Surety Underwriter - Large Commercial

Liberty Mutual Insurance•Chicago, IL

3d•$65,000 - $154,000•Hybrid

About The Position

Liberty Mutual Surety is seeking a Surety Underwriter for their Large Commercial Chicago team. This role involves developing and underwriting profitable surety business and servicing independent agents, brokers, and commercial accounts within an assigned territory. The underwriter will build and maintain positive partnerships, act as a trusted advisor, and perform primary credit underwriting, financial/risk analysis, and decision-making on new and existing accounts. This is an opportunity for an experienced surety professional to grow their career with a company that prioritizes employees and customers. Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, is a global leader in surety, providing bonds in over 60 countries for various enterprises. They are committed to building profitable relationships through smart business solutions, ease of doing business, and responsive service, and value diversity in their workforce.

Requirements

Degree in Business or equivalent typically required
A minimum of 1.5 years, typically 2 or more years, of surety UW experience and/or other related experience
Proven analytical ability to evaluate and judge underwriting risks within scope of responsibility that includes competence with all phases and aspects of the underwriting process and proficiency in the use of qualitative and quantitative tools and techniques
Must demonstrate comprehension of complex technical underwriting issues and be capable of defining and implementing necessary underwriting and administrative processes/workflows to properly manage or administer those issues
Proven track record of developing and underwriting profitable Surety business

Responsibilities

Underwrite and negotiate accounts to maximize profitability whilst minimizing risk, which may include the most complex accounts based on level of role.
Makes thorough evaluations and assessments of a customer’s financial, technical, organizational, and management capacities, including experience, desired objectives as well as a subjective judgment of character.
Manage the profitability and retention of an assigned book of business while continue to develop the portfolio through strong relationships and active engagement with new and existing agents and brokers.
Performs analytical evaluations of financial statements on both a static and trend basis.
Determines the present and historical financial position of accounts and monitors financial position of risk through analysis of quarterly statements and work in progress data as appropriate.
Stay abreast of Liberty Mutual Surety and Global Risk Solutions product lines and identify/promote opportunities across with agents and brokers, leveraging domestic and global capabilities.
Responsible for investigation, analyzing, and managing all necessary underwriting/accounting/workflow issues, within framework of Surety policies and procedures.
May assess and identify changes in all aspects of the business including, but not limited to, work program to financial strength criteria, nature of work performed (inherent risk), accuracy and timeliness of data flow, and exposure analyses.
Coordinate and surface issues to Home Office Underwriters and Field Management.
Assists in the evaluation of business continuity arrangements and funding mechanisms (such as adequacy of life insurance) to preclude financial drain of customer in the event of the demise of (an) owner or other insurable loss.
May mentor more junior staff based on level.
Performs special projects and other duties as assigned.