Liberty Mutual Surety, a business unit of Liberty Mutual Insurance, is the #1 Surety in the United States and the largest globally. Conducting business worldwide through fronting relationships and Liberty-owned subsidiaries, we provide bonds in over 60 countries for construction firms, manufacturers and suppliers, and commercial enterprises on an account and transactional basis. We are committed to building mutually profitable relationships by providing smart business solutions, ease of doing business, and consistent, responsive service. Liberty Mutual Surety is dedicated to the communities we serve and highly values a diverse workforce in more than 16 countries.
- Underwrites new and existing subcontract account submissions of virtually all sizes and complexities utilizing underwriting authority granted by Chief Underwriting Officer and adhering to required underwriting guidelines.
- Makes thorough evaluations and assessments of an account`s financial, technical, organizational, and management capacities, as well as apply a high a high level of subjective judgment of character (as needed) normally based upon data/insights provided by the field organization only.
- Incorporates advanced knowledge of accounting, legal and organizational/managerial disciplines.
- With field underwriters and/or Bond Managers, meet with clients to facilitate assessments and/or provide direction for topics to be addressed with agents, principals, and others as necessary.
- Monitors existing books of business from an underwriting standpoint as assigned.
- Continuously evaluates the qualitative characteristics of new and existing business within assigned field offices.
- Identifies changes in all aspects of the business including, but not limited to work program to financial strength criteria, nature of work performed (inherent risk), accuracy and timeliness of data flow, and exposure analyses.
- Coordinates and surfaces issues to more senior Home Office staff and/or Manager and field office Bond Managers on a regular and timely basis. With increasing autonomy and some direction from senior staff, monitors marketing, underwriting and/or administrative issues within various offices, as assigned.
- Prepares, recommends, and/or implements instructions for administering work flows and accounting/billing issues to service unique situations.
- May provide underwriting support and direction to less experienced underwriting staff.
- Utilizes various applications and data to analyze statistical and financial reports, claims data, and other financial exhibits/data to monitor the quality of existing and new business
- Effectively communicates issues of concern on new and existing business to the applicable field office product line underwriter and/or Bond Manager, as necessary, and inputs data on accounts to complete or modify analyses and maintain lines of credit in a current and accurate matter.
- Diligently and conscientiously pursues resolution of open issues, documents result and adjusts credit parameters extended to specific accounts based upon such facts and findings. In connection with credit recommendations which tend to fall outside of normal underwriting standards, applies sound reason and business logic to reach decision.
- Effectively documents such logic in file and communicates to more senior Home Office and Field underwriting staff, as necessary.
- As necessary, collaborates with Claims staff to evaluate and/or resolve claim issues expeditiously and effectively, and if appropriate, takes immediate action to restrict credit on affected account. Keeps more senior underwriting staff informed of claims issues.
- Communicates with competitors on matters involving co-surety.
- Partners with field staff to identify, solicit, and contact significant producers in assigned territory under guidance from Bond Manager and more senior home office underwriting staff.
- Participates in and/or leads special projects as requested/assigned.
- BA/BS in Business Administration or related field and a minimum of 7 years progressively more responsible surety underwriting experience desired.
- Very strong analytical abilities and decision-making skills.
- Strong negotiating skills.
- Strong written and oral communication skills are required.