• Financial Products Underwriting Specialist, Commercial Surety- Bond Division

    Location US-IL-Schaumburg
    Posted Date 1 month ago(1 month ago)
    Job ID
    23963
    # Positions
    1
    Category
    Underwriting
    Position Type
    Full Time
  • Overview

    Be Here - Be Great!  Working for a leader in the insurance industry means opportunity for you. Great American Insurance Group, a member of American Financial Group, is a Fortune 500 company consistently recognized as a top place to work.  We combine a "small company" culture where your ideas will be heard with "big company" expertise to help you succeed. With over 30 specialty property and casualty operations and a variety of financial services, there are always opportunities here to learn and grow.

     

    Great American's Bond Division writes a wide range of surety products within the commercial surety line of business. We are a top 10 surety company (2015 SFAA rankings) with excellent financial strength (2015 AM Bests rated A+). To find out more about this exciting opportunity and the Great American Bond Division, please visit our website at www.greatamericanbonds.com.

     

    The Bond Division is currently searching for an ambitious and customer driven Commercial Surety Underwriting Specialist to work in our Schaumburg, IL office.  The person hired for this position will need to have demonstrated experience in commercial surety.  The primary role will be to maintain an established book of business as well as recruit new agents/brokers. The assigned territory for this position is Kentucky, Ohio, Indiana, Illinois, Michigan and Wisconsin and expected travel is 25-35%.

    Be Here. Be Great. Working for a leader in the insurance industry means opportunity for you. Great American Insurance Group’s member companies are subsidiaries of American Financial Group, a Fortune 500 company. We combine a "small company" culture where your ideas will be heard with "big company" expertise to help you succeed. With over 30 specialty property and casualty operations and a variety of financial services, there are always opportunities here to learn and grow.

    Responsibilities

    • Has responsibility for moderately complex to complex risk selection / rejection, pricing, retention, growth and profitability within scope of authority and per divisional objectives.
      • Uses independent judgment and initiative to support business goals.
      • Maintains a high level of customer service.
      • Receives and analyzes submissions and determines terms to offer (policy limits, credit limits, deductibles, coverage options and conditions, work programs, etc.).
      • Prices business in accordance with company guidelines.
      • May conduct investigations of new and existing accounts through business owners (banks, owners, creditors, debtors, architects, engineers, criminal record checks, on-site visits, etc.)
      • Assesses risk quality and compliance within company guidelines.
      • Orders and analyzes miscellaneous business reports needed in the rating and underwriting processes, including credit checks, bank agreements, financial statements and underwriting surveys.
      • Makes recommendations on risks over authority.
      • Enters, maintains and monitors accounts using underwriting, analysis and desktop systems.
      • Prepares effective internal and external communications on underwriting issues.
    • Develops and maintains effective business relationships with internal and external customers / coworkers in order to attract and retain profitable business.
    • Visits producers / insureds in order to retain existing accounts, survey exposures, build and maintain business relationships and develop new opportunities in support of divisional objectives.
    • Administers, applies and may update underwriting rules and guidelines, rating manual rules and insurance laws and regulations.
    • Position requires day and overnight travel, up to 35% of time, to visit producers, principals, and insureds.  
    • Performs other duties as assigned.

    Qualifications

    • Bachelor’s Degree or equivalent experience. 
    • 5-8 years of commercial or contract surety underwriting experience.
    • Progression toward certification in area of expertise is preferred.
    • Strong communication skills to build and grow agency relationships and to successfully market products.
    • Must be adept and versatile to handle diversified product portfolio.
    • Prior underwriting and processing systems knowledge is required.

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