Commercial Underwriting Associate

Merchants Bonding Company; West Des Moines (IA); On-site; USD 42,000 - 54,000; Full time

Job summary

Merchants Bonding Company in West Des Moines, IA is seeking a Commercial Underwriting Associate to provide administrative and office support to commercial surety underwriters. You will assist in bonding processes, billing, and client service while interacting with independent agents.

The role supports underwriters on underwriting issues, documentation, compliance, and billing, with duties including notary tasks, diary setups, and processing changes to bonds.

Qualifications

• High School Diploma or equivalent plus 0-4 years of work experience in commercial bond underwriting and/or a commercial bond department.

Responsibilities

• Billing Processing: enters new billings into the database and sets up billing for bonds.
• Documentation and Underwriting Support: processes cancellations, rider changes, and supports underwriting issues.
• Agent and Client Service: notifies agents of underwriting requests and creates/maintains website records for new accounts and bond status.

Education

High School Diploma or equivalent

Job description

Job Purpose:The Commercial Underwriting Associate performs administrative and office support activities for Commercial Surety underwriters. This position assists in the process of writing new bonds and canceling or adjusting existing bonds. The Associate also interacts with independent insurance agents to provide client service.Job Responsibilities:Billing ProcessingEnters new billings into the database.Enters and/or orders new bonds.Calculates premiums on bonds.Sets up billing for bonds. Compiles all information associated with a bond, validates that the bond has been approved either by a line of credit or an underwriter, and processes billings daily.As requested, may file Texas notary bonds.Documentation and Underwriting SupportProcesses cancellations of and termination changes on existing bonds; reinstates cancelled items.Processes simple adjustments of existing bonds by rider, including increased and decreased bond amounts, date, general information, and address changes.Processes items from the approval list.Processes FCRA letters.Indexes new tasks in the underwriting queue.Prepares legal documents, including General Indemnity Agreement.Sets up diaries.Processes transfers and cancellations of the books of business for closed or delinquent agents.Attends and participates in staff meetings as scheduled.Supports underwriters on underwriting issues, documentation, compliance, and billing.Agent and Client ServiceUsing an imaging workflow system, determines those items that need to be handled by an underwriter and forwards them to the appropriate queue for action.Notifies agents of underwriting requests and assures that information is received on a timely basis.Creates records on the Website for new accounts. Maintains Website information regarding approved requests, bond status, and premium adjustments.Education and Experience: High School Diploma or equivalent plus 0-4 years of work experience in commercial bond underwriting and/or a commercial bond department.