Director – Institutional Underwriting

About the role

Provides direction, control, and continuous improvement of institutional underwriting services supporting the Institutional Solutions business, including Pension Risk Transfers (PRT), Structured Settlements, Guaranteed Investment Contracts (GICs), Funding Agreements, Funding Agreement‑Backed Notes (FABNs), and other institutional retirement and investment products.

Responsibilities

• Direct day-to-day institutional underwriting activities through Underwriting Managers supporting PRT, Structured Settlements, and related products, ensuring consistent application of underwriting standards, pricing assumptions, and risk guidelines.
• Review, consult on, and approve complex or high-exposure institutional transactions and underwriting exceptions within assigned authority to ensure appropriate risk selection and profitable outcomes.
• Implement underwriting strategies aligned with business objectives, including earnings enhancement initiatives, market competitiveness, and support for new institutional product development.
• Provide underwriting leadership and oversight for system, model, and process enhancements impacting institutional underwriting, in partnership with Actuarial and Technology (ART), from pricing through installation.
• Ensure underwriting practices comply with Company policies, governance standards, and applicable legal and regulatory requirements; support audits, reviews, and risk oversight activities.
• Develop and maintain an engaged and accountable underwriting management team; monitor performance, quality, and service levels; and drive continuous improvement in productivity and operational effectiveness.

Requirements

Extensive experience underwriting complex, long-duration institutional annuity or investment products, such as PRT, GICs, funding agreements, or similar solutions, with strong risk selection and pricing judgment.

Demonstrated ability to lead through managers, implement underwriting strategy, drive change, and balance risk discipline with profitability and growth objectives.

Strong financial and analytical skills to evaluate complex institutional transactions, with the ability to partner effectively on pricing models, underwriting systems, and process enhancements.

Proven ability to build effective relationships and communicate underwriting positions and recommendations across Actuarial, Investments, Technology (ART), Product, Operations, and senior leadership.

Preferred

• Advanced Industry Knowledge
• Experience with Pension Risk Transfer (PRT) transactions, Funding Agreements, FABNs, Structured Settlements, or other institutional retirement and investment products
• Professional Designations & Education
• Advanced degree in Business, Finance, Economics, Risk Management, or related field and/or professional designations
• Institutional Markets Expertise
• Knowledge of institutional investment markets, asset-liability management principles, and the interaction between underwriting, actuarial, and investment functions
• Transformation & Technology Leadership Experience
• Leading underwriting transformation initiatives, including implementation of underwriting platforms, pricing models, workflow automation, or data analytics capabilities
• Regulatory & Governance Experience
• Familiarity with insurance regulatory frameworks, governance practices, and risk management standards applicable to institutional insurance products
• Executive Influence
• Demonstrated success presenting complex underwriting decisions, risk positions, and business recommendations to executive leadership and cross-functional stakeholders