Commercial Surety Underwriter
Company: Liberty Mutual Insurance
Posted on: March 18, 2023
Liberty Mutual Surety--- is currently recruiting for a Surety
Underwriter to join our Core Commercial Team in Plano, Texas.As a
Surety Underwriter you will market, underwrite, and service
independent agents, brokers, and commercial 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 customers first.
Liberty Mutual Surety, a business unit of Liberty Mutual Insurance,
is the worlds largest globally Surety, including in the United
States. 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
- 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 Commercial 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 workflows
and accounting/billing issues to service unique situations.
- May mentor more junior staff based on level.
- Performs special projects and other duties as assigned.
- Salary and level based on experience.Qualifications
- BA/BS in Business Administration or related field typically
- A minimum of 5 years' experience expected, typically 7 or more
years surety underwriting experience and/or equivalent surety
related business experience preferred.
- Proven analytical ability to evaluate and judge underwriting
risks within scope of responsibility.
- Demonstrated ability to communicate complex analyses and
information in understandable written and/or oral directives to
other persons in the organization for underwriting or training
- Demonstrated effective communication and interpersonal skills
in dealing with agents, brokers, CPAs, bankers, attorneys, etc.
- Must demonstrate comprehension of complex technical
underwriting issues and be capable of defining and implementing
necessary underwriting and administrative processes/ workflows to
properly manage or administer those issues.
- Demonstrated track record of business development.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.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. For many years running, 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:
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 about our benefit offerings please
visit: https://LMI.co/BenefitsLiberty 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 Insurance, Plano , Commercial Surety Underwriter, Other , Plano, Texas
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