What are the responsibilities and job description for the Surety Account Executive position at Kapnick Insurance Group?
Description
Founded in 1946, Kapnick Insurance is an independent insurance advisory firm with Michigan roots and a global reach. With a team of 200 professionals, we provide expert guidance and innovative solutions in business insurance, risk management, employee benefits, worksite well-being, and personal insurance. For over 75 years, businesses and individuals have relied on Kapnick as a trusted advisor, ensuring protection for their assets, operations, and employees.
The Surety Account Executive is responsible for evaluating and assessing the financial and operational risks associated with bonds, specifically surety bonds, issued to businesses and individuals, The role involves working closely with clients, prospects, underwriters, and agents to understand the details of the business and its financial position, determining the appropriate
underwriting terms, and providing expertise to mitigate risk while maintaining profitable portfolios. Represent our agency in a manner consistent with our Core Values and make Kapnick Insurance the best in our business.
Risk Assessment and Evaluation
- Analyze financial statements, credit reports, and other relevant information to assess the financial health and risk profile of applicants.
- Evaluate the capacity of applicants to fulfill bond obligations and manage potential liabilities.
- Review and assess project history, construction contracts, and business operations for bonding purposes.
Underwriting and Decision Making
- Collect risk information, understand underwriting guidelines, and company policies.
- Develop and recommend bond terms and conditions to ensure risk is appropriately mitigated• Provide guidance on appropriate bonding limits, pricing, and terms for clients and agents.
- Collaboration and Relationship Management
- Work closely with clients, prospects, underwriters, and agents to obtain necessary information for underwriting decisions.
- Build and maintain strong relationships with clients to ensure customer satisfaction and long term partnerships.
- Collaborate with claims and legal teams to understand and manage the potential exposure to issued bonds.
Market Knowledge and Strategy
- Stay informed on industry trends, market conditions, and competitors to make informed underwriting decisions.
- Identify and evaluate emerging risks or opportunities within the surety bond market.
Compliance and Documentation
- Ensure all underwriting decisions comply with regulatory and company policies.
- Maintain thorough records of underwriting decisions, client interactions, and bond agreements.
- Monitor the performance of issued bonds to ensure compliance with underwriting standards.
Other
- Perform your job in such a manner that other employees will consider it a pleasure and privilege to work with you.
- Offer innovation and process improvements where possible to help with agency wide improvements and efficiencies.
- Regular and timely attendance is an essential function of the job.
- Perform other duties as assigned.
Requirements
Bachelor’s degree in Business, Finance, Economics, or a related field: Required
Advanced certifications or a professional designation (e.g., CPCU, AFSB): Preferred
Certification such as Associate in Surety Bonding (ASB) or Surety Bond Specialist (SBS):
Preferred
- 3 years’ experience in underwriting, preferably in surety or a related insurance field.
- Experience in financial analysis, risk management, or credit analysis: Preferred
- Strong analytical and problem-solving abilities.
- Excellent verbal and written communication skills.
- Detail oriented with strong organizational skills and the ability to manage multiple tasks simultaneously
- Proficient in Microsoft Office (Word, Excel, Outlook, etc.) and underwriting software tools.
