Head of Commercial Surety

About the role

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients. Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America. The Opportunity: Future focused and always one step ahead! The Head of Commercial Surety will be responsible for the underwriting, risk management, administration, and overall business development of the commercial surety Line of Business in accordance with the company’s surety business model to meet projected profitability and expense goals. You will serve as lead underwriter for all commercial surety business. The position supports the Head of Surety in balancing the needs to achieve budgeted financial results (premium volume, loss ratio, premium collections and expense management including commissions) through sound underwriting practices and effective risk management of the commercial surety line in an effort to produce profitable results. You will also serve as lead in Book of Business reviews with the Regional Offices and assist in portfolio management. Our value proposition includes embedding significant underwriting authority in the position to create an enhanced, new age customer and broker experience. We will do this by providing an enhanced level of autonomy in the position to allow our regional offices to better service our agents and clients using an agile and lean approach. The Company is open to considering candidates in numerous locations, including New York (NY), Philadelphia (PA), Princeton (NJ), Hartford (CT) and Remote.

Responsibilities

• You will develop and execute a strategic business plan in order to expand our commercial surety portfolio and will maintain full P/L responsibility for the line of business.
• You will assist the Regional Bond Managers to establish and maintain key surety broker relationships in compliance with guidelines for all commercial surety business.
• You will develop risk management and portfolio management tools that