Junior Surety Underwriter Job Description

By | November 21, 2011

Junior Surety Underwriter Job Profile and Description

A junior surety underwriter works with a business institution and acts as the decision maker of surety bonds. He has to formalize the criteria on which surety bonds are approved and has to check with the customer’s profile on those lines. It is his discretion if a certain customer would be given the approval of a bond and to what extent the rate should be fixed. At the junior level, the surety underwriter has to only assist his superiors and learn the intricacies of the job before graduating to the senior post. Since it is a very volatile area and the market is rigged with downsides, the job demands a lot of understanding about the bond industry and the way surety contracts work.

Junior Surety Underwriter Duties and Responsibilities

The following duties and responsibilities form the sub-parts of the job:

  • Examining the documents submitted by parties who want to start a new business with the firm
  • Keeping the existing files safe
  • Working on methods to improve business scope and expanding its base
  • Communicating the ventures and information to the main office from where the final approval is obtained regarding any step
  • Reviewing the customer’s datasheet in isolation to find out about his past business relations
  • Understanding the liabilities, obligations and debts working under each bond category
  • Interviewing the customers and negotiating bonds with them followed by arranging meetings between the customer and the legal representative
  • Working as per the seniors’ order

Junior Surety Underwriter Skills and Specifications

Further dissection of the job profile reveals the following skills mandatory for the job:

  • Computer skills especially in MS Office to work with Word, database and internet
  • Interactive skills to question and answer clients on their personal data and to make professional interactions more meaningful
  • Negotiation skills help in arriving at a proper agreement without raising further speculation
  • Good analytical skills to evaluate external sources of danger and to review the corporate agenda fixed for the bonds
  • General knowledge about securing mortgages

Junior Surety Underwriter Education and Qualifications

The degrees required for the job post have been enlisted in the following section:

  • Post-secondary education in any of these disciplines: commerce, business, law
  • Professional degrees like CMA or CGA in accounting

Junior Surety Underwriter Salary

The average salary of a junior surety underwriter is $60,000 with individual variations.