Director, Business Development - Surety (Large Commercial)

Nationwide•Chicago, IL

1d•Hybrid

About The Position

This role is within Nationwide's Property and Casualty team, specifically on the Surety Underwriting team. The company is a Fortune 100 company with nearly $70 billion in annual sales, focused on protecting what matters most to customers and innovating processes for customer value. The Surety Underwriting team values initiative, ambition, a broad skill set (marketing, finance, risk analysis), and a solutions-focused approach. They are technology-savvy, motivated to grow the business, and offer excellent career advancement opportunities. The position leads an underwriting team including surety territory managers and field underwriters responsible for sales and underwriting relationships for a surety book of business. The primary focus is on underwriting, agency/customer relationship management, employee engagement, and expense management for a territory. The role involves independently underwriting accounts based on granted authority and underwriting appetite.

Requirements

Undergraduate degree in business, insurance, or a related field preferred.
Ten years of commercial or contract surety or related underwriting experience preferred.
Significant business management and people leadership experience desired.
Knowledge of contract and/or commercial surety operations, products, procedures, and practices.
Expertise in surety lines of business, ratings, customer environment, and markets.
Expertise in underwriting risks, including utilizing relevant tools.
Extensive knowledge of surety underwriting best practices, field underwriting operations, and day-to-day underwriting operational needs.
Excellent verbal and written communication skills.
Ability to set work priorities and initiate, evaluate, and recommend solutions to upper management.
Ability to perform duties with independent judgment and within underwriting authority and company underwriting standards.
Demonstrated decision-making ability in day-to-day operations with potentially unclear or competing priorities.
Strong drive for results.
Valid driver’s license with satisfactory driving record.
Must have a valid driver’s license with satisfactory driving record in accordance with Nationwide standards.

Nice To Haves

Actively pursuing of AFSB, CPCU or other insurance/finance related certification desired.
Familiarity with other company products preferred.
May require the ability to relocate.

Responsibilities

Analyzes portfolio and individual account performance, developing actions to drive profitable growth.
Monitors risk selection, renewal retention, and pricing decisions at both portfolio and individual account levels.
Reviews and approves underwriting decisions of staff, ensuring compliance with legal requirements and organizational objectives.
Provides recommendations to leadership regarding underwriting strategy and opportunities.
Measures and manages underwriting processing and quality.
Actively manages and participates in agency management.
Reviews complex or escalated business and makes underwriting decisions within granted authority and company guidelines.
Determines priorities and workflow/service standards for the department.
Monitors and manages performance measurements to ensure effective service delivery.
Aligns organizational structure to drive business results.
Plans, develops, and integrates territory sales plans to achieve financial objectives.
Translates strategic business plans into organizational direction.
Creates financial and operational goals, budget, and timelines.
Directs associates, providing performance management, salary planning, organizational planning, hiring, and placement.
Drives sales strategies to develop new business, improve retention, and maintain profitability.
Meets regularly with clients to enhance relationships and drive business results.
Handles escalated customer service issues and requests.
Provides input to leadership on strategic and business plans, identifying operational opportunities and efficiencies.
Consults with agents and brokers to provide expertise, educate, and identify business opportunities.
Consults with the team to develop experience and expertise for decision-making.
Consults with Home Office leaders on accounts requiring higher authority.
Communicates strategic direction and operational plans to internal associates and external partners.
Communicates policies, procedures, and financial budgets to achieve business objectives.
Ensures awareness of strategic corporate initiatives for field effectiveness.
Works in partnership with agencies to expand program share in shared surety accounts.
Develops and maintains strong business relationships with key groups and individuals in the commercial lines market.
Develops effective internal and external collaborative partnerships (Claims, Marketing, IT, etc.) to understand business developments and resolve needs.
Works with fellow leaders to manage the training of associates within the surety organization.
Coaches territory managers and field underwriters on pursuing surety opportunities with agencies/brokers to grow a profitable territory.
May perform other responsibilities as assigned.