Sompo
Vice President, Surety - Product Counsel
Sompo, New York, New York, us, 10261
Are you looking for your next opportunity?Sompo has a unique opportunity for a
Vice President, Surety - Product Counsel
role in our Legal business unit with a close collaboration and partnership with the Surety Leadership team. This position will be responsible for providing the Sompo Surety business unit with counsel in all facets of suretyship ranging from indemnity matters to complex deal structuring.Location:
This position can be based out of any of our Sompo Offices as detailed below. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers.New Jersey: MorristownNew York: Garden City, New York City, PurchaseNorth Carolina: CharlotteTennessee: Mount JulietWhat you’ll be doing:Indemnity Agreement ReviewsProposals to GIAs for live dealsModifications to existing agreementsAdding/Releasing IndemnitorsPeriodic full form review & creation (protection adequacy and competitive market position)Capital retention agreementsClaims sharing agreementsBonded job contract reviewsBond form manuscript, modifications & change reviewsBond risk legal guidance (Appleton reviews, renewables industry related bond risks etc.)Surety operational contract reviews (e.g., collateral facility)Complex Deal Structure Guidance (legacy book deal workouts, new deal formations-SPEs, JV, Private Equity Involvement etc.)Collateral DemandsClaims waterfall advice (bankruptcy background)Audit process involvement (provide practical surety specific legal experience given the product’s niche nature)What You’ll Bring:At least 10-12 years’ current Surety Legal Counsel and/or Surety Claims experience in the insurance industryJuris Doctor degreeStrong experience attending mediations, negotiating settlements, and mitigating riskAbility to establish close working relationships with Underwriting, Legal and ClaimsExcellent presentation, verbal, and written communication skills (Candidates may be asked to provide writing samples)Analytical decision making and resource management skills with attention to detailStrong commitment to providing superior client serviceStrong negotiating, analytical, written, and organizational skillsStrong technical skills to include various in-house claims systems (Guidewire, Genius, ImageRight)Ability to travel approximately 10%-20% of the timeSalary Range:
$200,000 – $260,000. Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.Summary:
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contributionPharmacy benefits with mail order optionsDental benefits including orthodontia benefits for adults and childrenVision benefitsHealth Care & Dependent Care Flexible Spending AccountsCompany-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & childrenCompany-paid Disability benefits with very competitive salary continuation payments401(k) Retirement Savings Plan with competitive employer contributionsCompetitive paid-time-off programs, including company-paid holidaysCompetitive Parental Leave Benefits & Adoption Assistance programEmployee Assistance ProgramTax-Free Commuter BenefitTuition Reimbursement & Professional Qualification benefitsIn today’s world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions – we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
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Vice President, Surety - Product Counsel
role in our Legal business unit with a close collaboration and partnership with the Surety Leadership team. This position will be responsible for providing the Sompo Surety business unit with counsel in all facets of suretyship ranging from indemnity matters to complex deal structuring.Location:
This position can be based out of any of our Sompo Offices as detailed below. We strive for collaboration, which is why we offer a work environment where our employees thrive and develop long-lasting careers.New Jersey: MorristownNew York: Garden City, New York City, PurchaseNorth Carolina: CharlotteTennessee: Mount JulietWhat you’ll be doing:Indemnity Agreement ReviewsProposals to GIAs for live dealsModifications to existing agreementsAdding/Releasing IndemnitorsPeriodic full form review & creation (protection adequacy and competitive market position)Capital retention agreementsClaims sharing agreementsBonded job contract reviewsBond form manuscript, modifications & change reviewsBond risk legal guidance (Appleton reviews, renewables industry related bond risks etc.)Surety operational contract reviews (e.g., collateral facility)Complex Deal Structure Guidance (legacy book deal workouts, new deal formations-SPEs, JV, Private Equity Involvement etc.)Collateral DemandsClaims waterfall advice (bankruptcy background)Audit process involvement (provide practical surety specific legal experience given the product’s niche nature)What You’ll Bring:At least 10-12 years’ current Surety Legal Counsel and/or Surety Claims experience in the insurance industryJuris Doctor degreeStrong experience attending mediations, negotiating settlements, and mitigating riskAbility to establish close working relationships with Underwriting, Legal and ClaimsExcellent presentation, verbal, and written communication skills (Candidates may be asked to provide writing samples)Analytical decision making and resource management skills with attention to detailStrong commitment to providing superior client serviceStrong negotiating, analytical, written, and organizational skillsStrong technical skills to include various in-house claims systems (Guidewire, Genius, ImageRight)Ability to travel approximately 10%-20% of the timeSalary Range:
$200,000 – $260,000. Actual compensation for this role will depend on several factors including the cost of living associated with your work location, your qualifications, skills, competencies, and relevant experience.At Sompo, we recognize that the talent, skills, and commitment of our employees drive our success. This is why we offer competitive, high-quality compensation and benefit programs to eligible employees.Summary:
We continuously evaluate and update our benefit programs to ensure that our plans remain competitive and meet the needs of our employees and their dependents. Below is a summary of our current comprehensive U.S. benefit programs:Two medical plans to choose from, including a Traditional PPO & a Consumer Driven Health Plan with a Health Savings account providing a competitive employer contributionPharmacy benefits with mail order optionsDental benefits including orthodontia benefits for adults and childrenVision benefitsHealth Care & Dependent Care Flexible Spending AccountsCompany-paid Life & AD&D benefits, including the option to purchase Supplemental life coverage for employee, spouse & childrenCompany-paid Disability benefits with very competitive salary continuation payments401(k) Retirement Savings Plan with competitive employer contributionsCompetitive paid-time-off programs, including company-paid holidaysCompetitive Parental Leave Benefits & Adoption Assistance programEmployee Assistance ProgramTax-Free Commuter BenefitTuition Reimbursement & Professional Qualification benefitsIn today’s world, what do we stand for?
Ethics and integrity are the foundation of delivering on our commitment to you. We believe that core values drive success, and that when relationships are held in the highest regard, there is nothing that cannot be accomplished. At Sompo, our ring is more than a logo, it is a symbol of our promise. Click here to learn more about life at Sompo.Sompo is an equal opportunity employer and we intentionally value inclusion and diversity. Above all, we want you to work in an environment that respects everyone’s unique contributions – we are passionately committed to equal opportunities. We do not discriminate based on race, color, religion, sex orientation, national origin, or age.
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