Job Description

Job Description

Position Overview

Colonial Surety Company is seeking an experienced Contract Surety Bond Manager to lead the underwriting, account management, and growth of its contract surety portfolio. This role oversees bid, performance, and payment bond business, evaluates contractor qualifications, and ensures timely service while maintaining sound underwriting standards.

The ideal candidate combines strong financial analysis skills with practical knowledge of construction, contractor operations, and surety risk. This is a hands-on management position requiring collaboration with sales, operations, finance, legal, and technology teams.

Key Responsibilities

\n
• Manage day-to-day contract surety operations, including submissions, underwriting reviews, approvals, bond issuance, and account monitoring.
\n
• Evaluate contractor financial statements, work-in-progress schedules, cash flow, credit history, ownership, and construction experience.
\n
• Establish and recommend single-project and aggregate bonding limits within delegated authority; refer exceptions for approval.
\n
• Assess project terms, bond forms, indemnity agreements, and collateral requirements in coordination with legal counsel.
\n
• Monitor contractor backlogs, financial performance, outstanding obligations, and emerging risks.
\n
• Manage and develop underwriting and account management staff, providing training, coaching, and quality oversight.
\n
• Build relationships with contractors, agents, brokers, and other referral partners to support profitable growth.
\n
• Partner with field sales representatives to qualify prospects and develop accounts without compromising underwriting discipline.
\n
• Coordinate with claims and legal teams on defaults, claims, and other material account concerns.
\n
• Maintain accurate account records and ensure adherence to company procedures, underwriting guidelines, and applicable requirements.
\n
• Track submission activity, turnaround times, conversion rates, premium production, and portfolio performance.
\n
• Identify opportunities to improve online applications, contractor portals, internal workflows, and reporting.
\n

Qualifications

\n
• Five or more years of contract surety underwriting experience with an insurance carrier or surety organization, including supervisory or team leadership experience.
\n
• Demonstrated ability to analyze contractor financial statements and work-in-progress schedules.
\n
• Strong understanding of bid, performance, and payment bonds, indemnity agreements, and construction contracts.
\n
• Experience setting bonding capacity and managing contractor relationships.
\n
• Strong judgment, communication, organization, and problem-solving skills.
\n
• Ability to balance business development, customer service, and prudent risk selection.
\n
• Bachelor’s degree in finance, accounting, business, construction management, or a related field preferred; equivalent relevant experience considered.
\n
• Relevant insurance licensing or professional designations preferred, as applicable to the position.
\n

Success in This Role

Success will be measured by profitable portfolio growth, underwriting quality, responsive service, account retention, staff development, and effective management of contractor exposure.

About Colonial Surety Company

Colonial Surety Company provides surety bonds, fidelity bonds, and business insurance through direct and partner distribution channels. Its digital platforms help contractors and business professionals obtain and manage the protection they need.

Job Tags

Similar Jobs