Director, Underwriting

The Underwriting Director leads and manages a team of underwriters, overseeing the underwriting process to ensure accurate risk assessment, compliance with company policies and industry regulations, and the achievement of profitability goals. Oversees new business pricing, renewals, and related reporting and analysis for all products and business segments. Supports development and execution of strategic plans in support of department and company goals.  Manages the pricing and financial risk to meet defined gross margin goals and membership growth objectives.  

JOB DUTIES AND RESPONSIBILITIES 

Strategic Planning and Execution:

• Work with Vice President, Underwriting and Data Insights to define strategic and tactical goals for the department annually and support strategic planning process.
• Develop and implement underwriting strategy, operations, and policy for all product lines in alignment with organizational profitability and growth targets, staying informed of industry trends and changes.

 Pricing and Risk Management:

• Oversee the underwriting process, risk management and controls in line with organizational goals and market conditions.
• Oversee the Underwriting team in pricing negotiations and net margin management to ensure appropriate pricing and accurate evaluation of potential risks.

• Make key business decisions to balance financial goals with client and consultant/broker demands, and market conditions. Manage staff to execute overall strategy while considering appropriate exceptions and alternative strategies.

• Manage and monitor the portfolio of business, analyzing underwriting data and performance metrics to identify trends, and make necessary adjustments to rates, commissions, and coverage to meet profitability targets.

 Team Leadership and Development:

• Lead, mentor, coach and develop the underwriting team, including hiring, training, performance evaluations, and fostering career development.
• Provide technical leadership, training and guidance.
• Ensure compliance with all applicable insurance laws, regulatory requirements, underwriting guidelines and best practices.

 Operational Efficiency and Underwriting Data Management:

• Optimize underwriting processes, procedures, guidelines, and process documentation to enhance efficiency and effectiveness, identifying opportunities for continuous improvement.
• Generate reports on underwriting activities and performance to optimize team performance and drive business strategies. 
• Engage in development and deployment of data warehouse, business intelligence, reporting, and/or artificial intelligence systems to support underwriting functions. 
• Implement, maintain, and leverage underwriting software, data analytics tools, pricing and gross margin models to improve client and book of business data analysis, risk assessment accuracy, and gross margin forecasting.

 Annual Filings, Underwriting Reserves, Reporting and Analysis

• Direct and oversee annual preferred provider filing, and annual rate filings for all insured products including group, individual and Connector products in line with regulatory requirements and ensure successful approval. 
• Perform monthly and year-end claim reserve and quarterly refund reserve analyses.
• Provide financial risk and underwriting analysis for budgeting and forecasting, clinical policy initiatives, operational initiatives, product initiatives, as well as entry into new markets.

 Relationship Management:

• Build and maintain strong relationships with internal departments and external partners including Delta Dental Plan Association, Delta Dental member companies, third-party vendors and consultants, regulators, brokers, and customers ensuring effective communication and collaboration.
• Work closely with Directors of Sales, and Director of Client Experience to ensure renewal of group clients, achievement of sales goals, and overall loss ratio management. 
• Collaborate with Sales, Marketing and core internal departments in support of RFP/RFI’s for prospects and existing clients.
• Work closely with Manager of Data Insights and Director of Data Strategy to ensure appropriate access to data models and applicable query and analysis tools.
• Represent the underwriting department at internal and external forums. 

  JOB REQUIREMENTS

• Bachelor’s Degree in Business, Mathematics, Actuary, Economics or related field with a minimum of fifteen years’ related health or dental plan underwriting experience with progressive managerial responsibilities.
• MBA, actuarial certification, or related advanced degree preferred; related industry health insurance designations a plus.
• Technical skills:  Advanced proficiency in Microsoft Excel, Word, PowerPoint and Outlook required. Experience with SQL, BI data management tools, data mining, statistical analysis and query tools preferred.
• Ability to relate underwriting processes to the financial performance of the company through the use of internal financial reporting, renewal pricing metrics, and market feedback to optimize outcomes.
• Demonstrated ability to manage staff to execute multiple financial, growth and strategic goals. Ability to communicate orally or in written form effectively with internal and external customers, including all levels of company management.
• Demonstrated ability to manage underwriting staff of varying experience levels and to mentor them to grow in responsibility levels and personal development.
• Ability to anticipate and solve practical problems or resolve business issues.   Demonstrated comfort level working to solve business challenges where rules or standard guidelines may not apply. 
• Demonstrated success in creating new processes or solutions when external markets or competitors actions create roadblocks to our strategy. 
• Ability to represent Department in management, strategy, project or client meetings when Vice President is not available.
• Proven record of team building, motivating staff and goal attainment.

The specific statements shown in each section of this description are not intended to be all-inclusive. They represent typical elements and criteria necessary to successfully perform this position.

 ** In accordance with Delta Dental of Massachusetts’ Compliance Plan, all employees must conduct Delta Dental of Massachusetts business and activities in accordance with applicable laws, regulations, professional standards, and ethical standards and report potential compliance or ethical issues to Delta Dental of Massachusetts’ designated Compliance Officer. **

Delta Dental of Massachusetts’ Affirmative Action Program affirms our commitment to make reasonable accommodations for known physical or mental limitations of otherwise qualified individuals with disabilities or special disabled veterans unless the accommodation would impose an undue hardship on the operation of our business and activities. Please see Human Resources for additional information regarding this program.