Sr Territory Manager, Business Development - Surety (Large Contract)

Nationwide•Minnesota-Work from Home-3, ND

5d•$144,000 - $255,000•Remote

About The Position

This role is for a Sr Territory Manager, Business Development within Nationwide's Property and Casualty team, focusing on Surety. The company is a Fortune 100 company with nearly $70 billion in annual sales, emphasizing innovation, customer value, and extraordinary care. The Surety Underwriting team seeks individuals with critical thinking, communication skills, initiative, ambition, a broad skill set (marketing, finance, risk analysis), a solutions-oriented mindset, and technological savviness. This position involves being a primary relationship manager for large, complex surety territories, marketing, managing, and underwriting a surety book of business through direct contact with agencies or brokers. The goal is to drive profit and premium to meet financial objectives by developing, negotiating, and executing business plans. The role also involves leading and influencing agencies through sales strategies and processes to drive new sales, increase market share, profit, and customer retention, while collaborating with other lines of business to increase Nationwide's presence. Underwriting accounts is done independently based on granted authority and underwriting appetite.

Requirements

Undergraduate degree in business or a related field preferred.
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 is familiar 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

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 the most complex accounts that require combining experience, intuition, and business savvy to fully understand the landscape in order to make strategic territory and account decisions.
Analyzes quality and quantity of risks underwritten ensuring that all variables are considered including financial statements, credit reports, bank and other underwriting documents.
Analyzes regional underwriting performance experience, identifies problems on a territory level and proposes action plans to address/rectify those situations.
Achieves production, profitability, and service objectives.
Within delegated authority levels and company guidelines, accepts, rejects, or modifies new surety business of a more complex nature to ensure profitability.
Prices business according to company underwriting and pricing guidelines.
Leverages agency relationships, underwriting tools, and evaluation of exceptions and all other appropriate resources.
Independently reviews for acceptability and handles those within level of authority using company underwriting guidelines and standards.
Manages workflow and intricacies of underwriting more 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 that may enhance offerings.
Assists agency with strategies for pipeline management and to develop 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 the 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 that 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, as appropriate, 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 in conjunction with Sales/Marketing partners as the underwriting subject matter expert.
Provides professional development knowledge and insight to team members.
May help mentor new territory managers and provide coaching.
Proven ability to manage heavy workload effectively and backup other team members as needed.
Monitors business plan results to determine performance and development of any action plans to ensure alignment with underwriting philosophies, standards, and performance expectations.
Reviews business in process, lost business, and drives implementation of 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