Risk Control Consultant - Financial Institutions/Management Liability at Continental Casualty Company in Chicago, Illinois

Job Description:

Description

Job Summary



Individual contributor responsible for the overall risk control assessment evaluation consulting and technical support on complex issues/assignments for CNA's Financial Institutions and Management Liability policies . Recognized as a technical expert in these product lines. Under general management direction works within broad limits of authority requiring a high degree of technical complexity and coordination. May have regional industry segment or company-wide scope.

Essential Duties and Responsibilities

• Conduct pro-active research to identify and help mitigate emerging exposures and emerging compliance risks to Financial Institutions and Management liability customers.


• Collaborate with Underwriting, Claim and Risk Control Solutions teams to identify trends and emerging risks or exposures.


• Research of complex risk management inquiries from internal and external customers.


• Develop risk control assessment tools and resources.


• Develop risk control products and service capabilities for valued customers.


• Support CNA Underwriting in determining appetite, selecting risks, developing products and participating in sales meetings.


• Complete submission consultations with CNA Underwriting regarding potential new business opportunities to determine risk exposures and provide recommendations.


• Provide training for distribution partners to provide knowledge regarding industry risks, as well as CNA insurance products and risk control services.


• Participation in marketing meetings with distribution partners and prospects to promote risk control services and products and demonstrate service differentiators.


• Participate in actuarial reserve and pricing discussions to provide insight and identify risk trends and mitigation strategies.


• Present at industry conferences, CNA educational events, and distribution partner forums.


• Publish articles in industry journals.


• Strengthen analytical capabilities to pro-actively identify and mitigate risk exposures in close collaboration with the Risk Control solutions team.


• Leverage a data-driven approach to more effectively support underwriting business partners.


• Develop metrics to measure efficacy of risk control services.


• Act as a trusted advisor to insureds, internal customers and distribution partners.

Skills, Knowledge and Abilities

• Ability to identify risk issues that could lead to loss in financial institutions E&O and/or associated with management liability insurance coverages.


• Knowledge of loss drivers that often occur in different types of financial institutions, including banks, insurance companies, asset managers, life insurance agents and/or broker-dealers.


• Knowledge of practices, procedures, systems, and incidents that contribute to liability risks in various types of financial institutions and/or associated with management liability insurance coverages.


• Ability to identify solutions to minimize loss drivers in financial institutions and provide recommendations to insureds to mitigate risk.


• Understanding of, and ability to minimize, loss drivers in community associations and provide recommendations to insureds to mitigate risk.


• Effective presentation skills to impart information to large audiences.


• Effective communication skills to build rapport with customers and gain compliance in their acceptance and implementation of risk control practices.


• Effective writing skills to convey information to underwriters and policyholders in a manner that clearly identifies areas of risk and delineates effective recommendations to resolve or minimize risks.


• Understanding of quality/performance improvement activities that minimize risk.


• Knowledge of federal and state regulations associated with financial institutions.

Education and Experience

• Bachelor's degree with J.D.


• Risk control, claims and/or law firm experience with financial institutions, community associations and/or management liability preferred


• Compliance experience preferred


• Strong written and oral skills

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Job

Risk Control

Primary Location

United States

Organization

USSPL-Risk Control

Job Posting

Jul 27, 2021

Unposting Date

Ongoing

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