Senior Surety Underwriter

2 weeks ago

Philadelphia, Pennsylvania, United States Chubb Full time
About the Role

We are seeking a highly skilled and experienced Senior Surety Underwriter to join our team at Chubb. As a key member of our underwriting team, you will be responsible for making independent decisions to ensure that existing and new business meet our underwriting standards.

Key Responsibilities
  • Reports into and is under the direction of a Surety Regional Underwriting Manager.
  • Makes independent decisions to ensure that existing and new business meet our underwriting standards; conveys these decisions and recommendations to his/her Manager and/or Home Office staff in a timely manner.
  • Takes action in ensuring that key business objectives, strategies, and process management goals are communicated and understood by all team members.
  • Builds the capabilities of his/her team toward achieving goals and strategies.
  • Takes a lead role in assisting his/her Manager in all day-to-day aspects of running the business, including overseeing performance of tasks or assignments to ensure progress is on target.
  • Contributes significantly to the construction and execution of Territory Management, Tactical and Business Plans that acts on current opportunities and addresses current problems.
  • Achieves department goals in the areas of underwriting, financial/credit management, people management, marketing, service, and cross-department relations.
  • Meets targeted profitability and expense metrics.
  • Drives production efforts to attract new contract account opportunities.
  • Performs departmental branch self-audits of underwriting and agency files.
Underwriting and Credit Management
  • Assumes lead role within his/her branch in making underwriting decisions in his/her Manager's absence.
  • Demonstrates ability to make difficult credit and producer management decisions.
  • Continuously assesses, and makes independent decisions to ensure accounts fit the preferred account characteristics of the department.
  • Effectively manages the dual underwriting system and directs the underwriters in their dual underwriting activities.
  • Works with his/her Manager, field underwriters, Home Office underwriters, and Surety General Counsel as part of the overall management and underwriting of the book of business.
  • Manages agent and account relationships to achieve maximum benefit to the underwriting process.
  • Monitors and directs the performance of assigned agents to ensure compliance with our procedures and authority levels.
  • Communicates all pertinent issues to his/her Manager and appropriate Home Office staff.
  • Actively travels as needed to effectively manage respective territory, agency, and account relationships.
Builds Organizational Talent
  • Promotes and supports a diverse, positive, and open work environment.
  • Coaches and mentors staff in their career planning.
  • Constructs a plan for assigned staff members' development, which addresses strengths, weaknesses, and potential within Chubb Surety; promptly performs and processes performance reviews and other required documentation.
  • Provides or delegates product, industry, and pricing training to staff.
  • Takes a lead role in the process of hiring, training, and retaining quality individuals.
  • Develops underwriters so that they are recognized by management as high performers prepared for promotion to positions of greater responsibility.
  • Travels with underwriters, as necessary, to assist and coach them in the underwriting visitation process.
Drive for Results
  • Provides leadership on expense management issues.
  • Coordinates, along with the Branch Surety Manager, reviews of account pricing and producer compensation, both on an account and agency level.
  • Consistently reviews overall pricing and producer compensation strategies to ensure compliance with departmental goals; recommends and implements adjustments as necessary.
  • Participates as needed and provides input on special departmental projects (i.e., Strategic planning, new products development, credit management, pricing).
Drives Customer and Producer Focus
  • Strengthens relationships with existing agents and develops relationships with new agents, through regular visitation, attendance at industry functions, and exceptional service.
  • Exhibits professional and personal behavior which creates a positive image of Chubb in the marketplace.
  • Maintains and coaches others on how to use an effective prospecting system to monitor accounts, agents, and competitors in the marketplace.
  • Develops and maintains relationships with key business professionals (bankers, CPA's, vendors, credit association executives, chamber of commerce executives, etc.) to give additional breadth and depth to marketplace intelligence.
  • Establishes and implements policies and procedures which ensure exceptional service in meeting the needs of Chubb Surety accounts and agents, including those primarily served by other branches. Assesses what those needs are, the willingness and ability of staff/agents to meet those needs and designs specific solutions when appropriate.
Process Management
  • Provides quality control for the Branch to ensure that file organization and maintenance follows established procedures and practices.
  • Reviews and monitors agency files for current information, e.g., rates, commissions, accounts, and market information.
Territory Management
  • Actively travels independently as well as in conjunction with underwriters.
  • Manages the development and implementation of underwriter travel plans.
  • Monitor travel schedules relating to agency development, account visits, industry functions, and association participation.
  • Maintains current information relating to target accounts, key producers, and competitor markets within territory.
Builds Strategic Work Relationships
  • Works with Chubb employees (in Surety, in other departments, in the branch, in other branches) to facilitate achieving the goals of others and for the overall/general good of Chubb.
  • Assists other underwriting departments with referrals and accommodation requests in a manner that considers the branch's business objectives.
  • Seeks input from a diverse group of interested individuals on general and/or complex issues affecting others.
  • Cooperates with administrative departments and the home office manager(s) on business issues.
Applies Business Acumen
  • Understands the reasons behind ongoing issues within the organization and marketplace and takes these into account when deciding on a course of action.
  • Uses knowledge of the underlying problems, opportunities or the forces affecting the organization.
Makes Effective Decisions
  • Exercises good judgment by making sound and well-informed decisions.
  • Perceives the impact and implications of decisions.
  • Makes effective and timely decisions even with limited data or solutions produce unpleasant consequences.
  • Is initiative-taking and achievement-oriented.
Demonstrates Agility
  • Promotes flexibility and adaptability in the workforce.
  • Accepts the opinions of others and is able to make changes consistent with new information.
  • Works effectively under pressure and recovers quickly from setbacks.
  • Recognizes strategic opportunities for change.
  • Adjusts plans to meet changing environment.

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