Senior 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.

• 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.

• 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.

• AFSB industry designation.

• 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.