Underwriting Manager, Transactional Surety

Arch Insurance Group Inc.; Jersey City (NJ); On-site; USD 144,100 - 194,516; Full time

Benefits offered by this job

Medical, dental, vision coverage

401(k) with employer matching

Paid time off 20 days/year

Paid holidays 12+ per year

Job summary

Arch Insurance Group Inc. is seeking a senior underwriting professional to lead the Northeast region, oversee underwriting activities, and guide marketing plans for the territory. You will manage producers, monitor financial health of accounts, and drive profitability while expanding the Surety book.

The role requires 5–10 years of experience, strong communication, and deep knowledge of risk assessment. Expect travel and a competitive salary with incentive eligibility.

Qualifications

• Bachelor’s or higher degree in Finance/Accounting, or Management or equivalent work experience in a related field.
• Prior experience with Bloomberg and Moody’s Risk Analyst is a plus.
• Prior experience in financial and credit risk assessment and evaluation is preferred.
• At least 5-10 years of relevant experience.

Responsibilities

• Monthly meetings with agents and brokers to solicit business submissions and educate agency representatives on Arch Surety’s policies and requirements.
• Underwrites new and existing account submissions using underwriting authority; may handle most complex accounts.
• Market and train on Arch’s Online portal; assist portal users.
• Analyze financial statements and other documents to assess risk and financial position.
• Develop and maintain relationships with agents/brokers; oversee a book of Surety business.
• Seek new appointments with Surety professionals.
• Identify cross-selling opportunities across product lines.
• Investigate and manage underwriting/accounting/workflow issues.
• Monitor existing book from underwriting standpoint.
• Document decision logic and communicate with senior Home Office underwriting.
• Provide meeting direction and weigh underwriting standards against client needs.
• Assist in collecting past due premiums.

Skills

Underwriting

Risk assessment

Financial statement analysis

Communication

Education

Bachelor’s or higher in Finance/Accounting/Management

Tools

Bloomberg

Moody’s Risk Analyst

Job description

Job Summary

This position is responsible for overall profit and growth of the Northeast region. Oversee underwriting activities; establish marketing plan and oversee marketing activities for the territory. Manage producers within territory, including premium collections. Assist in preparing & implementing business plan and budget for region.

Responsibilities

• Monthly meetings with agents and brokers from assigned customer base and territory to solicit business submissions via marketing efforts and educate agency representatives on Arch Surety’s policies, procedures, appetite, and requirements. Act in a consultative capacity and discuss or review agency accounts and performance.
• Underwrites new and existing account submissions utilizing underwriting authority granted by Senior Commercial VP. May handle most complex accounts based on level of role. Makes thorough evaluations and assessments of a customer’s financial, technical, organizational, and management capacities, past experience, desired objectives as well as a subjective judgment of character, normally based upon data. Occasionally will meet with applicant/principal to facilitate above assessments.
• Responsible for actively marketing, training and become a subject matter expert on Arch’s Online portal. This includes answering and assisting portal users in all aspects of the online portal.
• Performs analytical evaluations of financial statements, Dun and Bradstreet, Moody’s or any other financial document on both a static and trend basis. Determines the present and historical financial position of the account and monitors financial position of risk through analysis of quarterly statements and work in progress data as appropriate.
• Develop/maintain strong relationships with agents/brokers and oversee a book of Surety business within defined territory. Meets production, marketing, and profitability goals as set by Senior Manager and assist in developing marketing plan.
• Actively seeking new appointments with Surety professionals.
• Stay informed with all Commercial and Contract Surety product lines and identify cross-selling opportunities with agent, engaging or referring appropriate parties as necessary.
• Responsible for investigation, analyzing, and managing all necessary underwriting/accounting/work flow issues, within framework of Surety policies and procedures.
• Monitor an existing book of business from an underwriting standpoint. Continuously evaluates the qualitative characteristics of the business (new and existing) as assigned.
• In connection with credit recommendations which tend to fall outside of normal underwriting standards, applies sound reason and business logic to reach decision as authorized. Effectively documents such logic in file and communicates to more senior Home Office underwriting, as necessary.
• Provide direction for topics to be addressed in meetings with agents, customers and others, as necessary.
• Learns to weigh decisions between underwriting standards and customer needs and expectations.
• Assist in collecting past due premium on agencies.

Education & Experience

• Bachelors or higher degree in Finance/Accounting, or Management or equivalent work experience in a related field.
• Prior experience with Bloomberg and Moody's Risk Analyst is a plus.
• Prior experience in financial and credit risk assessment and evaluation is preferred. Financial Statement Analysis expertise.
• At least 5-10 years of relevant experience.

Key Competencies

• Strong oral and written communication skills needed.
• Sales and negotiation skills.
• Organization and prioritization required to meet multiple demands and commitments.

Preferred Technical Skills

• Strong computer skills including proficiency in Microsoft Office software products.

Expected Travel

• 25% + domestic travel

Salary & Compensation

For individuals assigned or hired to work in the location(s) indicated below, the base salary range is provided. Range is as of the time of posting. Position is incentive eligible.

NY/NJ: $144,100 to $194,516/year

CT: $133,300 to $179,964/year

Benefits

Arch is committed to helping employees succeed through our comprehensive benefits package that includes multiple medical plans plus dental, vision and prescription drug coverage; a competitive 401k with generous matching; PTO beginning at 20 days per year; up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer; basic Life and AD&D Insurance as well as Short and Long-Term Disability; Paid Parental Leave of up to 10 weeks; Student Loan Assistance and Tuition Reimbursement, Backup Child and Elder Care; and more.

• Comprehensive medical, dental, vision and prescription drug coverage.
• Competitive 401(k) with generous employer matching.
• Paid time off starting at 20 days per year.
• Up to 12 paid company holidays per year plus 2 paid days of Volunteer Time Offer.
• Basic Life and AD&D Insurance, Short and Long-Term Disability.
• Paid Parental Leave up to 10 weeks.
• Student Loan Assistance and Tuition Reimbursement.
• Backup Child and Elder Care benefits.