Surety Underwriting Consultant
Advance your Underwriting career at Liberty Mutual Insurance- A Fortune 100 Company!
Liberty Mutual Surety™ is currently recruiting for a Surety Underwriting Consultant to join our Surety Plus team in the Midwest Region.
As a Consultant, you will market, underwrite, and service independent agents, brokers, and small-mid 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.
- 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 small to mid-sized 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/workflow 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 workflows and accounting/billing issues to service unique situations.
- May mentor more junior staff based on level.
- Performs special projects and other duties as assigned.
- Bachelor's degree in Finance, Accounting or equivalent and a minimum of 3 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.
A little about us
At Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession.
Liberty Mutual has proudly been recognized as a Great Place to Work by Great Place to Work® US for the past several years. We were also named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduatesas well as one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-inclusion
We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits
Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.