SDI Underwriting Specialist
Reviews new and existing Subcontractor Default Insurance (SDI) risks submitted by assigned product line underwriters to confirm compliance with Liberty Mutual Surety`s underwriting strategies, guidelines and marketing objectives. Utilizes objective perspective to identify omissions in underwriting detail, if any, confirm attributes and/or weaknesses, and make recommendations to the underwriter, with primary objective of achieving profitability for the department. Supports underwriters with underwriting efficiencies, process, and deficiencies and makes recommendations to more senior staff / manager, as applicable.
Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, is the worlds largest global Surety, including in the United States. 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.
With some guidance from senior staff / manager, supports the underwriting of new and existing SDI account submissions of virtually all sizes and complexities utilizing underwriting authority granted by Chief Underwriting Officer. Makes thorough evaluations and assessments of account's operational, financial, technical, organizational, and management capacities as well as a subjective judgment of character, normally based upon data/insights provided by the field organization only. May meet with the client to facilitate the above assessments. Monitors existing books of business from an underwriting standpoint, as assigned. Continuously evaluates the qualitative characteristics of new and existing SDI accounts. Assesses and identifies changes in all aspects of the business including culture, work program, operational controls, subcontractor prequalification and management, financial strength criteria, nature of work performed (inherent risk), accuracy and timeliness of data flow, and exposure analyses. Coordinates and surfaces issues to more senior staff / manager on a regular and timely basis. As directed by more senior staff / manager, monitors marketing, underwriting, and administrative issues, as assigned. Will provide underwriting support and direction. Effectively communicates issues of concern on new and existing business to the applicable underwriter, as necessary. Diligently and conscientiously pursues resolution of open issues, documents end result, and makes recommendations for adjustments to parameters extended to specific accounts based on such facts. In connection with policy parameter recommendations which fall outside of normal underwriting standards, applies sound reason and business logic to reach a decision. Effectively documents such logic in file and communicates to more senior staff / manager, as necessary. Effectively collaborates with Claims staff to evaluate and resolve claim issues expeditiously and effectively. Keeps more senior underwriting staff / manager informed of claims issues. Utilizes various systems, applications, tools, dashboards, and data to monitor the quality of existing business. Inputs data on accounts to complete or modify analyses. Participates in special projects as requested/assigned.
- BA/BS in Business Administration or related field typically required
- A minimum of 5 years experience expected, typically 7 or more years surety underwriting experience and/or equivalent surety related experience with progressive responsibility, desired
- Strong analytical abilities and decision-making skills to evaluate and judge underwriting risks within scope of responsibility
- Demonstrated ability to communicate complex analyses and information in understandable written and/or oral directives to other persons for underwriting or training purposes
- Must demonstrate comprehension of complex technical underwriting issues and be capable of defining and implementing necessary underwriting and administrative processes/work flows to properly manage or administer those issues
- Strong negotiating, written and verbal communication skills are required
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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 selected as one of the 100 Best Places to Work in IT on IDG's Insider Pro and Computerworld's 2020 list. For many years running, we have been 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
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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.