Surety Home Office Executive Underwriter

Liberty Mutual Insurance•Phoenix, AZ

About The Position

Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, is one of the world's largest global Sureties, including in the United States. Conducting business worldwide through fronting relationships and Liberty-owned subsidiaries, we provide bonds in over 60 countries for construction firms, manufacturers and suppliers, and commercial enterprises on an account and transactional basis. We are committed to building mutually profitable relationships by providing smart business solutions, ease of doing business, and consistent, responsive service. Liberty Mutual Surety is dedicated to the communities we serve and highly values a diverse workforce in more than 16 countries. 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.

Requirements

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

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.

Benefits

At Liberty Mutual, our goal is to create a workplace where everyone feels valued, supported, and can thrive.
We build an environment that welcomes a wide range of perspectives and experiences, with inclusion embedded in every aspect of our culture and reflected in everyday interactions.
This comes to life through comprehensive benefits, workplace flexibility, professional development opportunities, and a host of opportunities provided through our Employee Resource Groups.
Each employee plays a role in creating our inclusive culture, which supports every individual to do their best work.
Together, we cultivate a community where everyone can make a meaningful impact for our business, our customers, and the communities we serve.
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being.
To learn more about our benefit offerings please visit: https://LMI.co/Benefits

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