Surety Director

Job Code: 11771
Location: Downtown Toronto, ON
Department: Commercial Insurance
# of openings: 1
Job Type: Full Time
Closing Date:

Description

Surety Director

LOVE WHAT YOU DO

Work is a big part of our lives, so it makes sense to choose a company that offers truly rewarding work. At Economical Insurance®, your contributions, creativity, and energy won’t go to waste. Our passionate culture and pioneering mentality infuse everything we do, which is why our one-million-plus policyholders know we’ll protect their homes, businesses, farms, cars, and pets like they’re our own.

We’re not afraid to see how far we can push the envelope to make insurance better. Our family of companies includes Sonnet, the only Canadian home and auto insurer offering a fully online buying experience, and Petline, the largest Canadian pet insurance company. We’re also preparing to become a publicly traded company, a once-in-a-lifetime career opportunity for everyone who joins our team.

If you’re looking for a company that takes care of its people — and its customers — and has a track record of doing big things, get ready to love it here.

What can you expect in this role?

  • Directly reporting to the VP of Surety, the Surety Director role is unique in that the individual will be required to manage the day-to-day requirements of the overall market-facing surety operation
  • Management and development of new and existing broker relationshis while utilizing authority to support or decline bid bonds, agreements to bond and final bonds from a diverse contract and commercial surety portfolio within the empowered authority matrix granted by VP surety
  • Oversight and management of quarterly, semiannual and annual financial u/w and overall status of all accounts within assigned region in accordance with department policies and procedures
  • Provide monthly update and execution reports to VP surety on key operational results relating to existing portfolio activity, new business metrics, market intel, marketing and relationship planning, and other as deemed necessary
  • Role includes 1- 2 days travelling sites/ clients/ contractors

What do you bring to the role?

  • Atleast 10+ years of Surety industry experience
  • Ability to analyze financial, legal, credit and construction data and provide high quality underwriting recommendations to support bid bond, agreements to bond and final bonds for existing book of clients based on quarterly/semiannual and annual reporting.
  • Provide expert level decision making ability and precise surety advice and direction when negotiating and approving daily bond requests.
  • Responsibilities for existing book would also include periodic underwriting audits and assisting with any financial/legal/claims related analysis
  • Ability to manage and assist in transformation of a team of surety employees including junior/intermediate/senior underwriters as well as associated administration staff
  • Provide Underwriting assistance and back up as necessary as well as be available to assist with decision making process for all reporting staff

We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.

Go ahead and expect a lot — you deserve it.

We offer: 

  • Competitive salaries, with potential for an annual raise and bonus
  • Pension and savings programs, with company-matched RRSP contributions
  • Generous time away, including vacation and personal needs days
  • Paid volunteer days and company matching on charitable donations
  • Educational resources, tuition assistance, and paid time off to study for exams
  • Two annual wellness campaigns — participants earn up to $300 each year to spend on almost anything supporting health and work-life balance (think things like spa days, daycare, pet grooming)
  • An unlimited employee referral bonus program
  • Flexible work schedule
  • Discounts on products and services

HOW TO APPLY

To complete the online application process, you’ll need to upload your resume and cover letter in one document.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting: hrsharedservices@economical.com.

Visit economical.com to learn more about us and what we’re up to.





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