What are the responsibilities and job description for the Executive Surety Underwriter position at UFG?
UFG is currently hiring an Executive Surety Underwriter who will actively work towards building and maintaining a profitable mix of new and existing surety business by developing and maintaining strong working relationships with the agency force. Demonstrate strong analytical skills to evaluate risks for acceptability within their higher authority and company underwriting parameters. Independently underwrite complex submissions. Review of accounts and bid requests that exceed individual underwriter’s authority levels. Make regular agency visits and calls to assess growth and profitability of agents in their territory including accompanying other underwriters on their visits. Prospect and appoint new quality agents. Visit current and potential contractor’s place of business to better assess acceptability and quality of the accounts. Help underwriters produce a profitable mix of new and existing business. Assist upper management in the development of underwriters.
Essential Duties and Responsibilities:
- Instruct, assign, and review work and projects completed by underwriters. Daily interaction and development of the underwriters and their books of business.
- Coaching, mentoring, and training of all team members.
- Demonstrate successful growth of business independently and responsibly utilize the higher authority granted.
- Underwrite complex submissions independently.
- Independently underwrite new submissions and existing accounts with assistance from mentors. Evaluate and assess financial status, credit standing, and organization profile to analyze and determine acceptability of the risk within framework of UFG underwriting policies and procedures.
- Develop and maintain strong relationships with agents/brokers.
- Oversee a book of contract surety business within defined territory. Meet production, marketing, and profitability goals and develop marketing plan using the territory management tool.
- Review of accounts and bid requests that exceed individual underwriter’s authority levels.
- Upload and update file information electronically and purge obsolete data per department guidelines.
- Handles all confidential information with discretion.
- Provide high quality customer service in all interactions with internal and external customers.
- Request underwriting information from agencies. Review and process information received.
- Perform annual review of accounts including financial analysis, obtaining current bank line of credit letters, preparing profiles, and recommendation of line of authority.
- Instruct, assign, and review work completed by support staff.
- Upload and update file information electronically and purge obsolete data per department guidelines.
- Create record of communications concerning activities per department standards.
- Audit underwriter files.
- Stay current on industry information regarding trends, competition, pertinent laws and legal occurrences, etc., and share the information with the department.
Job Specifications:
Education:
- Bachelor’s degree in business administration, economics, finance or accounting preferred
Certifications/Designations:
- Certified in, or working towards, AFSB designation.
- Must have a valid and current drivers’ license and must have acceptable driving record in accordance with Company practice.
- Employees are expected to participate in continuing education throughout their careers.
Experience:
- 7 years of professional work experience or completion of a surety training program.
Working Conditions:
- General office environment.
- Up to 35% of travel. Visit agency force and contract accounts. Assist other underwriters on their visits. Frequent overnight trips included.
- May be exposed to weather conditions, and/or results and debris of adverse weather conditions, during agency/contract visits.
Pay Transparency Statement:
UFG Insurance is committed to fair and equitable compensation practices. The base salary range for this position is $123,865 - $163,368 annually, which represents the typical range for new hires in this role. Individual pay within this range will be determined based on a variety of factors, including relevant experience, education, certifications, skills, internal equity, geography and market data.
In addition to base salary, UFG Insurance offers a comprehensive total rewards package that includes:
- Annual incentive compensation
- Medical, dental, vision & life insurance
- Accident, critical Illness & short-term disability insurance
- Retirement plans with employer contributions
- Generous time-off program
- Programs designed to support the employee well-being and financial security.
This pay range disclosure is provided in accordance with applicable state and local pay transparency laws.
Salary : $123,865 - $163,368