AVP - Underwriter, Surety

Sompo International-posted about 2 months ago
Full-time • Mid Level
Alpharetta, GA
5,001-10,000 employees
Insurance Carriers and Related Activities
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As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions. Job Description Are you looking for your next opportunity? Sompo has a unique opportunity for a Commercial Surety Assistant Vice President - Underwriter. Location: This position can be based out of our Alpharetta, GA, Chicago, IL or Morristown, NJ office. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers. Our business, your impact, our opportunity: What you'll be doing:

  • Review submissions and financial requirements to determine acceptability of risk in accordance with guidelines and standards.
  • Analyse the financial stability, creditworthiness, and experience (capacity) of applicants (principals) to determine the likelihood of fulfilling their obligations under a bond.
  • Analyse financial statements, credit reports, and other relevant financial information for new and existing accounts to assess credit quality.
  • Understand pricing components and rating methodology as well as use of the predictive modeling tools to price risk based on financial and competitive analysis.
  • Use all appropriate underwriting tools, disciplines, and knowledge of strategies to ensure underwriting guidelines are followed.
  • Prepare or analyse information on adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive results within the assigned territory.
  • Adhere to CAT guidelines and underwriting discipline to minimize exposure and appropriately price.
  • Manage assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business, and portfolio management goals.
  • Prioritize time and resources to effectively manage and optimize producer performance.
  • Develop producer relationships to build pipeline, agency intelligence, and drive performance to meet and exceed results.
  • Develop and implement distributor specific plans, monitor performance, and adjust plan to ensure a substantial pipeline for future profitable growth.
  • Drive effective relationship management and client activities to build trust, facilitate negotiation and secure commitment to the customer.
  • Bachelor's degree preferred.
  • AFSB preferred.
  • Minimum 7 years of Surety underwriting experience.
  • Advanced knowledge of Surety underwriting, techniques, national/local filing regulations and guidelines.
  • Strong financial acumen and credit analysis skills.
  • Expert knowledge of underwriting processes, coverages, and tools to gather and evaluate information to reach appropriate decisions on renewals and new business.
  • Demonstrated ability to build and grow a profitable book of business and pipeline for future business.
  • Ability to uncover customer needs, position specific solutions, handle objections and close deals.
  • 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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