VP, Delegated Authority

As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.Job DescriptionAre you looking for your next opportunity? Sompo has a unique opportunity for a Vice President, Delegated Authority Business role for our North America Property & Casualty teamin our Chief Strategy Office organization. In this newly established position, your primary responsibility will be to develop a strong and scalable underwriting and operational framework. You will be instrumental in the establishment and execution of our new delegated authority center of excellence, focusing on creating underwriting and non-underwriting services throughout the entire delegated authority life cycle. Location: This position can be based out of the following Sompo office locations. Alpharetta, GABoston, MACharlotte, NCChicago, ILDallas, TXMorristown, NJMount Juliet, TNNew York City, NYPurchase, NYWe strive for collaboration, which is why we offer a work environmentwhere our employees thrive and develop long-lasting careers. Our business, your impact, our opportunity: What you'll be doing: Collaborating with the Chief Strategy Officer to facilitate the efficient onboarding and management of all MGAdelegated agreements and underwriting contracts, while ensuring comprehensive operational due diligence is conductedCollaborate with the various Product and Underwriting areas within North America that are marketing and underwriting the initial MGA opportunitiesProvide review and guidance in conjunction with Underwriting, Operations, Claims, Finance, Actuarial, and Compliance teamsOversee and uphold delegated data standards, managing EPI, and being responsible for handling all regulatory and internal delegated authority auditsComprehensive management of the business, encompassing due diligence, onboarding activities, underwriting referrals, pricing analysis, underwriting audits, data feed review, and relationship management with Program AdministratorsMGAsRecommend actions for portfolio steering, innovate in product and process, and implement strategies for enhancing profitabilityTasked with overseeing the data generated by various MGAs (bordereaux) and ensuring its compatibility with Sompo systemsKnowledge of Underwriting principles, industry standards, and market developmentCollaborate with management to establish and achieve budgeted premium targetsCoordinate with the Claims Department regarding any specific loss activity on individual accounts that might impact profitabilityAssure Program AdministratorMGA is compliant with all underwriting and administrative guidelinesKeep up-to-date with significant industry issues and developmentsProactively foster an inclusive environment that encourages employee participation, teamwork, and open communication to develop a highly engaged workforceReview delegated authority accounts and renewals to ensure they align to our business plans and appetiteConduct Underwriting and Operational due diligenceOversee deal structuring and ensure adherence to delegated authority data standards and complianceManage post-bind delegated authority servicing by executing EPI management, handling mid-term adjustments (MTA), and preparing renewal packs along with any necessary renewal revisionsAccountable for monitoring and reporting on delegated authority, including overseeing binder underwriting performance and tracking operational performanceConduct delegated authority audit oversight by performing underwriting and delegated claims audits, tracking recommended actions, and escalating issues as necessaryLeadership Skills Strategic mindset with the ability to manage vision and purposeExpertise in change managementExcellent influencing and communication skillsStrong problem-solving and conflict resolution abilitiesStrategic orientation, managing vision and purposeWhat you'll bring Minimum 10 years of experience in Underwriting and or with MGA - Delegated businessExpert knowledge in Delegated Authority (DA) underwriting, and the relevant regulatory environmentsStrong critical thinking skills with the ability to underwrite, market products, identify financial challenges, and analyze available information to make decisions in alignment with our risk appetiteAbility to execute strategic direction across Delegated Authority in partnership with leadershipAbility to build, set strategy, lead, and execute a new business unitExcellent communication skills with the ability to effectively negotiate in challenging situations with stakeholders and brokersExperience coaching and mentoring team membersAbility to work with individuals from diverse backgrounds and view those differences as valuable assets for achieving business goals and objectivesAdvanced knowledge of organizational requirements and relevant regulatory requirements, policies, and proceduresAbility to work independently and collaboratively in a team-oriented environmentStrong organizational and time management skills with the ability to meet tight deadlinesSalary Range: $140k-$250k Actual compensation for this role will depend on several factors, including the cost of living associated with your work location, qualifications, skills, competencies, and relevant experience. At Sompo, we recognize that our employees' talent, skills, and commitment drive our success. This is why we offer eligible employees competitive, high-quality compensation and benefit programs. Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance, with final awards based on individual performance. We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs: Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contributionPharmacy benefits with mail order optionsDental benefits including orthodontia benefits for adults and childrenVision benefitsHealth Care & Dependent Care Flexible Spending AccountsCompany-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & childrenCompany-paid Disability benefits with very competitive salary continuation payments401(k) Retirement Savings Plan with competitive employer contributionsCompetitive paid-time-off programs, including company-paid holidaysCompetitive Parental Leave Benefits & Adoption Assistance programEmployee Assistance ProgramTax-Free Commuter BenefitTuition Reimbursement & Professional Qualification benefitsIn today's world, what do we stand for? Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success and that when relationships are held in the highest regard, nothing can be accomplished. At Sompo, our ring is more than a logo; it is a symbol of our promise. Click here to learn more about life at Sompo. Sompo is an equal-opportunity employer, and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone's unique contributions-we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.

Created: 2025-02-24