Commercial Surety Underwriter, (Account Executive or AVP)

$90,000 - $165,000/Yr

Zurich Insurance - Philadelphia, PA

Full-time - Mid Level

Remote - Philadelphia, PA

1,001-5,000 employees

Insurance Carriers and Related Activities

About the position

Zurich North America is seeking a Commercial Surety Underwriter (Account Executive or AVP Level) to join our Commercial Surety team in the Mid-Atlantic region. This position can be based out of our Philadelphia, PA office or can be performed virtually within the State of PA or Southern NJ. The Commercial Surety Underwriter role is a uniquely technical position within the underwriting field, responsible for the overall account management, business development, and analysis of a complex portfolio of Commercial Surety Accounts. The ideal candidate will possess a positive attitude, a strong financial background including credit analysis, excellent communication and presentation skills, and the ability to manage time effectively while honing negotiation skills. Underwriters will utilize the Zurich Way of Underwriting Framework within delegated authority levels on complex assignments, ensuring high-level service to customers. This position offers a great opportunity for an experienced Commercial Surety Underwriter to leverage their analytical skills and entrepreneurial spirit, while developing and maintaining relationships with brokers and customers in the West region to write profitable business. The role will be filled at either the Account Executive (5T level) or AVP (6T level), with the hiring manager determining the appropriate level based on the selected applicant's experience and skillset relative to the qualifications listed for this position.

Responsibilities

• Proactively seek renewal and new account opportunities.
• Qualify accounts to align with the organization's appetite while balancing sound business opportunities.
• Negotiate Terms & Conditions and close deals.
• Cross-sell other lines of business to increase product density with the account.
• Update required systems with details of broker/client visits and account status within specified time frames.
• Calculate Target Price accurately by utilizing underwriting tools appropriately.
• Diagnose and develop recommendations to solve unique business unit and customer problems.
• Demonstrate specialized knowledge and expertise in products and industry.
• Administer and monitor underwriting rules and guidelines, insurance laws and regulations, and rating manuals.
• Work at the highest authority limits on assignments utilizing the highest degree of technical complexity and coordination.

Requirements

• High School Diploma or Equivalent and 3 or more years of experience in the Insurance or Market Facing area, Finance, Accounting, Banking experience.
• High School Diploma or Equivalent and 6 or more years of experience in the Claims or Underwriting Support area.
• Zurich approved Apprenticeship program including an Associate Degree and 1 or more years of experience in the Insurance or Market Facing area, Finance, Accounting, Banking experience.
• Zurich approved Apprenticeship program including an Associate Degree and 4 or more years of experience in claims or underwriting support area.
• Knowledge of legal and regulatory guidelines.
• Knowledge of Microsoft Office.
• Experience working under deadlines.
• Experience working in a fast-paced team environment.

Nice-to-haves

• Bachelor's Degree.
• Surety knowledge/experience and knowledge of the legal and regulatory guidelines.
• Understanding of the structure of broker relationships.
• Ability to analyze and understand complicated credit assessments, trends, and strategies.
• Investigative skills (curiosity) to develop an understanding of business strategies, trends, complex contracts, assessment of long-term obligations and organizational character.
• Ability to coherently articulate these strategies and financial concepts, formulating fact-based conclusions and recommendations.
• Prior experience managing/growing a profitable portfolio of customers.
• Negotiation experience with brokers and large, international, and national organizations.
• Strong verbal and written communication skills.

Benefits

• Comprehensive employee benefits package for employees and eligible dependents.
• Competitive compensation including short term incentive bonuses and merit increases.