwriting department, including information systems and preventative and detective controls, to effectively manage material risks.

• Identifies opportunities and facilitates transformative improvements to operating models and systems.

• Promotes appropriate application of all P&C line of business policies and procedures; supports and drives adherence to regulatory compliance requirements.

• Builds, develops, and leads a team of individual contributors and managers through ongoing execution of recruiting, development, retention, coaching and support, performance management, and managerial activities.

• Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.

What you have:

• Bachelor’s degree; OR 4 years of related experience (in addition to the minimum years of experience required) may be substituted in lieu of degree.

• 10 years of progressive P&C insurance experience in underwriting, product lines, or pricing to include developing and executing underwriting strategy and direction.

• 8 years of people leadership experience in building, managing and/or developing high-performing teams.

• Executive-level business acumen in the areas of underwriting policy, innovation, and insurance industry practices, emerging trends, major issues, and regulatory considerations.

• Extensive experience developing and implementing underwriting, product and/or operations and/or policy rules, guidelines and strategies for new and existing programs and products.

• Demonstrated experience identifying, recommending, and implementing tactical and strategic underwriting action plans.

• Experience applying proactive measures to refine underwriting product and/or operations and/or policy rules and guidelines, including utilizing analytics and metrics to develop insights.

• Extensive experience designing and owning personal lines roadmap, strategy, and definition.

What sets you apart:

• US military experience through military service or a military spouse/domestic partner

• Personal Lines Property and Casualty insurance experience.

• Demonstrated experience managing and influencing senior leadership teams in a matrixed environment.

• Demonstrated accomplishments leading innovation initiatives from strategy to execution.

• Subject matter expertise in Product, Underwriting, and Pricing and enabling new technologies.

• Member service-oriented leader.

What we offer:Compensation:

USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market position. The salary range for this position is: $249,000.00-448,200.00.

Employees may be eligible for pay incentives based on overall corporate and individual performance or at the discretion of the USAA Board of Directors.

Long Term Incentive Plan: Cash payment for Executive level roles only, representing a cash payment which is both time and performance based.

Benefits:

At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.

For more details on our outstanding benefits, please visit our benefits page on USAAjobs.com.

Applications for this position are accepted on an ongoing basis, this posting will remain open until the position is filled. Thus, interested candidates are encouraged to apply the same day they view this posting.

 

USAA is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.