Underwriting Officer

Company: Liberty Mutual Insurance
Location: Chicago
Posted on: November 16, 2024

Job Description:

Schedule: Full-Time Salary Range: USD $80000.00 - $224000.00 Job Category: Underwriting Pay Philosophy The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role. Description Liberty's US onshore underwriting team works with risk engineers to provide market leading risk transfer solutions to domestic onshore energy clients through both retail and wholesale broker partners. Our team of highly experienced underwriters, engineers and claims staff provide the highest levels of customer service to our core clients through our expertise, trust, respect, transparency and integrated business unit approach. Our underwriting is based on prudent product development through the application of appropriate technical underwriting discipline. About the Role: Underwrite first party, energy property business in accordance with the business plan and within delegated underwriting authority. Energy property includes: Oil & Gas (downstream), Petrochemical, Chemical, Biofuels and Power Generation (natural gas and renewables) segments. Key Responsibilities: Strategy and Planning Support the development of the annual business plan for the Underwriting division and ensure delivery of the plan in accordance with stated risk tolerances. Utilize available resources to manage the portfolio and ensure business objectives are achieved. Contribute and promote new ideas and concepts to support the development and delivery of the business plan. Delivery Establish and strengthen relationships with brokers, industry bodies, business partners, reinsurers and colleagues, to maximize influence and achieve business objectives. Demonstrate understanding and awareness of market dynamics and market cycles to drive and enhance business performance. Continually develop expertise and technical knowledge through appropriate development initiatives. Underwrite insurance risks in accordance with the business plan, internal guidelines and personal authority to meet business objectives, including negotiating rates, terms and conditions for existing and new business. Work cross-functionally with counterparts in other functions (e.g., Risk Engineering, Claims, Actuarial, Finance, Operations) to achieve objectives. Compliance with the production and issue of documentation in accordance with contract certainty requirements. Ensure entries are properly recorded onto relevant systems in a timely manner while ensuring accuracy of data with relation to both underwriting and aggregate exposures. Policy, Process and Procedures Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance. Adhere to underwriting standards, instructions, and best practice methodology in order to minimize risk. Apply any reinsurance requirements in accordance with stated risk tolerances and to deliver against business plan. LSM expects an understanding of responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviors at all times. Qualifications Intermediate level knowledge of insurance products/coverage, underwriting, pricing, risk selection, market segments and marketplace; insurance finance and actuarial concepts; loss control/risk engineering; marketing techniques, regulatory environment and reinsurance; advanced-level knowledge of territory management. Ability to apply underwriting/appetite, tools, systems, and resources to achieve goals, solve complex problems, establish and build healthy working relationships, lead mentoring relationships, and negotiate, as normally acquired and a related bachelor's degree 5+ years of relevant experience preferred; CPCU or professional insurance designation strongly preferred. About Us **This position may have in-office requirements depending on candidate location.** At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession. Liberty Mutual has proudly been recognized as a "Great Place to Work" by Great Place to Work US for the past several years. We were also selected as one of the "100 Best Places to Work in IT" on IDG's Insider Pro and Computerworld's 2020 list. For many years running, we have been named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduates as well as one of America's Best Employers for Diversity. We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law. Fair Chance Notices California San Francisco Los Angeles Philadelphia Employment Type: Full Time

Keywords: Liberty Mutual Insurance, Wheaton , Underwriting Officer, Other , Chicago, Illinois