Senior Underwriter, Surety

Chubb Ltd.; Minneapolis, Northern (MN, KY); Hybrid; USD 90,000 - 150,000; Full time

Job summary

Chubb Ltd. in Minneapolis seeks a Senior Surety Underwriter responsible for underwriting individual surety risks with a focus on profitable growth and client service.

The role requires deep analysis of contracts, bonds, financial statements, and loss trends; you will mentor junior staff and collaborate with producers to expand the book of business. Regular travel within the territory is expected.

Qualifications

• Underwrite surety credits to generate profit while meeting customer needs.
• Identify risk exposures, analyze contracts and bond forms, and manage underwriting meetings with customers.
• Interpret financial statements and ratios for underwriting decisions.
• Understand loss trends, loss triangles, and ratemaking to quantify risk.

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

Surety underwriting

Risk assessment

Financial analysis

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