Contract Surety Underwriter

3 months ago

Newark, United States IAT Insurance Group Full time

IAT Surety has an immediate opening for a Contract Surety Underwriter in Newark, New Jersey.This role will act to serve as a point member of our underwriting team, handling routine underwriting responsibilities including but not limited to the below, in a fashion consistent with the company policy and procedures. This involves interfacing with regional office Underwriters, various home office personnel, agents, and principals.This role works a hybrid schedule from an IAT Office.The hybrid schedule reflects our values (thinking and acting like an owner, collaboration, and teamwork) as it requires working from the office with colleagues and other disciplines Monday through Wednesday, with the option of working Thursday and Friday remotely.

Responsibilities

  • Financial and account analysis of pertinent financial data, authority, and referral requirements for consideration of new, existing and renewal business
  • Requesting and gathering financial information on assigned accounts
  • Bond renewal preparation and determination on whether bonds should be cancelled
  • Maintain Agency relationships and provide exceptional service and support. May have authority to underwrite low value bonds and renewals
  • Provide general direction to the Bond Underwriting Assistants for bond processing.
  • Provide quality recommendations to Branch and Home Office Reports on assigned accounts and agents
  • Rate and review bonds for premium and classification accuracy
  • Ensure accuracy and completeness of files and verify that all necessary documentation is complete in file
  • Act as the primary service contact and visit agents assigned by the Regional Manager in order to foster and maintain an ongoing relationship
  • Accurately communicate knowledge of assigned accounts to Branch and Home Office personnel via written and verbal means
  • Prioritize workflow to ensure work is done in a timely fashion and all deadlines are met
  • Perform other duties as needed
Qualifications:

Must-Have:
  • Bachelor's degree in Risk Management, Finance, Mathematics, Business, or related with at least 2 years experience in Contract Surety or equivalent
  • Equivalent is defined as 6 years of relevant Contract Surety underwriting experience
  • Credit/financial analysis will be considered in lieu of surety experience
  • Strong marketing skills and ability to obtain new business and work with contractor clients
  • Strong competency in quantitative and financial analysis
  • Requires strong math aptitude, excellent verbal and written communication, interpersonal and negotiating skills
  • Must be customer service oriented and have the utmost integrity
  • To qualify, applicants must be authorized to work in the United States and must not require VISA sponsorship, now or in the future, for employment purposes
Preferred to Have:
  • AFSB industry designation.
Our Culture

IAT is the largest private, family-owned property and casualty insurer in the U.S. Insurance Answers Together® is how we define IAT, in letter and in spirit. We work together to provide solutions for people and businesses. We collaborate internally and with our partners to provide the best possible insurance and surety options for our customers.

At IAT, we're committed to driving and building an open and supportive culture for all. Our employees propel IAT forward - driving innovation, stable partnerships and growth. That's why we continue to build an engaging workplace culture to attract and retain the best talent.

We offer comprehensive benefits like:
  • 26 PTO Days (Entry Level) + 12 Company Holidays = 38 Paid Days Off
  • 7% 401(k) Company Match and additional Profit Sharing
  • Hybrid work environment
  • Numerous training and development opportunities to assist you in furthering your career
  • Healthcare and Wellness Programs
  • Opportunity to earn performance-based bonuses
  • College Loan Assistance Support Plan
  • Educational Assistance Program
  • Mentorship Program
  • Dress for Your Day Policy


All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.We maintain a drug-free workplace and participate in E-Verify.

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