Underwriter / Junior Underwriter Credit & Surety

MINDFREE Consulting | Insurance Talent Hub; Riyadh; On-site; SAR 150,000 - 200,000; Full time

Job summary

A leading insurance consulting firm in Riyadh is seeking a Junior Underwriter for Credit & Surety lines of business. The role involves underwriting, financial analysis, and risk assessment focusing on the construction industry. Candidates should possess a Bachelor's degree in Accounting or Finance as well as 2-8 years of relevant experience. Strong analytical and commercial judgment skills are essential for success in this position, offering a chance to grow under the guidance of senior underwriters.

Qualifications

• 2-8 years of experience in corporate credit analysis.
• Experience preferably within a bank or lending institution.
• Strong analytical skills with sound commercial judgment.

Responsibilities

• Assist in underwriting new and renewal business for surety and trade credit products.
• Conduct detailed financial statement analysis to evaluate creditworthiness.
• Monitor existing surety and trade credit portfolios.

Skills

Analytical skills

Commercial judgment

Credit analysis

Education

Bachelors Degree in Accounting or Finance

Job description

About the job Underwriter / Junior Underwriter Credit & Surety

Job Title: Underwriter / Junior Underwriter Credit & Surety
Education: Bachelors Degree in Accounting or Finance
Experience: 2-8 years of experience in corporate credit analysis, preferably within a bank or lending institution

The Junior Underwriter will support the underwriting and portfolio management of the Surety Bonds (80%) and Trade Credit (20%) lines of business. The role includes financial analysis, credit risk assessment, and evaluation of counterparties, with a strong focus on the construction industry. The ideal candidate will demonstrate strong analytical skills, sound commercial judgment, and a proactive approach to underwriting and client servicing.

Key Responsibilities

Underwriting & Risk Assessment

• Assist in underwriting new and renewal business for surety and trade credit products in line with company guidelines and risk appetite.
• Conduct detailed financial statement analysis of contractors, corporates, and project owners to evaluate creditworthiness.
• Assess risk exposures related to performance bonds, advance payment bonds, bid bonds, and other surety instruments.
• Support trade credit underwriting by evaluating buyer limits, payment behavior, and credit information.
• Prepare underwriting submissions and recommendations for approval by senior underwriters and management.
• Review contract terms, project information, and bond wordings to identify and mitigate potential risks.
• Monitor existing surety and trade credit portfolios, including limit utilization, financial updates, and overdue exposures.
• Maintain accurate underwriting files and ensure compliance with internal policies, regulatory requirements, and audit standards.
• Assist in preparing reports on portfolio performance, loss ratios, and market trends.
• Collaborate with senior underwriters to learn underwriting practices, pricing models, and risk assessment methodologies.
• Participate in internal training and professional development programs related to underwriting, credit risk, and insurance law.