Senior Underwriting Analyst
About Facility Association
The Facility Association (“FA”) is an unincorporated non-profit organization established by the automobile insurance industry to ensure that automobile insurance is available to all owners and licensed drivers of motor vehicles where such owners or drivers are unable to obtain automobile insurance through the voluntary insurance market.
Additional information in relation to Facility Association is available on its website: http://www.facilityassociation.com
We are looking for exceptional talent to join our team as we expand the Underwriting, Claims and Operations department and continue to build on our unique position to serve the insurance industry and the Canadian public. FA is continually transforming to serve our stakeholders better and we invite all persons who are passionate about insurance to apply for the position as a Senior Underwriting Analyst.
The primary objective of the Underwriting Team at the Facility Association is to oversee Risk Sharing Pool (RSP) Eligibility criteria, as well as administer the Facility Association Residual Market (FARM), by maintaining a thorough understanding of the Canadian Insurance Market to develop avenues for consumers to successfully (re)enter the voluntary market.
Reporting to the Director of Underwriting, the successful candidate will directly contribute to the operationalization of various initiatives related to the modernization of the Facility Association Residual Market (FARM), focusing on the Commercial, Interurban, Public and Garage lines of business, as well as maintenance of Risk Sharing Pool (RSP) Eligibility for Private Passenger Vehicles.
The successful candidate will also act as an underwriting resource to the Director of Operations, ensuring a birds eye view is maintained on the current operations of the FARM and assist in resolving bottlenecks that would prevent the successful execution of a 3-year plan for a portfolio of initiatives in support of FA’s Purpose and Mission.
The candidate will be accountable for producing various reports necessary to monitor the operational performance of Facility Association Servicing Carriers and the maintenance, creation and interpretation of reports and dashboards related to understanding FA’s market position relative to the standard market for F.A. Stakeholders, Committees and Member Companies.
DUTIES AND RESPONSIBILITIES:
- Provide detailed analysis identifying trends and risk exposures that may increase placement of risks in the FARM and member use of the RSP’s;
- Monitor FARM Service Standard and liaise with Servicing Carriers to ensure action plans are executed;
- Actively identify segments of business available to depopulate from the FARM and execute plans to depopulate;
- Investigate emerging issues, including the review policy wordings related to the underwriting of non-PPV lines of business, including Commercial, Interurban Trucking, Public Auto, Garage auto and Non-Owned Automobile policies;
- Provide support to review and maintain the FARM Manual of Rules & Rates across all jurisdictions for the purposes of harmonization and simplification for ease of automation;
- Provide support to review and maintain the RSP Eligibility Manuals in all jurisdictions for the purposes of harmonization and simplification for ease of use by Member Companies;
- Provide support to review proposed changes to the FARM Manual of Rules & Rates and RSP Eligibility Manuals to ensure compliance with regulations and alignment with the F.A. Purpose and Mission;
- Coordinate the preparation of materials for the Rates & Rules Committee and oversee the appeals process on disputes related to the FARM in partnership with the Provincial Operating Committee Chair;
- Lead key projects and work collaboratively with internal and external stakeholders;
- Liaise with FARM Servicing Carriers and Risk Sharing Pool Members as required;
- Foster positive business relationships with staff, external stakeholders and regulators;
- Must be able to work both independently and in a team environment;
- Perform other duties as assigned, in accordance with the role responsibilities or necessary to achieve departmental/corporate objectives.
- Minimum 3 years experience as a Product and Pricing Analyst OR Minimum 5 years commercial automobile underwriting experience with prior experience underwriting Fleet and Garage business an asset;
- Working knowledge of the automobile insurance regulatory environments in the jurisdictions in which F.A. operates;
- Chartered Insurance Professional (CIP) Designation or Fellows Chartered Insurance Professional (FCIP), or actively working towards completion;
- Canadian Risk Manager (CRM) Designation, an asset;
- Undergraduate Degree or Post-Secondary Diploma;
- Ability to navigate and interpret regulations (Statutes, Acts) and guidelines related to the regulation of Automobile Insurance and Insurance Companies;
- Intermediate proficiency in MS Office;
- Advanced proficiency in MS Excel, including prior experience creating pivot tables and forms in Excel;
- Excellent communication skills, time management and organization skills;
- Strong interpersonal skills with the ability to work successfully within cross functional teams;
- Demonstrated track record in meeting deadlines, effectively working on multiple tasks under time constrains;
- Possess a creative, innovative approach to problem solving;
- Strong business ethics for handling business-sensitive or confidential information;
- Proven ability to make independent judgements.
Please send resume to:
This position qualifies under the Employee Referral Program. Facility Association is an equal opportunity employer.
Facility Association is committed to providing accommodation for people with disabilities.
Applicants need to make their needs known in advance.
Please be advised that only those applicants who are selected for interviews will be contacted.