Job Description
Job Duties and Responsibilities:
Product & Profitability Performance Analysis:
• Establishes key elements of the tactical and operational RMO product performance plans and initiatives.
• Utilizes advanced insurance product & services industry knowledge, experience and skill set to execute a product performance evaluation process on more complex cases when an unprofitable loss ratio trend is detected.
• Product performance – drawing on subject matter expertise and advanced Allied risk management operational knowledge, evaluates the appropriate course of action for policy changes, tracking system changes, risk management operations issues and claims processing issues. Recommends and directs corrective performance changes.
• Ability to work with underwriting staff to critically evaluate options and alternative solutions to problems that are difficult and complex in scope requiring a broader understanding of the full range of issues impacting product performance. Coordinates these efforts with department leadership but leads implementing corrective actions.
• Data Mining, Collection & Preparation – Leverages advanced product and operations knowledge to collect data from various internal sources including databases, spreadsheets, other relevant platforms, and external industry data sources. Research and identify potential causes of premium, revenue, claims, and expense trending.
• Data Analysis, Interpretation and Predictive projections - Analyze difficult and complex data sets using advanced statistical model techniques and data analysis methods. Ability to identify complicated trends and patterns within the data and create predictive projections to drive improved results and product profitability.
• Leads strategic initiatives involving the implementation of product and service performance improvements that drive operational efficiency, minimize cost, reduce claims, and maximize revenue production. Issue identification and resolution draws from extensive product knowledge and understanding of other RMO teams.
• Proactively manage and lead the product performance profitability process and regional profitability with the field leadership and RMO leadership.
• Implement product level corrective or positive measures that deliver operational results having a direct and immediate impact to product profitability.
• Evaluation of issues that are difficult and complex and implementing improvements to processes, systems or products that enhance innovation and performance of the CPFM team, risk management products & services and business practices.
Pricing & Underwriting:
• Follow established underwriting guidelines and CPFM department processes to independently analyze and document financial performance for new and renewal business for larger and more complex lenders with significant revenue and profitability implications in support of the company’s underwriting objectives.
• Exercise critical thinking and independent judgment to assess all risks within defined procedures and guidelines to determine appropriate underwriting or pricing action steps. These guidelines are typically based on client level analytical & trend data, industry trends, regulatory requirements, and the company's risk appetite.
• Independent and critical evaluation of options and alternative solutions to problems that are difficult and complex in scope requiring a broader understanding of the full range of issues impacting product performance. Coordinates these efforts with department leadership but can implement corrective actions.
• Participation in activities is needed to promote profitable growth of the company.
• Determine when the risk requires escalation to the Manager.
• Evaluate and make recommendations to CPFM department leadership, within SLA standards which determine whether to accept, modify, or decline new or renewal business which deliver positive impact toward achieving profitability metrics and targets.
• Analyze coverage and insurance limit requests and recommend offer terms and product structure.
• Advanced subject matter expertise and product knowledge directs the decision process of when the product pricing or risk requires escalation to the CPFM department leadership.
• Proactively identifies Unitrac insurance tacking system and iVos claims system errors or setup issues and communicates these to the appropriate RMO resources. Organizational impact: errors and system setup issues result in added costs, operational inefficiencies, Client dissatisfaction leading to product cancellation and potential regulatory compliance issues. This damages Allied’s brand and negatively impacts the company’s profitability.
Communication, Collaboration, Influence and assigned tasks:
• Support execution of Company Key Plan & Strategy Initiatives and CPFM department goals.
• Communicate and collaborate extensively within CPFM, frequently with other RMO teams and externally with Allied Solutions carriers, partners or clients.
• Has the product and service subject matter expertise and ability to work collaboratively within Allied and with our business partners to positively influence positive outcomes relative to practices, policies, and procedures.
• Coordinate and collaborate, as the key leadership liaison, with internal Allied departments to drive product profitability, product development and product changes.
• Periodic review of assigned tasks which is reviewed with CPFM department management to measure progress and completion of goals and objectives.
• Explains and effectively communicates policies, practices, and procedures of the underwriting team within CPFM, RMO, Allied’s carrier and business partners. Ability to influence others outside of CPFM on policies, practices, and procedures.
• Takes on a lead role in RMO work groups and committees providing Subject Matter Expertise to facilitate operational efficiencies and profitable growth of the company.
• Facilitates the documentation and organization of production underwriting documents on Allied’s shared drives.
• Train and mentor Production Underwriting staff.
• Coordinate and provide input on goals with department leadership.
• Ability to self-direct workload and resources needed to complete them. Progress and completion of tasks is achieved by effectively utilizing resources and knowledge to meet schedules and objectives.
• Ability to navigate the complexity of Allied’s operations and culture while problem solving.
• Monitor and follow up on outstanding customer relations management (CRM) service tickets as assigned.
Leadership Responsibilities:
• Serve as the lead Production Underwriter responsible for underwriting processes and procedures specific to Allied’s risk management products.
• Responsible for the execution of improvements made to processes, systems or products enhancing of RMO products and the CPFM team.
• Collaborates with the Director of CPFM to drive improved policy, process, and strategy implementation.
• Leads and develops the evaluation and enhancement CPI, LPI and VSI master policy endorsements and carrier filings in order to maintain Allied’s competitive advantage and to maximize risk management opportunities in a highly competitive market.
Maintain understanding of third-party insurance carrier requirements and CFPB, NCUA, & State Regulations:
• Maintain accurate records of underwriting decisions, correspondence, and other relevant documentation in accordance with regulatory requirements and company policies.
• Directly participates and influences a culture of ongoing learning and continuous improvement.
• Maintain an understanding of CFPB, NCUA & State Regulations. This includes:
•Expert level ability to assess and apply appropriate schedule rating factors.
• Has an extensive working knowledge of State regulated specific insurance forms.
• Proactively updates underwriting guidelines, process documentation and identifies Unitrac
insurance tacking system and iVos claims system errors or setup issues.
• Maintain required continued professional education certification
Qualifications (Education, Experience, Certifications & KSA):
Bachelor’s degree required in the field of study: Accounting, Finance, Risk Management or Business.
8-10 years of work-related experience required.
- Property and Casualty License Required
- Requires broad knowledge of the technical and operational practices within the insurance underwriting field.
- Computer Skills - Requires above average proficiency in the use of computer (Word Excel, PowerPoint, and Power BI) for compiling reports, statistical data, composing memoranda and other similar documents.
- Previous experience leading people or a team is preferred.
The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, skills, efforts or working conditions associated with a job.
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We offer our employees a robust compensation package! Our comprehensive benefits include: medical, dental and vision insurance coverage; 100% company-paid life and disability coverage, 401k options with company match, three weeks PTO by the end of the first year and much more. Allied proudly promotes from within as part of a strong commitment to providing career growth opportunities for employees of all levels. Our diverse business portfolio allows employees broad career options with the advantage of staying with the same organization.
All qualified candidates will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, or any other characteristic protected by law.
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