VP, Delegated Authority

Are you looking for your next opportunity? 

 

Sompo has a unique opportunity for a Vice President, Delegated Authority Business role for our North America Property & Casualty team in our Chief Strategy Office organization. 

 

In this newly established position, your primary responsibility will be to develop a strong and scalable underwriting and operational framework. You will be instrumental in the establishment and execution of our new delegated authority center of excellence, focusing on creating underwriting and non-underwriting services throughout the entire delegated authority life cycle.

 

Location: This position can be based out of the following Sompo office locations.

• Alpharetta, GA
• Boston, MA
• Charlotte, NC
• Chicago, IL
• Dallas, TX
• Morristown, NJ
• Mount Juliet, TN
• New York City, NY
• Purchase, NY
  
  

We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers.  

Our business, your impact, our opportunity: 

What You’ll Be Doing

• Collaborating with the Chief Strategy Officer to facilitate the efficient onboarding and management of all MGA/delegated agreements and underwriting contracts, while ensuring comprehensive operational due diligence is conducted
• Collaborate with the various Product and Underwriting areas within North America that are marketing and underwriting the initial MGA opportunities
• Provide review and guidance in conjunction with Underwriting, Operations, Claims, Finance, Actuarial, and Compliance teams
• Oversee and uphold delegated data standards, managing EPI, and being responsible for handling all regulatory and internal delegated authority audits
• Comprehensive management of the business, encompassing due diligence, onboarding activities, underwriting referrals, pricing analysis, underwriting audits, data feed review, and relationship management with Program Administrators/MGAs
• Recommend actions for portfolio steering, innovate in product and process, and implement strategies for enhancing profitability
• Tasked with overseeing the data generated by various MGAs (bordereaux) and ensuring its compatibility with Sompo systems
• Knowledge of Underwriting principles, industry standards, and market development
• Collaborate with management to establish and achieve budgeted premium targets
• Coordinate with the Claims Department regarding any specific loss activity on individual accounts that might impact profitability
• Assure Program Administrator/MGA is compliant with all underwriting and administrative guidelines
• Keep up-to-date with significant industry issues and developments
• Proactively foster an inclusive environment that encourages employee participation, teamwork, and open communication to develop a highly engaged workforce
• Review delegated authority accounts and renewals to ensure they align to our business plans and appetite
• Conduct Underwriting and Operational due diligence
• Oversee deal structuring and ensure adherence to delegated authority data standards and compliance
• Manage post-bind delegated authority servicing by executing EPI management, handling mid-term adjustments (MTA), and preparing renewal packs along with any necessary renewal revisions
• Accountable for monitoring and reporting on delegated authority, including overseeing binder underwriting performance and tracking operational performance
• Conduct delegated authority audit oversight by performing underwriting and delegated claims audits, tracking recommended actions, and escalating issues as necessary
  
  

Leadership Skills

• Strategic mindset with the ability to manage vision and purpose
• Expertise in change management
• Excellent influencing and communication skills
• Strong problem-solving and conflict resolution abilities
• Strategic orientation, managing vision and purpose
  
  

What You’ll Bring

• Minimum 10 years of experience in Underwriting and or with MGA – Delegated business
• Expert knowledge in Delegated Authority (DA) underwriting, and the relevant regulatory environments
• Strong critical thinking skills with the ability to underwrite, market products, identify financial challenges, and analyze available information to make decisions in alignment with our risk appetite
• Ability to execute strategic direction across Delegated Authority in partnership with leadership
• Ability to build, set strategy, lead, and execute a new business unit
• Excellent communication skills with the ability to effectively negotiate in challenging situations with stakeholders and brokers
• Experience coaching and mentoring team members
• Ability to work with individuals from diverse backgrounds and view those differences as valuable assets for achieving business goals and objectives
• Advanced knowledge of organizational requirements and relevant regulatory requirements, policies, and procedures
• Ability to work independently and collaboratively in a team-oriented environment
• Strong organizational and time management skills with the ability to meet tight deadlines
  
  

Salary Range: $140k-$250k Actual compensation for this role will depend on several factors, including the cost of living associated with your work location, qualifications, skills, competencies, and relevant experience. 

 

At Sompo, we recognize that our employees' talent, skills, and commitment drive our success. This is why we offer eligible employees competitive, high-quality compensation and benefit programs. 

 

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance, with final awards based on individual performance.  

 

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs: 

 

• Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution 
• Pharmacy benefits with mail order options 
• Dental benefits including orthodontia benefits for adults and children 
• Vision benefits 
• Health Care & Dependent Care Flexible Spending Accounts 
• Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children 
• Company-paid Disability benefits with very competitive salary continuation payments 
• 401(k) Retirement Savings Plan with competitive employer contributions 
• Competitive paid-time-off programs, including company-paid holidays 
• Competitive Parental Leave Benefits & Adoption Assistance program 
• Employee Assistance Program 
• Tax-Free Commuter Benefit 
• Tuition Reimbursement & Professional Qualification benefits 
  
  

In today’s world, what do we stand for? 

Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success and that when relationships are held in the highest regard, nothing can be accomplished. At Sompo, our ring is more than a logo; it is a symbol of our promise. Click here to learn more about life at Sompo. 

 

Sompo is an equal-opportunity employer, and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions—we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.