Vice President, Credit Officer / Warren, NJ (HQ)

Title:

Vice President, Credit Officer / Warren, NJ (HQ)

Company:

Everest National Insurance Company

Job Category:

Underwriting

Job Description:

It’s an exciting time for Everest Group, Ltd. (‘Everest’ or ‘the Group’)! As we continue on our journey, we see significant opportunity ahead of us to expand our reach, build diversity, and enhance our capabilities in critical markets.

Everest is a leading global reinsurance and insurance provider, operating for nearly 50 years through subsidiaries in the Europe, Bermuda, Canada, Singapore, US, and other territories. Our strengths include extensive product and distribution capabilities, a strong balance sheet, and an innovative culture. Throughout our history, Everest has maintained its discipline and focuses on creating long-term value through underwriting excellence and strong risk and capital management. But the most critical asset in this organization is our people. 

At Everest, we are committed to the development of our people. We offer dynamic training & professional development to our employees. You will benefit from career development and learning opportunities that will let you set career goals and fulfill them, including:

•          Generous tuition/continuing education reimbursement

•          Mentoring opportunities

•          Flexible work arrangements

•          Talent development initiatives

•          Networking groups

Everest is a growth company with $14 Billion of Gross Written Premium offering Property, Casualty and specialty products among others, through its various operating subsidiaries located in key markets around the world. Everest has been a global leader in reinsurance with a broad footprint, deep client relationships, underwriting excellence, responsive service and customized solutions. Our insurance arm draws upon impressive global resources and financial strength to tailor each policy to meet the individual needs of our customers.

Our financial strength is evident in Financial Agency Ratings of: A+ A. M. Best, A+ S&P Global and A1 Moody’s Investor Service. We are a market leader for our broad diversified income streams, strong underlying underwriting performance with reduced volatility and strong cash flow. We take pride in being known in the industry as nimble, entrepreneurial and responsive.

Job Description

The North America CUO Office of Everest Insurance, a member of Everest Group, Ltd., has an opportunity available for a Vice President, Credit Officer at our headquarters in Warren, New Jersey. 

As a key part of the CUO Office, this individual will support the Surety, Trade Credit and Political Risk credit functions, including management of the workflow to/from original offices.  Responsibilities include but are not limited to the following:

• Serve as leader within Corporate Underwriting/Credit to support underwriting profitability with focus on credit-worthiness of current and prospective clients

• Creation, maintenance, and enforcement of Credit Policies and Procedures, delegation of credit authority to the underwriting teams, and approval of any credit exposures above delegated authorities

• Establishment and confirmation of Obligor Risk Ratings (“ORR’s”) leveraged to assess credit risk on a consistent basis

• Consistent monitoring and review of credit exposure accumulations

• Collaboration with business unit management and Claims management to address potential emerging risks

The Vice President, Credit Officer will also manage and develop Credit Analysts responsible for performing detailed credit analyses on existing clients and new prospects, assigning internal obligor risk ratings and making recommendations for credit limits, along with credit terms and conditions, where appropriate.   The Vice President, Credit Officer and team will meet, or conduct conference calls with, underwriters, clients, and brokers as needed to understand and analyze the financial risks revolving around new and existing surety, trade credit, and political risk programs. He/she will also be involved in portfolio management of the ESU (Everest Specialty Underwriters) credit portfolio.  Special project due diligence involvement will be required on an as needed basis for opportunities like new MGU’s, Automatic Treaty Insurance Programs, and the World Bank/IFC’s Managed Co-lending Portfolio Program.

Clients range from privately owned, regional middle market contractors to public entities covering a diverse industry spectrum and sovereign entities around the globe.  Additional responsibilities include managing data integrity initiatives and developing system enhancements to better manage the credit portfolio.  

Qualifications include:

• MBA (finance or accounting preferred) 

• A minimum of 10 years of experience in corporate credit analysis, with knowledge of a broad range of industries preferred.  Prior training and supervisory experience.

• Completion of a Money Center Bank Credit Training program is a strong plus.

• Some construction or contracting credit analysis experience is important

• Strong accounting and financial statement analyses skills

• Strong communication, business writing and presentation skills 

• Strong Microsoft Excel skills

• Good Microsoft PowerPoint skills is a plus

Type:

Regular

Time Type:

Full time

Primary Location:

Warren, NJ

Additional Locations:

N/A