Advance your Underwriting career at Liberty Mutual Insurance- A Fortune 100 Company!

Liberty Mutual Surety has an excellent opportunity for an experienced Surety Underwriter to join our Home Office International and National Accounts team, aligned to the Central Region. In this role, you will perform home office underwriting duties for contract (primary), commercial and international bonds and will partner with field underwriters and agents within an assigned territory. We are looking for a self-motivated individual who preferably has international bonding experience combined with technical proficiency to underwrite publicly traded contract and commercial surety accounts.

In this specialty role, you will use your business and financial acumen to perform primary credit underwriting and risk analysis, provide recommendations, and make decisions on new and existing accounts. You will also be involved with the underwriting and placement of bond requests across the Central region. This position is located preferably in Plano, TX. Will consider KOP or alternate Surety Office location on a case-by-case basis.

Salary based on experience and location.

Liberty Mutual Surety is a global operating division of Liberty Mutual Insurance and the 2^nd largest and most admired Surety bond provider in the United States. Our global platform allows us to handle business worldwide through fronting relationships and Liberty owned subsidiaries, with bonds issued in over 40 countries, and offices in Mexico, Canada, Brazil, United Kingdom, Italy, France, Hong Kong, Australia, Germany, and across the United States. We specialize in providing contract surety bonds for construction firms, manufacturers and suppliers, and commercial surety bonds for corporations and individuals on an account and transactional basis. Our strong team of talented surety professionals is committed to providing unparalleled service to agents and customers, and to our value proposition of building mutually profitable relationships by providing smart business solutions, ease of doing business, and consistent, responsive service. Liberty Mutual is dedicated to the communities we serve and values highly a diverse workforce.

Responsibilities:

• Underwrites new and existing international reverse flow account submissions (contract & commercial) as well as domestic publicly traded contract accounts utilizing underwriting authority granted by Chief Underwriting Officer. Makes thorough evaluations and assessments of financial, technical, organizational, and management capacities, as well as a subjective judgment of character, normally based upon data/insights provided primarily by the field organization. In many cases, will meet with client to facilitate above assessments.
• Manage the placement of foreign bonds.
• Perform analysis of financial statements on both a static and trend basis to determine the financial position of complex risks; monitor financial position of those risks via analysis of interim financial statements and work in progress data as appropriate.
• Responsible for investigating, analyzing, and managing all necessary underwriting/accounting/work flow issues, within framework of LMS policies and procedures, arising on the most complex risks in the office. Some examples include, but are not limited to, multiple co- surety accounts, captive reinsurance programs, joint ventures, and international transactions.
• 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.
• 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 senior Home Office staff and Bond Managers in the field offices on a regular and timely basis. As directed by more senior staff, monitors marketing, underwriting and/or administrative issues within various offices, as assigned. Also, provides underwriting support and direction to less experienced underwriting staff.
• Effectively communicates issues of concern on new and existing business to the applicable field office product line underwriter and/or Bond Manager, as necessary. Diligently and conscientiously pursues resolution of open issues, documents end result and adjusts credit parameters extended to specific accounts based upon such facts as authorized. 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.
• May provide direction for topics to be addressed in meetings with agents, contractors and others, as necessary.
• Analyze statistical reports, claims data, and other financial exhibits, as directed by Manager. Prepare and implement instructions for administering work flows and accounting/billing issues to service unique situations. Participates or leads strategic workflow efforts in regards to policies and procedures with regard to international bonding.
• While existing underwriting guidelines are used in the decision-making process relative to all business transacted, effective underwriting at this level requires sound judgment, knowledge of accounting, legal and organizational/managerial disciplines to substantially enhance this ability.
• As necessary, collaborates with Claims staff to evaluate and/or resolve claim issues expeditiously and effectively, and if appropriate, takes immediate action to restrict credit on affected account. Keeps more senior underwriting staff informed of claims issues.
• Communicates with competitors on matters involving co-surety.
• Utilizes MIS applications to monitor the quality of existing business. Inputs data on accounts as necessary to complete or modify analyses and maintain lines of credit in a current and accurate manner. Coordinates and surfaces issues to field office product line underwriter and/or Bond Manager, on a regular and timely basis.
• Partners with field staff to identify, solicit, and contact significant producers in assigned territory under guidance from Bond Manager and more senior home office underwriting staff.
• Performs special projects and other duties as assigned.

Qualifications:

• BA/BS in Business Administration or related field typically required. A minimum of 7 years, typically 10 or more of progressively more responsible surety underwriting experience desired.
• Prior experience with international reverse flow and foreign bonds desired.
• Strong technical proficiency and experience working on large contract and/or commercial accounts with international surety highly desired.
• Demonstrates an understanding of jurisdictional and licensing issues pertaining to various countries.
• Understanding of fronted transactions and facultative reinsurance.
• Solid understanding of financial and accounting principals and the ability to demonstrate sound business judgment in the evaluation of the financial condition, credit history, experience and character of complex accounts.
• Proven analytical ability to evaluate and judge underwriting risks within scope of responsibility.
• Excellent communication and organizational skills as well as attention to detail.
• Ability to work independently and juggle many tasks simultaneously as well as a comfort level in interacting with people in small groups and social situations.
• Technically savvy and experienced with diverse computer applications.
• Ability to interact successfully with agents, brokers, CPAs, bankers, attorneys, etc. to build and maintain good business relationships.
• Able to travel up-to 30% or more, depending on location, including international travel.
• Salary based on level of experience and location.

Benefits:

We value your hard work, integrity and commitment to positive change. In return for your service, its 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.

Were 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.