Underwriting Manager, Transactional Surety

Arch Capital Group•Jersey City, NY

2d•Hybrid

About The Position

This position is responsible for the overall profit and growth of the Northeast region. It involves overseeing underwriting activities, establishing a marketing plan, and managing marketing activities for the territory. The role also includes managing producers within the territory, overseeing premium collections, and assisting in the preparation and implementation of the business plan and budget for the region.

Requirements

Bachelors or higher degree in Finance/Accounting, or Management or equivalent work experience in a related field.
Financial Statement Analysis expertise.
At least 5-10 years of relevant experience.
Strong oral and written communication skills.
Sales and negotiation skills.
Organization and prioritization required to meet multiple demands and commitments.
Strong computer skills including proficiency in Microsoft Office software products.

Nice To Haves

Prior experience with Bloomberg and Moody's Risk Analyst is a plus.
Prior experience in financial and credit risk assessment and evaluation is preferred.

Responsibilities

Conduct monthly meetings with agents and brokers from the assigned customer base and territory to solicit business submissions via marketing efforts and educate agency representatives on Arch Surety’s policies, procedures, appetite, and requirements.
Act in a consultative capacity, discussing or reviewing agency accounts and performance.
Underwrite new and existing account submissions utilizing underwriting authority granted by Senior Commercial VP. May handle the most complex accounts based on the level of the role.
Make thorough evaluations and assessments of a customer’s financial, technical, organizational, and management capacities, past experience, desired objectives, as well as a subjective judgment of character, normally based upon data. Occasionally meet with applicant/principal to facilitate these assessments.
Actively market, train, and become a subject matter expert on Arch’s Online portal, including answering and assisting portal users in all aspects of the online portal.
Perform analytical evaluations of financial statements, Dun and Bradstreet, Moody’s, or any other financial document on both a static and trend basis.
Determine the present and historical financial position of the account and monitor the financial position of risk through analysis of quarterly statements and work-in-progress data as appropriate.
Develop and maintain strong relationships with agents/brokers and oversee a book of Surety business within the defined territory.
Meet production, marketing, and profitability goals as set by Senior Manager and assist in developing the marketing plan.
Actively seek new appointments with Surety professionals.
Stay informed about all Commercial and Contract Surety product lines and identify cross-selling opportunities with agents, engaging or referring appropriate parties as necessary.
Investigate, analyze, and manage all necessary underwriting/accounting/work flow issues within the framework of Surety policies and procedures.
Monitor an existing book of business from an underwriting standpoint.
Continuously evaluate the qualitative characteristics of the business (new and existing) as assigned.
Apply sound reason and business logic to reach decisions authorized in connection with credit recommendations that fall outside of normal underwriting standards.
Effectively document such logic in the file and communicate to more senior Home Office underwriting, as necessary.
Provide direction for topics to be addressed in meetings with agents, customers, and others, as necessary.
Learn to weigh decisions between underwriting standards and customer needs and expectations.
Assist in collecting past due premiums on agencies.