Job Description

Job Location West Des Moines, IA 50266 Position Type Full Time Salary Range $87,000.00 - $130,000.00 Salary/year

Say Yes to the Best Career Opportunities

Merchants Bonding Company™ is hiring professionals who value clarity, collaboration, and opportunities to make an impact. Our team is growing, and we’re looking for people who thrive in a fast-moving environment built on common sense underwriting and first-class experiences. If you're ready for the next step in your career with a team that says yes to the best, this is your opportunity.

Territory Contract Underwriter

Job Purpose

A Territory Contract Underwriter evaluates and underwrites contract surety bonds submitted to the Company within established parameters and guidelines, contributes to a profitable surety operation, and to the marketing of other lines of business.

Core Work Responsibilities

Underwriting Analysis and Documentation

• Determines the acceptability of surety risks, based on the Merchant’s guidelines and marketing strategy. Operates within the authority established by the Senior Vice President – Contract Underwriting.
• Reviews agent submissions/applications and assures that business statements, personal statements, and work-on hand schedules are analyzed and noted properly. Accurately evaluates for future profit or loss potential and verifies appropriate rates for the risk. Obtains background information and references in order to analyze and properly evaluate the risk. Prepares contract bond quotations. Responds to questions regarding the proposed program and rate.
• Creates year end updates on accounts and provides direction to the agent regarding further handling of the account.

• Assures an accurate count of our contract bond backlog by keeping existing files and the status of existing bonds up to date. Maintains current File Notes, reflecting significant events and important information regarding the account.
• Reviews specific contract bond forms and contracts to assess acceptability of risk. Recommends potential contract wording or revisions to make the risk more acceptable to the Company.
• Presents account terms and conditions properly so they are easily distinguishable and understood.
• Maintains current data on Underwriting Information Sheet for all major accounts.
• Serves as backup to other team underwriters in their absence to respond to client questions and issues.
• Works effectively within their assigned level of authority. Prepares documented recommendations on requests that are outside their level of authority.
• Prepares quarterly team production reports and travel recaps based on team specifications.

Marketing and Relationship Building

• Maintains positive relationships with existing agencies and major accounts, including regular on-site visits. Continues to build premium and business opportunities with key agents and accounts. Solicits feedback regarding our service levels and performance.
• Maintains current account and relationship information. Completes meeting summaries in a timely fashion.
• Develops new business opportunities by prospecting for new agency relationships. Effectively utilizes marketing materials in presentations, proposals, and other marketing efforts.
• Represents Merchants Bonding and their interests professionally at industry functions. Networks with industry peers and experts to stay up-to-date on industry developments and potential legislative issues.
• Plans and manages effective meetings with agents and/or contractors using effective meeting management tools.
• Establishes and achieves quarterly and annual production goals. Typically handles up to $1.5 million in production.

Qualifications

• Bachelor’s degree or equivalent work experience in business, underwriting, insurance, or a related field, plus 3-6 years of experience in bond underwriting or a similar role in the Surety industry. Coursework in math, statistics, and financial analysis would be helpful.

Benefits at Merchants

At Merchants, we value balancing the needs of our associates and their families. We offer a wide range of benefits designed to help achieve a healthy work-life balance and support personal and professional growth. In addition to competitive pay, bonus programs, and generous paid-time off, here are a few stand-out benefits:

• Flexible hybrid and remote opportunities with 37.5 hour work week
• Free health insurance option
• Paid volunteer time off with matching gift program
• Infants in the Workplace Program with family resources
• Discover more at: https://www.merchantsbonding.com/careers#Benefits

About Merchants

For nearly a century, Merchants Bonding Company has focused almost exclusively on surety, delivering common sense underwriting and first-class experiences to agents, accounts, and associates across the country. Merchants stands apart from multi-line carriers by offering deep surety expertise, a flexible approach, and strong financials that instill confidence and foster lasting partnerships.

Our people-first culture is built on collaboration, inclusion, and shared success. We’re committed to helping associates grow through real opportunities for advancement, while supporting a sense of belonging.

If you're looking to join a company that values your unique perspective, encourages new ideas, and invests in your development, apply today!

Qualifications