Contract Surety Underwriter

Contract Surety Underwriter

As a Contract Surety Underwriter, you will be responsible for development of contract surety business in a defined territory. You will play a critical role in the production and underwriting of contract surety account business.

Key Accountabilities/Deliverables:

• Develop and manage distribution channels, including brokers, agents, and partnerships to expand market reach and drive sales growth.
• Champion a customer-centric approach to deliver exceptional service, satisfaction, and value propositions that will differentiate our contract surety team in the marketplace.
• Review and evaluate surety bond applications/submissions to determine risk levels and underwriting terms.
• Analyze financial statements, work-in-process reports, credit reports, and other relevant underwriting documents to assess the financial quality and character of principals and indemnitors for the establishment of surety credit.
• Determine appropriate single and aggregate bond amounts, terms, and conditions based on risk analysis and industry standards.
• Collaborate with brokers, agents, and principals to gather necessary information required for proper analysis of bond risks.
• Keep current on industry trends, regulations, underwriting practices, and competitors.
• Keep abreast of obligee requirements and statutory changes.
• Other projects and tasks as assigned.

Technical Knowledge and Understanding:

• Strong technical contract surety underwriting expertise and financial analysis expertise.
• Excellent analytical and decision-making skills, with the ability to assess complex risks and provide solutions.
• Proficiency in underwriting software and tools.
• Effective communication and interpersonal skills, both verbal and written, for building relationships and managing stakeholder expectations.
• Time management and prioritization skills.
• Ability to multi-task and collaborate effectively with others in a high-performance team environment.

Experience:

• Bachelor's degree in accounting, finance, business, or related field.
• 2+ years of surety underwriting experience or related field.
• Contract surety underwriting experience preferred.
• The ability to meet tight deadlines.
• Strong customer service with a professional attitude and approach.
• Strong analytical skills with the ability to interpret financial data.
• Ability to travel as needed.

At Core Specialty, you will receive a competitive salary and opportunities for professional development and advancement. We offer medical, dental, vision, and life insurances; short and long-term disability; a Company-match of 100% of a 6% contribution 401(k) plan; an Employee Assistance Plan; Health Savings Account, Flexible Spending Account, Health Reimbursement Account, and a wellness program.

Core Specialty Insurance