Assistant Vice President, Surety

Job Description

Are you looking for your next opportunity?

Sompo has a unique opportunity for an Assistant Vice President - Underwriter on our Contract Surety team.

Sompo’s US Surety team partners with a nationwide network of independent agents and brokers to deliver surety bonding solutions for all types of businesses ranging from small to multinational. As one of the top 15 surety companies in the US, Sompo’s team has extensive experience in all lines of surety including contract, commercial and transactional. Sompo offers a full suite of bond products in all 50 states and Puerto Rico.

Location: This position will be based remote in Minnesota , with willingness to travel to market assigned territory that includes overnight trips. 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 assess risk acceptability in line with underwriting guidelines and standards.
• Evaluate applicants’ financial stability, creditworthiness, capacity, and related financial information to determine bond obligation risk and overall credit quality.
• Apply pricing components, rating methodologies, predictive modeling tools, and underwriting disciplines to price risk appropriately and minimize exposure.
• Prepare and analyze underwriting decisions, rate appeals, requirements, status updates, and declinations to support results across the assigned territory.
• Manage the assigned portfolio to achieve goals for premium, profitability, retention, product mix, new business, and overall portfolio performance.
• Build and manage producer and client relationships by prioritizing resources, developing distributor plans, strengthening pipeline opportunities, and driving profitable growth.

What you’ll bring:

• Bachelor’s degree and AFSB designation preferred.
• Minimum 7+ years of Surety underwriting experience required.
• Advanced expertise in Surety underwriting, including techniques, regulations, guidelines, coverages, and underwriting tools.
• Strong financial, credit analysis, and business development skills, with the ability to grow a profitable book, identify customer needs, and close deals.
• 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 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
• Who we are and what we stand for: At Sompo, our shared purpose is to create meaningful value for clients, communities, and each other. We strive to foster a workplace where everyone feels respected, included, and empowered to excel. As a global organization, we embrace diversity and champion equal opportunity. Guided by our core values—Accountability, Agility, Collaboration, Development, and Integrity—we build trust and support one another to achieve our goals worldwide. Life at Sompo page