Surety Underwriter - Large Commercial

Liberty Mutual Surety™ is currently recruiting for a Surety Underwriter to join our Large Commercial Chicago team. As a Surety Underwriter, you will develop and underwrite profitable surety business, service independent agents, brokers, and commercial accounts within an assigned territory, and build and maintain positive partnerships with agents, brokers, and accounts as a trusted advisor.

About the role

This is an excellent opportunity for an experienced and self-motivated surety professional looking to grow their career with a top surety company. Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, is the world’s largest global surety provider, offering bonds in over 60 countries for construction firms, manufacturers, suppliers, and commercial enterprises. We are committed to building mutually profitable relationships through smart business solutions, ease of doing business, and consistent, responsive service.

Responsibilities

• Underwrite and negotiate accounts to maximize profitability while minimizing risk, including complex accounts based on role level.
• Make thorough evaluations and assessments of a customer’s financial, technical, organizational, and management capacities, including experience, objectives, and subjective judgment of character.
• Manage the profitability and retention of an assigned book of business while developing the portfolio through strong relationships and active engagement with new and existing agents and brokers. May assist in developing the marketing plan.
• Perform analytical evaluations of financial statements on both a static and trend basis. Determine the present and historical financial position of accounts and monitor financial risk through analysis of quarterly statements and work-in-progress data.
• Stay abreast of Liberty Mutual Surety and Global Risk Solutions product lines and identify/promote opportunities with agents and brokers, leveraging domestic and global capabilities.
• Investigate, analyze, and manage all necessary underwriting, accounting, and workflow issues within the framework of Surety policies and procedures.
• Assess and identify changes in business aspects, including work programs, financial strength criteria, nature of work performed, data flow accuracy, and exposure analyses. Coordinate and surface issues to Home Office Underwriters and Field Management.
• Assist in the evaluation of business continuity arrangements and funding mechanisms (e.g., adequacy of life insurance) to preclude financial drain in the event of owner demise or other insurable loss.
• May mentor more junior staff based on role level.
• Perform special projects and other duties as assigned.

Qualifications

• Degree in Business or equivalent, typically required.
• A minimum of 1.5 years, typically 2 or more years, of surety underwriting experience and/or other related experience.
• Proven analytical ability to evaluate and judge underwriting risks, including competence with all phases of the underwriting process and proficiency in qualitative and quantitative tools and techniques.
• Must demonstrate comprehension of complex technical underwriting issues and be capable of defining and implementing necessary underwriting and administrative processes/workflows.
• Proven track record of developing and underwriting profitable surety business.

Schedule

The selected candidate will work a hybrid schedule with two days per week in the Downtown Chicago office. This policy is subject to change.

Pay

The typical starting salary range for this role is determined by skills, experience, education, certifications, and location. The full salary range reflects the competitive labor market value and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors.

Benefits

Liberty Mutual offers a comprehensive benefits package to support employees' life and well-being. To learn more about our benefit offerings, visit Liberty Mutual Benefits.