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Underwriting Careers at Industry Leaders

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Underwriting Assistant, Surety

Ascot Group

Ascot Group

Sales & Business Development
New York, NY, USA
Posted on Tuesday, November 14, 2023
Job Description

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Job Summary

The Underwriting Assistant, Surety, will be responsible for handling the life cycle of an account, including new business, renewals and servicing of business. Performs tasks associated with bond issuance and/or agency change processing activities in Surety and file maintenance. The successful candidate will provide exceptional customer service and support to internal/external customers, research and resolve processing and bond reconciliation problems.

Responsibilities

  • Process Surety business through data entry supporting one or more product lines applying knowledge of various bond obligations and understanding of rating scenarios
  • Review request for new bonds, riders, enter rates and code new business, renewals, cancellations, endorsements, and reinstatements
  • Provide underwriting support to the Surety Underwriting team and exceptional service to internal and external customers, including agents and clients
  • Foster relationships with distribution partners
  • Assist with customer inquiries and questions, as well as the input of new bond transactions
  • Retrieve information using various systems and update agency information as appropriate, including billing, workflow, and contractor's database systems. Prepare and verify documents for accuracy prior to entering systems
  • Assist the accounting team with billing, premium, and commission discrepancies upon request.
  • Review and reconciles internal system report as directed by the Manager
  • Apply independent judgment to complete complex or specialized assignments/tasks working within defined policies and procedures to optimize planned business results
  • Performs technical support within the office and assists in the resolution of problems in coordination with Ascot’s IT and operations departments
  • Process, coordinate and/or validate data and documents to ensure quality and customer satisfaction
  • Support special projects as needed

Qualifications

  • 3 -5 years of insurance experience supporting a Surety team
  • Excellent written and verbal communication skills
  • Focused eye for detail and accuracy
  • Intermediate knowledge of Microsoft Excel and Word
  • Excellent time management skills and the ability to work in a multi-task environment
  • Desire to work as part of a team in a collaborative environment
  • Ability to exercise judgment, decision making, and initiative
  • Bachelor’s Degree preferred

***This position may be filled at a different level, depending on experience***

Compensation

Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot’s total compensation package for employees. Other rewards may include an annual cash bonus, long-term incentives, and other forms of discretionary compensation awarded by the Company.

The Annualized Base Pay Range For This Role Is

  • $75,000 to $90,000 - New York, New Jersey, Connecticut
  • $70,000 to $80,000 - Texas

Company Benefits

The Company provides a competitive benefits package that includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work/Life Resources (including Employee Assistance Program), and more

Leave Benefits: Paid holidays, annual Paid Time Off (includes paid state /local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)

Retirement Benefits: Contributory Savings Plan (401k)