Senior, Underwriting Specialist

Title: Surety Sr. Underwriting Specialist

Location:

• Oregon, USA
• San Francisco, CA, USA
• Nevada, USA
• Washington, USA
• California, USA
• Colorado, USA
• Arizona, USA
• Utah, USA
• Phoenix, AZ, USA

Job Description:

Our Commercial Surety Team is seeking a Sr. Underwriting Specialist to join their growing team. This is a full time, exempt role. This is a hybrid or remote role, with our ideal candidate sitting in the West (CA, AZ, CO, OR, UT, WA, NV).

POSITION OVERVIEW: Responsible for identifying, soliciting, underwriting and selling new and renewal Surety accounts that drive profitable growth and align with industry segments, appetite and mix goals. Apply advanced financial, technical, analytical and sales skills to provide surety solutions that help Hanover's customers manage risk. Demonstrates a thorough understanding of Hanover's strategies and appetites and will use internal and external data to make appropriate individual and portfolio risk decisions. Operates within a broad Letter of Authority for all underwriting decisions and with limited direction while managing an assigned book of business, generally with high technical complexity and coordination.

WHAT YOU NEED TO APPLY:

Technical Underwriting:

• Thorough knowledge and understanding of business strategy (ability to distinguish all risk type differentials; partner/non partner agencies, etc., and how these characteristics fit into our portfolio).
• Know and apply deep knowledge of countrywide commercial and non-construction performance and payment bond types; advanced underwriting concepts including risk selection, exposure and hazard identification and control, coverage implications, and risk analysis.
• Advanced knowledge of pricing components and rating methodology and correlates pricing to exposure, financial and competitive analysis.

Portfolio Management & Financial Acumen:

• Manages assigned portfolio to achieve gross written premium, profitability, rate, retention, industry and LOB mix, new business and portfolio management goals.
• Demonstrates ability to properly leverage competencies, act as a resource, and build long-term, profitable and mutually beneficial relationships with agencies and internal management.
• Constructs and executes portfolio business plans independently through organized workflow & desk management, which may include special projects.
• Reviews key metrics and uncovers trends that may lead to new business opportunities within agencies while achieving profitable growth.
• Drives the implementation of profit improvement initiatives with key agents by leveraging resources.
• Advocates and coordinates with Specialty departments to learn and share knowledge in cross sell opportunities to help manage portfolio/book of business Sales Management.
• Utilize our value proposition to enhance agency economics, partner conversion and product specialization in partnership with local management.
• Prioritizes and drives effective relationship management and producer activities to build trust, facilitate negotiation, and secure commitment in order to improve yield and retention ratios.
• Engage at the customer level to underwrite the most complex and prominent accounts within territory.
• Independently implements territory business plans, monitors performance, adjusts plan to ensure a substantial pipeline for future profitable growth.
• Provide proper product knowledge and underwriting appetite to existing and prospective agents so they can effectively sell Hanover as the go to market for their customers.
• Ability to uncover customer needs, position specific solutions, handle objections, and close deals.

WHAT YOU NEED TO APPLY:

• Bachelor's Degree or equivalent experience.
• 5-7+ years Underwriting experience.
• 5-7+ years' experience driving agency relationships resulting in profitable new and renewal business.
• Consistently demonstrates high level of proficiency across Surety underwriting core competencies.
• Proficient in ability to identify, analyze and solve problems and manage and prioritize multiple concurrent projects. Is used as a resource by others to collaborate on more complex risks, pricing, trends, industry segments coverages and product knowledge. May conduct peer-to-peer self-audits under the direction of management.
• Demonstrates ability to adapt quickly to change, exercise influence, and act as a change advocate being open to new and different ways of thinking.
• Viewed as an informal leader amongst the team/branch/region/LOB. Open to and proactively shares knowledge and expertise with peers, management and leadership. Acts as a mentor for less experienced underwriters or newly hired underwriters, may assist with training other team members
• Communication - Interacts and communicates with confidence with all levels of external and/or internal business partners within scope of responsibility, team and/or matrix environment. Can judge appropriate means and method to communicate based on the nature of the communication. Able to influence desired outcomes to drive actions and results. Adept at influencing even when holding a position contrary to the majority opinion.
• Judgement and Decision Making - Ability to exercise judgment, negotiate and make sound business decisions based on level of authority. Applies judgment and expertise to determine when escalation is needed. Demonstrates confidence in one's ability to apply decision making to UW assessment.
• Team work and Collaboration - Consistently fosters collaboration and respect among team members. Easily adapts to the diverse interests, styles and perspective of key players. Is able to engage multiple members of a group to share information and to consider other points of view to reach objectives, consensus and/or deadlines. Experienced in working with a wide range of teams and readily shares lessons learned.
• Ability to travel est. 20%.