Assistant Vice President

Job Description

Are you looking for your next opportunity?

Sompo has a unique opportunity for a Commercial Surety Assistant Vice President – Underwriter.

Location: This position can be based out of our Scottsdale, AZ, Los Angeles, CA or Denver, CO offices.  We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers.

Our business, your impact, our opportunity:

What you’ll be doing:

• Review submissions and financial requirements to determine acceptability of risk in accordance with guidelines and standards.

• Analyze the financial stability, creditworthiness, and experience (capacity) of applicants (principals) to determine the likelihood of fulfilling their obligations under a bond.

• Analyze financial statements, credit reports, and other relevant financial information for new and existing accounts to assess credit quality.

• Understand pricing components and rating methodology as well as use of the predictive modeling tools to price risk based on financial and competitive analysis.

• Use all appropriate underwriting tools, disciplines, and knowledge of strategies to ensure underwriting guidelines are followed.

• Prepare or analyze information on adverse underwriting decisions, rate appeals, underwriting requirements, status, and declinations to drive results within the assigned territory. 

• Adhere to CAT guidelines and underwriting discipline to minimize exposure and appropriately price.

• Manage assigned portfolio to achieve gross written premium, profitability, rate, retention, product mix, new business, and portfolio management goals. 

• Prioritize time and resources to effectively manage and optimize producer performance. 

• Develop producer relationships to build pipeline, agency intelligence, and drive performance to meet and exceed results.

• Develop and implement distributor specific plans, monitor performance, and adjust plan to ensure a substantial pipeline for future profitable growth. 

• Drive effective relationship management and client activities to build trust, facilitate negotiation and secure commitment to the customer.

What you’ll bring:

• Bachelor’s degree preferred.

• AFSB preferred.

• Minimum 7+ years of Surety underwriting experience.

• Advanced knowledge of Surety underwriting, techniques, national/local filing regulations and guidelines.

• Strong financial acumen and credit analysis skills.

• Expert knowledge of underwriting processes, coverages, and tools to gather and evaluate information to reach appropriate decisions on renewals and new business. 

• Demonstrated ability to build and grow a profitable book of business and pipeline for future business.

• Ability to uncover customer needs, position specific solutions, handle objections and close deals.

Salary Range: $125,000 - $200,000 Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.

At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.

Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of a base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.

We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:

• Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contribution

• Pharmacy benefits with mail order options

• Dental benefits including orthodontia benefits for adults and children

• Vision benefits

• Health Care & Dependent Care Flexible Spending Accounts

• Company-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & children

• Company-paid Disability benefits with very competitive salary continuation payments

• 401(k) Retirement Savings Plan with competitive employer contributions

• Competitive paid-time-off programs, including company-paid holidays

• Competitive Parental Leave Benefits & Adoption Assistance program

• Employee Assistance Program

• Tax-Free Commuter Benefit

• Tuition Reimbursement & Professional Qualification benefits

In today’s world, what do we stand for?

Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.

Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions – we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.