Senior Underwriter, Contract Surety

Ascot Group; Chicago (IL); On-site; USD 120,000 - 145,000; Full time

Benefits offered by this job

Health and Welfare Benefits

Paid Time Off

401k Retirement Plan

Job summary

Ascot Group is seeking a Senior Underwriter, Contract Surety to join their team in Chicago, Illinois. This role involves supporting underwriting strategy and building strong relationships with brokers and clients to drive business growth in the contract surety sector.

The ideal candidate will have a Bachelor's degree in Finance or Accounting, at least 3 years of experience in underwriting, and a proven ability to develop distribution partnerships. A competitive annual salary range of $120,000 - $145,000 is offered, along with a comprehensive benefits package including health, leave, and retirement benefits.

Qualifications

• Minimum of 3 years of experience underwriting complex contract surety accounts.
• Proven track record of developing distribution partner relationships.
• Ability to manage change and work independently.

Responsibilities

• Contribute to production and underwriting strategy.
• Approve, decline, and price risks within authority limit.
• Develop productive relationships with distribution partners.

Skills

Underwriting complex accounts

Communication skills

Organizational skills

Relationship building

Critical thinking

Education

Bachelor’s degree in Finance, Accounting, or equivalent

Job description

Job Description

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern‑era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross‑product and cross‑platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world‑class service — both pre‑and post‑claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Ascot is embedding artificial intelligence (AI) and automation across the organization to enhance decision making, efficiency, and quality of outcomes. In this role, you will be expected to work confidently alongside AI enabled tools, apply sound judgment when interpreting insights, and adapt as technology continues to evolve. We value curiosity, critical thinking, and a willingness to embrace change as part of how we work.

Position Overview

Ascot Surety & Casualty Company is a US Treasury‑listed surety carrier. Ascot benefits from a Financial Strength Rating of A issued by A.M. Best.

The Senior Underwriter, Contract Surety will be responsible for supporting underwriting and marketing strategy in an assigned region. The successful candidate will be responsible for regional production targets, disciplined underwriting, and the development of productive distribution partner relationships. The successful candidate will work closely with brokers, clients, and internal teams to implement tailored solutions and drive business growth in the contract surety sector.

Responsibilities

• Responsible for meaningful contribution to production, disciplined regional underwriting, and distribution strategy
• Within authority limit, approve, decline, and price of risks
• Assists with the development and execution of segment strategies to contribute to budgeted results
• Accountable for accurate underwriting information and adherence to documentation standards
• Develop and leverage productive distribution partner relationships
• Commit to The Ascot Way: Embody The Ascot Way in their daily interaction with colleagues, fostering colleague engagement and development, collaboration, inclusivity, and individual accountability.

Requirements

• Bachelor’s degree in Finance, Accounting, or equivalent
• A minimum of 3 years of experience underwriting, analyzing, and servicing complex contract surety accounts
• Proven track record of establishing and developing distribution partner relationships
• Excellent communication and organizational skillsAbility to work independently and efficiently
• Consistently embraces and promotes a culture of collaboration and the ability to effectively manage change
• Demonstrates a strong work ethic, solid business judgment, and a passion for providing outstanding solutions to our business partners
• This position may be filled at a different level, depending on experience

Compensation

Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot’s total compensation package for employees. Other rewards may include annual cash bonus and other forms of discretionary compensation awarded by the Company. The annualized base pay range for this role is: $120,000 - $145,000

Company Benefits

The Company provides a competitive benefits package that includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)

Retirement Benefits: Contributory Savings Plan (401k)