Senior Surety Underwriter
Company: Liberty Mutual
Posted on: June 6, 2021
Advance your Underwriting career at Liberty Mutual Insurance- A
Fortune 100 Company!
Liberty Mutual Surety is currently recruiting for a Surety
Underwriting Specialist to join our Surety Plus team in our Plano,
As a small to middle market Surety Underwriter you will market,
underwrite, and service independent agents, brokers, and contract
surety accounts within an assigned territory. Using your excellent
rapport building skills, you will build and maintain positive
relationships and will market to your territory focusing on
relationship building rather than transactional sales. You will
also use your business and financial acumen to perform primary
credit underwriting and financial/risk analysis, provide
recommendations, and make decisions on new and existing accounts.
This is an excellent opportunity for an experienced and
self-motivated surety professional looking to grow their career
with a top surety company that focuses on its employees and
Liberty Mutual Surety, a business unit of Liberty Mutual
Insurance, is the 2nd largest Surety in the United States and a
leading global surety. Conducting business worldwide through
fronting relationships and Liberty-owned subsidiaries, we provide
bonds in over 60 countries for construction firms, manufacturers
and suppliers, and commercial enterprises on an account and
transactional basis. We are committed to building mutually
profitable relationships by providing smart business solutions,
ease of doing business, and consistent, responsive service. Liberty
Mutual Surety is dedicated to the communities we serve and highly
values a diverse workforce in more than 16 countries.
- Meets with agents and brokers from assigned customer
base/territory to solicit business/submissions via marketing
efforts and educate agency representative(s) on Liberty Mutual
Surety policies, procedures, appetite, and requirements. Act in a
consultative capacity and discuss/review agency accounts and
- Underwrites new and existing account submissions utilizing
underwriting authority granted by Chief Underwriting Officer. May
handle most complex accounts based on level of role. Makes thorough
evaluations and assessments of a customer's financial, technical,
organizational, and management capacities, past experience, desired
objectives as well as a subjective judgment of character, normally
based upon data/insights. In many cases, will meet with client to
facilitate above assessments.
- Performs analytical evaluations of financial statements on both
a static and trend basis. Determines the present and historical
financial position of the account and monitors financial position
of risk through analysis of quarterly statements and work in
progress data as appropriate
- Develop/maintain strong relationships with agents/brokers and
oversee a book of Contract Surety business within defined
territory. Meets production, marketing, and profitability goals as
set by manager and assist in developing marketing plan.
- Stay abreast of Liberty Mutual Surety product lines and
identify cross-selling opportunities with agent, engaging/referring
appropriate parties as necessary.
- Responsible for investigation, analyzing, and managing all
necessary underwriting/accounting/work flow issues, within
framework of Surety policies and procedures.
- Monitor an existing book of business from an underwriting
standpoint. Continuously evaluates the qualitative characteristics
of the business (new and existing) as assigned. Examples include
utilization of self-audit programs, financial ratio analysis
report. Makes recommendations to Manager for proper lines of
authority to be submitted to Home Office. Monitors and controls
utilization of such lines to ensure compliance with
- May assess and identify changes in all aspects of the business
including, but not limited to, work program to financial strength
criteria, nature of work performed (inherent risk), accuracy and
timeliness of data flow, and exposure analyses. Coordinate and
surface issues to more Home Office staff and Bond Managers
- Assists in the evaluation of business continuity arrangements
and funding mechanisms (such as adequacy of life insurance) to
preclude financial drain of customer in the event of the demise of
(an) owner or other insurable loss.
- In connection with credit recommendations which tend to fall
outside of normal underwriting standards, applies sound reason and
business logic to reach decision as authorized. Effectively
documents such logic in file and communicates to more senior Home
Office and Field underwriting staff, as necessary.
- Provide direction for topics to be addressed in meetings with
agents, customers and others, as necessary.
- Prepare and implement instructions for administering work flows
and accounting/billing issues to service unique situations.
- May mentor more junior staff based on level.
- Performs special projects and other duties as assigned.
- Bachelor's degree in Finance, Accounting or equivalent and a
minimum of 5 years' experience expected, preferably 7 or more years
surety underwriting experience and/or equivalent surety related
business experience . Strong preference with the contract Surety
- Solid understanding of financial and accounting principles and
the ability to demonstrate sound business judgment in the
evaluation of the financial condition, credit history, and
character of contract accounts.
- Proven analytical ability to evaluate and judge underwriting
risks within scope of responsibility.
- AFSB certification preferred
- Demonstrates strong ability to communicate complex analyses and
information in understandable written and/or oral directives for
underwriting or training purposes.
- Demonstrates strong communication and interpersonal skills in
dealing with agents, brokers, CPAs, bankers, attorneys, etc.
required to build & maintain good business relationships.
- Excellent organizational skills as well as attention to
- Salary and level based on experience and location.
At Liberty Mutual, our purpose is to help people embrace today
and confidently pursue tomorrow. That's why we provide an
environment focused on openness, inclusion, trust and respect.
Here, you'll discover our expansive range of roles, and a workplace
where we aim to help turn your passion into a rewarding profession.
We value your hard work, integrity and commitment to make things
better, and we put people first by offering you benefits that
support your life and well-being. To learn more, please visit
Liberty Mutual has proudly been recognized as a "Great Place to
Work" by Great Place to Work US for the past several years. We were
also selected as one of the "100 Best Places to Work in IT" on
IDG's Insider Pro and Computerworld's 2020 list.
We have been named by Forbes as one of America's Best Employers
for Women and one of America's Best Employers for New Graduates-as
well as one of America's Best Employers for Diversity. To learn
more about our commitment to diversity and inclusion please visit:
Liberty Mutual is an equal opportunity employer. We will not
tolerate discrimination on the basis of race, color, national
origin, sex, sexual orientation, gender identity, religion, age,
disability, veteran's status, pregnancy, genetic information or on
any basis prohibited by federal, state or local law.
Keywords: Liberty Mutual, Plano , Senior Surety Underwriter, Other , Plano, Texas
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