Nationwide Internal Job Title: "Dir, Bus Dev-Lg Mkt Surety"
This opening may be filled at the Director orManager level, depending on the skills/qualifications of the selected individual.
JOB SUMMARY: Leads an underwriting team that includes surety territory managers and field underwriters that own the sales and underwriting relationships for a large market surety book of business. Develops and maintains business relationships with agencies and/or brokers for the purpose of sales growth and distribution expansion. Primary focus of this role is on underwriting, agency / customer relationship management, employee engagement and expense management for a territory. Independently underwrites accounts based on authority level granted to the role and underwriting appetite. Authority is at the highest level in accordance with large account limits.
REPORTING RELATIONSHIPS: Reports to AVP, Large Market Surety. Direct reports include surety territory managers, field underwriters and underwriting associates.
CORE JOB DUTIES & RESPONSIBILITIES:
+ Monitors market conditions and confirms information gathered within market space. Researches risk, environment and factors necessary to win the account. Receives input and monitors risk selection, renewal retention and pricing decisions on a portfolio and individual account level. Establishes research objectives and standards for the department. Ensures that methodologies and outcomes meet business and strategic objectives. Researches large exposure bonds requiring a deep understanding of complexity of large contractor balance sheets and business plans. Researches PPP or large capacity deals and helps draft bond forms and negotiate contract wording.
+ Analyzes performance of portfolio as well as individual account performance and develops appropriate action to drive profitable growth based upon the analysis. Evaluates risks based on assigned underwriting authority level requiring expertise in the intricacies of large market accounts. Analyzes the largest, most complex deals requiring partnership with other providers such as co-surety deals, side agreements and indemnity agreements from co-surety partners. Analyzes joint venture partners and underwrites foreign parents of US subsidiaries on reverse flow business.
+ Reviews and approves underwriting decisions of staff and ensures compliance to legal requirements and organizational, business and strategic objectives. Provides recommendations to leadership regarding underwriting strategy and opportunity. Measures and manages underwriting processing and quality. Actively manages and participates in agency management. May review complex or escalated business and make underwriting decisions based on the underwriting authority granted to the role, using company underwriting guidelines and standards. Underwrites the most complex, financially sensitive accounts requiring deep understanding of large market industry, customers and tools necessary to reach decisions and negotiate collateral documents (Pledge and control agreements).
+ Determines priorities and workflow standards for the department. Monitors and manages performance measurements to ensure effectiveness of the department's service delivery process. Effectively aligns organizational structure to drive business results.
+ Plans, develops and integrates territory sales plans to achieve top and bottom line objectives. Translates strategic business plans into organizational direction. Creates financial and operational goals, budget and timelines to meet company standards. Directs associates and provides performance management, salary planning and administration, organizational planning, hiring and placement.
+ Drives sales strategies to develop new business, improve retention and maintain profitability. Meets with agents at member locations to help with renewals and to ensure agency and account needs are being met.
+ Consults with all levels of internal and external partners regarding policy and practice. Provides input to leadership regarding strategic and business plans and helps identify operational opportunities and efficiencies. Consults with agents and brokers to provide expertise, educate and identify business opportunities. Consults with team to develop experience, understanding and expertise in each situation to make the best possible decisions. Consults with SM/MM leaders on accounts requiring higher level of authority.
+ Communicates strategic direction and operational plans to internal associates and external partners. Communicates policies, procedures and financial budgets that result in attainment of business objectives. Ensures awareness of strategic corporate initiatives to maintain effectiveness in the field. Works in partnership with agencies to expand the program share amount in a shared surety account and understands the existing surety program in place.
+ Develops and maintains strong business relationships with key groups and individuals within the commercial lines market. Develops effective internal and external collaborative partnerships across all customers and related functions, including: Claims, Marketing, IT, etc. to understand business developments and build a support network to help resolve business needs. Meets regularly with clients to enhance relationships and drive business results. Handles escalated customer service issues and requests.
+ Develops customer service standards for business development team. Drives customer service performance to established standards.
+ Works in partnership with fellow leaders to manage the training of associates within the surety organization to ensure a high degree of competency and professionalism. Coaches territory managers and field underwriters on actively pursuing surety opportunities with agencies and/or brokers to develop and grow a profitable territory.
+ Sets operational expectations, goals and strategies. Provides oversight ensuring necessary internal support is provided to resolve issues and achieve appropriate service levels. Ensures that unique agency business capabilities are assessed and emphasized as a competitive advantage across all producers within the business unit.
+ Performs other duties as assigned.
MINIMUM JOB REQUIREMENTS:
Education: Undergraduate degree in business, insurance, or a related field preferred.
License/Certification/Designation: Actively pursuing of AFSB, CPCU or other insurance/finance related certification desired.
Experience: Ten years commercial or contract surety or related underwriting experience preferred. Significant business management and people leadership experience desired.
Knowledge: Requires knowledge of contract and/ or commercial surety operations products, procedures and practices. Expertise in surety lines of business, ratings, customer environment and markets. Expertise in underwriting large risks, including utilizing relevant tools for underwriting. Requires extensive knowledge of surety underwriting best practices, field underwriting operations and day-to-day underwriting operational needs. Familiarity with other company products preferred.
Skills/Competencies: Must have excellent verbal and written communication skills in order to disseminate vision of senior leadership and to motivate a large agency force. Ability to set work priorities and to initiate, evaluate and recommend solutions to upper management. Must have the ability to perform duties with independent judgment, with underwriting authority and company underwriting standards. Demonstrated decision-making ability required in day-to-day operations where there may be unclear or competing priorities, including evaluating and recommending solutions to customer service issues, work processing issues, underwriting selection and rating problems, and best practices compliance. Ability to reach a solution in situations where there may be multiple options or competing priorities. Strong drive for results. Competencies include: Building Organizational Talent, Optimizing Diversity, Selling the Vision, Leading Change, Driving Execution, Entrepreneurship.
Values: Regularly and consistently demonstrates the Nationwide Values and Guiding Behaviors.
Staffing Exceptions to the above Minimum Job Requirements must be approved by the: hiring manager's leader and HRBP.
Overtime Eligibility: Not Eligible (Exempt)
Working Conditions: Extended and/or non-standard work hours may be required as well as extensive travel in the field. May require the ability to relocate. A valid driver's license and safe driving record are required.
ADA: The above statements cover what are generally believed to be principal and essential functions of this job. Specific circumstances may allow or require some people assigned to the job to perform a somewhat different combination of duties.
Job Family/Function: SLS/BON
Job Evaluation Activity: KMP 12-2015
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