Account Executive Officer, Commercial Surety Underwriting

The Travelers Companies Richardson , TX 75080

Posted 2 months ago

Company Information

Solid reputation, passionate people and endless opportunities. That's Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers - and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.

Target Openings

1

Job Description Summary

Under limited supervision, responsible for the production and retention of a profitable book of business within an assigned territory that is consistent with overall Bond and Specialty Insurance/Business Unit (BU) strategy and objectives.

Primary responsibilities include: Underwriting new and renewal business Building and maintaining productive relationships with agents and brokers Consistently achieving superior budgeted financial results Collaborating with BU and region colleagues as well as internal/external business associates Sales, agency development and management Portfolio management at the BU strategy level The majority of the time will be spent managing a book of business Those in this role have the highest level of technical and sales expertise in the region/group and are seen as experts across the business unit (beyond region/group)

This job does not manage others.

Primary Job Duties & Responsibilities

Underwriting & Pricing:

  • Underwrites and assesses risk for large renewals and new business items in conjunction with BU strategies.

  • Considers different approaches toward risks to maximize profitability.

  • Makes appropriate decisions within own underwriting authority.

  • Underwrites the most demanding and most complex accounts/risks.

  • Manages the submission and underwriting process for own agency plant.

  • Is a region/group resource for less experienced underwriters.

  • Can easily articulate whether or not account is within or outside underwriting appetite/strategy, along with the reasons for that determination.

  • Is seen as a teacher to less experienced underwriters regarding appetite/strategy.

  • Independently sets account strategy, and may partner with MD to set strategy for the group/Regional BU.

  • Makes recommendations to underwriter 2, as appropriate.

  • As Underwriter 2, assure that policies and accounts are effectively underwritten handled and documented in compliance with Business Unit and regulatory standards and requirements.

  • Calculates key ratios and the most complex financial metrics, drawing conclusions about the financial health of an account.

  • In addition to, or in lieu of, financials, may review other key metrics; makes decisions regarding pricing, capacity, terms and conditions based on those analyses on the most complex accounts.

  • Proactively collaborates with regional and Home Office underwriters.

  • Maintains accurate underwriting documentation and information.

  • Meets quality assurance standards.

  • Is a region/group resident expert and is seen as a leader in the marketplace/agency plant. May be seen as an industry expert.

Underwriting Operations:

  • Manages flow of new and renewal business.

Agency Management/Relationship:

  • Leads agency training sessions. Is sought out by broker/agent for his/her expertise regarding industry and local issues.

  • Primary agency or broker relationship is producer / internal broker.

Sales Management/Marketing:

  • Leverages agent/broker relationships to drive new business opportunities via existing relationships as well as where there is no existing relationship; continually prospects for new opportunities.

  • Achieves and/or surpasses agency/broker visibility goals.

  • Acts as a business partner to agents and brokers. Uses strong negotiation skills and deep product knowledge to meet the needs of the account.

  • Develops agency plant sales/business plan and may partner with MD to develop region/group sales plan. Sales activities include the largest and most important agency/brokers/clients.

  • Leads underwriting/agency meetings.

  • Actively contributes in Region and/or Business Unit sales meetings and may lead those meetings.

  • Regularly attends agency/broker events and/or industry functions. May play a leading role.

  • Takes the initiative to partner with colleagues in other Bond and Specialty Insurance or Travelers BUs to cross sell all Travelers products.

  • Is seen as a leader by peers in other BUs.

  • Coaches / mentors less experienced employees on a regular basis.

  • Has advanced knowledge of analytics and tools and applies that knowledge to sales and pricing (if applicable) of accounts.

  • Coaches others in the aspects and use of those analytics and tools.

Other duties as assigned

Minimum Qualifications

  • A minimum of 4 years of underwriting experience is required.
  • A current/valid drivers license is required.

Education, Work Experience, & Knowledge

  • 6 years of underwriting experience preferred.

  • Bachelor degree preferred.

Industry Knowledge:

  • Understands industry business operations and work methods, critical business issues and financial drivers that affect the Company, BU, region and local office.

  • Demonstrates an understanding of the local insurance marketplace and effectively uses that knowledge to Travelers advantage; continuously seeks out local market insight from others; is routinely sought out by others as a knowledge resource; coaches / mentors less experienced employees on a regular basis.

Product Knowledge:

  • Resident expert on BU products/coverages and pricing and the links to strategy. Is routinely sought out by others as a knowledge resource; coaches / mentors less experienced employees on a regular basis.

  • Understands organizational and regulatory rules, policies and procedures and effectively employs that knowledge in day-to-day work.

Licensing or Certificates

  • A current/valid drivers license is required.

Job Specific Technical Skills & Competencies

  • Able to use all Bond and Specialty Insurance technology tools proficiently.

  • Resolves significant conflict within and outside the organization without damaging relationships; is routinely sought out by others as a knowledge resource; coaching / mentors others regarding successful negotiations.

  • Takes ownership and responsibility for actions and outcomes, performance and results.

  • Identifies current or future problems or opportunities, analyzes, synthesizes and compares information to understand issues, identifies cause/effect relationships and explores alternative solutions to support sound decision making.

  • Remains energized and focused in the face of ambiguity, change or strenuous demands.

  • Demonstrates effective verbal, written and listening communication skills.

  • Provides service excellence to internal or external clients.

  • Exercises sound judgment, makes decisions and commits to a position.

  • Works with and includes people from different backgrounds, experiences, cultures, races, etc. and views those differences as assets to be leveraged to accomplish business goals and objectives.

  • Seeks out, builds, fosters and maintains productive relationships, networks or alliances to meet goals and achieve results.

  • Works together in situations when actions are interdependent and a team is mutually responsible to produce a result.

  • Takes ideas different from own seriously; shares responsibility and collaborates with others; accepts criticism well; doesn't assume a single best way.

  • Has an accurate picture of strengths and weaknesses and is willing to improve.

  • Seeks out experiences that may change perspective or provide an opportunity to learn new things.

  • Provides good role model for employees and keeps a positive attitude.

  • Acts in accordance with stated values; follows through on promises; uses ethical considerations to guide decisions and actions.

Environmental / Work Schedules / Other

  • Requires travel minimum 30% of time.

  • Operates standard office equipment.

  • Requires extended periods of computer use.

  • Requires extended periods of sitting.

Equal Employment Opportunity Statement

Travelers is an equal opportunity employer.

Travelers is an equal opportunity employer.


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Account Executive Officer, Commercial Surety Underwriting

The Travelers Companies