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Preferred Risk Insurance Jobs in Utah (NOW HIRING)

HUB

Employee Benefits Team Leader

Sandy, UT · On-site

When you join HUB, you become part of a vast network of risk, insurance, employee benefits ... High school diploma required; college degree preferred * Strong written and oral communication ...

Ccfs

Risk Claims Manager

Salt Lake City, UT · Remote

$85/hr

This role will oversee insurance claims for physical property damage, auto vehicle damage, and ... Microsoft Windows, Word, and Excel preferred. Knowledge of statistical process control desirable.

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Preferred Risk Insurance information

What are the key skills and qualifications needed to thrive as a Preferred Risk Insurance Underwriter, and why are they important?

To thrive as a Preferred Risk Insurance Underwriter, you need a solid understanding of risk assessment, insurance policies, and underwriting principles, typically supported by a bachelor's degree in finance, business, or a related field. Familiarity with underwriting software, industry databases, and insurance regulations is crucial, and professional certifications like CPCU or AU are often preferred. Strong analytical thinking, attention to detail, and effective communication are vital soft skills for evaluating applications and collaborating with agents or clients. These skills ensure accurate risk evaluation, profitable decision-making, and regulatory compliance within the insurance industry.

What are some common challenges faced by professionals working in Preferred Risk Insurance, and how can they effectively address them?

Professionals in Preferred Risk Insurance often face the challenge of accurately assessing and underwriting applicants who fall within favorable risk categories, while ensuring compliance with regulatory standards. Balancing competitive pricing with profitability is another key challenge, as is staying updated on evolving risk factors and industry trends. To address these issues, it's important to maintain strong analytical skills, foster clear communication with underwriting and sales teams, and regularly participate in training sessions or industry seminars. Collaboration with actuaries and claims specialists is also essential to ensure consistent risk evaluation and policy management.

What is Preferred Risk Insurance?

Preferred Risk Insurance refers to insurance policies offered to individuals or businesses that are considered low risk by insurance companies. These policyholders typically have a favorable claims history, good credit, and other positive risk factors, which can result in lower premiums and better coverage options. Preferred risk categories exist in various types of insurance, including auto, home, and life insurance, and are used by insurers to reward responsible customers. Being classified as a preferred risk can help you save money and access more comprehensive insurance products.

What is the difference between Preferred Risk Insurance vs Commercial Insurance Agent?

AspectPreferred Risk InsuranceCommercial Insurance Agent
CredentialsLicenses required, often with specific state certificationsSame licenses, may require additional certifications for commercial policies
Work EnvironmentPrimarily office-based, handling personal insurance policiesOffice and client meetings, handling business and commercial policies
Industry UsageUsed by insurance companies to classify low-risk clientsUsed by agents to sell various insurance products, including commercial policies

Preferred Risk Insurance typically refers to clients or policies with lower risk profiles, often handled by agents specializing in personal insurance. Commercial Insurance Agents focus on selling policies for businesses, which usually involve higher risks. While both roles require licensing and industry knowledge, Preferred Risk Insurance emphasizes low-risk personal policies, whereas Commercial Insurance Agents deal with business-related coverage.

What are popular job titles related to Preferred Risk Insurance jobs in Utah? For Preferred Risk Insurance jobs in Utah, the most frequently searched job titles are:
What job categories do people searching Preferred Risk Insurance jobs in Utah look for? The top searched job categories for Preferred Risk Insurance jobs in Utah are:
What cities in Utah are hiring for Preferred Risk Insurance jobs? Cities in Utah with the most Preferred Risk Insurance job openings:
Preferred Risk Insurance jobs near you
Risk, Credit Risk (Financial Institutions), Vice President, Salt Lake City or Dallas

Risk, Credit Risk (Financial Institutions), Vice President, Salt Lake City or Dallas

Goldman Sachs, Inc.

Salt Lake City, UT • On-site

Full-time

Posted 22 days ago

Goldman Sachs rating

8.3

Company rating: 8.3 out of 10

Based on 25 frontline employees who took The Breakroom Quiz

29th of 141 rated banks

Job description


Location: Salt Lake City or Dallas
Department Overview
Credit Risk (CR) is responsible for managing the firm's credit exposure to its trading and lending counterparties. Leveraging its extensive expertise in financial, credit and risk analysis, CR ensures that credit exposure to our counterparts is managed within the firm's risk appetite. Staffed with more than 270 professionals, CR operates through 12 different offices around the world and credit professionals work closely with many areas of the firm. Given this structure, CR professionals gain diverse financial experience and a broad perspective on how the entire firm functions. The interaction with numerous departments and the range of projects that ensue allow for a challenging, varied and multi-dimensional work environment.
Job Responsibilities
  • Assess the credit and financial strength of the firm's Financial Institution counterparts by performing fundamental credit analysis of both quantitative and qualitative credit factors
  • Determine and manage the firm's credit risk appetite across derivatives, loans, funding and deposits for a portfolio of Financial Institution counterparts
  • Approve derivative and funding transactions while ensuring appropriate documentation and risk mitigants to protect against default and minimize potential losses
  • Perform credit underwriting of lending transactions, contributing credit recommendations and support to the firm's capital committee approval process
  • Recommend and defend internal and regulatory risk ratings for counterparts/transactions as required
  • Oversee and approve or perform counterparty research reviews and analysis of Financial Institution counterparts
  • Present findings and recommendations to senior management and answer questions relating to analysis performed
  • Proactively monitor and assess counterparts and industry subsectors including based on market indicators, regulatory guidance, rating agency commentary and counterparty surveillance and report relevant information and its impact to senior management in a timely manner

Basic Qualifications
  • Minimum of 5 years of experience covering Financial Institutions, either in a counterparty credit risk management role (preferred), fixed income research or other credit analyst role
  • In depth knowledge of banks, CCPs, broker-dealers, finance companies, BDCs, CDFIs, mortgage companies, insurers
  • Knowledge of derivatives, funding, and lending products and related trading and lending documentation (i.e., ISDA/CSA, MRA, MSFTA, credit agreements)
  • Familiarity with regulatory risk rating requirements and application of such guidance
  • Experience leading due diligence discussions with company senior management teams
  • Demonstrable track record of independent decision making and the ability to steer client and business negotiations to successful outcomes
  • Strong written and oral communication and presentational skills
  • Experience in presenting and defending credit work and findings to credit colleagues, senior management and other internal stakeholders
  • Must be able to lead and motivate an engaged and diverse team of credit professionals, providing guidance to and supervision of junior team members
  • Strong organizational skills and the ability to manage multiple assignments concurrently
  • Bachelor's degree in Business Administration, Finance, or a related field

Competencies
  • Functional Expertise and Technical Skills - Demonstrates deep knowledge of financial markets, risk analysis and current risk management practices as well as strong technical skills required for the role. Values attention to details, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
  • Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients, helps the client to identify/define needs and manages client/business expectations
  • Teamwork - Gives evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
  • Communication Skills - Communicates in a clear and concise manner, shares information/new ideas with peer group and team, while demonstrating judgment to escalate as appropriate
  • Judgment and Problem Solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyzes complex issues
  • Creativity and Influence- Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value. Takes a position on issues and influences others' opinions by presenting persuasive recommendations

ABOUT GOLDMAN SACHS
At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.
We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.
We're committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html
© The Goldman Sachs Group, Inc., 2023. All rights reserved.
Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, veterans status, disability, or any other characteristic protected by applicable law.

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About Goldman Sachs

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At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world. We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs.

Industry

Finance and insurance

Company size

10,000+ Employees

Headquarters location

New York, NY, US

Year founded

1869

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