Northeast Regional Manager - Commercial Surety

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.

About the role

Future-focused and always one step ahead! The Northeast Regional Commercial Surety Manager will be responsible for the marketing, underwriting, administration, and overall business development of an assigned geographic territory in accordance with the company’s surety business model to meet projected profitability and expense goals. You will serve as the lead underwriter for the assigned region as the front line for the commercial surety line of business. The position supports the Head of Commercial 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 to produce profitable results. You will also serve as lead in Book of Business reviews and assist the Head of Commercial Surety in portfolio management.

Our value proposition includes embedding significant underwriting authority in the position to create an enhanced 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.

Responsibilities

• Develop and execute a strategic business plan in order to expand our surety portfolio and maintain full P/L responsibility for the region.
• Establish and maintain key surety broker relationships in compliance with guidelines for new and renewal surety business.
• Develop and underwrite a profitable portfolio, coordinate new/renewal business while exercising proper underwriting pricing and discipline in compliance with underwriting guidelines, systems, and procedures.
• Hire, develop, and train other team members in your region (Sr. Underwriters, Underwriters, Associates, and Trainees) as appropriate.
• Collaborate with MRSNA Surety colleagues in order to fully leverage MRSNA Surety capabilities and increase our customer base.

Requirements

• Bachelor’s degree in Business Administration, Economics, Finance, Accounting, or related field.
• 10 years or more of progressive experience working with surety products.
• Entrepreneurial skill set, excellent marketing, negotiating, and communication skills.
• Successful track record of developing and maintaining strong relationships with agents/brokers.
• Ability to think strategically and function tactically.
• Exceptional communication skills that energize and engage brokers, clients, and colleagues, and the ability to convey a vision and client-focused solutions.
• Ability to present and negotiate complex agreements with brokers.
• Effective time management and organizational skills.
• Willingness to travel up to 40%.

The company is open to considering candidates in numerous locations, including Philadelphia PA, New York NY, Princeton NJ, Hartford CT, or Remote.

Pay

The base salary range anticipated for this position is $161,000 - $296,000, plus opportunity for a company bonus based upon a percentage of eligible pay. The salary range reflects market variations across various locations, with the offer adjusted per geography. Factors that may be used to determine your actual salary include your specific skills, years of experience, and comparison to other employees already in this role. Most candidates will start in the bottom half of the range.

Benefits

• Two options for health insurance plan (PPO or High Deductible).
• Prescription drug coverage (included in your health insurance plan).
• Vision and dental insurance plans.
• Basic life insurance equal to 1x annual salary and AD&D coverage equal to 1x annual salary (provided at no cost).
• Short and Long Term Disability coverage.
• Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
• Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness, and Hospital Indemnity).
• A robust 401k plan with up to a 5% employer match.
• A retirement savings plan that is 100% company funded.
• Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
• Eligibility to receive a yearly bonus as a Munich Re employee.
• A variety of health and wellness programs provided at no cost.
• Paid time off for eligible family care needs.
• Tuition assistance and educational achievement bonuses.
• A corporate matching gifts program that further enhances your charitable donation.
• Paid time off to volunteer in your community.