Senior Contract Surety Underwriter

Contract Surety Senior Underwriter Location: Plano, Texas Company: IAT Insurance Group Hybrid schedule from IAT Office: Monday–Wednesday in office; Thursday–Friday remote. Responsibilities Review initial submissions to determine any additional information needed. Initiate correspondence to obtain required documentation. Set up financial backer files (account files) for new accounts. Maintain financial backer files and request updated information if necessary (financial statements, credit reports, correspondence, news, etc.) and monitor the aggregate liability. Advise manager immediately if there have been any significant negative developments or events. Compose narratives for new accounts; update narratives annually and submit them to manager with account recommendations for review. Update accounts in the Underwriting Database with current financial statement information. For bond submissions not affiliated with an account, analyze the bond risk/class, the underwriting requirements for that class and review the applicant’s qualifications. Determine the appropriate rate and indemnity needed and make a recommendation to the manager if not within your own authority. Evaluate unfamiliar or new bond requirements and discuss with manager if necessary (if potentially hazardous, high‑risk associated with industry such as mortgage brokers, money transmitters). Maintain individual bond files which require updated underwriting information annually and request information from the agent if necessary (financial statements, current ownership, status, etc.). Make sure proper indemnity has been secured for new bonds being reported; evaluate requests to close bonds that require a release of surety and release of collateral; submit a recommendation to manager if necessary. Maintain information on bond‑specific underwriting requirements and on hazards of certain bonds. Periodically check agent’s bond number logs to make sure that bonds are being reported and/or that outstanding bond numbers have been requested. Perform reference checks and obtain and review credit reports to document proven past capabilities and ability to handle relationship. Analyze financial statements to ascertain key components and ratios. Evaluate need for additional measures to protect surety (e.g., perfecting indemnity agreements, taking collateral, escrow arrangements, or additional outside indemnity). Discuss such additional measures as needed with supervisor. Evaluate specific bond requests with regard to any unusual hazards. Discuss with supervisor as required. Maintain file documentation so that information for existing active accounts is fresh enough to make an informed decision should new request come up. Communicate decisions as clearly and expeditiously as possible to the Regional Manager. Have regular discussions or visits with the Agency Principal/Producer about new opportunities for expanding the IFIC presence in the Agency. Meet certain premium targets assigned to the Senior Bond Underwriter by the Regional Manager. Perform other job‑related duties as required. Qualifications Bachelor's degree in Risk Management, Finance, Mathematics, Business, or related field. At least 4 years of experience in bond underwriting or equivalent (defined as 8 years of relevant bond underwriting experience). Strong marketing skills and ability to obtain new business and work with contractor clients. Strong competency in quantitative and financial analysis. Strong math aptitude, excellent verbal and written communication, interpersonal and negotiating skills. Must be customer service oriented and have the utmost integrity. Must possess knowledge of various computer programs, internet‑based programs, and be PC literate in the use of spreadsheets. Must be able to provide a valid driver's license. Must be authorized to work in the United States and must not require VISA sponsorship now or in the future. Preferred AFSB industry designation. Benefits 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. 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. #J-18808-Ljbffr LE0019 IAT Insurance Group, Inc