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Surety Underwriting Executive
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Job Description
Position:
Surety Underwriting Executive
Reports To:
CSO, CEO
Essential Functions:
The main responsibility of this role is to assist the POWERS Chief Surety Officer, Producers, and Service personnel in the financial analysis, underwriting, and servicing of surety accounts. This includes ensuring accurate documentation, account setup, and ongoing maintenance of surety accounts within AgencyZoom and AMS360 in accordance with established workflows and best practices.
Position Summary
The majority of the workload will be maintaining, underwriting and analysis of new and existing surety accounts. Submitting both new and financial update analysis to surety companies and negotiating terms of the surety programs. The goal for this position is to help retain clients and facilitate growth through sound underwriting and timely client service. The role also involves managing client service needs, including addressing client questions and requests with an immediate sense of urgency. The underwriter is expected to work closely with the CSO and Producers, follow service standards and Best Practices established by POWERS, and ensure all accounts, documentation, and activity are properly documented and maintained in AgencyZoom, AMS360, and bond department systems and files.
Client & Account Management
- Manage client accounts and relationships to ensure retention and growth of the book of business.
- Serve as the primary point of contact for surety-related matters, acting as a liaison between sales staff and the surety team.
- Respond to client requests for information, documents, and general surety inquiries.
- Handle Commercial Lines Property & Casualty insurance aspects related to surety.
- Conduct necessary service visits to clients.
- Manage time and resources effectively to deliver high-quality services in line with the client service plan.
Underwriting & Financial Analysis
- Perform underwriting and financial analysis of new and existing surety accounts.
- Analyze client needs and financials to support underwriting decisions and maximize capacity.
- Identify and analyze exposures and deficiencies to develop strategies for client bond needs.
- Develop submissions and handle market placement and review of new and renewal surety programs, including proposal preparation and presentation.
- Respond to underwriters’ questions promptly and professionally.
Sales & Market Support
- Provide technical support to Sales Executives related to surety underwriting and account needs.
- Utilize technical expertise to manage inside service for new and existing clients, focusing on sales support, account development, and problem-solving in line with POWERS’ objectives and procedures.
- Manage account marketing using established markets and assist in developing new ones.
- Research market trends and develop strategies.
- Negotiate arrangements and relationships with surety markets.
Systems, Documentation & File Management
- Document client interactions, underwriting activity, and account updates in AgencyZoom in accordance with established workflows.
- Add, set up, and maintain new and existing surety accounts in AMS360.
- Upload, index, and maintain surety-related documents, financials, and bond forms.
- Maintain accurate and consistent client files.
- Ensure proper documentation and communication according to company workflows, procedures, and best practices.
- Maintain accuracy in agency and document management systems.
Operational Oversight
- Monitor accounts receivable, renewals, expirations, and internal reports.
- Ensure quality control, timely invoicing, and bond issuance.
- Assist in managing Carrier Agreements, Licensing, Appointments, Commission Schedules, and Powers of Attorney.
Leadership & Internal Support
- Work closely with the CSO, Producers, and Service personnel to support underwriting and service needs.
- Provide leadership and establish relationships with other departments.
- Assist in the recruitment and selection process of new employees when needed.
- Provide coaching and training to staff as required.
- Assist the CSO with projects related to marketing, sales, underwriting, and carrier relations.
Knowledge, Skills and Ability Requirements
- College degree preferred, but not required.
- Must hold a state Property & Casualty insurance license or be willing to quickly become licensed.
- Strong understanding of balance sheets, income statements, and cash flow statements and their interconnections as they pertain to surety credit.
- Ability to identify and interpret key financial ratios (liquidity, working capital, capital structure, gross profit, net profit, leverage, margins, interest coverage, etc.).
- Experience or willingness to learn agency management systems and document management platforms, including AgencyZoom and AMS360.
- Ability to work in a fast-paced environment with minimal supervision while maintaining a high degree of accuracy.
- Strong prioritization, documentation, and workflow management skills to ensure efficient and timely processing of underwriting and service responsibilities.
- Ability to work effectively in a team environment.
- Commitment to staying current on industry information, products, legislation, coverages, and technology to continuously improve performance.
- Ability to interact effectively with others through clear communication, collaboration, and professional guidance to achieve the company’s business goals.
Disclaimer
The above information has been designed to indicate the general nature and level of work performed within this job. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to the job. Associate must attend work on a regular basis, on time, and withstand varying degrees of stress. This position description describes the minimum selection requirements to qualify for the position. All employees must also demonstrate positive personal and interpersonal behavior and attitude with customers and employees in order to ensure a high level of expertise in supervision and general management.
Compliance
The associate has the responsibility to acquire and maintain the required knowledge of industry regulations and licenses and those regulations and policies inherent to position requirements.
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