Selective Insurance Company of America

  • Bond Underwriting Manager

    Location US-NJ-Branchville
    Experience (Years)
    8
    Category
    Underwriting
    Status
    Full-Time Regular
    FLSA Status
    Exempt/Salaried
    Job ID
    5754
    Travel %
    15-20%
  • Overview

    Partners with Bond SBU VP, establishes underwriting guidelines and philosophy for all lines of bond business. Monitors all business written and underwrites bonds/accounts that exceed field authority. Coordinates with Small Business Team on underwriting and automation issues. Works with Bond VP on special acceptance requests and on the annual reinsurance review/renewal process. Conducts field audits and educates/trains new bond employees. Coordinates with bond management to develop better understanding of underwriting metrics for reducing risk. All job duties and responsibilities must be carried out in compliance with applicable legal and regulatory requirements.

    Responsibilities

    • Monitors bond production and ensures compliance with company’s underwriting philosophy and procedures. Underwrites accounts that exceed field authority. Requests in excess of U/W Manager authority will be referred to Bond VP.
    • Coordinates with Bond SBU VP to establish underwriting philosophy and guidelines. Evaluates losses and loss trends and adjusts guidelines accordingly.
    • Assists in the production of new business and retaining profitable business. Operates methodically and logically under time pressure and agency/account pressure.
    • Evaluates creditworthiness of accounts, identifies and communicates weaknesses, and uses this information to support final underwriting decisions.
    • Recommends, organizes, and implements workflow and/or procedural changes affecting the Bond SBU. Responsible for overseeing of proper maintenance, production support and enhancements to automated systems in support of overall business objectives of the Bond SBU.
    • Provides training and knowledge sharing opportunities to bond staff, Agency Management Specialists, and producers. Keeps abreast of market conditions affecting the bond industry, and adjusts training accordingly.
    • Establishes annual criteria for branch audits. Conducts audits and reports audit findings to senior bond management. Responsible for completing Quality Assurance Audit and Reports on a quarterly basis. 
    • Works with Bond VP on special acceptance requests during annual reinsurance review.
    • Partners with regional and territory bond managers to review and update business metrics.
    • Must be able to drive an automobile to travel within territory. Car travel represents approximately 20% of employee’s time and a valid driver’s license.

    Qualifications

    • Underwrites accounts up to $15,000,000 single/$30,000,000 program parameters.
    • Excellent customer service, networking and relationship building skills.
    • Demonstrated ability to develop exceptional relationships with Property & Casualty regional management.
    • Demonstrated consistency when dealing with clients.
    • Excellent sales and negotiation skills.
    • Strong problem-solving ability, and excellent presentation skills.
    • Must have valid state-issued driver’s license in good standing and be able to drive an automobile.
    • College degree in accounting, finance, business administration, marketing or related field preferred.
    • Minimum 8-10 years of bond underwriting and field experience.
    • Strong computer skills including MS Office applications.
    • Strong proficiency utilizing MS Access.
    • Strong analytical skills required.
    • AFSB, AU, CPCU preferred.

     

    Selective is an Equal Employment Opportunity employer. Selective maintains a drug-free workplace.

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