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Underwriting Careers at Industry Leaders

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Senior Underwriter, Commercial Surety - Portfolio Management

Ascot Group

Ascot Group

Marketing & Communications
United States
Posted on Wednesday, June 26, 2024
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

Reporting to the Assistant Vice President, Commercial Surety, The Senior Underwriter, Commercial Surety – Portfolio Management, will play a crucial role in assessing and managing the risk of accounts that make up Ascot’s surety portfolio. Operating primarily as a home office underwriter, your responsibilities will involve evaluating account creditworthiness, preparing annual underwriting summaries and assisting with systems and data driven projects. The successful candidate will support the Surety Underwriting team by underwriting and servicing existing accounts and working on assigned portfolio management projects that are focused on proactively monitoring Ascot’s Surety portfolio. This entails a dynamic interaction where your expertise contributes to the ongoing management and optimization of our business endeavors.

Responsibilities

  • Utilize business acumen to gather and review information on financial conditions, risk exposure, loss history, and economic trends, providing recommendations on annual account renewals.
  • Analyze financial statements, and other relevant documentation to assess applicant's financial strength and stability.
  • Work closely with a team of colleagues and AVP, Portfolio Management on data-driven portfolio management projects, contributing to informed decision-making for both field operations and upper management. Apply underwriting guidelines and company policies to make informed decisions on bond approvals, modifications, or rejections occasionally when the field requires additional support.
  • Contribute to process improvements and underwriting policy enhancements to streamline operations and mitigate risk effectively.
  • Stay updated on industry trends, regulations, and market conditions to inform underwriting decisions and strategies.
  • Participate in training and professional development activities to enhance underwriting skills and knowledge.
  • Maintain accountability for accurate underwriting and documentation in the account management system, ensuring adherence to documentation standards.

Minimum Requirements

  • Bachelor’s degree in finance, business administration, or a related field.
  • At least 2-3 years of experience in surety underwriting or a similar role.
  • Strong analytical skills with the ability to interpret financial statements and assess risk.
  • Excellent communication skills, both written and verbal, for effective interaction with stakeholders.
  • Proficiency in using surety applications and MS Office applications.
  • Knowledge of underwriting principles, industry regulations, and market trends.
  • Detail-oriented mindset with the ability to make sound decisions under pressure and work independently.
  • Professional certifications such as Associate in Fidelity and Surety Bonding (AFSB) or Chartered Property Casualty Underwriter (CPCU) may be preferred but not always required.
  • Ability to travel, under 10% for conferences and team meetings.

If you reside in any of the following locations, the position will be Hybrid: NYC Metro, Iselin, NJ, Hartford or Stamford, CT, Atlanta, GA, Houston, TX, Chicago, IL

  • 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 annual cash bonus, and other forms of discretionary compensation awarded by the Company.

  • The annualized base pay range for this role is: California & New York - $110,000 - $140,000.

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)