Underwriter/Senior Underwriter

Great American's trade credit insurance division, FCIA, markets, sells, underwrites and services trade credit and political risk insurance. Credit insurance minimizes domestic and international nonpayment risk caused by financial, economic or political uncertainties. Credit insurance is also a useful tool for managing financial performance, increasing sales and optimizing balance sheet efficiency, as well as facilitating the financing of receivables. We offer our policies through brokers and independent agents.

Underwrite export and domestic credit and political risks, formulate underwriting decisions, and communicate underwriting results in verbal and written form to Supervisor, Senior Management, brokers and/or clients. Participate in Credit Committee and present underwriting conclusions and recommendations. Principal responsibilities include all aspects of servicing insureds and prospective insureds, including underwriting new and renewal single situation policy quotes, agreeing and/or formulating policy texts suitable to the situation, and maintaining the database of exposure, applications, and premium income. Organize workflow to accomplish timely response to brokers’ requests; perform financial statement and/or country risk analysis to formulate a decision, document the decision reached via written memoranda and communicate the decision reached to others in a timely manner. Develop and maintain excellent customer service relationships with brokers and insureds, and promote the Company and its products at the appropriate forums.

ESSENTIAL RESPONSIBILITIES

1. Prepare quotations for new or renewal business and summarize results in a written memorandum. Present recommendations to Supervisor and/or Credit Committee.

2. a) Analyze financial statements of buyers using FCIA’s proprietary tools. Review and analyze data from other available sources, including credit bureau reports. Determine buyer creditworthiness, level of country risk, industry risk and capacity to honor trade obligations based on the review. Process includes “spreading”of financial statements, review of application and supporting information, and formulating a credit decision. b) Analyze the country risk including the political and currency risks, using FCIA’s country grading system (and with regard to FCIA’s country capacity constraints) and online and published country reports, in relation to the risk being offered for coverage. c) Analyze the structure of the transaction being offered for coverage, with particular regard to the product and/or services to be sold and/or performed and the contract terms, in relation to the cover sought. d) Document conclusions in a written memorandum, and present recommendations to Supervisor and/or Credit Committee.

3. Develop and maintain relationships with brokers and insureds, communicating underwriting decisions in a clear and timely manner. Seek opportunities to enhance relationships with brokers with the objective of developing new business opportunities.

4. Respond promptly to brokers’ and insureds’ requests for underwriting actions, delivering prompt and courteous service. Follow up with brokers in a timely and courteous manner on outstanding underwriting actions and active quotes.

5. Become familiar with FCIA’s products and develop skills to become comfortable, confident and knowledgeable presenting FCIA’s product offerings to brokers and prospective insureds and negotiating coverage requirements.

6. Develop an understanding of the level of risk appropriate for policies and of the relationship of these risks to the balance of FCIA’s business.

7. Possess computer literacy, and become proficient with regards to the use of FCIA’s underwriting systems. Develop proficiency in the maintenance of the database of exposure, applications, premium receivables, and policy wordings.

8. Develop and maintain knowledge of the credit and political risk insurance marketplace, including familiarity with FCIA’s competitors, their products, and their pricing.

ASSOCIATED RESPONSIBILITIES
1. Performs other duties as directed.

Candidates must have a Bachelor's degree (Finance or Economics preferred) and 2-4 years of banking, insurance or related experience. Must have a strong knowledge of finance and economic principles and excellent analytical skills.

If interested, please apply online at http://track.jobviper.com/ViewJob.asp?id=492550-3-743