Senior Underwriter - US or Bermuda

Job description

**The Opportunity** The digital asset ecosystem is now a multi-trillion dollar market, and institutional adoption continues to outpace the insurance industry's ability to protect it. Only a small fraction of digital assets in custody are insured today. The gap is not a lack of demand. It is a lack of underwriting expertise, dedicated capacity, and products designed for the convergent risks of this sector. Soter was established to close that gap. We are a regulated specialty insurer, backed by Galaxy Digital, Further Ventures and Brevan Howard, with underwriting operations in Bermuda, London & Dubai. We write institutional-grade coverage across multiple lines and we do it in the currency of the risk: our policies can be issued in USD, BTC and ETH denominated segregated accounts, aligning our capital and reserves with our policy obligations. The United States is one of the largest addressable markets and the next stage of Soter's growth. We are looking for a Senior Underwriter to own our US book across all six lines: to lead complex risks, develop broker relationships across the US market, and help shape how Soter distributes and prices coverage for US domiciled custodians, exchanges, trading firms, staking providers, asset managers and the traditional financial institutions moving into digital assets. This is a lead underwriting seat, not a support role. You will hold your own authority, referral to the Head of Underwriting above it, and you will be expected to make and defend decisions on risks that have no historical loss data and no market precedent. **What You Will Do** - **Lead underwriting across six lines** - **Own the US distribution and pipeline.** Lead new business and renewal underwriting for US domiciled digital asset clients across D&O, PI/E&O, Crime, Specie/Custody, Slashing/Staking and Cyber, from first submission through to bind. - **Exercise authority.** Quote, negotiate and bind within delegated authority, prepare clear and well-evidenced referrals above it, and contribute to Underwriting Committee decisions. - **Underwrite the technology, not just the balance sheet.** Assess custody architecture (MPC, HSM, multi-sig), key management and access controls, smart contract audit coverage, validator operations and slashing exposure, governance and compliance culture. Reach conclusions a CTO would respect. - **Structure bespoke and innovative solutions.** Design multi-line and hybrid-currency programmes (USD, BTC, ETH) for clients whose exposures do not fit standard products, including per-wallet custody structures and captive or mutual arrangements. - **Build the US market** - **Broker relationships.** Develop and maintain relationships with the digital asset and FI practices of the major US brokers and the specialist wholesale and retail intermediaries active in the space. - **Distribution and paper.** Support the development of US distribution, including fronting and programme partnerships, and understand the practical mechanics of surplus lines placement, fronting arrangements and reinsurance behind them. - **Market voice.** Represent Soter with clients, brokers, auditors and conference audiences. Contribute to thought leadership that positions Soter as the reference point on digital asset risk in the US. - **Wordings, pricing and portfolio** - **Wordings.** Draft, negotiate and approve endorsements and manuscript amendments. Review broker and competitor forms and identify coverage gaps, silent exposures and drafting risk. - **Pricing.** Work with the Lead Pricing Actuary to apply and refine Soter's pricing models, challenge assumptions where market evidence differs, and document rationale. - **Portfolio discipline.** Manage aggregation, correlation across lines and counterparties, and exposure to shared infrastructure (custodians, chains, oracles). Contribute to portfolio reporting for the Underwriting Committee and Board. - **Due diligence and compliance.** Complete client risk assessments (CRA/KYC) and sanctions, PEP and adverse media screening in line with Soter's framework and Bermuda requirements. - **Team** - **Mentor.** Coach and develop our underwriting team and set the standard for submission workup, referral quality and file documentation. - **Improve the process.** Contribute to underwriting guidelines, SOPs and Soter's AI-assisted underwriting tooling. Bring a builder's mindset to a lean team. **What you Bring** - **Required** - **Proven specialty underwriting.** 7 or more years in specialty or commercial lines underwriting/broking, including at least 3 years in Financial Lines (D&O, E&O, Crime) or Specie, with demonstrable personal authority and a track record of profitable results. - **Wordings fluency.** Hands-on experience drafting and negotiating policy wordings and endorsements. Relying solely on pre-agreed carrier forms is not sufficient for this role. - **Product development.** Direct involvement in building or materially reshaping an insurance product, programme or facility. - **US market knowledge.** Working knowledge of the US specialty market: surplus lines, fronting structures, the major broker houses and how digital asset risks are currently placed. - **Digital asset literacy.** Genuine understanding of custody models, exchange and trading operations, staking and validator economics, DeFi protocols and the regulatory picture for digital asset firms in the US. Evidenced by work, study or credible independent research. - **Technical credibility.** Able to hold a substantive conversation with a CTO, a security auditor or a regulator and reach an independent view. - **Judgement under uncertainty.** Comfortable underwriting risks with limited loss history, and disciplined about documenting the reasoning. - **Communication.** Clear, precise written work. Referral memos and broker correspondence that a Board member or a reinsurer can follow. - **Preferred** - Familiarity with the Bermuda regulatory framework (BMA) or other regulated reinsurance or specialty markets. - Cyber underwriting experience, including assessment of SOC 2, penetration testing and incident response maturity. - Professional designations such as CPCU, RPLU, ARe or equivalent. - Ability to use data tools, scripting or AI assistants to work faster and more accurately. - Existing relationships in the US digital asset and FI broking community. **How We Work** Soter is a small, senior team. Decisions are made quickly and everyone is close to the risk. You will work across time zones with colleagues in Bermuda, London, Dubai and New York, and you will have direct access to the executive team and Board. We value precise thinking, plain language and people who take ownership of outcomes rather than process. **The role is hybrid from our New York or Bermuda office or remote within the United States**, with travel to client and broker meetings, industry events and periodically to Bermuda and London.