What are the responsibilities and job description for the Facultative Underwriter position at Global Accounting Network?
We are seeking a detail-oriented and analytical Facultative Underwriter to evaluate and underwrite individual reinsurance risks on a case-by-case basis. The ideal candidate will work closely with brokers, cedents, and internal teams to assess facultative submissions, determine risk appetite, and craft tailored solutions that align with underwriting guidelines and profitability goals.
The position is hybrid 2-3 days/week in Manhattan, NY (full relocation package available)
Key Responsibilities:
- Analyze facultative reinsurance submissions to determine the acceptability, pricing, and terms of coverage.
- Collaborate with brokers and ceding companies to understand risk details, exposures, and coverage requirements.
- Negotiate terms and conditions of facultative placements in accordance with company guidelines and risk appetite.
- Conduct risk assessments using actuarial models, loss history, and industry data.
- Prepare and present underwriting recommendations to internal stakeholders.
- Maintain detailed documentation of underwriting decisions and communicate clearly with internal and external partners.
- Stay informed of industry trends, regulatory changes, and emerging risks.
- Support the development of underwriting guidelines, tools, and best practices.
Qualifications:
- Bachelor’s degree in Risk Management, Insurance, Business, Finance, or a related field (CPCU or ARe designation preferred).
- 3 years of experience in underwriting or reinsurance, with a focus on facultative risk preferred.
- Strong understanding of reinsurance structures, facultative placement processes, and insurance policy wording.
- Excellent analytical, negotiation, and communication skills.
- Ability to work independently and make sound underwriting decisions under tight deadlines.
- Proficient in Microsoft Office and underwriting platforms/tools.
Preferred Skills:
- Experience with international facultative placements or cross-border risks.
- Familiarity with property, casualty, specialty lines, or life/health products depending on your area of expertise.
- Ability to build and maintain relationships with brokers and cedents.
Salary : $170,000 - $205,000
