Senior Underwriter, Surety

Chubb in; Minneapolis (MN); On-site; USD 120,000 - 150,000; Full time

Job summary

Chubb is a world leader in insurance products and services, seeking a Senior Surety Underwriter to assess and underwrite surety risks, analyze contracts and bonds, and manage internal controls with a view to profitability. The role emphasizes financial proficiency, actuarial awareness, and effective communication to grow the book of business.

Responsibilities include marketing for new business across an assigned territory, travel up to 25%, documenting underwriting files, determining terms and

Qualifications

• Knowledge of the surety industry
• Understanding of underwriting concepts, practices, and procedures
• Strong organizational skills
• Excellent MS Word, Excel, and Outlook
• Good internet usage
• Oral and written communication skills
• Negotiation skills
• Marketing skills
• Basic leadership skills
• Commitment to great customer service

Responsibilities

• Marketing and prospecting for new business, primarily through travelling throughout the assigned territory.
• Travel expectations 10-25% with flexible territory options.
• Documents the underwriting files
• Determines terms and conditions and complex rating plans
• Handles more complex files and portfolios
• Guides and mentors junior staff

Skills

Fundamental Surety Underwriting

Risk Assessment

Financial proficiency

Actuarial fundamentals

Marketing and communications

Systems and programs

Education

Bachelor's degree in accounting, finance, economics, or marketing preferred

3+ years surety underwriting experience

AFSB designation or in progress

Tools

Microsoft Word

Excel

Outlook

Internet usage

Job description

The Senior Surety Underwriter's primary responsibility is to underwrite individual surety risks through a demonstration of the following skills and abilities:

• Fundamental Surety Underwriting. Ability to underwrite surety credits which generate a profit for the Company while meeting the needs of the customer.
• Risk Assessment. Ability to identify risk exposures, analyze contracts and bond forms. Ability to analyze and differentiate risks on an account specific basis. Manage underwriting meetings with customers to understand operations and internal controls.
• Financial proficiency. Sophisticated understanding of financial statements and ratios used in surety underwriting. Understanding of the impact of underwriting decisions on company results. Ability to understand credit risk.
• Actuarial fundamentals. Ability to understand loss trends, loss triangles, and ratemaking. Ability to quantify risk based on experience history and forecasting methods.
• Marketing and communications. Ability to build relationships, internally and externally, to grow the book of business to achieve bottom line profitability for the Company. Ability to make presentations and communicate articulately. Ability to base communications on strategic thinking. Ability to manage producer strategy.
• Systems and programs. Ability to use systems and software programs needed to conduct daily business.

Senior Underwriter, Surety (Finance)

JOB DESCRIPTION

The Senior Surety Underwriter's primary responsibility is to underwrite individual surety risks through a demonstration of the following skills and abilities:

• Fundamental Surety Underwriting. Ability to underwrite surety credits which generate a profit for the Company while meeting the needs of the customer.
• Risk Assessment. Ability to identify risk exposures, analyze contracts and bond forms. Ability to analyze and differentiate risks on an account specific basis. Manage underwriting meetings with customers to understand operations and internal controls.
• Financial proficiency. Sophisticated understanding of financial statements and ratios used in surety underwriting. Understanding of the impact of underwriting decisions on company results. Ability to understand credit risk.
• Actuarial fundamentals. Ability to understand loss trends, loss triangles, and ratemaking. Ability to quantify risk based on experience history and forecasting methods.
• Marketing and communications. Ability to build relationships, internally and externally, to grow the book of business to achieve bottom line profitability for the Company. Ability to make presentations and communicate articulately. Ability to base communications on strategic thinking. Ability to manage producer strategy.
• Systems and programs. Ability to use systems and software programs needed to conduct daily business.

Major Duties & Responsibilities:

• Marketing and prospecting for new business, primarily through travelling throughout the assigned territory.
• Travel expectations 10-25% with flexible territory options.
• Documents the underwriting files
• Determines terms and conditions and complex rating plans
• Handles more complex files and portfolios
• Guides and mentors junior staff

QUALIFICATIONS

• Knowledge of surety industry
• Knowledge of underwriting concepts, practices, and procedures
• Strong organization skills
• Microsoft Word, Excel, and Outlook
• Internet usage
• Oral and written communication skills
• Negotiation skills
• Marketing skills
• Basic leadership skills
• Dedication to providing great customer service

Education & Experience:

• Bachelor's degree in accounting, finance, economics, or marketing preferred
• 3+ years surety underwriting experience
• Achieved or working towards achieving the AFSB (Associates in Fidelity and Surety Bonding) designation

ABOUT US

Chubb is a world leader in insurance. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.

At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, and pregnancy or any other characteristic protected by law. Performance and qualifications are the only basis upon which we hire, assign, promote, compensate, develop and retain employees. Chubb prohibits all unlawful discrimination, harassment and retaliation against any individual who reports discrimination or harassment.