Contract Surety Bonds Senior Underwriter - Chicago

About the role

Great American Insurance Group's Bond Division is hiring for a Contract Surety Senior Underwriter to be based in Schaumburg, IL.

Responsibilities

• Evaluates and underwrites new and renewal business in accordance with Company underwriting guidelines and risk appetite.
• Reviews and evaluates complex financial statements, credit reports, and business operations of applicants.
• Determines coverage and sets terms, conditions, and pricing by evaluating the applicant’s financial capacity, past performance, and risk factors.
• Collaborates with actuaries, agents, brokers, and clients to obtain necessary information and clarify details.
• Ensures proper documentation of underwriting decisions and compliance with state and federal insurance regulations.
• Evaluates existing policies for potential renewal or modification.
• Communicates underwriting decisions clearly and effectively to internal teams, agents, and brokers.
• Stays updated on industry trends, regulatory changes, and market conditions.
• Develops and maintains effective business relationships with internal and external customers/coworkers, focusing on generating new business and retaining profitable business.
• Interprets, explains, and promotes products and services to drive market growth.
• Performs other duties as assigned.

Requirements

• Education: Bachelor’s Degree in Finance, Accounting, Business, or a related field or equivalent experience.
• Experience: Generally, 5 or more years of Contract Surety underwriting experience. Continuing progress toward and/or the completion of a professional designation preferred, such as Associate in Fidelity and Surety Bonding (AFSB), Chartered Property Casualty Underwriter (CPCU), Certified Public Accountant (CPA), and/or Registered Professional Liability Underwriter (RPLU).

Qualifications

• Performs work under general supervision and technical direction.
• Familiar with moderately complex concepts, practices, and procedures.
• Works with authority on assignments of moderate technical complexity.
• Strong analytical skills and attention to detail.
• Strong understanding of financial statement analysis and risk management.
• Excellent communication and interpersonal skills.
• Strong negotiation and decision-making ability.

Skills

• Financial Statement Analysis
• Risk Management
• Communication and Interpersonal Skills
• Negotiation and Decision-Making

Benefits

Bond Salary Range: $115,000.00 - $160,000.00
Benefits: Compensation varies by role, position level, and location. Individual pay is influenced by skills, education, training, certifications, experience, and the role's scope and complexity, along with business needs. We offer a competitive Total Rewards package, including medical, dental, and vision plans starting on day one, PTO, paid holidays, commuter benefits, an employee stock purchase plan, education reimbursement, paid parental leave/adoption assistance, and a 401(k) plan with company match. These benefits are available to eligible full-time and part-time employees. Your recruiter can provide more details about our total rewards and specific compensation ranges during the hiring process.