Vice President, Surety - Product Counsel

As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.Job DescriptionAre 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 JulietOur business, your impact, our opportunity:What you'll be doing: Indemnity Agreement ReviewsProposals to GIAs for live dealsModifications to existing agreementsAddingReleasing IndemnitorsPeriodic full form review & creation (protection adequacy and competitive market position)short formdemand languageCapital retention agreementsClaims sharing agreementsBonded job contract reviewsBond form manuscription, 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 skillsCandidates may be asked to provide writing samplesAnalytical 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 approximate 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.Our compensation program is built on a foundation that promotes a pay-for-performance culture, resulting in higher incentive awards, on average, when the Company does well and lower incentive awards when the Company underperforms. The total compensation opportunity for all regular, full-time employees is a combination of base salary and incentives that gets adjusted upfront based on overall Company performance with final awards based on individual performance.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.

Created: 2025-01-08