Contract Surety Bonds Senior Underwriter - Chicago at American Family Insurance Group

Schaumburg, Illinois, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

InsuranceIndustries

Requirements

Bachelor’s Degree in Finance, Accounting, Business, or a related field or equivalent experience
Generally, 5 or more years of Contract Surety underwriting experience
Continuing progress toward and/or the completion of a professional designation preferred, such as Associate in Fidelity and Surety Bonding (AFSB), Chartered Property Casualty Underwriter (CPCU), Certified Public Accountant (CPA), and/or Registered Professional Liability Underwriter (RPLU)
Performs work under general supervision and technical direction
Familiar with moderately complex concepts, practices, and procedures
Works with authority on assignments of moderate technical complexity
Strong analytical skills and attention to detail
Strong understanding of financial statement analysis and risk management
Excellent communication and interpersonal skills
Strong negotiation and decision-making ability
Position requires occasional travel

Responsibilities

Evaluates and underwrites new and renewal business in accordance with Company underwriting guidelines and risk appetite
Reviews and evaluates complex financial statements, credit reports, and business operations of applicants
Determines coverage and sets terms, conditions, and pricing by evaluating the applicant’s financial capacity, past performance, and risk factors
Collaborates with actuaries, agents, brokers, and clients to obtain necessary information and clarify details
Ensures proper documentation of underwriting decisions and compliance with state and federal insurance regulations
Evaluates existing policies for potential renewal or modification
Communicates underwriting decisions clearly and effectively to internal teams, agents, and brokers
Stays updated on industry trends, regulatory changes, and market conditions
Develops and maintains effective business relationships with internal and external customers/coworkers, focusing on generating new business and retaining profitable business
Interprets, explains, and promotes products and services to drive market growth
Performs other duties as assigned

Skills

Key technologies and capabilities for this role

Surety UnderwritingContract SuretyFinancial Statements AnalysisCredit ReportsRisk AssessmentUnderwriting GuidelinesBond PricingInsurance RegulationsFidelity Bonds

Questions & Answers

Common questions about this position

What experience is required for the Contract Surety Senior Underwriter role?

A Bachelor’s Degree in Finance, Accounting, Business, or a related field (or equivalent experience) is required, along with generally 5 or more years of Contract Surety underwriting experience. Continuing progress toward or completion of professional designations like AFSB, CPCU, CPA, or Registered Professional Liability is preferred.

Is this position remote or does it require office work?

The position is based in the Schaumburg, IL office with a flexible work schedule that involves in-office work and traveling within the assigned territory.

What is the company culture like at Great American Insurance Group?

The company combines a 'small company' culture where ideas are heard with 'big company' expertise, valuing diverse backgrounds and experiences to create an inclusive workplace where employees feel empowered to perform at their best.

What does a strong candidate for this role look like?

A strong candidate has a Bachelor’s Degree in a relevant field, 5+ years of Contract Surety underwriting experience, and progress toward professional designations like AFSB or CPCU, along with skills in evaluating financial statements, risk assessment, and building business relationships.

What is the salary or compensation for this position?

This information is not specified in the job description.