See The Original Here

Corporate Chief of Life Underwriting-Risk Management

Boston, MassachusettsUnderwritingR15415Job IDApply

OVERALL RESPONSIBILITY

The Corporate Chief, Head of Life Underwriting Risk Management will have the following primary responsibilities

  • Owns and maintains the Non-medical Underwriting Manuals and Lite Touch manual. Propose new or expanded opportunities (guideline or program changes) for underwriting based on analysis internally and then approval by product pricing, corporate actuarial and reinsurance (as appropriate). Changes should support new sales and also adhere to pricing assumptions. Guidelines/Programs should drive top line sales and producer/customer satisfaction. Maintain technical oversight and monitoring of all underwriting programs and guidelines.
  • Meet regularly with peers, reinsurers, startups and participate in study groups to keep pulse on industry changes, pain points, opportunities. Field Communications/Marketing/ Competitiveness - seek feedback on new guidelines or markets market those changes to promote our underwriting competitiveness.
  • Partner with Engagement & Enablement on any training needs for new or changed guidelines, as well as any themes requested by the operational underwriting organization. Manages team to provide support to underwriters. Acts as Subject Matter Experts for training, case referrals, exceptions, and escalations.
  • Partner with legal and compliance on recissions and claims investigations.
  • Identify opportunities to use new reinsurance tools and partner with reinsurance on any guideline changes.
  • Actively networks with industry contacts to gain competitive insights and best practices.
  • Maintain relationship/work close with Corporate Actuaries, Product and Enterprise Risk Management. Responsible for ensuring that underwriting strategy and risk assessment are aligned with the needs of other internal organizations and ensure that the risk selection process complies with regulatory requirements.
  • Develops and monitors the Underwriting risk management framework that includes the governance framework and practices leveraged across MM Underwiring functions to manage market risk. Work with stakeholders to implement the methodology, metrics, and program standards to ensure compliance and effective monitoring, timely reporting and identification of action plans. Owns ongoing fluidless program, participates in data science rules engine analysis.
  • Interprets new regulations and assesses impacts to the governance framework.
  • Identifies emerging issues and trends to inform decision-making and guideline changes.
  • Fosters a culture aligned to our purpose, values and strategy and role models values and behaviors in all that they do.
  • Partner closely with Product, Finance, Sales & Distribution, Digital Customer Care, Technology and Legal/Compliance functions.

CANDIDATE QUALIFICATIONS

  • College and advanced degree preferred.
  • Industry designations/education (FALU, FLMI, CLU) preferred.
  • Must have 15 years of Life Underwriting experience, and an authority limit of $30m or higher at MassMutual or a prior carrier.
  • Strong people leadership capability and management expertise.
  • Demonstrated knowledge of all aspects of risk selection (medical, non-medical, financial). Demonstrated knowledge of industry trends and reinsurance relationships. Mastery knowledge of individual life insurance practices, underwriting standards and operations.
  • Excellent communication skills analytical, negotiating and interpretative skills required.
  • Proven ability to interact effectively with others, viewed by peers, home office associates, field associates and underwriting management as the ultimate professional in risk selection.
  • Experience working with all types of distribution channels.
  • Strong knowledge of VNB, profits and product shelf and riders to prudently manage mortality and morbidity.
  • Strategic thinker, problem solver, staffing and building scalability, succession plans and talent management.
  • Excellent interpersonal skills.

#LI-MC1

MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment.

Apply