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

Nationwide•Lakeview, NY

1d•$144,000 - $255,000•Remote

About The Position

Nationwide's Property and Casualty team is seeking a passionate individual to join their Fortune 100 company. This role focuses on helping people protect what matters most, innovating processes, and simplifying operations to provide the best customer value. The ideal candidate will have experience in large contract surety underwriting, territory development, broker distribution management, financial statement analysis, credit quality evaluation, and structuring/negotiating underwriting terms. The position is based in Utah and requires regular meetings with agents/brokers in the territory. This role does not qualify for employer-sponsored work authorization, and Nationwide does not participate in the Stem OPT Extension program.

Requirements

Experience in large contract surety underwriting, including both new business and portfolio management of complex or high-exposure accounts.
Demonstrated success in territory development and broker distribution management, with the ability to identify expansion opportunities, build producer plans, and develop target account strategies.
Advanced ability to analyze complex financial statements, including interpretation of profitability, leverage, cash flow, working capital, liquidity, backlog, and work-in-progress trends.
Experience evaluating credit quality and capacity of privately held and publicly traded companies, including identification of emerging deterioration and concentration risk.
Proven ability to structure, negotiate, and recommend underwriting terms that appropriately balance growth objectives with risk discipline.
Experience monitoring and managing a territory or portfolio of surety business, including trend analysis, close-out strategies, and proactive identification of adverse developments.
Strong marketing and relationship-management skills, with the ability to serve as a trusted partner to brokers and to influence new business opportunities in a competitive market.
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.

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 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. Decisions at this level may require review of additional variables due to the account size, complexity and interactions necessary to influence the largest most sophisticated producers. Leverage 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, account abilities 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. Planning considerations include sophistication of partners, organizational complexities and larger opportunities that must be mined, promoted and negotiated. 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 relationship. 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