Account Executive/Broker II - Aon Corporation

Surety Account Executive/Broker II - Chicago, IL

Are you passionate about construction and want to join a dynamic cultured, growing division of Aon?

Aon is seeking a Surety Account Executive/Broker II which is a growing team here at Aon.

This is a hybrid role based out of our Chicago, IL office.

Aon is in the business of better decisions

At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.

As an organization, we are united through trust as one inclusive, diverse team, and we are passionate about helping our colleagues and clients succeed.

How This Opportunity Is Different

This role will require account management for existing surety business and penetration of existing client and prospect opportunities. The role will be a part of the Southwest Surety Advisory team driving growth for contract and commercial surety lines across multiple Aon offices.

What the day will look like

• Provide account and brokerage services to new and existing Aon surety accounts. Proactively advise the client of opportunities to improve on existing surety program through re-marketing of bonds as needed. Ensure client retention and year over year book growth through penetration opportunities or new business growth is the key business result in which performance is measured.
• Receives requests from clients, prepares placement memorandums that requires the broker to describe the background and organization of a company, complete an outline of the risk analysis of the types of bonds required. Justify the extension of surety credit through the financial analysis of the client's audit and then make a recommendation of the terms, conditions, pricing, collateral, if required, and indemnity to support the transaction.
• Evaluates the financial condition of the client, the nature of the underlying risk, compares it to the credit liability associated with the request or program offering then independently decides which insurer to approach for terms and conditions. Then conveys the terms and conditions to the client and assists with rate/collateral benchmarking and negotiation of indemnity language.
• Receive quotes from the markets, completes Quote Disclosure reports, visibility and disclosure reports, limitation of liability agreements and provides advice on the execution of indemnity agreements and collateral transfers.
• Will be responsible for advising and coordinating the bond execution and delivery with the client fulfillment team who do the execution and data entry into AonBondLink. Ensure that documentation in client documents are up to date through use of AonBondLink. Attach financial information, program information and Transmission and Distribution (T&D) documents as needed. Ensure compliance with Aon standards and Business Practice Guidelines.
• Regularly meet with markets, understand how they price their products, the capacity they have available for each bond type and understand the nuances of surety market indemnity agreement. Ideally this candidate will have brokerage experience and risk expertise gained through prior transactions. Wide exposure to the National Surety team and with Aon’s Construction and Infrastructure group to align strategies.
• From a sales perspective, the broker serves as point of contact for other Aon colleagues to assist in advising their clients regarding surety matters, placing new bonds, or routing to other practice groups as needed. The ability to be excellent teammate, who seeks opportunities for innovation, engagement through a high Aon IQ and ability network across the Aon platform are key performance measurements.
• Overnight travel may be required and the ability to attend occasional meetings and social or industry events.

Skills and experience that will lead to success

• Minimum of 3 years of surety validated experience encouraged with prior underwriting or brokerage experience preferred.
• Understanding of financial and accounting principles with the ability to demonstrate sound business judgment in the evaluation of the financial condition, credit history, experience and character of contract accounts.
• Validated analytical ability to evaluate and judge underwriting risks within scope of responsibility.
• AFSB (Associate in Fidelity and Surety Bonding) certification preferred or on the path to certification with completion of the designation an expectation of continuing employment.
• Demonstrates strong ability to communicate sophisticated analyses and information in understandable written and/or oral directives for underwriting or training purposes.
• Demonstrates strong communication and social skills in dealing with clients, surety markets, CPAs, bankers, attorneys, etc. Required to build & maintain good business relationships.

Education:

• Bachelor’s degree or equivalent years of industry experience.
• Active Property & Casualty license must be maintained in order to accurately service clients, as well as ongoing continuing education.  P&C License must be obtained within 6 months of hire date.
• Advanced degree or professional designation is preferred, including CPCU, CPLU CIC or ARM, but not required.

How we support our colleagues

In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two “Global Wellbeing Days” each year, encouraging you to take time to focus on yourself.  We offer a variety of working style solutions, but we also recognize that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working!

Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.

Aon values an innovative, diverse workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace. 

Aon provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status. People with criminal histories are encouraged to apply.

We welcome applications from all and provide individuals with disabilities with reasonable adjustments to participate in the job application, interview process and to perform essential job functions once onboard. If you would like to learn more about the reasonable accommodations we provide, email ReasonableAccommodations@Aon.com 

For positions in San Francisco and Los Angeles, we will consider for employment qualified applicants with arrest and conviction record in accordance with local Fair Chance ordinances.

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.

The salary range for this position (intended for U.S. applicants) is $130,000 to $165,000 annually. The actual salary will vary based on applicant’s education, experience, skills, and abilities, as well as internal equity and alignment with market data.  The salary may also be adjusted based on applicant’s geographic location.

This position is eligible to participate in one of Aon’s annual incentive plans to receive an annual discretionary bonus in addition to base salary.  The amount of any bonus varies and is subject to the terms and conditions of the applicable incentive plan.

A summary of all the benefits offered for that position:

Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon’s discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions.  Eligibility for benefits is governed by the applicable plan documents and policies.