Contract Surety Underwriter
Company: Liberty Mutual Insurance
Location: Sacramento
Posted on: May 15, 2022
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Job Description:
Advance your Underwriting career at Liberty Mutual Insurance- A
Fortune 100 Company!Liberty Mutual Surety--- is currently
recruiting for a Surety Underwriter to join our Surety Plus team in
Sacramento, CA.As a Surety Underwriter you will market, underwrite,
and service independent agents, brokers, and small to middle sized
contract surety accounts within an assigned territory. Using your
excellent rapport building skills, you will build and maintain
positive relationships and will market to your territory focusing
on relationship building rather than transactional sales. You will
also use your business and financial acumen to perform primary
credit underwriting and financial/risk analysis, provide
recommendations, and make decisions on new and existing accounts.
This is an excellent opportunity for an experienced and
self-motivated surety professional looking to grow their career
with a top surety company that focuses on its employees and
customers first.Liberty Mutual Surety, a business unit of Liberty
Mutual Insurance, is the Surety in the United States and the
largest globally. Conducting business worldwide through fronting
relationships and Liberty-owned subsidiaries, we provide bonds in
over 60 countries for construction firms, manufacturers and
suppliers, and commercial enterprises on an account and
transactional basis. We are committed to building mutually
profitable relationships by providing smart business solutions,
ease of doing business, and consistent, responsive service. Liberty
Mutual Surety is dedicated to the communities we serve and highly
values a diverse workforce in more than 16
countries.Responsibilities:Meets with agents and brokers from
assigned customer base/territory to solicit business/submissions
via marketing efforts and educate agency representative(s) on
Liberty Mutual Surety policies, procedures, appetite, and
requirements. Act in a consultative capacity and discuss/review
agency accounts and performance.Underwrites new and existing
account submissions utilizing underwriting authority granted by
Chief Underwriting Officer. May handle most complex accounts based
on level of role. Makes thorough evaluations and assessments of a
customer's financial, technical, organizational, and management
capacities, past experience, desired objectives as well as a
subjective judgment of character, normally based upon
data/insights. In many cases, will meet with client to facilitate
above assessments.Performs analytical evaluations of financial
statements on both a static and trend basis. Determines the present
and historical financial position of the account and monitors
financial position of risk through analysis of quarterly statements
and work in progress data as appropriateDevelop/maintain strong
relationships with agents/brokers and oversee a book of Contract
Surety business within defined territory. Meets production,
marketing, and profitability goals as set by manager and assist in
developing marketing plan.Stay abreast of Liberty Mutual Surety
product lines and identify cross-selling opportunities with agent,
engaging/referring appropriate parties as necessary.Responsible for
investigation, analyzing, and managing all necessary
underwriting/accounting/workflow issues, within framework of Surety
policies and procedures.Monitor an existing book of business from
an underwriting standpoint. Continuously evaluates the qualitative
characteristics of the business (new and existing) as assigned.
Examples include utilization of self-audit programs, financial
ratio analysis report. Makes recommendations to Manager for proper
lines of authority to be submitted to Home Office. Monitors and
controls utilization of such lines to ensure compliance with
guidelines.May assess and identify changes in all aspects of the
business including, but not limited to, work program to financial
strength criteria, nature of work performed (inherent risk),
accuracy and timeliness of data flow, and exposure analyses.
Coordinate and surface issues to more Home Office staff and Bond
ManagersAssists in the evaluation of business continuity
arrangements and funding mechanisms (such as adequacy of life
insurance) to preclude financial drain of customer in the event of
the demise of (an) owner or other insurable loss.In connection with
credit recommendations which tend to fall outside of normal
underwriting standards, applies sound reason and business logic to
reach decision as authorized. Effectively documents such logic in
file and communicates to more senior Home Office and Field
underwriting staff, as necessary.Provide direction for topics to be
addressed in meetings with agents, customers and others, as
necessary.Prepare and implement instructions for administering work
flows and accounting/billing issues to service unique
situations.May mentor more junior staff based on level.Performs
special projects and other duties as assigned.Bachelor's degree in
Finance, Accounting or equivalent and a minimum of 3 years'
experience expected, preferably 7 or more years' surety
underwriting experience and/or equivalent surety related business
experience . Strong preference with the Contract Surety product
line.Solid understanding of financial and accounting principles and
the ability to demonstrate sound business judgment in the
evaluation of the financial condition, credit history, and
character of contract accounts.Proven analytical ability to
evaluate and judge underwriting risks within scope of
responsibility.AFSB certification preferredDemonstrates strong
ability to communicate complex analyses and information in
understandable written and/or oral directives for underwriting or
training purposes.Demonstrates strong communication and
interpersonal skills in dealing with agents, brokers, CPAs,
bankers, attorneys, etc. required to build & maintain good business
relationships.Excellent organizational skills as well as attention
to detail.Salary and level based on experience and location.At
Liberty Mutual, our purpose is to help people embrace today and
confidently pursue tomorrow. That's why we provide an environment
focused on openness, inclusion, trust and respect. Here, you'll
discover our expansive range of roles, and a workplace where we aim
to help turn your passion into a rewarding profession. We value
your hard work, integrity and commitment to make things better, and
we put people first by offering you benefits that support your life
and well-being. To learn more, please visit Liberty Mutual has
proudly been recognized as a "Great Place to Work" by Great Place
to Work - US for the past several years. We were also selected as
one of the "100 Best Places to Work in IT" on IDG's Insider Pro and
Computerworld's 2020 list.We have been named by Forbes as one of
America's Best Employers for Women and one of America's Best
Employers for New Graduates-as well as one of America's Best
Employers for Diversity. To learn more about our commitment to
diversity and inclusion please visit: Liberty Mutual is an equal
opportunity employer. We will not tolerate discrimination on the
basis of race, color, national origin, sex, sexual orientation,
gender identity, religion, age, disability, veteran's status,
pregnancy, genetic information or on any basis prohibited by
federal, state or local law.Bachelor's Degree16
Keywords: Liberty Mutual Insurance, Sacramento , Contract Surety Underwriter, Other , Sacramento, California
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