Vp Operations Jobs in Springfield, MA (NOW HIRING)

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Job Summary

The Assistant Vice President within Arch Construction is responsible for the technical underwriting and account management of large account construction casualty programs.

Responsibilities

Technical Underwriting

• Solicits and reviews new and renewal account information required to evaluate a risk.
• Identifies all potential exposures and hazards in relation to coverage requested and individual risk characteristics.
• Assesses insurance and related financial risk and structures appropriate loss sensitive program to effectively protect against frequency, severity, catastrophic and credit risk
• Engage other internal resources as necessary
• Underwrites prices and prepares proposals based on objective and subject risk characteristics, input of internal resource team, existing product set and regulatory filings.
• Prepares final quotation/proposal and presents to producer and/or prospective insured.
• Coordinates all administrative duties related to existing and prospective accounts.

Account Management

• Quarterbacks all post bind activities including policy production, compliance issues, audits and adjustments, legal agreements, receipt of collateral, legal agreement execution, TPA coordination and any other related items.
• Together with internal team members, takes responsibility to deliver promised service to customers.
• Responsible for the renewal and retention management and manages the renewal process to achieve targeted retention and price change goals.
• Initiates, coordinates and conducts a mid term account review.

Sales and Marketing

• Develops and maintains relationships with producers and insured's to achieve overall productions and profitability goals.
• Meets with producers and insured's to discuss individual account issues, uncover critical customer needs and financial buying characteristics; frequent travel throughout the Region with an estimated overnight travel schedule of 20% per month.
• Develops a strategic plan for positioning and selling Arch at both the producer and the insured level.
• Engages and introduces other team members or management team as appropriate.
• Develops and maintains relationships with producers to generate a flow of qualified submissions.

Administrative

• Responsible for all underwriting and policy file documentation
• Completes ad hoc projects as assigned by management personnel

Skills & Experience

• Understanding and knowledge of the intent, scope and purpose of the Workers Compensation, General Liability, Automobile coverage forms and endorsements with the ability to tailor to the sold program design.
• Possess a thorough understanding of all loss sensitive programs including products, pricing, expensing, actuarial loss projecting techniques, retention and aggregate setting, limit profiles, ALAE, and effective utilization of facultative reinsurance.
• Understanding and knowledge of exposure identification and analysis
• Possess a cross functional generalist knowledge of other disciplines including claims, risk control, audit, premium accounting, finance and legal.
• Knowledge of regulatory and compliance issues
• Knowledge of Arch's product set
• Excellent communication skills - written, verbal and presentation
• Sales and Negotiation skills
• Be able to provide leadership and support to other team members
• Ability to perform multiple tasks simultaneously
• Have the ability to influence without authority and be willing to work in a collaborative and team environment.
• Highly proficient in Microsoft Excel, Work, Outlook, and PowerPoint

Required Experience

• Seven plus years of underwriting experience and/or seven plus years experience in the construction industry and/or insurance industry.
• Established broker relationships within the Region would be ideal.

Educational Requirements

• Bachelor's degree or equivalent training required.
• CPCU or other similar designation a plus.

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For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.

For New York, JC, Boston: $144,100 - $223,693/year
For Philadelphia, Hartford: $133,300 - 206,958/year

• Total individual compensation (base salary, short & long-term incentives) offered will take into account a number of factors including but not limited to geographic location, scope & responsibilities of the role, qualifications, talent availability & specialization as well as business needs. The above pay range may be modified in the future.

• Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more. Click here to learn more on available benefits.

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