Team Leader, Corporate Underwriting Property and Casualty

The Economical Insurance Group - Waterloo, ON (30+ days ago)

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Team Leader, Corporate Underwriting Property and Casualty

WHY ECONOMICAL?

Because a changing industry calls for a new way of doing things. An ambitious, innovative and fast-paced company, we offer exceptional training and development programs, competitive pay, great benefits, company-matched RRSPs, and paid volunteer days — all within an engaging, fun, and collaborative work environment.

Founded more than 145 years ago, Economical is one of Canada’s leading property and casualty insurance companies. We rely on our national network of more than 800 independent brokers to sell a range of car, home, business, and farm insurance solutions. With Sonnet and Petline, we’re extending our reach through the direct-to-customer channel. With more than 2,400 active employees across the country and a commitment to rethinking the insurance experience, we’re poised for great things.

We’re now adding to our high-performance team to take us into the future. Let’s rethink insurance, together.

Work is generally conducted at the Head Office in Waterloo, although there may be an occasional requirement to work at branch locations or in the field at other locations on special assignment. Some overnight travel may also be required.

In this role, you will:
  • Be accountable for the leadership of the Quality Review and Compliance requirements within the Corporate Underwriting department, including implementation and oversight of underwriting governance, adherence to guidelines, authorities and commercial insurance strategy.
  • Be responsible for executing an effective underwriting quality review program that will continuously assess and report on underwriting practices, quality of performance and adherence to regulatory compliance.
  • Create reports that identify observed trends and key performance metrics and evaluate the initiatives taken by regional and segment leaders to strengthen practices specific to managing risks within their lines of business.
  • Perform ongoing technical policy reviews across portfolios to evaluate the soundness of underwriting judgment.
Your Responsibilities:
  • Act as the key contact for Underwriting Quality Review and Compliance for Corporate Underwriting for other departments and provide direction and support to the regions and/or divisions on compliance and regulatory matters.
  • Elevate quality and compliance matters to the Manager, Corporate Underwriting, as necessary.
  • Participates in strategic workforce management function including effective budget resource planning, retention management, succession planning, recruiting as well as leading and coaching staff
Underwriting Quality Review:

Design, implement and maintain quality underwriting review protocol that includes the following functions:
  • Assess underwriting quality and communicate any repetitive issues or trends that are considered relevant to the appropriate stakeholder and present findings to Manager of Corporate Underwriting and senior commercial leadership.
  • Document review results in a pre‐developed, standardized template.
  • Perform post review analysis to identify and document the root cause of findings, and develop impactful action items.
  • Determine risk score for each LOB, based on pre‐defined business rules considering portfolio quality book indicators (QBIs), previous LOB assessment results, and the strategic importance of the LOB.
  • Assess compliance and challenge the soundness of policies/guidelines of LOB assessments.
  • Assess criteria used to perform assessments and support questions to ensure the relevancy of the reviews performed.
  • Identify associated root causes of findings, develop and provide recommendations to stakeholders.
  • Analyze LOB trends / emerging risks, and perform reviews using a risk‐based methodology.
  • Discuss processes with LOB leaders and the business, as needed, to determine relevant risks.
  • Escalate risk findings to the UQR functional lead.
  • Prepare and communicate to relevant LOB leads a plan specific to each LOB Assessment, which includes timing of review and the scope of the assessment.
Underwriting Compliance:

Oversee the execution and continuous improvement of a comprehensive regulatory compliance management framework in conjunction with the Managers of Corporate Underwriting Property & Casualty, to ensure reporting on risks that are outside of corporate underwriting governance, including the following functions:
  • Coach the Regional and Segment leaders and teams to work in conjunction with regulatory and company risk appetite, authority and guideline governance.
  • Identify and report to ERM any underwriting risks outside of corporate compliance and governance.
  • Support compliance incident assessment, reporting and remediation.
  • Develop recommendations for underwriting leakage and continuous quality improvement.
  • Report to various internal stakeholders as required:Legal, ERM, MRC.
Staff Development:
  • Maintain effective ongoing development plans for all direct reporting staff, as documented by quarterly and annual performance appraisal, and also implement development plans for the department as a whole that support underwriting quality and portfolio growth.
  • Help build and maintain a culture of high performance and sustained profitable growth by promoting and supporting an environment that encourages productivity, collaboration, teamwork, and a high level of professionalism.
  • People Management & Development including:
    • Ensuring team is staffed with appropriate skills and a capacity to deliver on mandates
    • Demonstrate strong leadership competencies
    • Supports and is an advocate for change
Your Skills and Experience
  • University Degree or College diploma in a relevant discipline.
  • CIP and/or FCIP designations are advantageous, but not mandatory.
  • Strong organizational skills; excellent problem-solving skills; able to gather information, analyze critically and cut through complexity to arrive at workable solutions and the ability to influence and effectively negotiate with internal and external stakeholders.
  • General understanding of business operations and of the related legislative, regulatory and internal policy and procedure requirements associated with them.
  • Excellent written and verbal communication skills.
At Economical, we all work together to come up with big ideas — then bring them to life. We focus on our customers first, we bring our best, and we’re stronger together. If you’ve got the passion and the desire to help us reinvent insurance, let’s talk.

HOW TO APPLY

Create a general profile here. To complete the online application process, you’ll need to upload your resume before you apply for the role you’re interested in. Please note that only one document can be uploaded, so be sure to combine your resume and cover letter.

We are committed to providing an inclusive work environment that welcomes diversity and supports accessibility across the organization. If you require accommodation at any time during the recruitment process, please let us know by contacting: hrsharedservices@economical.com.

Visit economical.com to learn more about us and what we’re up to.

Economical Insurance includes the following companies: Economical Mutual Insurance Company, The Missisquoi Insurance Company, Perth Insurance Company, Waterloo Insurance Company, Family Insurance Solutions Inc., Sonnet Insurance Company, Petline Insurance Company.