Monday , February 26 2024

VP, Deputy Chief Underwriter – LFG Careers

Website Lincoln Financial Group

Job Description:

As the Vice President, Deputy Chief Underwriter for Lincoln’s Individual Life Underwriting & New Business Department, you will oversee a team of large-case experts, be responsible for final sign-off on larger cases (up to $50 Million), large case Governance Committee representation, appeal reviews, and interaction with our product partners on pricing discussions. In addition, the Deputy Chief will support our Chief Underwriter in building out strategies to remain “Leading Edge”, represent Underwriting & New Business at various customer and industry forums, and collaborate with the Associate Medical Directors and the head of Underwriting Training on education opportunities for our underwriters.

Interested in taking our “Leading Edge” Underwriting strategy and initiatives to the next level? Enhance our Risk Assessment practices and tools in support of mortality and morbidity philosophy? Work closely with our reinsurers to advance the business? This is the opportunity for you!

Job Responsibilities:

  • Directs the activities of the underwriting auditors and training area to monitor and improve underwriting quality and support continued growth and development of the underwriters.
  • Reviews and comments on Contestable Claims. Partners with Legal and Claims to determine which cases should be rescinded or which claims should be denied.
  • Supports the Chief Underwriter in establishing underwriting guidelines based on sound underwriting principles and understanding of product pricing, reinsurance implications and competitiveness.
  • Develops strategies to support marketing efforts highlighting underwriting practices that are a competitive advantage to Lincoln.
  • Follows the direction of the Chief Underwriter and works with the Chief Medical Director to revise preferred guidelines, underwriting requirements and changes to medical manual.
  • Builds and maintain relationships with distribution partners through visits to offices, sales meetings, making presentations and participating in study groups.
  • Negotiates with reinsurers regarding Lincoln’s underwriting practices.
  • Acts as an underwriting expert witness in litigated cases.
  • Negotiates with reinsurers on disputed claims, cases and treaty issues
  • Provides guidance and advice to underwriters on complex cases
  • Responds to company and external audit findings and makes changes in procedures, workflow, and guidelines

Job Requirements:

  • Ability to translate complex technical and business data into meaningful information using the appropriate communication vehicle.
  • Proficient in analyzing and interpreting complex financial documents including profit/loss statements, income statements, and balance sheets.
  • Carries out duties in compliance with all state and federal regulations and guidelines. Complies with all company and site policies and procedures.
  • Represents Lincoln at industry meetings for sales, reinsurance and underwriting by chairing or participating on panels or making presentations.
  • Strong knowledge of sales concepts and legal issues impacting the industry and specifically affecting underwriting guidelines or practices
  • 5+ Years of Managerial, Supervisory, and/or demonstrated leadership experience
  • Ability to adapt and customize content and communication style to fit a variety of specific external and internal target audiences such as: senior management, senior distribution partners, brokers, and all levels of employees.
  • Partners with Marketing to highlight underwriting practices for publication to our field customers
  • Authors position papers as it relates to underwriting practices (i.e. STOLI, Captives)
  • Devises underwriting guidelines to support new distribution or sales concept such as institutional channel.
  • Creates and monitors budget for area of responsibility
  • Remains current in profession and industry trends.

Qualification & Experience:

  • 12+ Years of Experience in Individual Life Underwriting directly aligned to the specific responsibilities of this role and experience handling all aspect of highly complex & very large face amount policies (Required)
  • Educational experience and/or proficiency in all aspects of risk selection (medical, non-medical, financial)
  • 4 Year Bachelor’s degree or 4+ equivalent work experience (4 years of experience in lieu of Bachelor’s) (Minimum Required)
  • Industry course work and professional designations: FALU (Highly Preferred)
  • Extensive knowledge of reinsurance practices and operations, product, legal and compliance underwriting issues, claims and distribution
  • Proficient in estate growth and life expectancy calculations.
  • Ability to read, comprehend and interpret general business periodicals, professional journals, technical procedures, and/or governmental regulations.

Job Details:

Company: Lincoln Financial Group

Vacancy Type:  Full Time

Job Location: Hartford, CT, US

Application Deadline: N/A

Apply Here