Underwriting Development Program: Surety - Construction Services

The Travelers Companies Phoenix , AZ 85002

Posted 3 months ago

Primary Job Duties & Responsibilities

Underwriting & Pricing: Learn the Bond and Specialty Insurance business and how to underwrite (Risk Assessment, Financial Analysis, and decision making skills) for Bond and Specialty Insurance and accounts in a Business Unit.

Assist in Underwriting and pricing accounts in accordance with business strategies. Formulate and communicate recommendations based on learned underwriting skill. Gain an understanding of key Business Unit strategies and how to execute them.

Learn how to perform financial analysis consistent with Business Unit standards Underwriting Operations: Learn the workflow, guidelines and processing steps associated with the BU underwriting platform(s) Sales Management/Marketing: Begin to develop relationships with clients to establish the foundation to interact and effectively deal with account issues.

Learn how to develop productive agency/client relationships in support of business objectives through a disciplined sales management approach and training (i.e., planning and follow-up for agent/broker and prospective end customer visits/meetings) in support of business objectives. Learn how to effectively execute sales plan. Develop relationships with Home Office.

Attend Hub Business Unit meetings as part of on the job training. Develop strong customer service skills (consistency, quick response, knowledge of products). Learn about the potential uses of analytics and tools to assist in the sales and pricing (if applicable) of accounts. Other duties as assigned.

Job Specific & Technical Skills & Competencies

Ability to use all Bond and Specialty Insurance technology tools proficiently. 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; does not 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.

Job Summary

Works under direct supervision. As a participant in a structured training program which combines formal classroom and on-the-job-training, is actively learning about Bond and Specialty Insurance underwriting philosophy, products and strategies.

In addition, Trainees begin to establish relationships and develop entry-level sales skills. As knowledge increases, Trainees are given more responsibility within a line of business and may be given small / renewal accounts to underwrite. Specific responsibilities include:

Training / learning in the areas of underwriting, strategy, and sales. Learning to produce and underwrite new and renewal business in a Business Unit including building and maintaining productive relationships with assigned agents/brokers. Learning to interact and collaborate with a team of Business Unit colleagues. This job does not manage others.

Education, Work Experience & Knowledge


Bachelor degree preferred. Entry level position.

Industry Knowledge:

Gain overall understanding of all Bond and Specialty Insurance Business Units and Travelers businesses. Product

Knowledge:

Gain an understanding of Bond and Specialty Insurance workflow. Learn and develop Product knowledge. Learn documentation procedures/standards

Physical Requirements

Operates standard office equipment. Requires extended periods of computer use. Requires extended periods of sitting.

Minimum Qualifications

Bachelor degree or one year of relevant business experience required. A current/valid drivers license is required.



icon no score

See how you match
to the job

Find your dream job anywhere
with the LiveCareer app.
Mobile App Icon
Download the
LiveCareer app and find
your dream job anywhere
App Store Icon Google Play Icon
lc_ad

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
Surety Underwriting Specialist

