Consultant II, Underwriting

Compensation grade: G4

Series 6 must be obtained within 120 days from hire.

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Job Description Summary

Our underwriters work hard to provide the exceptional customer experience for which Nationwide is known. Actively engaging with our firms and financial professionals to get to know their clients and their needs builds our understanding of the market, what is needed to win business and put our best offer out first.

If you thrive working autonomously, making decisions on a variety of impactful issues and continuing to learn and adapt to grow, we want to know more about you!

As a Life Underwriting Consultant, you'll analyze, select and classify applications for life insurance, of considerable technical complexity and exposure, to ensure underwriting quality according to established underwriting policies, practices and standards. You'll review and make decisions on larger, more sophisticated, or unusual business. To succeed, you'll need to coordinate life selection standards according to underwriting practices and procedures to achieve satisfactory mortality experience and acceptable administrative results. You'll have opportunities to provide leadership on projects, departmental committees and on the team by identifying problems and potential solutions and be serving as a referral point for less experienced underwriters. You'll work with latitude for independent judgment based on your underwriting authority and company underwriting standards.

Job Description

Key Responsibilities: 

• Receives, evaluates and underwrites, on a medical or non-medical basis more complex applications for life insurance up to their maximum handling limit as  approved by the Chief Underwriter. Protects the confidentiality of documentation and information acquired throughout the underwriting process. Works within broad limits and authority on highly sophisticated assignments requiring niche knowledge in area of expertise.

• Maintains in-depth knowledge of manuals, underwriting materials, rules, regulations, procedures medical factors and practices impacting mortality and morbidity underwriting. Maintains solid understanding of all underwriting administrative systems to conduct business and provides outstanding service to all internal and external customers and field partners.

• Evaluates and accesses applications requiring additional evidence of insurability. Determines the need for and authorizes the ordering of, underwriting requirements to include, but not limited to, medical examinations, blood profiles, home office specimens, attending physician reports, inspection reports, client direct interviews, and other essential information.

• Develops a strong understanding of the accelerated underwriting process and can apply risk-based decision-making skills to determine the appropriate requirements needed to provide protective value as well as determining appropriate risk class.  This may include but not limited to, making fluid-less underwriting decisions as well as the utilization of alternative sources of medical information while maintaining appropriate tolerance for accepting risk.

• Evaluates, appraises and quantifies data derived from personal or business financial information and establishes insurable interest in keeping with the principle of indemnification.  Handles complex financial underwriting applications and often assists others through referrals and training on financial underwriting.

• Reaches terms on, coordinates, and negotiates both automatic and facultative reinsurance within the contractual terms and conditions of Nationwide's various reinsurance treaties and product and market practices.

• Consults with other underwriters on the team and accepts referred cases when designated. Suggests innovative solutions, motivates team performance and facilitates open communication to achieve desired results. Supervises the handling of unusual or challenging cases.

• Educates internal and external partners on underwriting process, practice and tools. Helps train less experienced underwriting staff. Coordinates, participates and leads training development and delivery for issues or initiatives requiring technical expertise.

• Works on special projects as assigned, with little to no direction and is expected to develop project plans, requirements, timelines, etc.

• Meets and presents with field partners as needed. Acquires input and feedback during these visits to build a better understanding of partner needs and expectations.

• Interprets electrocardiogram tracings received as evidence for life insurance applications. Consults with Medical Director for cases where physician input is required.

• Determines eligibility for temporary insurance and authorizes disbursement of policy refunds if the TIA is not eligible.  Also authorizes reimbursement and for medical records or other fees requested as associated with requirements needed to confirm evidence of insurability.

• Consults with Chief Underwriter, Staff Underwriting, Senior Underwriting Consultants, and the Medical Director as the need arises.

• Supports and assists in meeting goals and objectives for varying territories, special agent programs and contests.

• Resolves challenges with effective solutions while maintaining focus on improving time service, quality of application submissions and underwriting quality and wastage.

• Handling up to $10,00,000 for life, up to $1,000,000 sign off for morbidity underwriting, and sign off authority for exceptions on Intelligent Underwriting.

May perform other responsibilities as assigned.

Reporting Relationships: Reports to Underwriting Manager or Director.

Typical Skills and Experiences: 

Education: Undergraduate studies in medical related discipline, marketing, insurance, risk management, economics, finance or business management.

License/Certification/Designation: Obtainment of AALU designation. Participation in, or attainment of, professional/technical studies or designation such as the Chartered Life Underwriter (CLU) and Fellow of Life Management Institute (FLMI). EKG Certified preferred. 

Experience: Ten years life underwriting experience

Knowledge, Abilities and Skills:

 
Medical Underwriting: Understands the anatomy of the human body and disease processes and can assess the impact of an individual’s mortality and morbidity risk and can translate that to assess the appropriate risk classification.

Financial Underwriting: Solid foundation for sophisticated financial underwriting. Extensive knowledge of life underwriting principles and practices, including basic contract law. In-depth knowledge of anatomy, physiology, pathology, medical and non-medical risks as they relate to life insurance. Knowledge of managing and interpreting underwriting results.

Relationships: Very comfortable negotiating offers and calling out on offers that are other than applied for to explain reasons to the advisor or sales leader. 

Proven knowledge of products and reinsurance - is comfortable and has relationships with our facultative reinsurance partners. Can reach terms on reinsurance decisions. Actively involved in industry meetings/conferences and our CE program. Excellent verbal and written communication skills for internal/external contacts. Strong collaboration and presentation skills in individual or group settings. Ability to make decisions on highly complex issues and work with minimal direction. Proficiency in conflict resolution. Agile and adaptable. Advanced ability to handle ambiguity in a flexible and responsive manner. Ability to coach, train and mentor other underwriters. Advanced analytical and critical thinking skills. Able to analyze highly complex insurance risks to assess acceptability including policy language, alternative rating plans, methodologies, and reinsurance. Ability to communicate difficult concepts and influence others to adopt a different point of view. Excellent judgment and creative problem-solving skills including negotiation and conflict resolution skills. Proven track record of reaching a solution in situations where there may be multiple options. Able to make difficult decisions and suggest alternative solutions. Consistently draws on appropriate perspectives and resources. Demonstrates strong resilience and supports others through change.

Other criteria, including leadership skills, competencies and experiences may take precedence. 

Staffing exceptions to the above must be approved by the hiring manager’s leader and HR Business Partner.

Values: Regularly and consistently demonstrates the Nationwide Values.
 

Job Conditions: 

Overtime Eligibility: Exempt (Not eligible)

Working Conditions: Normal office environment and may have the option to work from home.  Non-standard hours and some travel may be required.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties. 

Attention Colorado applicants, the pay range for this position is:

$90,000.00 - $137,000.00