One of the largest writers of surety in the United States, HCC Surety Group provides contract, commercial, court and bail bonds to clients of all sizes: from sole proprietors to large publicly-traded companies. Our talented group of professionals is adept at underwriting traditional surety, and possesses the knowledge & creativity to offer solutions for specialty "hard-to-place" risks often dismissed by the surety marketplace at-large.
We have a position available for a Contract Bond Underwriter in our Los Angeles office. This position will be a key member of the underwriting team. Under supervision, reviews contract bond applications to evaluate, classify, and rate each risk to determine acceptability, coverage, and pricing. Establishes, maintains and develops agency and/or broker relationships. Has defined underwriting authority and business development responsibility. This position will report to the Branch Manager of our Los Angeles, CA location.
Relying on limited experience and knowledge, the Contract Bond Underwriter is responsible for accomplishing the following assignments. These assignments are varied in nature.
Review contract bond applications to evaluate, classify, and rate each risk to determine acceptability and rating.
Perform analysis of applicant's financial statements, collateral, and related due diligence.
Prepare bond execution and Financial Adjustment Notices (FAN) reports.
Approve within given authority or recommend approval or denial of bonds to higher authority within field or home office.
Draft and issue surety bonds according to established guidelines.
Resolve legal, accounting and collateral issues related to bond submissions with internal clients.
Cultivate relationships with internal and external contacts to facilitate the underwriting process, promote business development, and to remain abreast of industry trends
Follow work plans, established timelines, and pre-defined goals for assigned work.
Meet commitments on deadlines.
Communicate activities, results, and observations with employees and management as appropriate.
Identify areas for improvement in existing business practices.
Perform work thoroughly in a cost efficient manner and at a high productivity level.
Business Controls and Policies
Comply with all corporate policies and procedures.
Report any breakdowns in controls to management.
Conduct all activities in a safe manner.
No people management responsibility.
Bachelor's degree in Business Administration, Accounting or Finance or a related field or the equivalent education and/or experience
Minimum of two years of relevant and progressive surety bond underwriting experience that includes a strong working knowledge of state laws.
Possess and have ability to apply knowledge of principles, practices, and procedures
Solid written and verbal communication skills with an emphasis on confidentiality, tact, and diplomacy
Advanced organizational and analytical skills; demonstrated ability to manage multiple tasks simultaneously
Knowledgeable of industry changes, legal updates and technical developments related to applicable area of the Company’s business to proactively respond to changing business environment
Intermediate proficiency and experience using Microsoft Office Package (Excel, Access, PowerPoint, Word)
Working Conditions and Physical Demands:
Overtime hours may be required to fulfill job responsibilities
May require travel outside normal work location
May require a valid driver’s license
May be required to stoop, bend, or sit for extended periods of time
May be required to lift up to 10 pounds
Dexterity of hands and fingers to operate a computer keyboard, mouse, and other devices
Close vision and ability to adjust focus; required to read a computer screen
Note: This document is intended to describe the general nature and level of work being performed, and is not to be construed as an exhaustive list of all responsibilities, duties and skills required for the job.
HCC Insurance Holdings, Inc. - 17 months ago