Sr Surety Underwriter

UFG Insurance; United States; On-site; USD 103,000 - 136,000; Full time

Benefits offered by this job

Annual incentive

Insurance

Retirement plans with employer contrib

Generous time-off

Job summary

UFG Insurance seeks a Sr. Surety Underwriter to build a profitable mix of new and existing surety business. You will develop strong agency relationships, independently underwrite complex submissions, and visit contractors and agents to assess risk and growth potential.

Responsibilities include evaluating financials, credit, and organization profiles, mentoring junior underwriters, and ensuring adherence to underwriting parameters. Travel up to 25% may be required.

Qualifications

• Bachelor’s degree or equivalent experience in surety.
• 5+ years of contract surety underwriting experience.
• Valid driver’s license with acceptable driving record.
• AFSB certification or working towards it.
• Willingness to travel up to 25% within territory.

Responsibilities

• Underwrite complex submissions independently within policy framework.
• Develop and maintain strong relationships with agents/brokers.
• Oversee a book of contract surety business in territory and meet goals.
• Conduct annual account reviews with financial analysis and lines of authority.
• Provide training and guidance to junior underwriters and staff.

Skills

Analytical skills

Underwriting expertise

Relationship building

Travel readiness

Education

Bachelor’s degree or equivalent

Finance/Economics/Accounting background preferred

Job description

UFG is currently hiring for a Sr. Surety Underwriter who will actively work towards building and maintaining a profitable mix of new and existing surety business by developing and maintaining strong working relationships with the agency force. Demonstrate strong analytical skills to evaluate risks for acceptability within their higher authority and company underwriting parameters. Independently Underwrite more complex submissions. Make regular agency visits and calls to assess growth and profitability of agents in their territory. Prospect and appoint new quality agents in the territory. Visit current and potential contractor’s place of business to better assess acceptability and quality of the accounts.

• Demonstrate successful growth of business independently and responsibly utilize the higher authority granted.
• Underwrite more complex submissions independently.
• Independently underwrite new submissions and existing accounts with the assistance from mentors. Evaluate and assess financial status, credit standing, and organization profile to analyze and determine acceptability of the risk within framework of UFG underwriting policies and procedures.
• Develop and maintain strong relationships with agents/brokers.
• Oversee a book of contract surety business within defined territory. Meet production, marketing, and profitability goals and develop marketing plan using the territory management tool.
• Upload and update file information electronically and purge obsolete data per department guidelines.
• Handles all confidential information with discretion.
• Provide high-quality customer service in all interactions with internal and external customers.
• Request underwriting information from agencies. Review and process information received.
• Perform annual review of accounts including financial analysis, obtaining current bank line of credit letters, preparing profiles, and recommendation of line of authority.
• Instruct, assign, and review work completed by support staff.
• Create record of communications concerning activities per department standards.
• Provide training, direction, and assistance to underwriters, associate underwriters, and underwriter trainees.
• Stay current on industry information regarding trends, competition, pertinent laws and legal occurrences, etc., and share the information with the department.

Job Specifications:

Education:

• Bachelor’s degree, or combination of education and surety experience.
• Bachelor’s degree in business administration, economics, finance or accounting preferred.

Certifications/Designations:

• Certified, or working towards, AFSB designation.
• Must have a valid and current drivers’ license and must have acceptable driving record in accordance with Company practice.
• Employees are expected to participate in continuing education throughout their careers.

Experience:

• 5+ years of contract surety underwriting experience.

Working Conditions:

• General office environment.
• Up to 25% of travel is required, by accompanying surety representatives to visit agency force and contract accounts. Overnight trips included.
• May be exposed to weather conditions, and/or results and debris of adverse weather conditions, during agency/contract visits.

Pay Transparency Statement:

UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $103,221 - $136,105 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data.

In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes:

• Annual incentive compensation
• Accident, critical Illness & short-term disability insurance
• Retirement plans with employer contributions
• Generous time-off program
• Programs designed to support the employee well-being and financial security.

This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.

Equal Opportunity Employer

This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.