Senior Underwriter, Surety

Chubb Life Fund; Minneapolis, Northern (MN, KY); Hybrid; USD 110,000 - 160,000; Full time

Job summary

Chubb Life Fund seeks a Senior Surety Underwriter to underwrite individual surety risks with profitability and client service in mind. You will assess risk, analyze contracts and finances, and determine terms and pricing for complex bonds.

You will travel 10-25% across the territory, document files, and mentor junior underwriters while supporting marketing and relationship-building efforts to grow the book of business.

Qualifications

• Experience underwriting surety credits with profitable risk decisions.
• Ability to assess risk exposures and analyze contracts and bond forms.
• Strong financial statement analysis and credit risk understanding.
• Knowledge of loss trends, ratemaking and forecasting methods.
• Proven ability to build client relationships and present to stakeholders.
• Proficient with relevant underwriting software and systems.

Responsibilities

• Prospect for new business through travel across assigned territory.
• Travel 10-25% with flexible territory options.
• Document underwriting files and determine terms, conditions, and complex rating plans.
• Handle more complex files and portfolios.
• Guide and mentor junior staff.

Skills

Underwriting fundamentals

Risk assessment

Financial analysis

Ratemaking & actuarial concepts

Relationship building

Communication & presentations

Systems & software proficiency

Mentoring junior staff

Tools

Underwriting systems

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