VP - Underwriting and Product Counsel

UFG is looking for a VP - Underwriting and Product Counsel to join our team.  In this role you will be a critical partner to various business units and will serve as a legal advisor on product development and strategy and insurance regulatory and compliance issues. The incumbent will be responsible for advising the underwriting and product teams on rate, rule and form matters, developing and drafting contract language for coverage enhancements and manuscript endorsements, and training the business on legal and regulatory developments and trends in further promotion of a culture of compliance and innovation. The incumbent will be the primary legal counsel for underwriting compliance-related reviews, including state regulatory market conduct exams and form inquiries, as well as conducting legal review of underwriting guidelines/standards and product and coverage marketing collateral.  

Responsibilities:

• Develop and draft contract language for policies, coverage enhancements and manuscript endorsements across all lines of insurance
• Create new and revised products as requested by Underwriting and aid in the development of new business initiatives
• Analyze, organize, and effectively distribute information on insurance industry developments, including department of insurance bulletins, enacted legislation, and other information issued by regulatory and non-regulatory authorities such as the American Property Casualty Insurance Association (APCIA).
• Proactively identify and solve for regulatory and compliance risks
• Regularly monitor and assess areas of company operations to assess and ensure proper underwriting regulatory compliance
• Review, revise and test underwriting compliance programs in accordance with regulatory expectations and best practices
• Lead efforts to manage, develop, implement, and direct changes required by regulatory and insurance industry authorities
• Develop and administer internal training on insurance compliance requirements, as needed
• Research and respond to questions internal business units concerning regulations, legislation, insurance department policies and positions, commercial deregulation, cancellation and nonrenewal, and other compliance-related issues
• Ensure accuracy and compliance of product and coverage related marketing materials by reviewing and approving prior to use
• Provide comprehensive legal review of underwriting guidelines
• Coordinate with product development teams to ensure that state-specific issues are addressed for new and existing lines of business and assist with product filings
• Analyze and assist with state expansion and new line of business strategy and execution
• Collaboration with agency distribution team to ensure compliance with agency compliance functions
• Verify that all corporate regulatory policies and procedures affecting all lines of business have been properly documented, implemented, and communicated to relevant internal and external parties
• Assist with broader company governance matters, internal audits, Enterprise Risk Management (ERM), market conduct examinations, financial examinations and all other regulatory examinations affecting all lines of business
• Inspire, mentor, and lead a high-performing team by setting clear goals, providing regular feedback, promoting professional development, and ensuring alignment with tactical and strategic objectives.
• Perform all other duties as assigned

Qualifications:

Education:

• Juris Doctor from an accredited law school required
• Active bar admission in any U.S. state required

Experience:

• At least 12 years of legal experience in insurance regulatory and/or product compliance (rate, rule, form)
• Expertise and knowledge of property/casualty insurance, and the legal and regulatory framework that supports business operations
• In-house experience with an insurance carrier is strongly preferred
• Demonstrated ability to provide strategic and tactical leadership to a team of talented professionals.
• Strong interpersonal relationship and communication skills, as well as a desire to colla
• Demonstrated experience providing strategic and tactical leadership to a team of talented professionals.

Knowledge, skills & abilities:

• Ability to manage multiple tasks and work effectively under pressure
• Keen analytical abilities and excellent judgment, a pragmatic approach to problem solving, flexibility to adapt and thrive in an environment that is constantly changing, and the ability to make smart decisions in the face of ambiguity and imperfect information
• Self-directed, solution-focused individual who has a strong work ethic, strong business acumen, and the ability to collaborate cross-functionally to achieve enterprise-wide results
• Skilled attention to detail and organization required
• Ability to prioritize and complete time-sensitive projects on time
• Must deploy sound, mature legal judgment, and influence to build effective working relationships with a wide variety of internal and external colleagues
• Ability to explain complex and/or sensitive information in a straightforward manner
• Desire to be a collaborative member of a highly-engaged, high performing team
• Well-developed technical skills to include various in-house systems (Guidewire, ImageRight)
• Strong people leadership experience
• Strong interpersonal relationship and communication skills, as well as a desire to collaborate, build rapport, add value and effectively problem-solve with their direct support team and the teams of the company.
• Demonstrated ability to interact with various levels of management and support personnel

Working Conditions:

• General office environment
• Must be available for occasional business travel (Estimated to be 5% of time or less)

Disclaimer:

The above statements are intended to describe the general nature and level of work being performed by individuals assigned to this job. It is not designed to contain or be interpreted as a comprehensive list of all duties, responsibilities, and skills required. Additional tasks and requirements may be assigned, as necessitated by business need. UFG retains the right to modify the description of this job at any time.