Assistant Vice President, Financial Institutions

Job Description

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Job Summary

Ascot’s Financial Institutional Unit is seeking a motivated seasoned underwriter to assist in growing a diverse suite of Financial Institutions driven products. The associate will be responsible for the profitability, growth and retention of an assigned book of business, within the assigned territory. Primary responsibilities will include underwriting new and renewal business, building and maintaining strong relationships with internal and external stakeholders.

As a member of the team, you will work with wholesale and retail business partners to find insurance solutions for risks. You will work in a team environment, demonstrate a strong customer focus that will expand Ascot’s brand and specifically the management and professional liability appetite and strategy. You will need strong decision-making skills, be detailed oriented, and able to build & sustain relationships that deliver results. This position reports to the Senior Vice President, Financial Institutions.

Responibilities

• Develop, maintain, and improve upon underwriting guidelines, rating and authorities for financial institutions insurance products.
• Manage the underwriting production, integrity, profitability of a range of financial institutions insurance products.
• Work closely with Claims Operation to ensure that the products are performing as designed and suggest appropriate remediation action, if required.
• Develop and Maintain broker and client relationships throughout the United States.
• Interact with support teams such as the actuarial, compliance, and legal departments for all products to ensure the business is operating in accordance with all corporate guidelines and procedures.
  
  

Experience And Skills Required

• 3-10 years relevant work experience in financial institutions management and professional liability
• Solid understanding of insurance exposures for asset managers, banks, insurance companies, specialty lenders, and REITs. Product development experience is a plus.
• Bachelor's degree of higher. STEM or finance background is a plus.
• Willingness to travel up to 30% of work time.
• Ability to work independently with minimal supervision
• Detail oriented with excellent communication skills, both written and verbal
• Strong collaborative skills and ability to thrive in a fast-paced, entrepreneurial environment.
• Strong critical thinking skills.
• Excellent organizational, desk management and prioritization skills with the ability to work independently and as part of a team.
• Must be positive, self-motivated, and possess strong interpersonal, communication and presentation skills.
• Possess strong technical, analytical, and quantitative skills.
• Excellent oral and written communication skills, ability to successfully negotiate in difficult situations with agents and brokers.
• Solution oriented team player with a strong relationship management skill set working with both internal and external stakeholders and customers.
• Proficient in Microsoft Office.
• RPLU, CPCU or other relevant professional designation preferred, but not required.
• Travel up to 15%
• This position may be filled at a different level, depending on experience***
  
  

Compensation

Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot’s total compensation package for employees. Other rewards may include annual cash bonus, and other forms of discretionary compensation awarded by the Company. The salary for this position in California is $155,000 to $185,000.

Company Benefits

The Company provides a competitive benefits package that includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)

Retirement Benefits: Contributory Savings Plan (401k)