Job DetailsJob Location: West Des Moines, IASalary Range: UndisclosedDescriptionJob Purpose:A Sr. Contract Underwriter evaluates and underwrites contract surety bonds submitted to the Company within established parameters and guidelines, contributes to a profitable surety operation and to the marketing of other lines of business. They maintain agency relationships and market contract surety bond products.Job Responsibilities:Underwriting Analysis & Documentation:
Determines the acceptability of surety risks, based on the Merchant’s guidelines and marketing strategy. Operates within the authority established by the Senior Vice President – Contract Underwriting.
Reviews agent submissions/applications and assures that business statements, personal statements and work-on hand schedules are analyzed and noted properly. Accurately evaluates for future profit or loss potential and verifies appropriate rates for the risk. Obtains background information and references in order to analyze and properly evaluate the risk. Prepares contract bond quotations. Responds to questions regarding the proposed program and rate.
Creates year end updates on accounts and provides direction to the agent regarding further handling of the account.
Assures an accurate count of our contract bond backlog by keeping existing files and the status of existing bonds up to date. Maintains current File Notes, reflecting significant events and important information regarding the account.
Reviews specific contract bond forms and contracts to assess acceptability of risk. Recommends potential contract wording or revisions to make the risk more acceptable to the Company.
Presents account terms and conditions properly so they are easily distinguishable and understood.
Maintains current data on Underwriting Information Sheet for all major accounts.
Serves as backup to other team underwriters in their absence to respond to client questions and issues. Is assigned a greater number of agencies as the backup underwriter.
Works effectively within their assigned level of authority. Prepares documented recommendations on requests that are outside their level of authority.
Prepares quarterly team production reports and travel recaps based on team specifications.
Marketing & Relationship Building:
Maintains positive relationships with existing agencies and major accounts, including regular on-site visits. Continues to build premium and business opportunities with key agents and accounts. Solicits feedback regarding our service levels and performance. Typically is assigned a larger territory that includes more than one state.
Maintains current account and relationship information. Completes meeting summaries in a timely fashion.
Develops new business opportunities by prospecting for new agency relationships. Effectively utilizes marketing materials in presentations, proposals and other marketing efforts.
Represents Merchants Bonding and their interests professionally at industry functions. Networks with industry peers and experts to stay up-to-date on industry developments and potential legislative issues.
Plans and manages effective meetings with agents and/or contractors using effective meeting management tools. May be asked to take Contract Underwriters and Territory Contract Underwriters with them to provide training to less senior team members.
Establishes and achieves quarterly and annual production goals. Typically handles up to $2.5 million in production.
QualificationsQualifications:Education and Experience:Bachelor’s degree or equivalent work experience in business, underwriting, insurance or a related field plus 5- 12 years of experience in bond underwriting or a similar role in the Surety industry. Coursework in math, statistics and financial analysis would be helpful.Skills and Knowledge:Above average oral and written communication skills, including formal and informal presentation abilities; knowledge of construction techniques, contract terms/variations, financial institution/ construction accounting; strong interpersonal and negotiation skills; analytical, research and problem-solving abilities; relationship building; initiative; organization; customer service; teamwork; detail orientation; decision making and the ability to think on their feet; accurate; thorough; sound judgment.Has the ability to scan unfamiliar material and pull relevant details appropriately in order to respond effectively to questions and problem-solve new issues.Proficiency with Microsoft Word and Excel. Familiarity with other Microsoft Office Suite applications. Knowledge of data-mining tools. Proficiency with PC hardware and peripherals. Ability to operate a variety of office equipment including copiers, telephones or FAX machines.Essential Functions:The incumbent must be able to analyze and rate contract surety bonds, travel to assigned regions and market the Company and their products.Physical Demands:The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individual with disabilities to perform the essential functions.While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to sit; walk; use hands to finger, type, handle or feel; reach with hands and arms; climb or balance and stoop, kneel, crouch or crawl. The employee is infrequently required to stand. The employee may infrequently be asked to lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and ability to adjust focus. The employee should have complete clear speech.The employee may travel up to 15-20% of the time by air or car to other office or business locations. The employee will need to entertain clients to maintain existing relationships and establish new ones.Working Conditions:The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.While performing the duties of this job, the employee is exposed to normal office working conditions that are climate controlled. The employee would not be exposed to extreme heat or cold or other workplace hazards. The noise level in the work environment is usually low. The employee will need to entertain clients to maintain existing relationships and establish new ones which means they may have extended work hours, be exposed to hotel and restaurant environments and exhibit acceptable social skills.This job description is not intended to be an exhaustive list of skills, efforts, duties, responsibilities or working conditions associated with this position.