Sr Territory Manager, Business Development - Contract Surety (National Bond Center)

Nationwide•Dartmouth, MA

9d•$144,000 - $255,000•Remote

About The Position

This role is within Nationwide's Property and Casualty team, focusing on transactional and small contract surety. The Surety Underwriting team is looking for individuals who are passionate about helping people protect what matters most, innovating processes, and simplifying operations. The ideal candidate will thrive in an environment that values critical thinking, communication, initiative, ambition, a broad skill set (marketing, finance, risk analysis), and a solutions-oriented mindset. The company is technology-savvy, motivated to grow, and offers excellent career advancement opportunities. This position serves as the primary relationship manager within large surety business territories, managing and underwriting a new and renewal surety book through direct contact with agencies or brokers. The role drives profit and premium to meet financial goals by developing, negotiating, and executing business plans. It also involves leading and influencing agencies through sales strategies and implementation of sales processes to drive new sales, increase market share, profit, and customer retention. Collaboration with all lines of business is expected to support and increase Nationwide's overall presence. The role independently underwrites accounts based on granted authority and underwriting appetite.

Requirements

Ten years of progressively responsible surety underwriting experience preferred.
Expertise in markets consistent with our underwriting appetite and product portfolio preferred.
Thorough knowledge of surety value proposition and ability to communicate to bond producers and principals.
Working knowledge of state laws and regulations required.
Expert level of knowledge of surety underwriting and familiarity with surety forms and the requirements of the territory.
Thorough working knowledge of company marketing/underwriting standards and philosophies.
Excellent knowledge of surety products and programs in order to teach aspects of material to others.
Strong knowledge of effective sales, marketing, and agency relationship management techniques.
Excellent interpersonal and sales skills.
Ability to build and maintain cooperative and mutually rewarding internal and external partnerships.
Must have the ability to perform duties with independent judgment with underwriting authority and company underwriting standards.
Demonstrated decision-making ability required in day-to-day operations where there may be unclear or competing priorities, including evaluating and recommending solutions to customer service, work processing, underwriting selection and rating, and best practices compliance.
Must have the ability to determine situations where additional support is needed to create alignment for decisions.
Must have a strong drive for results.
Other criteria, including leadership skills, competencies and experiences may take precedence.
Staffing exceptions to the above must be approved by the hiring manager's leader and HR Business Partner.
Regularly and consistently demonstrates Nationwide Values.
A valid driver’s license and safe driving record are required.

Nice To Haves

Undergraduate degree in business or a related field preferred.
Pursuit of technical insurance coursework such as AFSB is highly desirable.

Responsibilities

Monitors market conditions and confirms information gathered within market space.
Researches risk, environment, and factors necessary to win the account.
Performs analysis of complex accounts requiring experience, intuition, and business savvy to make strategic territory and account decisions.
Analyzes the quality and quantity of risks underwritten, considering financial statements, credit reports, bank statements, and other underwriting documents.
Analyzes regional underwriting performance, identifies territory-level problems, and proposes action plans.
Achieves production, profitability, and service objectives.
Accepts, rejects, or modifies new surety business of a complex nature within delegated authority levels and company guidelines to ensure profitability.
Prices business according to company underwriting and pricing guidelines.
Leverages agency relationships, underwriting tools, and evaluation of exceptions.
Reviews for acceptability and handles accounts within the level of authority using company underwriting guidelines and standards.
Manages workflow and intricacies of underwriting complex assigned work, utilizing company tools and systems to meet service level agreements.
Ensures file handling quality and workflow efficiency with a thorough understanding of overall surety strategic direction and operating plans.
Manages large, complex work and coordinates work with and through others to meet service level agreements.
Drives robust agency business planning to deliver detailed performance plans with actions, accountabilities, and scheduled performance checkpoints.
Ensures strong territorial objectives to maximize profit and pipeline management.
Proactively identifies opportunities for all lines to cross-sell and refers to appropriate business leaders.
Plans and coordinates the efforts of the surety team regarding new business and renewals.
Identifies prospects and recommends new agency appointments.
Markets company’s products and services to help drive agency and company results, including all enterprise products.
Assists agencies with strategies for pipeline management and developing new business in targeted industries and preferred markets.
Responds effectively to assess accounts and develop business propositions that win the business.
Proactively consults with agents, accounts, and internal partners to provide underwriting recommendations and develop business solutions.
Shares understanding of organizational capabilities and opportunities to drive maximum value of relationships.
Consults regarding appetite, acceptability, terms, conditions, pricing, and sales techniques of large or unique business.
Provides industry trend observations to leadership.
Consults with agencies to improve retention and profitability.
Proactively identifies and consults on strategies to develop new business and maximize growth and profit.
Effectively communicates with agencies to establish the company as the provider of choice for the territory for all enterprise products with an emphasis on surety.
Communicates product, technology changes, and company objectives.
Communicates market intelligence to agencies and leadership.
Ensures communication is shared across all key agency partners at all levels in complex environments.
Communicates and collaborates actively with team members and leadership to share industry trends and field underwriting experience.
Completes agency visits to develop new accounts, service existing accounts, review agency performance, and enhance agency relationships.
Develops and maintains strong business relationships with agencies, producers, and key groups.
Leads delivery of appropriate customer service levels.
Follows up and ensures proper handling of escalated customer service requests.
Ensures that tools, training, and support are in place to positively impact success for assigned agencies.
Identifies and communicates training needs and opportunities.
May assist in the development or training delivery as a subject matter expert.
Participates in program and product orientation meetings as the underwriting subject matter expert.
Provides professional development knowledge and insight to team members.
May help mentor new territory managers and provide coaching.
Monitors business plan results to determine performance and develop action plans to ensure alignment with underwriting philosophies, standards, and performance expectations.
Reviews business in process, lost business, and drives implementation of the business plan.
Ensures that unique agency business capabilities are assessed and emphasized as a competitive advantage.
May perform other responsibilities as assigned.

Benefits

medical/dental/vision
life insurance
short and long term disability coverage
paid time off with newly hired associates receiving a minimum of 18 days paid time off each full calendar year pro-rated quarterly based on hire date
nine paid holidays
8 hours of Lifetime paid time off
8 hours of Unity Day paid time off
401(k) with company match
company-paid pension plan
business casual attire