Liberty Mutual

Posted 3 weeks ago

VIEW JOBS 5/3/2020 12:00:00 AM 2020-08-01T00:00 Advance your Underwriting career at Liberty Mutual Insurance- A Fortune 100 Company! Liberty Mutual Surety™ is currently recruiting for a Surety Underwriting Specialist to join our Surety Plus team in our Southwestern Region. As a Surety Underwriter you will market, underwrite, and service independent agents, brokers, and contract surety accounts within an assigned territory. Using your excellent rapport building skills, you will build and maintain positive relationships and will market to your territory focusing on relationship building rather than transactional sales. You will also use your business and financial acumen to perform primary credit underwriting and financial/risk analysis, provide recommendations, and make decisions on new and existing accounts. This is an excellent opportunity for an experienced and self-motivated surety professional looking to grow their career with a top surety company that focuses on its employees and customers first. Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, is the 2nd largest Surety in the United States and a leading global surety. Conducting business worldwide through fronting relationships and Liberty-owned subsidiaries, we provide bonds in over 60 countries for construction firms, manufacturers and suppliers, and commercial enterprises on an account and transactional basis. We are committed to building mutually profitable relationships by providing smart business solutions, ease of doing business, and consistent, responsive service. Liberty Mutual Surety is dedicated to the communities we serve and highly values a diverse workforce in more than 16 countries. Responsibilities: * Meets with agents and brokers from assigned customer base/territory to solicit business/submissions via marketing efforts and educate agency representative(s) on Liberty Mutual Surety policies, procedures, appetite, and requirements. Act in a consultative capacity and discuss/review agency accounts and performance. * Underwrites new and existing account submissions utilizing underwriting authority granted by Chief Underwriting Officer. May handle most complex accounts based on level of role. Makes 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/insights. In many cases, will meet with client to facilitate above assessments. * Performs analytical evaluations of financial statements on both a static and trend basis. Determines the present and historical financial position of the account and monitors financial position of risk through analysis of quarterly statements and work in progress data as appropriate * Develop/maintain strong relationships with agents/brokers and oversee a book of Contract Surety business within defined territory. Meets production, marketing, and profitability goals as set by manager and assist in developing marketing plan. * Stay abreast of Liberty Mutual Surety product lines and identify cross-selling opportunities with agent, engaging/referring appropriate parties as necessary. * Responsible for investigation, analyzing, and managing all necessary underwriting/accounting/work flow issues, within framework of Surety policies and procedures. * Monitor an existing book of business from an underwriting standpoint. Continuously evaluates the qualitative characteristics of the business (new and existing) as assigned. Examples include utilization of self-audit programs, financial ratio analysis report. Makes recommendations to Manager for proper lines of authority to be submitted to Home Office. Monitors and controls utilization of such lines to ensure compliance with guidelines. * 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 more Home Office staff and Bond Managers * 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. * In connection with credit recommendations which tend to fall outside of normal underwriting standards, applies sound reason and business logic to reach decision as authorized. Effectively documents such logic in file and communicates to more senior Home Office and Field underwriting staff, as necessary. * Provide direction for topics to be addressed in meetings with agents, customers and others, as necessary. * Prepare and implement instructions for administering work flows and accounting/billing issues to service unique situations. * May mentor more junior staff based on level. * Performs special projects and other duties as assigned. Qualifications: * Bachelor's degree in Finance, Accounting or equivalent and a minimum of 5 years' experience expected, preferably 7 or more years surety underwriting experience and/or equivalent surety related business experience . Strong preference with the contract Surety product line. * Solid understanding of financial and accounting principles and the ability to demonstrate sound business judgment in the evaluation of the financial condition, credit history, and character of contract accounts. * Proven analytical ability to evaluate and judge underwriting risks within scope of responsibility. * AFSB certification preferred * Demonstrates strong ability to communicate complex analyses and information in understandable written and/or oral directives for underwriting or training purposes. * Demonstrates strong communication and interpersonal skills in dealing with agents, brokers, CPAs, bankers, attorneys, etc. required to build & maintain good business relationships. * Excellent organizational skills as well as attention to detail. * Salary and level based on experience and location. Benefits: We value your hard work, integrity and commitment to positive change. In return for your service, it's our privilege to offer you benefits and rewards that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits Overview: At Liberty Mutual, we give motivated, accomplished professionals the opportunity to help us redefine what insurance means; to work for a global leader with a deep sense of humanity and a focus on improving and protecting everyday lives. We create an inspired, collaborative environment, where people can take ownership of their work; push breakthrough ideas; and feel confident that their contributions will be valued and their growth championed. We're dedicated to doing the right thing for our employees, because we know that their fulfillment and success leads us to great places. Life. Happiness. Innovation. Impact. Advancement. Whatever their pursuit, talented people find their path at Liberty Mutual. Liberty Mutual Phoenix AZ

Underwriting Development Program: Surety - Construction Services

The Travelers Companies