Sr Terr Mgr, Bus Dev-Surety (Senior Territory Manager, Contract Surety)

Nationwide Rosemont , IL 60018

Posted 2 months ago

If you're passionate about becoming a Nationwide associate and believe you have the potential to be something great, let's talk.

Number 54 on the Fortune Magazine 100 Best Places to Work.


Please note that the job may be filled at either the Senior Territory Manager, Contract Surety or Territory Manager, Contract Surety level - depending on the qualifications and related experience of the chosen applicants.

  • Surety experience preferred, but other insurance-product underwriting or another risk-analysis experience may also qualify.

  • Responsible for analyzing, and managing all necessary underwriting work flow issues, within framework of Surety policies and procedures.

  • Bachelor's degree in Finance, Accounting or equivalent and a strong preference of 5 or more years surety underwriting experience and/or equivalent surety related business experience preferred.

  • AFSB certification will be a plus.

Compensation Grade: H.SD130

JOB SUMMARY: Primary relationship manager within the largest territories of surety business based on size, complexity and sophistication of agencies.

Markets, manages and underwrites a new and renewal surety book, through direct contact with select agencies or brokers. Drives profit and premium to meet financial goals and objectives through development, negotiation and execution of business plans. Leads and influences agencies through creation of sales strategies and implementation of sales processes and practices that drive new sales, increase shelf space, profit and customer retention.

Collaborates with all lines of business to support and increase the overall NW presence. Independently underwrites accounts based on authority level granted to the role and underwriting appetite.

Job Description

REPORTING RELATIONSHIPS: Reports to Manager or Director. No direct reports.


  • Monitors market conditions and confirms information gathered within market space. Researches risk, environment and factors necessary to win the account.

  • Performs analysis of the most complex accounts that require combining experience, intuition and business savvy to fully understand the landscape in order to make strategic territory and account decisions. Analyzes quality and quantity of risks underwritten ensuring that all variables are considered including financial statements, credit reports, bank and other underwriting documents. Analyzes regional underwriting performance experience, identifies problems on a territory level and proposes action plans to address/rectify those situations.

  • Achieves production, profitability and service objectives. Within delegated authority levels and company guidelines, accepts, rejects or modifies new surety business of a more complex nature to ensure profitability.

    Prices business according to company underwriting and pricing guidelines. Decisions at this level may require review of additional variables due to the account size, complexity and interactions necessary to influence the largest most sophisticated producers. Leverage agency relationships, underwriting tools and evaluation of exceptions and all other appropriate resources. Independently reviews for acceptability and handles those within level of authority using company underwriting guidelines and standards.

  • Manages workflow and intricacies of underwriting more complex assigned work, utilizing company tools and systems to meet service level agreements. Ensures file handling quality and workflow efficiency with a thorough understanding of overall surety strategic direction and operating plans. Manages large, complex work and coordinates work with and through others to meet service level agreements.

  • Drives robust agency business planning to deliver detailed performance plans with actions, account abilities and scheduled performance checkpoints. Ensures strong territorial objectives to maximize profit and pipeline management.

    Proactively identifies opportunities for all lines to cross sell and refers to appropriate business leaders. Planning considerations include sophistication of partners, organizational complexities and larger opportunities that must be mined, promoted and negotiated. Plans and coordinates the efforts of the surety team regarding new business and renewals. Identifies prospects and recommends new agency appointments.

  • Markets company's products and services to help drive agency and company results, including all enterprise products that may enhance offerings. Assists agency with strategies for pipeline management and to develop new business in targeted industries and preferred markets. Responds effectively to assess accounts and develop business propositions that win the business.

  • Proactively consults with agents, accounts and internal partners to provide underwriting recommendations and develop business solutions. Shares understanding of organizational capabilities and opportunities to drive maximum value of relationships.

    Consults regarding the appetite, acceptability, terms, conditions, pricing and sales techniques of large or unique business. Provides industry trend observations to leadership. Consults with agencies to improve retention and profitability.

    Proactively identifies and consults on strategies to develop new business and maximize growth and profit.

