Surety Underwriter (Deputy Manager / Manager)

Job Title: Surety Underwriter

Qualification

• Commerce Graduate (B.Com/BBA Finance or equivalent)
• MBA (Finance) / CA / CMA (CWA) / CS / Master's in Commerce & Finance preferred
• Candidates from Banking, NBFCs, Rating Agencies, Insurance Surety Businesses, or Credit Risk Assessment backgrounds will be preferred

Job Summary

The Surety Underwriter will be responsible for evaluating and underwriting surety bond proposals by conducting detailed financial, credit, and risk assessments of business entities across diverse industries. The role requires strong analytical capabilities, understanding of financial statements, credit underwriting, and expertise in Bank Guarantees, Surety Bonds, and related credit products. The incumbent will work closely with business teams to assess risk exposures and recommend appropriate underwriting decisions while ensuring compliance with organizational policies and regulatory requirements.

Key Responsibilities

 

Underwriting & Risk Assessment

• Assess and underwrite Surety Bond proposals for corporate, SME, and contractor clients across various industries.
• Conduct comprehensive credit and financial analysis of applicants to evaluate their repayment capacity, financial stability, and overall creditworthiness.
• Analyze borrower financials including:
• Liquidity Ratios
• Leverage Ratios
• Solvency Ratios
• Profitability Analysis
• Cash Flow Analysis
• Working Capital Cycle Analysis
• Net Worth Assessment
• Auditor's Report Review
• Evaluate credit reports, banking conduct, payment track records, and external risk indicators.

Financial & Business Analysis

• Develop a thorough understanding of the client's:
• Business model
• Industry dynamics
• Market positioning
• Management and ownership structure
• Economic and sectoral conditions
• Growth plans and business projections
• Assess project viability and ongoing concern status of prospective customers.

Surety & Guarantee Underwriting

• Evaluate risks associated with:
• Surety Bonds
• Bank Guarantees
• Performance Guarantees
• Bid Bonds
• Advance Payment Guarantees
• Financial Guarantees
• Recommend suitable underwriting structures, limits, collateral requirements, and risk mitigation measures.

Portfolio Monitoring

• Monitor existing bond and guarantee portfolios to identify early warning signals of financial deterioration.
• Conduct periodic reviews of customers' financial performance and risk profiles.
• Recommend corrective actions and exposure management strategies where required.

Credit Reporting & Documentation

• Prepare detailed underwriting notes, risk assessment reports, and recommendation papers for approval authorities.
• Ensure all underwriting decisions are appropriately documented and comply with internal credit policies, underwriting guidelines, and regulatory requirements.
• Present findings and recommendations to senior management and underwriting committees when required.

Stakeholder Management

• Coordinate with business development, sales, risk, legal, and operations teams for proposal evaluation and decision-making.
• Support negotiations on terms and conditions to ensure an appropriate balance between business growth and risk management objectives.
• Build relationships with brokers, clients, banks, and internal stakeholders to facilitate efficient underwriting processes.

Desired Skills & Competencies

• Strong understanding of Credit Underwriting and Risk Assessment.
• Knowledge of Surety Bonds and Bank Guarantee products.
• Expertise in Financial Statement Analysis and Ratio Analysis.
• Understanding of Credit Risk Management frameworks.
• Strong analytical and decision-making skills.
• Knowledge of banking and financial services regulations.
• Excellent report writing and presentation skills.
• Proficiency in MS Excel and financial modeling.
• Attention to detail and high level of commercial acumen.

Preferred Background

Candidates currently working with:

• Banks (Credit/Risk/Guarantee Functions)
• Financial Institutions/NBFCs
• Credit Rating Agencies
• Surety Insurance Companies
• Trade Credit Insurance Companies
• Credit Risk Consulting Firms

Preferred Experience

• Exposure to Working Capital products such as Bank Guarantees (BG), Letters of Credit (LC), Overdrafts (OD), and Term Loans.
• Experience in credit appraisal of businesses with exposure ranging from small and medium enterprises to large corporates.
• Familiarity with surety underwriting practices and risk evaluation methodologies.