Sr. Underwriter or Assistant Vice President, Commercial Surety

About the role

Sompo has a unique opportunity for an experienced Commercial Surety Underwriting Professional at the Sr. Underwriter or Assistant Vice President level. Location: This position can be based out of our Scottsdale, AZ, Los Angeles, CA or Denver, CO offices. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers. Our Business, Your Impact, Our Opportunity

Responsibilities

• Review submissions and financial requirements to determine acceptability of risk in accordance with guidelines and standards.
• Analyze the financial stability, creditworthiness, and experience (capacity) of applicants (principals) to determine the likelihood of fulfilling their obligations under a bond.
• Analyze financial statements, credit reports, and other relevant financial information for new and existing accounts to assess credit quality.
• Understand pricing components and rating methodology as well as use of the predictive modeling tools to price risk based on financial and competitive analysis.
• Use all appropriate underwriting tools, disciplines, and knowledge of strategies to ensure underwriting guidelines are followed.
• Prepare or analyze information on adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive results within the assigned territory.
• Adhere to CAT guidelines and underwriting discipline to minimize exposure and appropriately price.
• Manage assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business, and portfolio management goals.
• Prioritize time and resources to effectively manage and optimize producer performance.
• Develop producer relationships to build pipeline, agency intelligence, and drive performance to meet and exceed results.
• Develop and implement distributor specific plans, monitor performance, and adjust plan to ensure a substantial pipeline for future profitable growth.
• Drive effective relationship management and client activities to build trust, facilitate negotiation and secure commitment to the customer.

Requirements

• Bachelor’s degree preferred.
• AFSB preferred.
• Minimum 5+ years of Surety underwriting exp for Sr. Underwriter title.
• Minimum 7-10+ years of Surety underwriting experience for AVP title.
• Advanced knowledge of Surety underwriting, techniques, national/local filing regulations and guidelines.
• Strong financial acumen and credit analysis skills.
• Expert knowledge of underwriting processes, coverages, and tools to gather and evaluate information to reach appropriate decisions on renewals and new business.
• Demonstrated ability to build and grow a profitable book of business and pipeline for future business.
• Ability to uncover customer needs, position specific solutions, handle objections and close deals.

Qualifications

• Must have a valid driver’s license.
• Must be able to pass a background check.
• Must be able to travel up to 25%.

Skills

• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Proficient in Microsoft Office Suite.
• Knowledge of Surety Bonding industry.

Benefits

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees. Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of a base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

Pay

Salary Range: $125,000 - $200,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.

Schedule

Full-time position.

Summary

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:

• Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
• Pharmacy benefits with mail order options
• Dental benefits including orthodontia benefits for adults and children
• Vision benefits
• Health Care & Dependent Care Flexible Spending Accounts
• Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
• Company-paid Disability benefits with very competitive salary continuation payments
• 401(k) Retirement Savings Plan with competitive employer contributions
• Competitive paid-time-off programs, including company-paid holidays
• Competitive Parental Leave Benefits & Adoption Assistance program
• Employee Assistance Program
• Tax-Free Commuter Benefit
• Tuition Reimbursement & Professional Qualification benefits

Equal Opportunity Employer

We intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions – we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.