AVP - Financial Institutions

AVP, Financial Institutions, Financial Lines - New York, NY

Chubb is seeking a Financial Institutions Team Leader for our New York City office. The ideal candidate will have extensive underwriting experience of financial lines products for companies of all sizes as well as previous leadership responsibilities. This position is salary grade flexible based on the successful candidates experience.  

Key Accountability: Responsible for profitable growth of a large, complex book of financial institution businesses. The position will oversee a team of underwriters and will be charged with employee development, overseeing high level broker/agent relations, and collaborating with key Chubb retail branches for purposes of business and market development.  

Production and Underwriting Execution

• Maintain and expand producer relationships.
• Coordinate with regions to ensure consistent and adequate flow of submission activity in order to meet plan, including accurate forecasting of regional and home office production.
• Develop new business production with Brokers and Agents based on growth over prior targets.
• Actively and effectively cross-sell high margin products
• Meet Divisional GWP/NWP Plan.
• Identify key renewals & new line targets on a quarterly basis and ensuring retention/acquisition strategies are developed and implemented for each account

Staff Management and Development

• Manage and lead a team of Underwriters
• Continually assess staff skill set and identify specific training needs for each staff. Develop and implement an appropriate training plan to address both immediate and long term needs.
• Review accounts with team members to assess risk on each account and develop pricing and term recommendations to senior management
• Identify issues affecting the team and ways to improve our processes and procedures to be a more efficient and effective group
• Ensure staff attend and actively participate in all scheduled training sessions.
• Ensure that each underwriter is properly prepared for all client meetings 

Underwriting Quality and Analysis

• Ensure team adherence to underwriting practices, authorities and corporate guidelines including but not limited to: compliance with standards for quote and binder letters, claims/litigation review, manuscript endorsements, and file documentation and construction.   
• Ensure satisfactory results are achieved on all audits (individual and team). 80% or better of all self audits must be satisfactory, 100% of team audits must be satisfactory.
• Accurately identify and analyze exposures for each risk. Demonstrate a thorough review has been completed and ensure appropriate terms, conditions and a strategy has been developed for securing each risk prior to reviewing with senior management. This includes ensuring that each underwriter is properly prepared when meeting with senior management.

Technical Learning and Development

• Demonstrate thorough proficiency in policy forms, underwriting practices and key coverage issues. 
• Demonstrate an understanding of the factors (economic, political and financial) affecting the industries and market segments targeted.
• Demonstrate a knowledge of the Chubb network and constituencies that must be accessed to ensure efficient production and execution.
• Attend all relevant training sessions and calls as well as reading all relevant periodicals to stay on top of all current topics
• Identify areas for personal growth and development and identify relevant training classes

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.

• Advanced knowledge of underwriting concepts, practices, and procedures
• Strong oral and written communication skills
• Negotiation & marketing skills
• 7-10 years of high-level financial lines underwriting experience, preferably within financial institutions
• Previous experience in training and development of staff
• Previous management and/ or leadership experience
• Complex business underwriting experience, preferably within the financial institution industry
• College Degree 

The pay range for the role is $160,000 to $200,000. The specific offer will depend on an applicants skills and other factors. This role may also be eligible to participate in a discretionary annual incentive program.  Chubb offers a comprehensive benefits package, more details on which can be found on our careers website.  The disclosed pay range estimate may be adjusted for the applicable geographic differential for the location in which the position is filled.