Surety Underwriter

UFG Insurance; Chicago (IL); On-site; USD 85,000 - 120,000; Full time

Job summary

UFG Insurance in Chicago seeks a Surety Underwriter to build and maintain a profitable portfolio by evaluating risks within authority and underwriting guidelines. You will visit agencies, prospect new agents, and collaborate with contractors to assess acceptability and growth.

A successful candidate has strong analytical skills, can manage a territory, and will mentor junior underwriters while meeting production and profitability goals.

Qualifications

• Bachelor's degree or combination of education and surety experience.
• 3+ years of contract surety underwriting experience.

Responsibilities

• Underwrite new submissions and existing accounts within authority.
• Develop and maintain strong relationships with agents/brokers.
• Meet production, marketing, and profitability goals in territory.
• Evaluate financial status and creditworthiness of applicants.
• Provide guidance and training to underwriters and trainees.

Skills

Analytical skills

Relationship building

Territory management

Underwriting

Communication

Education

Bachelor's degree in business, economics, finance, or accounting

Job description

UFG is hiring for a Surety Underwriter who will actively working 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 authority and company underwriting parameters. 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.

• The ideal candidate will reside in Chicago, Illinois/Greater Chicago area or the Milwaukee, Wisconsin territory

Essential Duties And Responsibilities

• Underwrite new submissions and existing accounts utilizing authority granted by head of Surety and with 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 associate underwriters and underwriter trainees.

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

• 3+ years of contract surety underwriting experience.

Working Conditions

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