AVP - Captive Solutions (Captive Consultant)
Key State
About the Role
KeyState is seeking a Captive Consultant to drive the profitable growth of our Captive Practice.
Responsibilities
Lead data-driven feasibility analyses (510 years of loss data, total cost of risk) to recommend optimal retentions, layering, and capital strategies.
Evaluate fronting options and reinsurance markets; prepare underwriting-ready submissions.
Identify additional lines suitable for phased captive expansion and position KeyState as a long-term strategic advisor.
Provide disciplined underwriting guidance across assigned captives, including risk selection standards, pricing adequacy, and trend assumptions.
Analyze loss development and reserves; recommend corrective actions (pricing, limits, retention).
Support renewal negotiations with data-backed narratives for fronting carriers and reinsurers; assist with policy wording, coverage structure, and limits.
Design layered programs and reinsurance towers; optimize capital efficiency and collateral.
Coordinate with actuaries and brokers on pricing and reserving assumptions; develop market submission materials.
Segment risk to reduce volatility, and improve long-term captive performance.
Maintain active relationships with multiple fronting partners and reinsurers as well as brokers.
Evaluate collateral and cost-of-capital impacts; assist in negotiating terms and securing capacity.
Represent KeyState with technical authority at targeted industry events (e.g., CICA, VCIA); conduct pre-event outreach and structured post-event follow-up.
Participate in panels or roundtables when appropriate and generate qualified feasibility discussions that translate into captive formations.
Conduct annual strategic and underwriting reviews; recommend new lines (e.g., cyber, GL, professional liability) and structural optimizations.
Drive expansion within mature captives while sustaining high client retention.
Qualifications
5+ years of underwriting or alternative risk/captive experience.
Strong financial and actuarial literacy; ability to interpret loss triangles, pricing models, reserves, and capital requirements.
Experience underwriting commercial lines programs and structuring layered reinsurance/fronting arrangements.
Executive-level communication and presentation skills (board and C-suite).
Entrepreneurial mindset aligned with a growth platform; high ownership and follow-through.
Prior work with fronting carriers and reinsurers; proven ability to produce underwriting-ready submissions.
Familiarity with feasibility processes, types of captive structures, and captive expansions across multiple lines.
Professional designations (e.g., ACI, CPCU, ARM, CPA) are a plus.
Benefits
Total Compensation Is Commensurate With Experience, Education And Qualifications.
Work Environment
This role may be based in KeyState’s Vermont Office or Remote (U.S.), with periodic travel to client sites, carriers, reinsurers, and industry conferences.
About KeyState
Founded in 1991, KeyState is a rapidly growing, privately held financial services firm specializing in providing tax-advantaged investments to community banks. With over $18 billion in assets under management, KeyState has managed investment subsidiaries for community banks for over 35 years. In 2008, KeyState launched its captive management practice that grew to form and manage captives for over 100 companies across the US. In 2019, KeyState launched a renewable energy tax credit investment platform for community banks. KeyState helps community banks source, underwrite, and manage tax credit investments. To date, KeyState has raised and deployed approximately $1 billion in tax credit capital for community banks, financing over 200 renewable energy projects across the United States.