Contract Surety Bonds Senior Underwriter - Chicago

Summit Consulting; Schaumburg (IL); On-site; USD 115,000 - 160,000; Full time

Benefits offered by this job

Medical insurance

Vision/Dental plans

PTO

Commuter benefits

401(k) match

Education reimbursement

Parental leave

Job summary

Great American Insurance Group's Bond Division is seeking a Contract Surety Senior Underwriter in Schaumburg, IL. This in-office role involves traveling within the assigned territory to evaluate complex financial statements, credit reports, and business operations in order to determine coverage and pricing.

You will collaborate with actuaries, agents, brokers, and clients to obtain necessary information, ensure documentation and compliance with regulations, and build relationships to generate

Qualifications

• Bachelor’s degree in Finance, Accounting, Business, or related field or equivalent experience.
• 5+ years of Contract Surety underwriting experience.
• Professional designations such as AFSB, CPCU, CPA, and/or RPLU preferred.

Responsibilities

• Evaluates and underwrites new and renewal business in accordance with underwriting guidelines and risk appetite.
• Reviews and evaluates complex financial statements, credit reports, and business operations of applicants.
• Determines coverage and pricing by evaluating financial capacity, past performance, and risk factors.
• Collaborates with actuaries, agents, brokers, and clients to obtain necessary information.
• Ensures proper documentation of underwriting decisions and compliance with regulations.
• Evaluates existing policies for potential renewal or modification.
• Communicates underwriting decisions clearly to internal teams, agents, and brokers.
• Stays updated on industry trends and market conditions.
• Develops and maintains relationships to generate new business and retain profitable business.
• Interprets and promotes products to drive market growth.

Skills

Financial statement analysis

Underwriting

Risk management

Communication

Negotiation

Travel

Education

Bachelor’s Degree in Finance/Accounting/Business

Job description

Be Here. Be Great. Working for a leader in the insurance industry means opportunity for you.

Great American Insurance Group's member companies are subsidiaries of American Financial Group.

We combine a \"small company\" culture where your ideas will be heard with \"big company\" expertise to help you succeed.

With over 30 specialty and property and casualty operations, there are always opportunities here to learn and grow.

At Great American, we value and recognize the benefits derived when people with different backgrounds and experiences work together to achieve business results.

Our goal is to create a workplace where all employees feel included, empowered, and enabled to perform at their best.

Great American's Bond Division has been underwriting surety and fidelity bonds for over 95 years.

Great American is known for expert underwriting, solid financial strength, market leadership and creative solutions to all bonding needs.

With a highly diverse product line, Great American is one of the top surety companies in the United States.

Bonds - Great American Insurance Group

Our Bonds Division is hiring for a Contract Surety Senior Underwriter to be in our Schaumburg, IL office.

This position involves in-office work and traveling within the assigned territory.

Essential Job Functions and Responsibilities

• Evaluates and underwrites new and renewal business in accordance with Company underwriting guidelines and risk appetite.


• Reviews and evaluates complex financial statements, credit reports, and business operations of applicants.


• Determines coverage and sets terms, conditions, and pricing by evaluating the applicant’s financial capacity, past performance, and risk factors.


• Collaborates with actuaries, agents, brokers, and clients to obtain necessary information and clarify details.


• Ensures proper documentation of underwriting decisions and compliance with state and federal insurance regulations.


• Evaluates existing policies for potential renewal or modification.


• Communicates underwriting decisions clearly and effectively to internal teams, agents, and brokers.


• Stays updated on industry trends, regulatory changes, and market conditions.


• Develops and maintains effective business relationships with internal and external customers/coworkers, focusing on generating new business and retaining profitable business.


• Interprets, explains, and promotes products and services to drive market growth.


• Performs other duties as assigned.

Job Requirements

• Education: Bachelor’s Degree in Finance, Accounting, Business, or a related field or equivalent experience.


• Experience: Generally, 5 or more years of Contract Surety underwriting experience.


• Continuing progress toward and/or the completion of a professional designation preferred, such as Associate in Fidelity and Surety Bonding (AFSB), Chartered Property Casualty Underwriter (CPCU), Certified Public Accountant (CPA), and/or Registered Professional Liability Underwriter (RPLU).

Scope of Job/Qualifications

• Performs work under general supervision and technical direction.


• Familiar with moderately complex concepts, practices and procedures.


• Works with authority on assignments of moderate technical complexity.


• Strong analytical skills and attention to detail.


• Strong understanding of financial statement analysis and risk management.


• Excellent communication and interpersonal skills.


• Strong negotiation and decision-making ability.


• Position requires occasional travel.

Business Unit: Bond Salary Range: $115,000.00 -$160,000.00

Benefits

• Compensation varies by role, position level, and location


• Individual pay is influenced by skills, education, training, certifications, experience, and the role's scope and complexity, along with business needs


• medical, dental, and vision plans starting on day one


• PTO


• paid holidays


• commuter benefits


• an employee stock purchase plan


• education reimbursement


• paid parental leave/adoption assistance


• a 401(k) plan with company match


• These benefits are available to eligible full-time and part-time employees


• Your recruiter can provide more details about our total rewards and specific compensation ranges during the hiring process.

Why can you trust Great American Insurance Group?

For nearly 150 years, Americans have trusted us to protect them. Our innovative insurance solutions and specialization serves niche marketplaces that we know well. This expertise gives us a successful foundation that spans generations. You never know where a career in insurance will take you. Whether you are starting your career or are looking for a company to grow your experience, at Great American Insurance Group, you can join our more than 8,500 employees to \"Be Here. Be GREAT!\"

To learn more, visit our Career Page