Surety Underwriter

**General information**:
**City**:London, UK

**Country**:United Kingdom of Great Britain and Northern Ireland

**Creation Date**:06-Sep-2024

**Employment Type**:Permanent

**Employment Type**:Full time

**Ref #**:1234571099

**Description & Requirements**:
**Role Title: Underwriter**

**Department: Surety UK & Ireland**

**Location: London**

**Type: Permanent**

**About the Role**:
Liberty Mutual Surety is looking for an experienced financial professional to work in our Surety Underwriting team and help continue strong growth the team has achieved over recent years. Underwriters in the London Surety team will be expected to market, underwrite and service credit risks for a book of Surety business, working with key brokers and directly with clients within a defined territory, contributing to the growth and profitability of the business.

This will involve underwriting both new and existing surety accounts within underwriting guidelines to determine if they meet risk acceptability standards and/or the strategy set out by management and the wider Liberty Mutual Surety Group.

Responsibilities would include assisting in the review and analysis of risks and performing financial and credit analysis of bond submissions, making recommendations to management and taking action as appropriate.

**About the Department & Team**:
Liberty’s London Surety team are a market leader in the European guarantee market and pride ourselves on developing innovative and bespoke solutions to service our clients’ needs. We provide bonds and guarantees across the globe for some of the world’s largest public and privately owned companies and support a wide range of sectors, working with customers in the construction, energy and defense industries amongst many others. Collaboration and close relationships form a key part of our success, both internally and with our external clients and brokers.

**Key Responsibilities**:

- Meet with customers and/or agents/brokers from assigned territory to solicit business/submissions via marketing efforts and educate customers on Global Surety policies, procedures, appetite, and requirements. This includes identifying, acquiring, and managing new direct customers’ relationships.
- Act in a consultative capacity and discuss/review accounts and performance and identify cross-selling opportunities, engaging/referring appropriate parties as necessary. Directs topics to be addressed in meetings with brokers, customers, and others, as necessary.
- Attend industry events representing Liberty Mutual.
- Originate, lead, and underwrite surety transactions. Performs analytical evaluations of financial statements on both a static and trend basis and undertakes credit analysis.
- Determine the present and historical financial position of the account and monitors financial position of risk through analysis of periodic statements and other forward looking information as appropriate.
- Develop/maintain strong relationships and meet with brokers and/or customers and oversee a book of surety business.
- Meet production, marketing, and profitability goals and assist in developing marketing plan.
- Develop/grow a book of business to broaden the portfolio with various accounts in compliance with given Underwriting Guidelines and authority.
- Meet with the accounts to assess their general management acumen, past experience, work experience of key personnel, depth of organization, and desired work objectives, i.e. credit needs in the future to evaluate the strength of the account versus the level of surety credit requested or provided. Correspond with bankers, lawyers and other financial professionals to secure additional underwriting detail, as necessary, to assess risk on preliminary and ongoing basis.
- Monitor and analyse an existing book of business from an underwriting standpoint. Continuously evaluates the qualitative characteristics of the business (new and existing) and the continuous flow and quality of account underwriting data on contract and/or commercial Surety cases as assigned.
- Analyse claims and statistical data and applies analytics into decision-making. Examples include utilisation of bank lending models, cash flow projections or financial ratio analysis report. Makes recommendations for proper lines of authority to be submitted to Home Office. Monitors and controls utilization of such lines to ensure compliance with guidelines.
- Analyse exposures and determine the appropriate surety coverage and conditions, risk exposure, loss history, and economic trends that may impact terms and conditions offered to the client. Evaluate business continuity arrangements, operational and environmental risk, and funding mechanisms to preclude financial drain of customer in the event of the demise of (an) owner or other loss.
- Ensure compliance with all applicable internal and external laws, regulations, policies, procedures and guidance.
- Adhere to underwriting standards, instructions and best practice me