SVP - Contract East Division

Job Purpose:

This position is accountable to execute underwriting decisions, as well as build and implement strategic plans for the contract bond business on a divisional basis. This position will work closely with the SVP-National Contract Surety Leader to maintain underwriting standards and discipline, ensure underwriting results and service that enhance overall profitability, production, and retention of the contract surety line of business. Typically manages multiple regions and teams with a combined premium of over $50 million.

Job Responsibilities:

Contract Bond Underwriting Strategic Leadership

• Creates the over-arching strategies and business vision for the East or West Division that will assure the long-term sustainability of the line of business. Proposes new directions and products to continue a profitable operation.
• Provides strategic vision and direction to the division. Leads setting of goals and accountability for division leaders and underwriters.
• Develops and builds succession planning. Develops successors for all levels of leadership in division.
• Works with the marketing department to follow and understand industry trends and data, and plan appropriately based on data. Attends industry events (NASBP, SFAA, regional surety association events, etc.) for networking and industry updates.
• Leads strategy planning sessions with teams and creates a business strategy that aligns with company goals.

Contract Bond Underwriting Management

• Hires, disciplines, and retains Contract Underwriting staff in their regions.
• Recommends salary and bonus actions to the SVP – National Contract Surety Leader for their divisional staff.
• Reviews annual budget for all regions and teams within their division. Reviews and approves expense reports. Approves PTO requests and exempt timesheets. 
• Conducts appraisals for any direct reports and collaboratively establishes their individual performance goals. Solicits performance feedback from Marketing. Holds any divisional underwriters accountable for agreed upon results and outcomes. 
• Assures that all contract underwriting associates on regional teams are capable of performing effectively. Approves direct reports’ participation in professional associations and attendance at conferences. Assures that training for new underwriters is effective and timely. 
• Researches, responds to, and resolves SFAA/MBI/AGC questions and issues based on their technical expertise within their region. 
• Coordinates with the Contract Underwriting and VP - Underwriting Operations regarding the assignment of Contract Underwriting Assistants to their region. 

Marketing and Relationship Management

• Markets Merchants Bonding through presentations, expert articles in industry publications, and participation in key events and industry sponsorship activities.
• Networks with industry representatives and counterparts across the country to stay aware of industry trends and best practices. Attends industry conventions as requested, including NASBP.
• Troubleshoots with underwriters in their region to increase production appropriately in low producing territories and resolve any issues.
• Contributes articles to Leaderboard as requested.

Contract Bond Underwriting Operations

• Underwrites large and unusual contract bond requests and those that require exceptions to current underwriting standards in the absence of their divisional underwriting staff. Approves all special acceptance submissions to reinsurers for their division. Prepares all quarterly reports provided to reinsurers for all teams in their region.
• Monitors each regional contract team’s performance. Oversees the creation of the Major Accounts report. 
• Operates within the authority established by the Senior Vice President - National Contract Surety Leader. Provides input for rate changes and filings within their region. Typically has the authority to review and approve exceptions, secure and release collateral, rates, non-standard requests, and other submissions based on authority limits established in the Merchants Bonding Underwriting Guidelines.

Education and Experience: Bachelor’s degree in Business, Accounting, Finance, Insurance, or a related field, or equivalent work experience. Minimum of 15 years of combined experience in strategic leadership, management, marketing, and underwriting in the Surety industry. Experience as an agent or in an agency setting would be very helpful. AFSB designation helpful. 

BENEFITS AT MERCHANTS

At Merchants, we value balancing the needs of our associates and their families. We're proud to offer a wide range of benefits designed to help you achieve a healthy work-life balance and support your personal and professional growth. In addition to competitive pay, bonus programs, and paid-time off, here are just a few of the amazing benefits:

• Flexible hybrid and remote opportunities with 37.5 hour work week
• Free health insurance option
• Paid volunteer time off with matching gift program
• Infants in the Workplace Program with family resources
• Discover more benefits at https://www.merchantsbonding.com/careers#nav-link-3

MERCHANTS BONDING COMPANY

Join the Merchants team and experience the difference of working for a surety-only company. At Merchants, we believe in the power of collaboration and teamwork, and we're committed to the success of our associates and customers by creating an inclusive culture that sets us apart and drives our success.

Our company is built on a foundation of providing common sense solutions and first-class experiences. From underwriting to claims and technology to marketing, every department and team collaborates together to achieve our common goal to be the most trusted team in surety.

Learn more about building your career at Merchants by visiting www.merchantsbonding.com/careers.