Assistant Vice President, Surety
About The Position
Sompo has a unique opportunity for an Assistant Vice President - Underwriter on our Contract Surety team. Sompo’s US Surety team partners with a nationwide network of independent agents and brokers to deliver surety bonding solutions for all types of businesses ranging from small to multinational. As one of the top 15 surety companies in the US, Sompo’s team has extensive experience in all lines of surety including contract, commercial and transactional. Sompo offers a full suite of bond products in all 50 states and Puerto Rico. This position will be based remote in Minnesota, with willingness to travel to market assigned territory that includes overnight trips. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers.
Requirements
- Minimum 7+ years of Surety underwriting experience required.
- Advanced expertise in Surety underwriting, including techniques, regulations, guidelines, coverages, and underwriting tools.
- Strong financial, credit analysis, and business development skills, with the ability to grow a profitable book, identify customer needs, and close deals.
Nice To Haves
- Bachelor’s degree and AFSB designation preferred.
Responsibilities
- Review submissions and financial requirements to assess risk acceptability in line with underwriting guidelines and standards.
- Evaluate applicants’ financial stability, creditworthiness, capacity, and related financial information to determine bond obligation risk and overall credit quality.
- Apply pricing components, rating methodologies, predictive modeling tools, and underwriting disciplines to price risk appropriately and minimize exposure.
- Prepare and analyze underwriting decisions, rate appeals, requirements, status updates, and declinations to support results across the assigned territory.
- Manage the assigned portfolio to achieve goals for premium, profitability, retention, product mix, new business, and overall portfolio performance.
- Build and manage producer and client relationships by prioritizing resources, developing distributor plans, strengthening pipeline opportunities, and driving profitable growth.
Benefits
- Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution
- Pharmacy benefits with mail order options
- Dental benefits including orthodontia benefits for adults and children
- Vision benefits
- Health Care & Dependent Care Flexible Spending Accounts
- Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children
- Company-paid Disability benefits with very competitive salary continuation payments
- 401(k) Retirement Savings Plan with competitive employer contributions
- Competitive paid-time-off programs, including company-paid holidays
- Competitive Parental Leave Benefits & Adoption Assistance program
- Employee Assistance Program
- Tax-Free Commuter Benefit
- Tuition Reimbursement & Professional Qualification benefits
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
