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. 
• 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. 
• 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. 
• Establishes and achieves quarterly and annual production goals. Typically handles up to $1.5 million in production.

Education and Experience: Bachelor’s degree or equivalent work experience in business, underwriting, insurance or a related field plus 3-6 years of experience in bond underwriting or a similar role in the Surety industry. Coursework in math, statistics and financial analysis would be helpful. 

Competencies: Excellent written and verbal communication skills; able to work well with diverse groups of peers; communicate positively and respectfully; provide excellent customer service to external and internal stakeholders; uses analytical thinking skills; balance workload assignments within time constraints; business acumen, and retain strict confidentiality.

Has the ability to scan unfamiliar material and pull relevant details appropriately in order to respond effectively to questions and problem-solve new issues. 
 

Experience with word processing, spreadsheets, and a working knowledge of Microsoft Office products preferred. 

Essential Functions:

The associate must be able to analyze and rate contract surety bonds, travel to assigned regions and market the Company and their products.