Senior Underwriter, Surety

Chubb; Minneapolis (MN); On-site; USD 90,000 - 135,000; Full time

Job summary

Chubb seeks a Senior Surety Underwriter responsible for underwriting individual surety risks, assessing contracts and bond forms, and building a profitable book of business through sound underwriting and strong customer relationships.

This role requires travel of 10-25% within the assigned territory, mentorship of junior staff, and the ability to analyze financial statements, loss history, and ratemaking to support informed terms and complex rating plans.

Qualifications

• Fundamental underwriting of surety credits to generate profit while meeting customer needs.
• Ability to identify and analyze risk exposures and contracts, and manage underwriting discussions with customers.

Responsibilities

• Marketing and prospecting for new business within the assigned territory.
• Travel 10-25% with flexible territory options.
• Document underwriting files and determine terms and complex rating plans.
• Handle more complex files and portfolios and guide junior staff.

Skills

Fundamental underwriting

Risk assessment

Financial proficiency

Actuarial fundamentals

Marketing & communications

Systems & programs

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