Surety Senior Underwriter

Surety Senior Underwriter page is loaded## Surety Senior Underwriter locations:
CO Greenwood Village Business Site (SRO Denver) time type:
Full time posted on:
Posted 29 Days Agojob requisition :
JR100073

IAT Insurance Group has an immediate opening for a Surety Senior Underwriter located in our Greenwood Village, Colorado location that will be handling both contract and/ or commercial surety.
This role will handle most aspects of daily interaction with assigned agents regarding new and existing accounts this includes gathering, analyzing, and evaluating all information on an account and making a recommendation or decision to the Regional Manager based on that information.  This role works a hybrid schedule from an IAT Office.  The hybrid schedule reflects our values (thinking and acting like an owner, collaboration, and teamwork) as it requires working from the office with colleagues Monday through Wednesday, with the option of working Thursday and Friday remotely.
** Responsibilities
* ** Review initial submissions to determine any additional information needed. Initiate correspondence to obtain documentation as required
* 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 the manager immediately if there have been any significant negative developments or events
* Compose narratives for new accounts, update narratives on an annual basis, and submit them to the 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 the manager if necessary (if potentially hazardous, high risk associated with industry {i.e. mortgage brokers, money transmitters})
* Make sure proper indemnity has been secured for new bonds being reported
* valuate requests to close bonds which require a release of surety and requests to release collateral and submit a recommendation to manager if necessary
* Maintain information on bond-specific underwriting requirements and on hazards of certain bonds
* Perform reference checks and order 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. This means perfecting indemnity agreements, possibly 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 a new request come up
* Communicate decisions as clearly and expeditiously as possible to the Regional Manager
* Regular discussion or visit 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:

**** Must-Have:
*** Bachelor’s degree in Risk Management, Finance, Mathematics, Business or related with at least 4 years’ experience in surety underwriting or equivalent.
* Equivalent is 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
* AFSB industry designation preferred
* Requires strong math aptitude, excellent verbal and written communication, interpersonal and negotiating skills
* Must…