Underwriting Analyst

Employer
Facility Association
Location
Toronto, ON
Starts
Closes
Job Category
Insurance

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 to join us as an Underwriting Manager.

OBJECTIVE:

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 actively participate in the scheduling, development and execution of rate filings with fellow Underwriting Managers. As well, the candidate will assist with the operationalization of various initiatives related to the modernization of the Facility Association Residual Market (FARM), as well as maintenance of Risk Sharing Pool (RSP) Eligibility for Private Passenger Vehicles. 

The candidate will produce various standardized 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 Private Passenger Vehicles (PPV) and non-PPV lines of business;
  • Provide support to prepare rate and rule filings in accordance with regulatory requirements;
  • 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;  
  • 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.  

 

QUALIFICATIONS:

  • Minimum 5 years Underwriting experience;
  • Working knowledge of the automobile insurance regulatory environments;
  • Chartered Insurance Professional (CIP) Designation or actively working towards completion;
  • Undergraduate Degree or Post-Secondary Diploma;
  • Intermediate proficiency in MS Office;
  • Excellent communication skills, time management and organization skills;
  • Strong interpersonal skills with the ability to work successfully within cross functional teams;
  • Possess a creative, innovative approach to problem solving;
  • Strong business ethics for handling business-sensitive or confidential information.

 

Please send resume to:

Facility Association

E-Mail: careers@facilityassociation.com

 

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.