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- Tasks: Join our Surety team to underwrite and assess financial risks while learning from industry experts.
- Company: Respected insurance firm with a focus on professional growth and development.
- Benefits: Hybrid work options, comprehensive training, and opportunities for career advancement.
- Why this job: Kickstart your career in a dynamic field with real impact on construction and business projects.
- Qualifications: Experience in financial services or legal sectors; basic understanding of financial statements and contracts.
- Other info: Engage in a supportive environment with excellent mentorship and training opportunities.
The predicted salary is between 28800 - 43200 £ per year.
We are looking for an Associate Underwriter to join our respected Surety team in Manchester. This is a fantastic opportunity to begin, or progress, your career within this specialised area of insurance. You will need to have some experience in the financial services or legal sectors with a basic understanding of how to read and analyse financial statements and/or legal contracts.
Our experienced Surety team and specialised Bond School in the US will provide you with all the training and support you need to succeed. Surety is a credit-based product that financially secures contracts between two parties. It is typically used in the construction industry to assist with completion of projects, but also offers various different types of guarantees for industries outside of construction.
Over time you will learn how to underwrite both commercial and construction transactions, negotiate underwriting terms and indemnity agreements, review contracts and research statutory requirements of bonding in order to seek out profitable risk opportunities for our organisation.
Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy. This entails full time employees working three days a week in the office and two days at home (or pro rata for part-time employees). This policy may be changed at the Company’s discretion.
What Will You Do?
- Learn and understand Travelers’ financial underwriting requirements pertaining to surety credit risk.
- Underwrite and assess risk to maximise business growth and profitability for allocated broker panel or clients.
- Make appropriate decisions within facility authority in addition to considered, intelligent and complete recommendations to technical underwriting/business leadership.
- Make prompt, sound decisions within facility authority and based on appropriate underwriting information.
- Negotiate terms and conditions consistent with underwriting requirements and service.
- Understand and execute Travelers' underwriting strategies and principles to produce budgeted results.
- Work with Primary Underwriter on the same broker panel/client to continuously manage book of business, maintaining quality of business, growth and profit.
- Accountable for accurate bond underwriting documentation and information in account management systems and adherence to Travelers' documentation standards.
- Actively engage and seek out training opportunities to further develop underwriting expertise.
- Develop and leverage broker/client relationships through a high level of visibility and using a disciplined sales management approach (e.g. planning and follow-up for client visits/meetings) in support of business objectives.
- Effectively assist in the development, documentation and execution of sales plans with emphasis on increasing marketing and sales activities outside the office.
- Actively participate in scheduled underwriting and meetings.
- Demonstrate superior customer service standards (consistency, quick response, knowledge of products) to meet Travelers' service standards.
- Support maintenance of exposure tracking systems to enable accurate reporting and facility monitoring.
Assistant Underwriter - Surety in Manchester employer: Travelers Insurance Co. Ltd.
Contact Detail:
Travelers Insurance Co. Ltd. Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Assistant Underwriter - Surety in Manchester
✨Tip Number 1
Network like a pro! Reach out to people in the insurance and financial services sectors, especially those who work in surety. Attend industry events or webinars, and don’t be shy about introducing yourself. You never know who might have a lead on that perfect Assistant Underwriter role!
✨Tip Number 2
Brush up on your financial statement skills. Since you’ll need to analyse these for the role, practice makes perfect! Use online resources or even our StudySmarter tools to get comfortable with reading and interpreting financial documents.
✨Tip Number 3
Prepare for interviews by understanding the company’s underwriting strategies. Research Travelers Europe and their approach to surety. This will not only impress your interviewers but also help you articulate how you can contribute to their goals.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen. Plus, it shows you’re serious about joining the team. Don’t forget to follow up after applying; a little persistence can go a long way!
We think you need these skills to ace Assistant Underwriter - Surety in Manchester
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Assistant Underwriter role. Highlight any experience in financial services or legal sectors, and don’t forget to mention your understanding of financial statements and contracts. We want to see how you fit into our Surety team!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're interested in the Surety field and how your skills align with the job. Be genuine and let your personality come through – we love seeing the real you!
Showcase Relevant Skills: In your application, make sure to showcase any relevant skills that relate to underwriting, risk assessment, and negotiation. If you've had any experience managing client relationships or working in a team, let us know – these are key for success in this role!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets to us quickly and efficiently. Plus, you’ll find all the details about the role and our company culture there!
How to prepare for a job interview at Travelers Insurance Co. Ltd.
✨Know Your Numbers
Brush up on your financial statement analysis skills. Since the role involves understanding financial underwriting requirements, being able to read and interpret financial statements will show that you’re ready to dive into the nitty-gritty of the job.
✨Familiarise Yourself with Surety Basics
Do some research on what surety bonds are and how they function in various industries, especially construction. This knowledge will help you demonstrate your interest in the field and your commitment to learning more about it during the interview.
✨Prepare for Scenario Questions
Think about potential scenarios you might face as an Assistant Underwriter. Be ready to discuss how you would assess risk or negotiate terms. This will showcase your problem-solving skills and your ability to think on your feet.
✨Show Enthusiasm for Learning
Since the company offers training and support, express your eagerness to learn from the experienced Surety team. Highlight any past experiences where you’ve successfully picked up new skills or knowledge quickly, as this will align with their focus on development.
