Head of Financial Institutions, LexPro

Join us as Head of Financial Institutions, LexPro to play a key leadership role that will drive business growth.

Mark your mark in Underwriting

AIG Underwriting teams help to find insurance solutions in areas including Financial Lines, Property, Casualty, Specialty Lines, Cyber, and Multinational Clients. We are reimagining how we help customers to manage risk, transforming our operating model and reshaping our role responsibilities and career pathways. The goal is to unlock the full potential in each colleague – empowering our people to grow as insurance professionals and add more value to our customers and AIG.

How you will create an impact

The Head of Financial Institutions (FI) for LexPro will be based in New York Metro or Chicago and will report to the Head of LexPro. This position will work closely with senior management, actuarial, claims, finance, legal and operations on all aspects of product creation including form development, pricing, and portfolio performance across all lines of business in LexPro, with an acute focus on profitability.  In addition, all Financial Institution underwriting will report up to the Head of FI.  This position will collaborate with the AIG North American Financial Lines CUO to align on appetite, terms, pricing and limits consistency.

Job Description:

• Deliver profitable growth through effective risk selection; execute on rate, coverage and limits management strategies; drive targeted correction or remediation strategies as needed

• Manage all underwriting activities including planning and monitoring work, development of marketing skills and adherence to underwriting guidelines

• Deliver consistent underwriting best practices, in accordance with underwriting guidelines, to ensure rating, pricing, profitability, and structuring adequacy

• Assesses skills of underwriters, working with the Head of LexPro and Chief Underwriting Office to delegate underwriting authority based on demonstrated technical capabilities

• Support regional field underwriting staff through training and development activities

• Serve as key referral point for field underwriting staff within stated authority; apply knowledge of market and industry to provide guidance on complex risks, exposures, and decisions

• Drive leading talent management practices, including but not limited to attracting, managing, developing and retaining talent

• Work with the underwriting team to draft and implement manuscript endorsements and broker specific amendatory endorsements.

• Review and refresh policy wording as needed.

• Understanding of regulatory and compliance processes.

• Work with broker, clients and internal resources to develop innovative new products and capitalize on Lexington competitive advantage.

• Manage all internal and external audit processes; Create and implement audit preparedness strategies for the team.

• Help create a culture that promotes collaboration, innovation, diversity, and inclusion

• Represent the company in a professional manner at industry functions, conventions, and corporate events. 

What you'll need to succeed

• An undergraduate degree

• Minimum 10 years of Commercial Insurance Company, Agency or Brokerage experience, within the Financial Institutions space.

• Understanding of regulatory and compliance processes.

• Proven ability to build and maintain strong professional relationships

• Advanced knowledge of US Financial Lines business including product features, forms, regulatory environments and risks etc.

• Commercial in approach; goal-oriented but flexible enough to value different methods of achievement

• Strong influencing and communications skills; able to work across multiple areas both internally and externally

• Highly developed leadership skills that inspire teams to realize their potential

• Ability to challenge effectively both people and portfolio strategy with the ability to effect change where appropriate

• Ability to work in dynamic, rapidly changing environment, adapting to changing requirements and collaborating with a wide range of colleagues to quickly deliver solutions

• Willingness to be flexible, learn on the job, and maintain a can-do attitude

• Comfort with analytical tools and technology

• Available to travel when required

Ready to put your ideas into action? We would love to hear from you.

For positions based in New York, the base salary range is $215,000-$270,000. For positions based in Chicago, the base salary range is $215,000-$270,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits, a summary of which can be viewed here: US Benefits Overview.

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At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of inclusion

We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities.  If you believe you need a reasonable accommodation, please send an email to [email protected].