  • Effectively communicates with agencies to establish the company as the provider of choice for the territory for all enterprise products with an emphasis on surety. Communicates product, technology changes and company objectives.

    Communicates market intelligence to agencies and leadership. Ensures that communication is shared across all key agency partners at all levels in complex environments. Communicates and collaborates actively with team members and leadership to share industry trends, and field underwriting experience.

  • Completes agency visits, as appropriate, to develop new accounts, service existing accounts, review agency performance and enhance agency relationship. Develops and maintains strong business relationships with agencies, producers and key groups.

  • Leads delivery of appropriate customer service levels. Follows up and ensures proper handling of escalated customer service requests.
    11.Ensures that tools, training and support are in place to positively impact success for assigned agencies. Identifies and communicates training needs and opportunities. May assist in the development or training delivery as a subject matter expert. Participates in program and product orientation meetings in conjunction with Sales/Marketing partners as the underwriting subject matter expert. Provides professional development knowledge and insight to team members. May help mentor new territory managers and provide coaching.

  • Proven ability to manage heavy workload effectively and backup other team members as needed. Monitors business plan results to determine performance and development of any action plans to ensure alignment with underwriting philosophies, standards and performance expectations.

    Reviews business in process, lost business and drives implementation of business plan. Ensures that unique agency business capabilities are assessed and emphasized as a competitive advantage.

  • Performs other duties as assigned.


Education:Undergraduate degree in business or a related field preferred.

License/Certification/Designation: Pursuit of technical insurance coursework such as AFSB is highly desirable.

Experience: Ten years of progressively responsible surety underwriting experience preferred. Expertise in markets consistent with our underwriting appetite and product portfolio preferred.

Thorough knowledge of surety value proposition and ability to communicate to bond producers and principals.

Working knowledge of state laws and regulations required. Expert level of knowledge of surety underwriting and is familiar with surety forms and the requirements of the territory. Thorough working knowledge of company marketing/underwriting standards and philosophies.

Excellent knowledge of surety products and programs in order to teach aspects of material to others. Strong knowledge of effective sales, marketing and agency relationship management techniques.

Skills/Competencies: Excellent interpersonal and sales skills.

Ability to build and maintain cooperative and mutually rewarding internal and external partnerships. Must have the ability to perform duties with independent judgment with underwriting authority and company underwriting standards. Demonstrated decision-making ability required in day-to-day operations where there may be unclear or competing priorities, including evaluating and recommending solutions to customer service, work processing, underwriting selection and rating and best practices compliance.

Must have the ability to determine situations where additional support is needed to create alignment for decisions. Must have a strong drive for results.

Other criteria, including leadership skills, competencies and experiences may take precedence.

Staffing exceptions to the above must be approved by the hiring manager's leader and HR Business Partner.

Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.


Overtime Eligibility: Not Eligible (Exempt).

Working Conditions: Extended and/or non-standard work hours may be required as well as extensive travel in the field.

May require the ability to relocate. A valid driver's license and safe driving record are required.

ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.

Credit Check: N/A.

Safety Sensitive (SS): N/A.

Job Evaluation Activity:KMP 12-2015

Additional Job Description

Job ID: 51164


See if you are a match!

See how well your resume matches up to this job - upload your resume now.

Find your dream job anywhere
with the LiveCareer app.
Download the
LiveCareer app and find
your dream job anywhere

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Sr Cons Staff Surety Und (Senior ConsultantStaff Surety)


