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About the Role

The Head of Commercial Surety will be responsible for the underwriting, risk management, administration, and overall business development of the commercial surety Line of Business to meet projected profitability and expense goals. This role serves as the lead underwriter for all commercial surety business and supports the Head of Surety in achieving budgeted financial results through sound underwriting practices and effective risk management.

Responsibilities

Develop and execute a strategic business plan to expand the commercial surety portfolio and maintain full P/L responsibility for the line of business.
Assist Regional Bond Managers in establishing and maintaining key surety broker relationships in compliance with guidelines.
Develop risk management and portfolio management tools to achieve strategic objectives and maintain acceptable risk levels.
Underwrite and manage all referrals of commercial surety account and bond requests exceeding field authority limits, including renewals and individual bond requests.
Effectively evaluate bond forms, contracts, and other relevant documents to assess risk.
Coordinate communications with other surety company home office personnel for joint venture or co-surety arrangements.
Collaborate with MRSI surety colleagues to leverage capabilities and increase the customer base.
Interact and collaborate with field offices, Home Office colleagues, reinsurers, and other business associates, managing workflow and communications.
Participate in MRSNA senior management decisions regarding underwriting procedures, guidelines, and policy development.

Requirements

Bachelor’s degree in Business Administration, Economics, Finance, Accounting, or related field.
10 years or more of progressive experience in commercial surety.
Entrepreneurial skill set.
Excellent marketing, negotiating, and communication skills.
Successful track record of developing and maintaining strong relationships with agents/brokers.
Ability to think strategically and function tactically.
Exceptional communication skills to energize and engage brokers, clients, and colleagues.
Ability to convey a vision and client-focused solutions.
Ability to present and negotiate complex agreements related to commercial surety accounts.
Effective time management and organizational skills.
Willingness to travel up to 30%.

Skills

Underwriting
Risk Management
Business Development
Marketing
Negotiation
Communication
Relationship Management
Strategic Thinking
Tactical Execution
Time Management
Organizational Skills

Location

New York (NY)
Philadelphia (PA)
Princeton (NJ)
Hartford (CT)
Remote

Work Type

Full-time

Experience Level

10+ years

Education Level

Bachelor's degree

Salary/Compensations

$226,900-$378,100

Benefits

Company bonus
Health insurance coverage
Employee wellness program
Life and disability insurance
401k match
Retirement savings plan
Paid holidays
Paid time off (PTO)

About the Company

Munich Re Specialty - North America is a leading specialty insurance provider delivering underwriting, claims, and risk management expertise.
Offers comprehensive solutions including casualty, professional lines, property, surety, and public entity coverages.
Backed by the financial strength and global resources of an A+ Superior (A.M. Best) rated organization.
Committed to superior service, a distinctive approach to specialty solutions, and deep understanding of complex risks.

Equal Opportunity

We are an equal opportunity employer.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.