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Liberty Mutual Insurance · 2 days ago

Surety Home Office Executive Underwriter

United States

Full-time

Remote

Senior Level

7+ years exp

Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, is one of the world's largest global Sureties. The Surety Home Office Executive Underwriter is responsible for underwriting new and existing subdivision account submissions, collaborating with field staff, and ensuring compliance with Surety guidelines.

FinanceFinancial ServicesInsurance

Responsibilities

Underwrites new and existing subdivision account submissions of virtually all sizes and complexities utilizing underwriting authority granted by Chief Underwriting Officer and adhering to required underwriting guidelines. Makes thorough evaluations and assessments of a developer`s financial, technical, organizational, and management capacities, as well as apply a high level of subjective judgment of character, normally based upon data/insights provided by the field organization only. Incorporates expert level of knowledge regarding accounting, legal and organizational/managerial disciplines

With field underwriters and/or Bond Managers, meet with clients to facilitate assessments and/or provide direction for topics to be addressed with agents, principals, and others as necessary

Partners with field staff to identify, solicit, and contact significant producers in assigned territory under guidance from Bond Manager and more senior home office underwriting staff

Monitors, evaluates, and improves existing books of business from an underwriting standpoint as assigned and ensures compliance with Surety guidelines. Continuously evaluates the qualitative characteristics of new and existing business within assigned field offices. Assesses and identifies 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. Coordinates and/or surfaces issues to manager and/or field Bond Manager. As directed by more senior staff/manager, monitors marketing, underwriting and/or administrative issues within various offices, as assigned. Prepare, recommend, and/or implement instructions for administering workflows and accounting/billing issues to service unique situations

Utilizes various applications and data and analyzes statistical and financial reports, claims data, and other financial exhibits/data to ensure the quality of existing and new business. Communicates issues of concern on new and existing business to the applicable field office product line underwriter and/or Bond Manager, as necessary and inputs data on accounts to complete or modify analyses and maintain lines of credit in a current and accurate matter. Pursues resolution of open issues, documents result and adjusts credit parameters extended to specific accounts based upon such facts and findings. Applies sound reason and business logic to credit recommendations, documenting such logic file and communicate credit recommendations to more senior Home Office and Field underwriting staff, as necessary

May directly manage and/or provide underwriting support and direction to less experienced underwriting staff/interns

As necessary, collaborates with Claims staff to evaluate and/or resolve claim issues and as appropriate, takes immediate action to restrict credit on affected account. Keeps senior underwriting staff/manager informed of claims issues

Represents Liberty Mutual Surety with competitors regarding co-Surety matters and attends industry functions (i.e., Regional NASBP conferences, AGC, and trade conventions). May speak as requested at external industry meetings

Leads special projects as requested/assigned

Train field staff on the art of subdivision underwriting

Review indemnity agreements prepared by the field, and account rates, for errors

In some parts of the country, underwrite subdivision business directly with Liberty appointed agents

Qualification

Surety underwriting experienceAdvanced analytical abilityDecision-making skillsBusiness degreeTraining skillsInterpersonal skillsCommunication skillsCollaboration skills

Required

Degree in Business or related field typically required

A minimum of 7 years expected, typically 10 years or more, of progressive surety underwriting experience and/or other related business experience with progressive responsibility desired

Advanced analytical ability and decision-making skills to evaluate and judge underwriting risks within scope of responsibility

Demonstrated ability to make and clearly communicate sound underwriting recommendations that includes complex analyses, both verbal and written, and displays strong interpersonal skills in dealing with internal and external stakeholders

Must demonstrate comprehension of most complex technical underwriting issues and be capable of defining and implementing necessary underwriting and administrative processes/workflows