Posted 3 weeks ago

VIEW JOBS 10/24/2018 12:00:00 AM 2019-01-22T00:00 If you're passionate about becoming a Nationwide associate and believe you have the potential to be something great, let's talk. Number 54 on the Fortune Magazine 100 Best Places to Work. ADDITIONAL INFORMATION ABOUT THIS POSTING – PLEASE READ CAREFULLY Information above the asterisks is specific to this opening, while the information below the asterisks is the corporate job description for this position. * Contract surety and/or Fidelity experience is not required. * 10 years of experience in Large Commercial Surety underwriting including at least 5 years of managing underwriting teams. * AFSB designation is preferred. * Requires frequent client interaction with up to 25% travel. * Extensive knowledge of the various bond requirements relating to the Oil and Gas industry. * Work closely with Large Commercial Surety leadership in overall strategic direction. * Excellent technical, communication and interpersonal skills. * Proven relationships with global and regional distribution partners. Compensation Grade: H3 Single point of contact for regional leaders; supports the contract surety underwriting team by setting strategy and guidelines to support production and profitability goals as well as to help identify and develop overall marketing strategy. Works with regional underwriting teams on the largest, most complex accounts. Deepens relationships with key agents and large accounts. Job Description REPORTING RELATIONSHIPS: Reports to AVP; No direct reports. CORE JOB DUTIES & RESPONSIBILITIES: * Conducts detailed research on all aspects of the surety underwriting market segment to help make policy and practice decisions. Gathers information from multiple sources according to company guidelines, in order to perform underwriting analysis. May require gathering verbal information or data through reports or other electronic means. * Analyzes performance of portfolio as well as individual account performance and develops appropriate action to drive growth based on analysis. Evaluates the largest and most complex underwriting risks in the assigned market segment. * Supports the contract surety underwriting program by providing guidance and support. Develops and maintains contract surety underwriting guide and makes changes when necessary. Prepares files for review by Surety officer for accounts outside of NSF authority limits or reinsurance treaty exceptions. * Manages underwriting processes of regional office staff, developing and implementing best practices, seeking continuous process improvement and efficiency gains. * Manages underwriter authority statements, recommending authority levels to AVP. * Tracks monthly production activity to provide DWP growth estimates to leadership. * Helps develop state expansion plans, including rate filings, system availability and agent segmentation and appointment process. * Leads annual agent segmentation process to help identify Premier and Partner agents to help develop underwriter focus and create individual marketing plans. * Supports directors with underwriting activities, providing guidance and support. Leads underwriting file audits, reporting findings and suggestions to directors and AVP. * Provides support for annual production goals by region and state. Participates in annual budget forecasting. * Works with P&C sales and underwriting groups to align strategies to support enterprise growth. * Provides industry updates; including competitive intelligence, recent court cases, and shares with underwriting teams. Suggests and implements changes to underwriting philosophy based on changes in market conditions. * Develops and maintains open and effective communications with leadership, other underwriting management, sales/agents, and other field/home office operations on a formal and informal basis. Travels with staff to deepen relationships with key agents and large accounts. * . Assists in setting operational expectations, goals, and strategies. Ensures appropriate service levels are achieved and provides guidance when necessary. Follows up on and ensures proper handling of escalated customer service requests. Assists in the development and communication of NSF Value Proposition. Helps develop marketing materials for agent visits and conventions. * Works in partnership with underwriting leaders to develop and manage the training of associates to ensure a high degree of competency and professionalism. Performs other duties as assigned. MINIMUM JOB REQUIREMENTS: Education: Undergraduate degree in business administration, insurance, risk management, economics or finance preferred. License/Certification/Designation: Actively pursuing of AFSB, CPCU or other related insurance certification desired. Experience: Ten years experience in contract surety underwriting including at least five years management or consultant experience. Knowledge: Commercial Surety & Fidelity Products, credit/collections, rating, and related functions; and surety customer environment and markets. Also requires extensive knowledge of surety underwriting best practices, field underwriting operations, and day-to-day underwriting operational needs. Familiarity with other lines of business preferred. Skills/Competencies: Demonstrated decision-making ability required in day-to-day operations involving the evaluation and recommendation of solutions to underwriting issues, customer service issues, underwriting selection and rating problems, and best practices compliance. Ability to manage and lead associates in all aspects of contract surety operations. Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors. Staffing Exceptions to the above Minimum Job Requirements must be approved by the: hiring manager's leader and HRBP. JOB CONDITIONS: Overtime Eligibility: Not Eligible (exempt) Working Conditions: Normal office environment with travel expected. May require valid driver's license. ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties. Job Evaluation Activity: KMP 10/2015 Additional Job Description Job ID: 53431 #nationwide Nationwide Rosemont IL

Sr Terr Mgr, Bus Dev-Surety (Senior Territory Manager, Contract Surety)