Lead Surety Underwriter

1 week ago

Seattle, Washington, United States Liberty Mutual Full time
Compensation Philosophy
The initial salary range for this position is influenced by various factors such as expertise, experience, educational background, certifications, and geographical location. The comprehensive salary range reflects the competitive market value for all individuals in these roles across the national landscape and offers opportunities for advancement as employees evolve within their positions. Certain roles at Liberty Mutual may have associated compensation structures that could include commission and/or bonus earnings, which vary based on multiple criteria outlined in the compensation framework for the position.

Position Overview
Liberty Mutual SuretyTM is actively seeking a Surety Underwriter to become part of our contract team.

In the role of Surety Underwriter, you will engage in marketing, underwriting, and servicing independent agents, brokers, and contract surety accounts within a designated territory. Leveraging your exceptional relationship-building abilities, you will cultivate and sustain positive connections, prioritizing relationship development over transactional sales. Additionally, you will apply your business and financial expertise to conduct primary credit underwriting and financial/risk assessments, offering recommendations and making informed decisions regarding both new and existing accounts. This position presents an excellent opportunity for a seasoned and driven surety professional eager to advance their career with a leading surety organization that prioritizes its employees and clients.

Liberty Mutual Surety, a division of Liberty Mutual Insurance, stands as the world's largest global surety provider, including operations within the United States. We conduct business internationally through fronting relationships and Liberty-owned subsidiaries, offering bonds in over 60 countries for construction firms, manufacturers, suppliers, and commercial enterprises on both account and transactional bases. Our commitment lies in fostering mutually beneficial relationships by delivering intelligent business solutions, simplifying processes, and ensuring consistent, responsive service. Liberty Mutual Surety is dedicated to the communities we serve and places a high value on a diverse workforce across more than 16 countries.

Key Responsibilities:
  • Engage with agents and brokers from your assigned customer base/territory to solicit business submissions through marketing initiatives and educate agency representatives on Liberty Mutual Surety policies, procedures, appetite, and requirements. Act in a consultative capacity to review agency accounts and performance.
  • Underwrite new and existing account submissions utilizing the underwriting authority granted by the Chief Underwriting Officer. Handle complex accounts based on your role level. Conduct thorough evaluations and assessments of a customer's financial, technical, organizational, and management capabilities, past experiences, and desired objectives, as well as subjective character judgments based on data and insights.
  • Perform analytical evaluations of financial statements on both a static and trend basis. Assess the current and historical financial position of accounts and monitor the financial status of risks through quarterly statement analysis and work-in-progress data as appropriate.
  • Develop and maintain strong relationships with agents and brokers while overseeing a portfolio of Contract Surety business within your defined territory. Meet production, marketing, and profitability targets set by management and assist in formulating marketing strategies.
  • Stay informed about Liberty Mutual Surety product lines and identify cross-selling opportunities with agents, engaging and referring appropriate parties as necessary.
  • Investigate, analyze, and manage all necessary underwriting, accounting, and workflow issues within the framework of Surety policies and procedures.
  • Monitor an existing portfolio of business from an underwriting perspective. Continuously evaluate the qualitative characteristics of assigned business, utilizing self-audit programs and financial ratio analysis reports. Make recommendations to management for appropriate lines of authority to be submitted to the Home Office.
  • Assess and identify changes in all aspects of the business, including work programs, financial strength criteria, nature of work performed, data flow accuracy and timeliness, and exposure analyses. Coordinate and communicate issues to Home Office staff and Bond Managers.
  • Assist in evaluating business continuity arrangements and funding mechanisms to prevent financial strain on customers in the event of significant losses.
  • In connection with credit recommendations that deviate from standard underwriting practices, apply sound reasoning and business logic to reach decisions as authorized. Document this logic effectively and communicate it to senior Home Office and Field underwriting staff as necessary.
  • Provide direction for topics to be discussed in meetings with agents, customers, and others as needed.
  • Prepare and implement guidelines for managing workflows and addressing accounting/billing issues for unique situations.
  • May mentor junior staff based on your level of expertise.
  • Perform special projects and other duties as assigned.
Qualifications
  • Bachelor's degree in Finance, Accounting, or a related field, with a minimum of 7 years of experience expected, preferably 10 or more years in surety underwriting or equivalent surety-related business experience. Strong preference for expertise in the contract Surety product line.
  • Solid understanding of financial and accounting principles, demonstrating sound business judgment in evaluating the financial condition, credit history, and character of contract accounts.
  • Proven analytical skills to assess and judge underwriting risks within your scope of responsibility.
  • AFSB certification is preferred.
  • Demonstrated ability to communicate complex analyses and information clearly in written and/or oral formats for underwriting or training purposes.
  • Strong communication and interpersonal skills are essential for building and maintaining effective business relationships with agents, brokers, CPAs, bankers, attorneys, etc.
  • Excellent organizational skills and attention to detail are required.
Please note: We welcome a diverse range of underwriting experience. Compensation and level will be determined based on experience and location.
About Liberty Mutual
At Liberty Mutual, our mission is to empower individuals to embrace the present and confidently pursue the future. We foster an environment centered on openness, inclusion, trust, and respect. Here, you will discover a wide array of roles and a workplace dedicated to transforming your passion into a fulfilling career.

Liberty Mutual has been recognized as a "Great Place to Work" by Great Place to Work US for several consecutive years. We have also been named one of the "100 Best Places to Work in IT" on IDG's Insider Pro and Computerworld's 2020 list. For many years, we have been acknowledged by Forbes as one of America's Best Employers for Women, one of America's Best Employers for New Graduates, and one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion, please visit our website.

We value your dedication, integrity, and commitment to improving our organization, and we prioritize people by offering benefits that support your life and well-being. To explore our benefit offerings, please visit our website.

Liberty Mutual is an equal opportunity employer. We do not tolerate discrimination based on race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information, or any other basis prohibited by federal, state, or local law.

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