Surety Business Solutions Specialist

Munich Re Group • Philadelphia, PA

111d • $104,200 - $166,100

About The Position

Welcome to Munich Re Specialty - North America, a leading specialty insurance provider dedicated to delivering exceptional underwriting, claims, and risk management expertise to our partners and customers. As a trusted industry expert, we offer a broad range of comprehensive and customized solutions, including casualty, professional lines, property, surety, and public entity coverages. With the financial strength and global resources of our A+ Superior (A.M. Best) rated organization, we provide unmatched stability and reliability. Our team is committed to superior service levels, a distinctive approach to specialty solutions, and a deep understanding of the complex risks our clients face. Join our team and be part of a dynamic and experienced organization that is shaping the future of specialty insurance in North America. The Business Solutions Specialist will be responsible for supporting the administration of the Surety Department in alignment with the company's surety business model to achieve projected profitability and expense goals. This role works closely with the Head of Surety to balance operational and strategic priorities, ensuring budgeted financial results are met, including premium volume, loss ratio, premium collections, and expense management (including commissions). Through ongoing efforts to enhance and improve overall operations, you will coordinate and delegate tasks effectively to reduce operational expenses and drive profitable outcomes. In addition, you will serve as the lead in coordinating the Surety Department's collaboration with other teams within the Group, including IT, Operations, and Risk Management.

Requirements

• Bachelor's degree in Business Administration, Economics, Finance, Accounting, or related field
• 7+ years or more of progressive experience working with surety products
• Entrepreneurial skill set, excellent marketing, negotiating and communication skills
• Successful track record of developing and maintaining strong relationships with colleagues
• Works independently, with guidance in only the most complex problems
• Interprets internal/external business challenges and recommends best practices to improve services
• Ability to think strategically and function tactically
• Exceptional communication skills that energize and engage colleagues and the ability to convey a vision and focused solutions
• Effective time management and organizational skills

Responsibilities

• Develop and execute strategies that improve overall operating efficiencies
• Maintain and improve the use of our Surety Underwriting System
• Serve as the lead point of contact for ongoing cooperation within the Group, working in coordination and collaboration with other business teams
• Work directly with the Operations Teams to improve accuracy and efficiencies and continue to develop and improve new and existing standard operating procedures (SOP's)
• Collaborate with Group Surety colleagues in order to fully leverage MRS-NA surety capabilities and increase our customer base
• Manage all aspects of agency appointments and Power Of Attorney
• Develop and implement long term-strategic initiatives designed to support continued growth and expansion of the surety department

Benefits

• Health insurance coverage
• Employee wellness program
• Life and disability insurance
• 401k match
• Retirement savings plan
• Paid holidays
• Paid time off (PTO)

What This Job Offers

• Industry: Insurance Carriers and Related Activities
• Education Level: Bachelor's degree