Vice President – Surety Underwriting

General Search & Recruitement Published: February 9, 2018
Location
Category
Job ID
Job-1162

Description

Vice President-Surety Underwriting

 

Chicago, IL

 

This client is a multi-billion dollar company with worldwide
interests in insurance and reinsurance.

 

They are a holding company providing (re)insurance on a
worldwide basis through its principal operating companies in Bermuda,
Stockholm, New York and London is ready to expand operations.

 

This rapidly growing client has two exciting
opportunities in our new Surety department to lead the development of
the business.

 

We are currently seeking a Vice President - Surety for
Chicago and for the U.S. Eastern Region.

 

The Vice President-Surety is responsible for producing,
underwriting, and managing a profitable portfolio of commercial surety
accounts, always mindful of the protection of the company’s policyholder’s
surplus.

 

They will be expected to create and maintain relationships
with key brokers and agents in their respective regions.

 

The ideal candidate will have the ability to exercise
independent judgment, make critical business decisions effectively, possess
great organizational skills, have strong interpersonal, communication and
negotiation skills and be able to effectively interact with all levels of
internal and external business partners.

 

Knowledge of surety bond forms and programs, procedures,
policy and rate plans are a must along with knowledge of specified territory
including agencies and brokers, accounts, competition and general business
climate.

 

RESPONSIBILITIES:


You  will underwrite and approve risks with appropriate pricing
through review & analysis of financials.


You will generate leads & independently develop business
relationships through industry networking, strong producer and client
interactions and participation in business unit functions and general marketing
visits.


You will demonstrate leadership skills by leading, developing &
motivating team members through our service and underwriting standards.


Prepare consistent and well thought out recommendations
and conclusions and escalate issues to management along with proposed solutions
as necessary. Negotiate with agents to reach positive and profitable outcomes.


You will market products and services through agencies or through
the brokerage community and make field visits. Develop and maintain agency
and/or broker relationships.


You will notify agencies of adverse underwriting decisions,
additional requirements, and declinations.


Keep current on state/territory issues and regulations,
industry activity and trends and freely share information with others.


You will determine what underwriting guideline changes are needed
by investigating and reporting on bond claims and losses. Maintain a watch list
of the regional portfolio as necessary.

 

Utilize advanced functionality in relevant company systems
to perform day-to-day activities.


Collaborate with senior surety management on risks
exceeding authority level or requiring special handling.

 

DESIRED QUALIFICIATIONS:


A Bachelor's Degree, or equivalent, and 7-15 years' surety
experience are required.


Holding an Associate in Fidelity & Surety Bonding
(AFSB) designation is beneficial.


Strong verbal, written and interpersonal communication
skills.


Adaptable underwriting and marketing skills.


Ability to be a team player but able to work
independently.


Technically competent in all standard business software
applications, including Excel, Word, PowerPoint.

 

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February 9, 2018