Senior Underwriter

Amynta Group • Toronto, ON

21h • Onsite

About The Position

We are a fast-paced surety underwriting operation providing innovative solutions to our customers in Canada that require surety bonds locally and in the U.S. We encourage your unique perspectives, experiences and ideas to grow together. Our growth strategy is focused on a wide underwriting appetite for Commercial Surety risks, including Mining Reclamation Bonds, Performance/Payment Bonds for Service Providers and Manufacturers, and Developer Surety Bonds. Be a part of a fast growing, innovative surety team. We are currently recruiting a Senior Underwriter to support our office located in Toronto, ON.

Requirements

• Advanced technical expertise, underwriting skills and knowledge of surety underwriting principles, practices and procedures
• Proven experience with financial statement analysis, financial modeling and valuation.
• Minimum of five years full-time surety underwriting experience
• Bachelor’s degree in Accounting, Finance or Business Administration
• Ability to effectively communicate underwriting observations, comments, questions, and decisions, both orally and in-writing

Nice To Haves

• Exposure to U.S. market is an asset
• Proficiency in the French language is an asset

Responsibilities

• Underwrite new business and renewals for the Canadian Region.
• Prepare Special Acceptance submissions to Amynta Surety Solutions Home Office on over-line account accreditations and bond requests.
• Implement and execute the underwriting strategy established by SVP Canada for the Canada Region, including assistance with portfolio management/review responsibilities.
• Collaboratively support the SVP Canada in executing the Broker Strategies & Objectives developed by Canada Region.
• Collectively, with the SVP Canada, meet/exceed budgeted financial objectives and goals for the Canada Region.
• Assist summary operational and financial analysis, and a recommendation (including Terms & Conditions) to SVP Canada and/or CUO/CEO (Home Office) for all new/renewal Account Lines of Credit (“ALOC”) Submissions.
• Adhere to Amynta Underwriting Principals (“AUP”) documentation standards as respects underwriting, internal and external correspondence, pricing, file maintenance, account monitoring, portfolio management and Watch List Protocol.
• Continuously monitor portfolio of accounts using a proactive diary to ensure information is up to date and collaborate with Regional Underwriter to act where/when necessary to manage, mitigate, eliminate risk associated with a deteriorating account or an account’s failure to meet terms, conditions, and requirements.
• Participate in critical account discussions during Surety Portfolio Reviews.
• In collaboration SVP Canada, establish and manage account level authorities in the Canada Region to ensure all ALOCs are maintained current within 10 days of expiration.
• Assist SVP Canada with maintaining electronic file cabinet (“EFC”) file documentation / management, system data maintenance and Capital IQ Watch List management is adequate, up-to-date, and comply with/meet Surety AUP Standards and Underwriting Guidelines.
• Email correspondence between underwriters should be acknowledged and responded to within 24 hours. (Initiator is responsible for storing correspondence)
• Collaboratively work with SVP Canada, as well as Underwriting Associates to ensure timely payment/collection of premiums due.
• Meet with Regional Brokers and Accounts if/when support is requested by SVP Canada.
• Communicate and Collaborate with SVP Canada Region and CUO to ensure staffing and workflow is adequate to support Canada Region customer (external & internal) service and performance expectations.
• Review monthly ABS Reports for accuracy of data including new/renewal bond booking line-cards, new accounts issued within Regional Underwriting Authority Limits, ALOC Expirations, Watch List Accounts and Action Plans, and Regional Collateral Index. Work with SVP Canada & CUO on addressing any concerns necessary to ensure the integrity of the Canada Region Portfolio.
• Immediately alert communicate with SVP Canada to confirm if/when there is a material deterioration in account status or condition including claim notices and subsequently, with support of SVP Canada report accordingly to the CUO.
• Own outcomes. Works collaboratively with SVP Canada, CUO, and Surety Claims on workouts, defaults, and bankruptcies to minimize/mitigate claim exposure.
• Operate as an effective team member by supporting colleagues and contributing to the delivery and achievement of overall team and business objectives.

Benefits

• Equal Employment Opportunity
• Reasonable accommodation throughout the recruitment process in accordance with applicable human rights and accessibility legislation
• The Company will accommodate a candidate to the point of undue hardship.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior