Executive Surety Underwriter

About the role

The Executive Surety Underwriter will build and maintain a profitable mix of new and existing surety business by developing and maintaining strong working relationships with the agency force.

Responsibilities

• Demonstrate strong analytical skills to evaluate risks for acceptability within their higher authority and company underwriting parameters.
• Independently underwrite complex submissions.
• Review of accounts and bid requests that exceed individual underwriter’s authority levels.
• Make regular agency visits and calls to assess growth and profitability of agents in their territory including accompanying other underwriters on their visits.
• Possess the ability to prospect and appoint new quality agents.
• Visit current and potential contractor’s place of business to better assess acceptability and quality of the accounts.
• Help underwriters produce a profitable mix of new and existing business.
• Assist upper management in the development of underwriters.
• Instruct, assign, and review work and projects completed by underwriters.
• Daily interaction and development of the underwriters and their books of business.
• Coaching, mentoring, and training of all team members.
• Demonstrate successful growth of business independently and responsibly utilize the higher authority granted.
• Underwrite complex submissions independently.
• Independently underwrite new submissions and existing accounts 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.
• Create record of communications concerning activities per department standards.
• Audit underwriter files.
• Stay current on industry information regarding trends, competition, pertinent laws and legal occurrences, etc., and share the information with the department.

Qualifications

• Bachelor’s degree in business administration, economics, finance or accounting preferred.
• Must have a valid and current drivers’ license and must have acceptable driving record in accordance with Company practice.

Skills

• Strong analytical skills.
• Ability to evaluate risks for acceptability within company underwriting parameters.
• Experience in underwriting complex submissions.
• Effective communication and relationship-building skills.
• Proficiency in managing a book of contract surety business.
• Ability to meet production, marketing, and profitability goals.
• Knowledge of industry trends, competition, and pertinent laws and legal occurrences.

Benefits

• Annual incentive compensation.
• Medical, dental, vision & life insurance.
• 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.

Pay

The base salary range for this position is $123,865 - $163,368 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.