Senior Surety Underwriter

$73,700 - $192,500/Yr

Liberty Mutual - Warrenville, IL

Full-time

Warrenville, IL

Insurance Carriers and Related Activities

About the position

Liberty Mutual Surety is currently seeking a Senior Surety Underwriter to join our Warrenville Commercial Transactions team. In this role, you will be responsible for developing and underwriting profitable surety business while servicing independent agents, brokers, and commercial transaction accounts within your assigned territory. Your excellent relationship skills will be crucial as you build and maintain positive partnerships with our agents, brokers, and accounts, acting as a trusted advisor and underwriting resource. You will leverage your business and financial acumen to perform primary credit underwriting and financial/risk analysis, providing recommendations and making decisions on both new and existing accounts. This position offers an excellent opportunity for an experienced and self-motivated surety professional looking to advance their career with a leading surety company that prioritizes its employees and customers. Liberty Mutual Surety, a division of Liberty Mutual Insurance, is recognized as the world's largest surety provider, including in the United States. We conduct business globally through fronting relationships and Liberty-owned subsidiaries, offering bonds in over 60 countries for construction firms, manufacturers, suppliers, and commercial enterprises on both account and transactional bases. Our commitment lies in building mutually profitable relationships by providing smart business solutions, ease of doing business, and consistent, responsive service. We are dedicated to the communities we serve and highly value a diverse workforce across more than 18 countries.

Responsibilities

• Underwrite and negotiate accounts to maximize profitability while minimizing risk, including the most complex accounts based on the level of role.
• Manage the profitability and retention of an assigned book of business while developing the portfolio through strong relationships and active engagement with new and existing agents and brokers.
• Perform analytical evaluations of financial statements on both a static and trend basis, determining the present and historical financial position of accounts.
• Stay abreast of Liberty Mutual Surety and Global Risk Solutions product lines and identify/promote opportunities with agents and brokers, leveraging domestic and global capabilities.
• Investigate, analyze, and manage all necessary underwriting/accounting/workflow issues within the framework of Surety policies and procedures.
• Assess and identify changes in all aspects of the business, including work program to financial strength criteria and exposure analyses, coordinating issues with Home Office Underwriters and Field Management.
• Assist in evaluating business continuity arrangements and funding mechanisms to preclude financial drain of customers in the event of an insurable loss.
• Mentor more junior staff based on level of experience.
• Perform special projects and other duties as assigned.

Requirements

• Bachelor's degree in Finance, Accounting, or equivalent.
• A minimum of 5 years of experience expected, preferably 7 or more years of surety underwriting experience and/or equivalent surety-related business experience.
• Strong preference for experience with the Commercial Transaction Surety product line.
• Solid understanding of financial and accounting principles with the ability to demonstrate sound business judgment in evaluating financial conditions and credit history.
• Proven analytical ability to evaluate and judge surety underwriting risks within the scope of responsibility.
• AFSB certification preferred.
• Strong ability to communicate complex analyses and information in understandable written and/or oral directives for underwriting or training purposes.
• Strong communication and interpersonal skills.
• Excellent organizational skills and attention to detail.

Nice-to-haves

• Experience in a leadership or mentoring role within underwriting teams.
• Familiarity with global surety practices and regulations.

Benefits

• Comprehensive health insurance coverage.
• 401(k) retirement savings plan with company matching contributions.
• Paid time off and holidays.
• Tuition reimbursement for further education.
• Professional development opportunities and training programs.