Director, Insurance Credit Risk

Overview

This role is a senior individual contributor position responsible for underwriting, assigning internal credit ratings to, and monitoring an assigned portfolio of life, health, and property and casualty insurance company members. The work supports sound credit decisions that enable reliable liquidity for member financial institutions and helps meet affordable housing and economic development needs.

Responsibilities

• Evaluate insurance company creditworthiness by analyzing:
  • Statutory and U.S. GAAP financial statements
  • Regulatory filings
  • Capital adequacy
  • Reserves
  • Liquidity
  • Reinsurance arrangements
  • Business performance
• Assess investment portfolio risk by evaluating:
  • Asset quality and composition
  • Concentrations
  • Duration
  • Liquidity
  • Exposure to changing market conditions
• Develop clear credit recommendations by preparing credit memoranda that explain:
  • Financial condition
  • Key risks
  • Mitigating factors
  • Internal rating rationale
  • Recommended credit structure
• Monitor the assigned portfolio by identifying material changes in:
  • Financial condition
  • Regulatory status
  • Market exposure
  • Collateral risk
  • Borrowing capacity
  • Overall credit quality
• Translate industry developments into risk insights by tracking:
  • Insurance regulation
  • Accounting standards
  • Interest rates
  • Asset valuations
  • Credit spreads
  • Reinsurance markets
  • Produce sector reviews and exposure analyses to inform portfolio surveillance and risk appetite discussions
• Support credit governance by:
  • Presenting conclusions to senior management and approval committees
  • Maintaining complete analytical documentation
  • Escalating material deterioration, covenant concerns, policy exceptions, and matters beyond delegated authority
• Serve as a technical resource by advising internal partners on insurance credit risk, underwriting methodologies, statutory accounting, reinsurance, and capital adequacy, and providing technical guidance or analytical review when requested

Requirements

• Bachelor’s degree in finance, accounting, economics, business administration, or a related field, or equivalent relevant experience
• At least 10 years of progressively responsible experience in one or more of the following:
  • Credit analysis
  • Underwriting
  • Financial analysis
  • Insurance company analysis
  • Financial institution risk management
  • Regulation
  • Credit ratings
• Substantial direct experience assessing insurance company creditworthiness, including assessment of:
  • Statutory and GAAP financial statements
  • Regulatory filings
  • Capital measures
  • Investment portfolios
  • Reserves
  • Liquidity
  • Reinsurance
• Strong knowledge of insurance regulation, statutory accounting, GAAP reporting, and credit rating methodologies
• Experience preparing and presenting complex credit recommendations to senior approval authorities, governance committees, or equivalent decision-makers
• Strong analytical and financial writing skills, including the ability to translate complex information into clear credit conclusions and actionable recommendations
• Sound independent judgment and the ability to critically evaluate assumptions and evidence
• Proficiency with market data, credit risk platforms, and advanced Excel, including the ability to manage multiple complex reviews independently

Compensation & Benefits

• Annual base salary: $157,500–$183,500
• Work from anywhere in the U.S. for six weeks annually: four personal weeks and two Bank designated weeks
• Medical, dental, vision, and mental health support
• 401(k) with company match, life insurance, and disability coverage
• Vacation, sick leave, holidays, wellness, and volunteer days
• Backup care for children, elders, and pets, plus medical, parental and family leave
• Annual wellness and technology stipends, a transit subsidy, and pretax transit and parking benefits

Location

Work from anywhere in the U.S. (with six weeks annually work-from-anywhere allowed as described above).