Underwriter: Multilife Underwriting

Job Description:

Position Overview

The Multilife Underwriter will be responsible for underwriting Multilife (Executive Benefits) life insurance, primarily serving the Employer Owned and Employer sponsored marketplace. This role will require experience with Simplified Issue (SI) and Guaranteed Issue (GI) underwriting. In addition, this underwriter will have opportunities to deepen knowledge of financial underwriting related to employer financials and strength. It will be critical to uphold product utilization guidelines with respect to amounts of purchase, funding sources and overall appropriateness of design. There will be extensive engagement with the Director of Multilife Underwriting to collaborate with product management and distribution teams as we work towards Multilife rollout in September 2025.

We’ve embraced a flexible, hybrid approach to work. Based on your role and personal preference, we empower you to choose where you work best. This model allows you to balance your life and bring your whole self to work.

Responsibilities

• Adhere to current Penn Mutual underwriting risk management practices and established guidelines, internally and as established through reinsurance partners.
• Follow Standard Operating Procedures (SOPs) for Multilife underwriting
• Support Director of Multilife Underwriting, strengthen skills as Subject Matter Expert (SME) in Multilife underwriting, financial underwriting, understanding regulations, rules and nuances related to:
• o Corporate Owned Life Insurance (COLI)
• o Corporate Sponsored Individually Owned Life Insurance (CSIO, includes Split Dollar, 162 Bonus).
• Serve as a collaborative partner within Operations and Distribution in support and review of Multilife opportunities.
• Up to approval authority: determines whether to accept, modify, or decline a case (risk) or present for business exception
• Submits evaluation and recommendation to Director Multilife Underwriting on exception requests when outside of established parameters or approval authority
• Create Underwriting Offers (also known as Concession letters), memorializing Penn Mutual’s review of case design, census and other parameters for all parties
• Helps to maintain profitable mortality experience and retention
• Communicates and collaborates within Multilife Operations and with internal distribution
• Maintains positive and effective relationships with internal and external

Skills and Abilities

• Working knowledge of Multilife (Executive Benefits), specifically SI and GI
• Awareness of Multilife plan designs and product uses
• Desire to learn and increase knowledge and skill set
• General awareness of current affairs, industry issues and trends, both corporate and external.
• Basic understanding of reinsurance, financial and non-financial underwriting factors.
• Strong organizational, communication and interpersonal skills.
• Ability to identify, research and resolve problems
• Excellent knowledge of mainframe and PC environment.
• Ability to create and maintain customer relationships.
• Ability to prioritize and work effectively under deadlines balancing published service times with an appropriate customer focus.
• Ability to comprehend, retain and apply current technical information to daily work issues.
• Ability to make a positive contribution as demonstrated by learning new skills and making suggestions for process/procedure improvement.
• Ability to work with others in a collaborative team environment.

Education

• College degree preferred although equivalent work experience in life Underwriting may be considered.

Experience

• 3-5 Years life underwriting experience in Executive Benefits (preferred), Multilife or Group Life Insurance
• experience working in life insurance, examples such as sales, case design, new business or service
• Demonstrated familiarity with basic regulatory requirements in Multilife/Executive Benefits
• Experience with Financial Underwriting

Licenses

• FLMI, ALU, FALU and ACS designations or current coursework towards earning certificates

Base Salary Range - $70,000 - $100,000

For over 175 years, Penn Mutual has empowered individuals, families and businesses on the journey to achieve their financial goals. Through our partnership with Financial Professionals across the U.S., we help instill the confidence and reliability that comes from a stronger financial future. Penn Mutual and its affiliates offer a comprehensive suite of competitive products and services to meet the unique needs of Financial Professionals and their clients, including life insurance, annuities, wealth management and institutional asset management. To learn more, including current financial strength ratings, visit www.pennmutual.com.

Penn Mutual is committed to Equal Employment Opportunity (EEO). We provide employment and advancement opportunities to all qualified applicants and associates, according to applicable laws. This is reflected in our practices for hiring, placement, promotion, transfer, demotion, layoff, termination, recruitment, compensation, selection or training, and all other terms and conditions of employment. All employment-related decisions and practices are free from unlawful discrimination. This includes: race, creed, color, national origin, ancestry, citizenship age, gender (including pregnancy), sexual orientation, gender identity or expression, domestic partnership or civil union status, marital status, genetic information, disability, religious observance or practice, liability, veteran status or any other classification protected under applicable law.