AVP, Financial Institutions within Financial Lines - Starr Companies : Job Details

AVP, Financial Institutions within Financial Lines page is loadedAVP, Financial Institutions within Financial LinesApply locations 399 Park Avenue-New York, NY time type Full time posted on Posted 30+ Days Ago job requisition id JR3146

Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world.Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world's fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.

Position Overview:We are seeking a dynamic and experienced Assistant Vice President (AVP) to join our Financial Institutions team within the Financial Lines division. The AVP will play a critical role in managing and growing our portfolio of financial institutions, including banks, asset managers, insurance companies, and other financial entities. This role involves overseeing a team of underwriters and support staff, ensuring the delivery of exceptional service and underwriting excellence.

Key Responsibilities:

Leadership and Team Management:

• Lead, mentor, and develop a team of underwriters and support staff, fostering a collaborative and high-performance culture.
• Set clear performance goals, provide regular feedback, and conduct performance evaluations.
• Ensure the team adheres to company policies, underwriting guidelines, and regulatory requirements.

Underwriting and Portfolio Management:

• Oversee the underwriting of financial institutions' risks, ensuring profitability and adherence to underwriting guidelines.
• Develop and implement strategies to grow the financial institutions' portfolio, including identifying new business opportunities and maintaining strong relationships with existing clients.
• Monitor and analyze portfolio performance, making recommendations for adjustments as needed.

Client and Broker Relationships:

• Build and maintain strong relationships with key clients, brokers, and other stakeholders.
• Represent the company at industry events, conferences, and client meetings to promote our financial lines products and services.
• Address and resolve any client or broker issues promptly and effectively.

Product Development and Innovation:

• Collaborate with the product development team to enhance existing products and develop new offerings tailored to the needs of financial institutions.
• Stay abreast of industry trends, regulatory changes, and emerging risks to ensure our products remain competitive and relevant.

Risk Management and Compliance:

• Ensure all underwriting activities comply with internal policies, regulatory requirements, and industry best practices.
• Conduct regular audits and reviews to identify and mitigate potential risks.
• Work closely with the compliance and legal teams to address any regulatory or compliance issues.

Financial Analysis and Reporting:

• Prepare and present regular reports on portfolio performance, underwriting results, and market trends to senior management.
• Develop and manage the budget for the financial institutions' team, ensuring financial targets are met.

Qualifications:

• Bachelor's degree in Finance, Business Administration, or a related field; advanced degree or professional designation (e.g., CPCU, ARM) preferred.
• Minimum of 8 years of experience in the insurance industry, with a focus on financial institutions and financial lines.
• Proven track record of successful underwriting and portfolio management.
• Strong leadership and team management skills, with experience leading a team of underwriters.
• Excellent communication, negotiation, and relationship-building skills.
• In-depth knowledge of financial institutions' risks, insurance products, and regulatory environment.
• Strong analytical and problem-solving abilities.
• Ability to work effectively in a fast-paced and dynamic environment.

For individuals hired to work in New York, Starr Insurance Companies is required by law to include a reasonable compensation range for this role. The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skills sets: experience and training, licensure and certifications; and other business and organizational needs. A reasonable estimate of the current range is $190,000 - $220,000.

Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.