Director of Business Development at UFP Industries

Grand Rapids, Michigan, United States

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Bachelor’s degree in Business, Risk Management, or related field; MBA or CPCU designation preferred
10+ years of experience in E&S Property & Casualty insurance, with a strong track record in business development or distribution leadership
Deep understanding of wholesale brokerage networks and E&S market dynamics
Proven ability to develop and execute strategic growth plans
Exceptional communication, negotiation, and relationship-building skills
Strong analytical and problem-solving capabilities
Strategic thinker with a growth mindset
Collaborative leader who thrives in a fast-paced, entrepreneurial environment
Ability to anticipate market shifts and adapt strategies accordingly

Responsibilities

Identify new market opportunities, cultivate broker relationships, and develop innovative solutions to meet the needs of distribution partners
Design and implement underwriting strategies aligned with the company’s growth and profitability objectives
Lead, coach, and mentor Underwriters to drive performance, professional development, and adherence to best practices
Foster a culture of accountability, collaboration, and continuous improvement
Analyze market trends and emerging risks to identify opportunities for niche programs, specialized coverage forms, and partnerships with Designated Underwriting Authority Enterprises (DUAEs)
Review and approve underwriting authority requests, ensuring compliance with company standards and regulatory requirements
Oversee customer service for distribution partners, ensuring accurate and efficient service expectations are met
Maintain oversight of delegated authority and ensure proper controls are in place
Conduct regular underwriting audits to assess adherence to guidelines, pricing adequacy, and overall portfolio quality
Implement corrective actions and process improvements based on audit findings to enhance underwriting discipline and profitability

Skills

Key technologies and capabilities for this role

Business DevelopmentUnderwritingE&S Property & Casualty InsuranceWholesale BrokerageRisk ManagementStrategic PlanningNegotiationRelationship BuildingMarket AnalysisAuditingLeadershipCoaching

Questions & Answers

Common questions about this position

What experience is required for the Director of Business Development role?

Candidates need a Bachelor’s degree in Business, Risk Management, or related field (MBA or CPCU preferred), plus 10+ years in E&S Property & Casualty insurance with a strong track record in business development or distribution leadership.

What key skills are needed for this position?

The role requires deep understanding of wholesale brokerage networks and E&S market dynamics, proven ability to develop and execute strategic growth plans, exceptional communication, negotiation, and relationship-building skills, and strong analytical and problem-solving capabilities.

What is the salary or compensation for this role?

This information is not specified in the job description.

Is this a remote position, or is there a location requirement?

This information is not specified in the job description.

What does the company culture look like for this role?

The role involves fostering a culture of accountability, collaboration, and continuous improvement, in a fast-paced, entrepreneurial environment.

UFP Industries

Manufactures and distributes construction and packaging products

About UFP Industries

UFP Industries operates as a diversified holding company with several subsidiaries, including UFP Packaging, UFP Construction, and UFP Retail Solutions. The company manufactures, distributes, and sells a wide range of products for various markets, including residential and commercial construction, packaging, and industrial sectors. Its products are tailored to meet the specific needs of clients across North America, Europe, Asia, and Australia. UFP Industries stands out from its competitors by leveraging its extensive operational footprint and expertise to serve a diverse clientele, ensuring consistent revenue from multiple geographic regions and industry segments. The company's goal is to effectively meet the diverse needs of its customers while maintaining a steady income stream.

Muscle Shoals, AlabamaHeadquarters

1955Year Founded

IPOCompany Stage

Industrial & Manufacturing, Consumer GoodsIndustries

1,001-5,000Employees

Risks

Rising lumber costs could impact UFP's profit margins.

Construction slowdown due to high interest rates may reduce UFP's revenue.

Stricter European environmental regulations could increase UFP's compliance costs.

Differentiation

UFP Industries operates globally, serving diverse sectors like construction and packaging.

The company leverages a broad operational footprint to meet varied client needs.

Recent acquisitions, like C&L Wood Products, expand UFP's market reach and capabilities.

Upsides

Growing demand for sustainable packaging boosts UFP's eco-friendly product development.

E-commerce growth increases demand for UFP's packaging solutions.

Urbanization trends drive demand for UFP's residential and commercial construction products.

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