Underwriting Officer

Company: Liberty Mutual Insurance
Location: Chicago
Posted on: May 22, 2025

Job Description:

Schedule: Full-Time Salary Range: USD $89000.00 - $247000.00 Job Category: Underwriting The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role. Description The Multi-Buyer Trade Credit (MTBC) Underwriting Officer is an experienced, elite subject-matter-expert in the profitable sourcing, marketing, underwriting, execution, and caretaking of Trade Credit insurance. Beyond underwriting production responsibilities supported by higher level underwriting authority, the MBTC Underwriting Officer utilizes skills and experience to support and mentor team members and Liberty colleagues across the organization, develops new products, independently executes strategic marketing and underwriting initiatives, and identifies emerging Trade Credit risk factors in need of attention and mitigation to support the business and make things better. Key Responsibilities Strategy and Planning Support the development of MBTC and ensure delivery of the business plan in accordance with stated risk tolerances and underwriting strategy Execute new product and marketing strategies including end-to-end project management, risk underwriting framework, regulatory and form filing requirements, content development, operations, and marketing Generate and lead new initiatives to improve all aspects of the MBTC business reflective of the elite underwriting nature of the role Delivery Underwrite all types and sizes of Trade Credit Insurance risks in accordance with business plan and in compliance with delegated authority including risk and credit analysis, quote, negotiation, bind, issuance and policy servicing Establish and strengthen relationships with clients, brokers, industry bodies, business and consortium partners, and colleagues to maximize influence and achieve business objectives Conduct credit reviews of buyer/obligor financial statements, and set or recommend appropriate limits, aggregates and risk ratings based on the buyer's credit and financial strength Present LSM and MBTC strategy and data to both internal and external stakeholders on a regular basis including development and updating relevant content Further develop expertise and technical knowledge across critical risk categories including country, industry and emerging insurance risks and provide team updates In conjunction with the Country & Credit Risk Management (CCRM) team, contribute to and influence the review and analysis of the overall credit risk portfolio Engage internally to further develop and enhance risk and pricing models Interact with the Claims team on claims matters Ensure entries are properly recorded into relevant systems in a timely manner while ensuring accuracy of data in relation to both underwriting and aggregate exposures Conduct periodic reviews of underwriting files in support of the Peer Review process Policy, Process and Procedures Comply with all applicable internal and external laws, regulations, policies, procedures and guidance Adhere to underwriting standards, instructions, and best practice methodology to minimize risk as incorporated into the Underwriting Controls Framework Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviors as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to placing customers at the center of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviors at all times. These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing. People Management Actively mentor new hires and junior members of the MBTC team Act as a referral point for Financial Risk Solutions colleagues underwriting similar risks Utilize resources across the team to ensure business requirements are achieved Manage performance in accordance with the company's performance process Qualifications Knowledge, Skills & Experience Strong interpersonal and communication skills Strong credit and financial risk analysis skills Strong negotiation, organizational and prioritization skills Minimum 10+ years working in the Financial Services sector, preferably in an insurance company's credit and political risk insurance team, the credit/loan/syndication function of commercial or investment bank, or a Public Agency engaged in credit and/or political risk insurance or direct lending function Bachelor's degree is required with Business/Finance degree preferred. MBA preferred. Strong understanding of the drivers of Financial Institutions' use of risk mitigation products Experience in Emerging Markets credit risks Use of risk profiling and pricing tools and loss models Strong economic, political, and current affairs understanding and knowledge About Us As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally. At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow. We are proud to support a diverse, equitable and inclusive workplace, where all employees feel a sense of community, belonging and can do their best work. Our seven Employee Resource Groups (ERGs) offer a centralized, open space to bring employees and allies together to connect, learn and engage. We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law. Fair Chance Notices California Los Angeles Incorporated Los Angeles Unincorporated Philadelphia San Francisco Employment Type: Full Time

Keywords: Liberty Mutual Insurance, Elmhurst , Underwriting Officer, Other , Chicago, Illinois