Vice President of Contract Surety Underwriting

IAT Surety has an immediate need for a Vice President of Contract Surety Underwriting that can be located at any of the IAT locations.   This role reports to the Chief Underwriting Officer for Contract Surety and assists in managing the underwriting of the company's Contract Surety and Specialty Surety lines of business. The position is also responsible for the management of Contract and Specialty Surety Regional Profit Centers as assigned.  

As a member of the Home Office Underwriting Management Team, the Vice President of Contract Surety participates in planning growth and coordinating the strategic plan of the organization. Being able to effectively integrate, coordinate and cooperate with the other functional divisions of the organization is highly valued at IAT Surety, and is a necessary component of the Vice President position.  The ideal candidate will be a subject matter expert with all contract surety matters with an understanding of commercial surety.  This role works a hybrid schedule.  The hybrid schedule reflects our values (thinking and acting like an owner, collaboration, and teamwork) as it requires working from the office with colleagues and other disciplines Monday through Wednesday, with the option of working Thursday and Friday remotely.

Responsibilities:

• Collaborates with Field Regional VPs in personnel management of Regional Managers and profit center staff.
• Demonstrates superior ability to underwrite and manage complex Contract and Specialty Surety risks.
• Manages and assists assigned regional offices in executing the business units underwriting strategy, risk appetite, portfolio management, and profitability achieving their budgeted financial results (premium, loss ratio, new business, commissions, and retention).
• Assists in the development of underwriting guidelines.
• Collaborates on planning and policy-making committees.
• Establishes and manages short and long-range assigned regions goals and objectives
• Performs all functions of personnel management for assigned Home Office underwriting staff.
• Assists in the preparation of the annual budget for the Home Office Contract and Specialty Surety Divisions and Regional Profit Centers.
• Assists Regional Managers in developing strategic plans to identify key business opportunities to support the company’s overall business plans.
• Collaborates with Field Operations RVP’s to provide training and direction to the Regional Manager and Profit Center staff.
• Assists in the planning, development, and implementation of automated underwriting and support systems.
• Act as a partner and collaborates with Field Operations RVPs to review marketing plans and determine appropriate levels of Home Office visibility to support agency/principal relationship.
• Maintains knowledge of current developments in the surety and agency industries as well as the industry of the principals to whom the company provides suretyship.
• Demonstrates superior responsiveness to Regional offices and agents (consistency, quick response, knowledge of accounts).
• Participates in industry functions to increase company visibility in the marketplace
• Other job-related duties as required.

Qualifications:

Must-Have:

• Bachelor’s and more than 12 years of relevant Surety industry experience or equivalent.
• Equivalent is defined as 16 years of relevant Surety industry experience.
• Extensive Contract Surety experience is a must along with Specialty Surety ability.
• 6+ years of supervisory experience including a proven track record of coaching, mentoring, and providing career development direction to direct reports.
• Superior written and oral communication skills.
• Field experience.
• Demonstrates high self-awareness—seeks and embraces candid feedback with resiliency.
• Fosters collaborative environment
• Ability to respond promptly and effectively to sensitive inquiries or complaints.
• A proven track record of coaching, mentoring, and providing career development direction to direct reports.
• Ability to translate vision into concrete business plans and strategies.
• Experience driving effective team behaviors to ensure optimal outcomes.
• Ability to look for opportunities to drive change and challenge the status quo to improve organization.
• Proven track record of taking appropriate risks and uses failure as a learning opportunity.
• Possesses high ethical standards and expects the same from all others in the organization.
• Ability to establish and develop long-standing relationships.
• To qualify, all applicants must be authorized to work in the United States and must not require, now or in the future, VISA sponsorship for employment purposes.

Our Culture

IAT is the largest private, family-owned property and casualty insurer in the U.S. Insurance Answers Together® is how we define IAT, in letter and in spirit. We work together to provide solutions for people and businesses. We collaborate internally and with our partners to provide the best possible insurance and surety options for our customers. It’s about far more than being a workplace. We’re a work family.

At IAT, our fundamental belief is to create a culture where all employees are heard and have a sense of belonging. Inclusion and Diversity are not just initiatives, it’s how we live. We’re committed to driving and building an open and supportive culture. By embracing the uniqueness of our employees, investing in their development, listening to, and engaging their ideas, we are stronger as an organization.

Our employees propel IAT forward – driving innovation, stable partnerships and growth. That’s why we continue to build an engaging workplace culture to attract and retain the best talent.

We offer comprehensive benefits like:

·         26 PTO Days (Entry Level) + 12 Company Holidays = 38 Paid Days Off

·         7% 401(k) Company Match and additional Profit Sharing

·         Hybrid work environment

·         Numerous training and development opportunities to assist you in furthering your career

·         Healthcare and Wellness Programs

·         Opportunity to earn performance-based bonuses

·         College Loan Assistance Support Plan

·         Educational Assistance Program

·         Mentorship Program

·         Dress for Your Day Policy

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.  We maintain a drug-free workplace and participate in E-Verify.

Come join the IAT family!

Compensation:

Please note, the annual salary range associated with this posting is $175,000 – $290,000.  This range represents the anticipated low and high end of the base salary for this position.  The total compensation will include a base salary, performance-based bonus opportunities, 401(K) match, profit sharing opportunities and more.  Actual salaries will vary based on factors such as candidate qualifications, skills, and competencies related to this specific role. 

To view details of our full benefits, please visit https://www.iatinsurancegroup.com/careers/benefits