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Nationwide · 2 weeks ago

Sr Territory Manager, Business Development - Surety (Large Contract)

Worcester, MA

Full-time, Contract

Onsite

Senior Level, Lead/Staff

$144K/yr - $255K/yr

10+ years exp

Nationwide is a company passionate about helping people protect what matters most to them and innovating processes to provide the best customer value. The Sr Territory Manager, Business Development - Surety will act as the primary relationship manager within the largest territories of surety business, focusing on marketing, managing, and underwriting a new and renewal surety book while driving profit and premium to meet financial goals.

BankingFinancial ServicesInsuranceLife Insurance

Responsibilities

Monitors market conditions and confirms information gathered within market space. Researches risk, environment and factors necessary to win the account

Performs analysis of the most complex accounts that require combining experience, intuition and business savvy to fully understand the landscape in order to make strategic territory and account decisions. Analyzes quality and quantity of risks underwritten ensuring that all variables are considered including financial statements, credit reports, bank and other underwriting documents. Analyzes regional underwriting performance experience, identifies problems on a territory level and proposes action plans to address/rectify those situations

Achieves production, profitability and service objectives. Within delegated authority levels and company guidelines, accepts, rejects or modifies new surety business of a more complex nature to ensure profitability. Prices business according to company underwriting and pricing guidelines. Decisions at this level may require review of additional variables due to the account size, complexity and interactions necessary to influence the largest most sophisticated producers. Leverage agency relationships, underwriting tools and evaluation of exceptions and all other appropriate resources. Independently reviews for acceptability and handles those within level of authority using company underwriting guidelines and standards

Manages workflow and intricacies of underwriting more complex assigned work, utilizing company tools and systems to meet service level agreements. Ensures file handling quality and workflow efficiency with a thorough understanding of overall surety strategic direction and operating plans. Manages large, complex work and coordinates work with and through others to meet service level agreements

Drives robust agency business planning to deliver detailed performance plans with actions, account abilities and scheduled performance checkpoints. Ensures strong territorial objectives to maximize profit and pipeline management. Proactively identifies opportunities for all lines to cross sell and refers to appropriate business leaders. Planning considerations include sophistication of partners, organizational complexities and larger opportunities that must be mined, promoted and negotiated. Plans and coordinates the efforts of the surety team regarding new business and renewals. Identifies prospects and recommends new agency appointments

Markets company’s products and services to help drive agency and company results, including all enterprise products that may enhance offerings. Assists agency with strategies for pipeline management and to develop new business in targeted industries and preferred markets. Responds effectively to assess accounts and develop business propositions that win the business

Proactively consults with agents, accounts and internal partners to provide underwriting recommendations and develop business solutions. Shares understanding of organizational capabilities and opportunities to drive maximum value of relationships. Consults regarding the appetite, acceptability, terms, conditions, pricing and sales techniques of large or unique business. Provides industry trend observations to leadership. Consults with agencies to improve retention and profitability. Proactively identifies and consults on strategies to develop new business and maximize growth and profit

Effectively communicates with agencies to establish the company as the provider of choice for the territory for all enterprise products with an emphasis on surety. Communicates product, technology changes and company objectives. Communicates market intelligence to agencies and leadership. Ensures that communication is shared across all key agency partners at all levels in complex environments. Communicates and collaborates actively with team members and leadership to share industry trends, and field underwriting experience

Completes agency visits, as appropriate, to develop new accounts, service existing accounts, review agency performance and enhance agency relationship. Develops and maintains strong business relationships with agencies, producers and key groups

Leads delivery of appropriate customer service levels. Follows up and ensures proper handling of escalated customer service requests

Ensures that tools, training and support are in place to positively impact success for assigned agencies. Identifies and communicates training needs and opportunities. May assist in the development or training delivery as a subject matter expert. Participates in program and product orientation meetings in conjunction with Sales/Marketing partners as the underwriting subject matter expert. Provides professional development knowledge and insight to team members. May help mentor new territory managers and provide coaching

Proven ability to manage heavy workload effectively and backup other team members as needed. Monitors business plan results to determine performance and development of any action plans to ensure alignment with underwriting philosophies, standards and performance expectations. Reviews business in process, lost business and drives implementation of business plan. Ensures that unique agency business capabilities are assessed and emphasized as a competitive advantage

Qualification

Surety underwritingRisk analysisSales strategiesAgency relationship managementMarket analysisCommunication skillsInterpersonal skillsDecision-making abilityTeam collaboration

Required

Proven ability to manage heavy workload effectively and backup other team members as needed

Thorough knowledge of surety value proposition and ability to communicate to bond producers and principals

Working knowledge of state laws and regulations required

Expert level of knowledge of surety underwriting and is familiar with surety forms and the requirements of the territory

Thorough working knowledge of company marketing/underwriting standards and philosophies

Excellent knowledge of surety products and programs in order to teach aspects of material to others

Strong knowledge of effective sales, marketing and agency relationship management techniques

Excellent interpersonal and sales skills

Ability to build and maintain cooperative and mutually rewarding internal and external partnerships

Must have the ability to perform duties with independent judgment with underwriting authority and company underwriting standards

Demonstrated decision-making ability required in day-to-day operations where there may be unclear or competing priorities, including evaluating and recommending solutions to customer service, work processing, underwriting selection and rating and best practices compliance

Must have the ability to determine situations where additional support is needed to create alignment for decisions

Must have a strong drive for results

Preferred

Undergraduate degree in business or a related field preferred

Pursuit of technical insurance coursework such as AFSB is highly desirable

Ten years of progressively responsible surety underwriting experience preferred

Expertise in markets consistent with our underwriting appetite and product portfolio preferred

Benefits

Medical/dental/vision

Life insurance

Short and long term disability coverage

Paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date

Nine paid holidays

8 hours of Lifetime paid time off

8 hours of Unity Day paid time off

401(k) with company match

Company-paid pension plan

Business casual attire

And more

Company

Nationwide

Glassdoor3.9

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States.

Founded in 1925

Columbus, Ohio, USA

10001+ employees