Underwriter, Surety

Location:

• Schaumberg, IL Hybrid Role: In-office two days of your choice. Work remotely three days a week.
  
  
  

Job Description

Reporting to the VP Surety Operations or AVP Surety Underwriting. Effective risk selection of new and renewal business with a monetary authority limit of no more than $2MM according to standard Unit practices. Ensure agent compliance with underwriting guidelines. Provide prompt service and support for all activities to field offices as required.

Responsibilities

• As to risks submitted by field offices/agents and as to specific risks assigned by MGU management, gather underwriting information and render underwriting decisions on bonds/aggregates (new and renewal) within authority levels granted under attachments based on the following (which will vary, depending on size and nature of risk):
• F/S analysis
• CBP transaction and activity analysis
• Indemnities
• Review of collateral submissions
• Other facts coming to bear risks undertaken
• Service as required by production facilities, including RTS regional offices, brokers/agents appointed by RTS, etc. Such services may include, but are not limited to:
• Execution of bonds beyond authority of production facilities
• Explanation of underwriting decisions
• Handling of general questions regarding the underwriting process
• Use IT systems/maintain records (electronic or otherwise) as required by MGU management – systems include but not necessarily limited to:
• Proprietary and Non-proprietary software (e.g., MS Office) provided for use
• Render assistance/support to claims staff as directed by MGU management, or when requested by claims staff:
• In connection with principals having open risk
• For general guidance on the customs process
• Assist Underwriters and Supervisors as directed
• Participate in in-house training as applicable and provided and assist in training of Underwriting Associate and Underwriting Assistant
• Carry out such other underwriting/claims-related activities as may be assigned by management consistent with this position’s level of expertise
• Follow all company procedures and guidelines and complete all required courses related to the same as designated by the Vice President of Legal Affairs.
• Participate in in-house training as applicable and provided and assist in training of Underwriting Trainees
  
  

Requirements

• Successful completion of UW Associate – or similar experience
• Attention to detail
• Ability to monitor and meet deadlines
• Effective oral and written communication
• Ability to take direction and prioritize
• Strong decision-making ability
• Proficiency with Excel and Word applications
  
  
  

Authority Levels, Education, Certificates, Licenses and Designations

• 1-2 years of experience in accounting, finance or business related - or -
• Associate’s degree in accounting, finance or general business
• No initial Underwriting Authority given; subject to change based on training and performance with max level authority no more than $2MM
  
  
  

We pride ourselves on having a diverse workforce. We value and celebrate the uniqueness of individuals and the different perspectives they provide. We offer equal opportunity employment regardless of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability status, age, marital status, or protected veteran status.