What are the responsibilities and job description for the Assistant Vice President, Commercial Surety position at Ascot Group?
Job Description
This is an opportunity to join Ascot Group - one of the world's preeminent specialty risk underwriting organizations.
Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we're bound by a common mission and purpose : One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.
The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model : Client Centric, Risk Centric, Technology Centric.
Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world-class service - both pre-and post-claims. Ascot exists to solve for our clients' brightest tomorrow, through agility, collaboration, resilience, and discipline.
Job Summary :
The Assistant Vice President, Commercial Surety is responsible for evaluating and underwriting complex commercial surety bond applications. This role involves assessing risk, determining appropriate bond terms and conditions, and ensuring compliance with company guidelines and regulatory requirements. The successful candidate will work closely with brokers, clients, and internal teams to develop tailored solutions and drive business growth in the commercial surety sector.
Responsibilities :
- Evaluate and analyze bond applications, including financial statements, credit reports, and other relevant information.
- Assess risk profiles and determine the appropriate level of surety capacity, terms, and pricing.
- Develop and maintain a thorough understanding of industry trends, market conditions, and competitor offerings.
- Collaborate with internal teams, including risk management, legal, and claims departments, to address underwriting issues and ensure cohesive risk management strategies.
- Identify and pursue new business opportunities within the commercial surety market.
- Participate in industry events, conferences, and networking opportunities to promote the company's surety products and services.
- Build and maintain strong relationships with brokers, clients, and other stakeholders.
- Provide expert guidance and support to brokers and clients on surety bond requirements and solutions.
- Negotiate and finalize bond terms and conditions with clients and brokers.
- Ensure all underwriting decisions comply with company policies, industry regulations, and legal requirements.
- Review and approve bond documents, including bond forms and agreements.
- Maintain accurate and up-to-date records of underwriting decisions and transactions.
Qualifications :
Compensation
Actual base pay could vary and may be above or below the listed range based on factors including but not limited to experience, subject matter expertise, and skills. The base pay is just one component of Ascot's total compensation package for employees. Other rewards may include an annual cash bonus, and other forms of discretionary compensation awarded by the Company. The annualized base pay range for this role is : New York City - $145,000 - $190,000.
Company Benefits
The Company provides a competitive benefits package that includes the following (eligibility requirements apply) :
Health and Welfare Benefits : Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Life Insurance, AD&D, Work / Life Resources (including Employee Assistance Program), and more
Leave Benefits : Paid holidays, annual Paid Time Off (includes paid state / local paid leave where required), Short-term Disability, Long-term Disability, Other leaves (e.g., Bereavement, FMLA, Adoption, Maternity, Military, Primary & Non-Primary Caregiver)
Retirement Benefits : Contributory Savings Plan (401k)
LI-Hybrid
Salary : $145,000 - $190,000
