Director, Compliance (Surety)

Travelers; Toronto; On-site; CAD 70,000 - 110,000; Full time

Job summary

An established industry player is seeking a dedicated Underwriting Manager to oversee and enhance compliance and operational strategies. In this pivotal role, you will manage underwriting guidelines, conduct audits, and collaborate with various departments to ensure adherence to standards. Your expertise in risk assessment and auditing will be crucial in developing reports for senior management and supporting compliance initiatives. Join a vibrant team committed to excellence and make a significant impact in a supportive environment that values your contributions and fosters professional growth.

Benefits

Health Insurance

Retirement Contributions

Paid Time Off

Wellness Program

Volunteer Rewards

Qualifications

• 8+ years of experience in business, insurance, risk management, or audit.
• Thorough knowledge of risk assessment and auditing principles.

Responsibilities

• Manage and monitor underwriting guidelines and controls for compliance.
• Conduct training programs to enhance organizational skills and compliance.

Skills

Risk Assessment

Auditing Principles

Surety Underwriting

Financial Analysis

Microsoft Word

Microsoft Excel

Communication Skills

Decision-Making Skills

Education

Bachelor’s Degree

Tools

Microsoft Outlook

Job description

Who Are We?

Solid reputation, passionate people, and endless opportunities—that’s Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers—and opportunities for our employees. You will find Travelers to be full of energy and a workplace where you can truly make a difference.

Job Category: Underwriting

Target Openings: 1

What Is the Opportunity?

Manage and monitor the design and execution of underwriting guidelines and controls for the Travelers Canada Businesses to ensure compliance and alignment with Corporate Underwriting standards.

What Will You Do?

1. Execute or assist in managing, developing, and executing the underwriting audit functions, including updating policies, participating in audits, scheduling, leading audits, compiling reports, selecting audit teams, reperformance, and assisting with corrective actions.
2. Assess or assist with underwriting controls, evaluate potential impacts of deficiencies, and recommend corrective actions.
3. Prepare or assist in preparing reports for Senior Management and other reports required by Business Unit Underwriting Standards and enterprise functions such as SOX compliance, underwriting authority, legal compliance, and system access.
4. Develop monitoring reports highlighting key developments and recommending corrective actions.
5. Support collateral management, record retention, confidentiality agreements, and other compliance and operational strategies.
6. Continuously assess underwriting controls for effectiveness, efficiency, and best practices; implement improvements and monitor controls with ownership assigned.
7. Collaborate with Underwriting Management to create and maintain Authority Letter Templates, ensuring adherence to guidelines and maintaining signed copies for audits.
8. Serve as a point of contact for underwriting audit-related matters with Business Units, Compliance, Regulators, and other key functions.
9. Anticipate future operational needs and communicate with senior management; support compliance and strategic improvements.
10. Conduct training and awareness programs to enhance organizational skills and compliance.
11. Build and lead a high-performing, engaged team by defining talent needs, nurturing potential, and providing coaching and mentorship.
12. Lead inclusively, manage change effectively, and exemplify best practices.
13. Perform other duties as assigned.

What Will Our Ideal Candidate Have?

• Thorough knowledge of risk assessment, technology, and auditing principles.
• General understanding of policies, procedures, and best practices to encourage compliance.
• Subject Matter Expertise in key duties.
• Experience in surety business underwriting.
• Prior audit experience.
• Knowledge of legal environment affecting insurance operations.
• Advanced knowledge of surety underwriting, including financial analysis, risk assessment, invoicing, reinsurance, and monitoring.
• Intermediate proficiency in Microsoft Word, Excel, and Outlook.
• Exceptional attention to detail, communication, influencing, and decision-making skills.

What Is a Must Have?

• Bachelor’s degree.
• Minimum of 8 years of experience in business, insurance, risk management, or audit.

What Is in It for You?

• Health Insurance: Coverage from day one for employees and eligible family members.
• Retirement: Core contribution of 3% to DPSP plus matching contributions up to 5% of base pay.
• Paid Time Off: Starting at 20 days PTO plus opportunity to purchase additional days, plus 12 paid holidays.
• Wellness Program: Resources and tools to support wellness and mental health, including counseling services.
• Volunteer Encouragement: Matching Gift and Volunteer Rewards programs to support community involvement.

Employment Practices

Travelers is an equal opportunity employer. We value diversity and are committed to providing accommodations during the recruitment process. For questions about physical requirements, contact us via email. We may fill this position at a level above or below the posted level. For more information on our benefits, visit our benefits page.