Head Of Fraud Risk Jobs in Chicago, IL (NOW HIRING)

The Role

The US Head of Programs is a senior portfolio management position responsible for the growth, profitability and ongoing stewardship of our network of Managing General Agent (MGA) partnerships in the US. The ideal candidate will not only possess deep specialty Property & Casualty expertise across multiple lines, but they will be adept at working cross-functionally in an organization to manage the operational, actuarial and contractual requirements of a Program. As the Head of Programs, you'll lead the Canopius Program team and manage the profitable growth of our US P&C portfolio written via MGA partnerships. While business development will play a key part of this role, the ideal candidate will distinguish themselves as an individual that can apply underwriting expertise to craft a Programs strategy which fits within Canopius's overarching product strategies and is complementary to our Open Market offerings, and they will be known as a proven coach and leader.  

Responsibilities

Underwriting & Program Strategy:   

• Devise and execute a cohesive long-term strategy for the US Programs business within the Canopius USA and Global Product frameworks.

• Annually create the US Programs Business plan for CUO and Product Leadership approval.

• Implement and proactively manage the underwriting activities and operational metrics/KPIs to ensure financial targets are met and performance against the business plan is achieved.

• Develop the appropriate underwriting parameters and guidelines for our MGA partners and ensure strict adherence via regular partner meetings, oversight by audit and referral and by swiftly and proactively working to remediate issues as they arise. 

• Developing a culture of underwriting excellence within the team by growing the product knowledge, underwriting capability and overall business acumen of your team. 

• Create sound underwriting decisions in context of our evolving market, legal landscape, and broader macroeconomic environment.

• Meet routinely with MGA and distribution partners to gather market intelligence and insights into developing market trends and product developments, which can be fed back to your team as well as US Underwriting leadership colleagues.

• Maintaining a strict culture of compliance by effectively delegating and managing underwriting authority, appropriate file documentation, and ensuring the division complies with necessary internal frameworks and guidelines, e.g. outwards RI purchasing, risk appetite, etc. 

Operational and Cross-Functional 

• Manage the full life-cycle of the launch of a Program, from the first meeting to the signed contract, by working closely and collaboratively with colleagues across Underwriting, Operations, Legal, Claims, Compliance and Actuarial. 

• Effectively communicate and relay needs and timescales both to internal colleagues as well as brokers and MGAs. 

• Utilize Power BI to monitor Program performance, and where necessary make suggestions to Operations for what can be improvised

• Have a strong working knowledge of bordereaux and data feeds and work effectively with colleagues across Operations, Finance and Exposure Management to meet our reporting, monitoring and exposure management needs

• A strong working knowledge of actuarial requirements and data needs, and working to the required timescales to ensure the proper pricing reviews of our Programs

• Participating on US Underwriting Leadership calls 

Leadership

• Coach and manage team's efforts to develop and manage MGA relationships 

• Manage marketing, travel, and entertainment budget of programs team

Marketing

• Develop and manage marketing plan for segment, act as lead liaison to market

• Solicit and qualify new program opportunities against long-term strategy and Canopius capabilities

• Maintain industry visibility to ensure line of sight into competitors, talent, and developments in market

• Speak at conferences and thought leadership

Skills and Experience

• 10+ years production underwriting experience with a proven track record in the 

  delegated authority program segment

• Strong leadership skills, with the ability to train, mentor, and oversee underwriting team

• Understanding of US legal environment and insurance regulatory requirements

• Sound knowledge of the US insurance market, trends, and emerging issues

• The ability to independently prioritise tasks and meet tight deadlines

• Familiarity with financial statements and management reporting systems 

• Strong analytical skills, enabling insight through data and regular reporting of operations, book performance, and leading indicators

• Strong communication skills, oral and written

• Willingness to travel as necessary

Salary: $200,000 - 232,800

Our benefits
We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non-contributory 401k, discretionary bonus, insurances including medical, dental and vision cover, and many other benefits to enhance financial, physical, social and psychological health.
About Canopius
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd's of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.  
At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.
Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.  
We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate.  We encourage and welcome applicants from all diverse backgrounds.
We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.

• 10+ years production underwriting experience with a proven track record in the 

  delegated authority program segment

• Strong leadership skills, with the ability to train, mentor, and oversee underwriting team

• Understanding of US legal environment and insurance regulatory requirements

• Sound knowledge of the US insurance market, trends, and emerging issues

• The ability to independently prioritise tasks and meet tight deadlines

• Familiarity with financial statements and management reporting systems 

• Strong analytical skills, enabling insight through data and regular reporting of operations, book performance, and leading indicators

• Strong communication skills, oral and written

• Willingness to travel as necessary

Salary: $200,000 - 232,800

Underwriting & Program Strategy:   

• Devise and execute a cohesive long-term strategy for the US Programs business within the Canopius USA and Global Product frameworks.

• Annually create the US Programs Business plan for CUO and Product Leadership approval.

• Implement and proactively manage the underwriting activities and operational metrics/KPIs to ensure financial targets are met and performance against the business plan is achieved.

• Develop the appropriate underwriting parameters and guidelines for our MGA partners and ensure strict adherence via regular partner meetings, oversight by audit and referral and by swiftly and proactively working to remediate issues as they arise. 

• Developing a culture of underwriting excellence within the team by growing the product knowledge, underwriting capability and overall business acumen of your team. 

• Create sound underwriting decisions in context of our evolving market, legal landscape, and broader macroeconomic environment.

• Meet routinely with MGA and distribution partners to gather market intelligence and insights into developing market trends and product developments, which can be fed back to your team as well as US Underwriting leadership colleagues.

• Maintaining a strict culture of compliance by effectively delegating and managing underwriting authority, appropriate file documentation, and ensuring the division complies with necessary internal frameworks and guidelines, e.g. outwards RI purchasing, risk appetite, etc. 

Operational and Cross-Functional 

• Manage the full life-cycle of the launch of a Program, from the first meeting to the signed contract, by working closely and collaboratively with colleagues across Underwriting, Operations, Legal, Claims, Compliance and Actuarial. 

• Effectively communicate and relay needs and timescales both to internal colleagues as well as brokers and MGAs. 

• Utilize Power BI to monitor Program performance, and where necessary make suggestions to Operations for what can be improvised

• Have a strong working knowledge of bordereaux and data feeds and work effectively with colleagues across Operations, Finance and Exposure Management to meet our reporting, monitoring and exposure management needs

• A strong working knowledge of actuarial requirements and data needs, and working to the required timescales to ensure the proper pricing reviews of our Programs

• Participating on US Underwriting Leadership calls 

Leadership

• Coach and manage team's efforts to develop and manage MGA relationships 

• Manage marketing, travel, and entertainment budget of programs team

Marketing   

• Develop and manage marketing plan for segment, act as lead liaison to market

• Solicit and qualify new program opportunities against long-term strategy and Canopius capabilities

• Maintain industry visibility to ensure line of sight into competitors, talent, and developments in market

• Speak at conferences and thought leadership