Avp, Sr. Underwriter- Surety

Aspen Insurance Holdings Limited Chicago , IL 60602

Posted 2 months ago

Description

Position Summary:

Responsible for successfully supporting the surety needs of Fortune 1000, publicly traded and large privately held companies. Delivers results by understanding the unique needs and challenges of our clients' business, taking a thoughtful solutions-oriented approach to the underwriting process, and working in partnership with our dedicated Surety Legal/Claims Group. Must be able to demonstrate proven ability to independently handle a portfolio of diverse and complex surety accounts with minimal supervision.

Responsibilities:

  • Independently develop relationships with assigned brokers in order to develop new business in line with Department strategy and goals, including identification and appointment of select new brokers where warranted.

  • Establish and communicate premium objectives with target brokers.

  • Participate in Regional annual premium target budgeting process and maintain responsibility for achieving individually assigned financial goals within the team.

  • Establish marketing plans for accounts within assigned portfolios.

  • Assist Regional Management in maintaining effective competitive landscape intelligence.

  • Review, negotiate and accept or decline submitted business using assigned underwriting authority and working with Regional Surety Department Senior Management (Regional SVP/VP, Department Global EVP) and others where additional authority or approvals are needed.

  • Adhere to Aspen Surety Aspen Underwriting Principles (AUP) and Policy Pricing Document (PPD) standards as respects underwriting, pricing, file maintenance and account monitoring.

  • Independently negotiate complex General Agreement of Indemnity issues working closely with Aspen Surety Legal/Claims professionals

  • Mentor less senior team members including trainees that may be assigned to the respective region

  • Maintain account information in electronic file cabinet (EFC) by e-filing e-mail and other pertinent documents in real time.

  • Maintain account information in the Aspen Bond System (ABS) including critical data points that support accurate reporting (account and agency demographics, account rating, limits, indemnity type, cost to complete, account financial statements, internal and S&P rating).

  • Support market associations as warranted by attending important events (NASBP, SFAA, RIMS).

  • Contribute to and work with various Aspen initiatives and Department staff.

  • Support Surety team Associate Underwriting staff by maintaining accurate up to date information including rate and commission data points in support of booking process.

  • Review monthly Department control reports for accuracy of data including bond booking linecards

Education/Exprerience:

  • Bachelor's Degree, required; Advanced degree is desirable.

  • AFSB designation is desirable.

  • Experience with Surety underwriting practices and procedures, required

  • Associated classes or courses and/or industry license, or designation is desirable.

  • 6-8 years Surety experience, required.

  • Solid verbal and written communication skills.

  • Ability to present complex topics to an audience.

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Avp, Sr. Underwriter- Surety

Aspen Insurance Holdings Limited