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Surety Underwriter Director (Oil & Gas)
- We are looking for an experience O&G banker interested in the insurance market
- Ideal candidate has solid O&G connections and a credit underwriting background
About Our Client
Our client is a very large insurance group, looking to expand it's footprint in O&G through the surety business unit.
The candidate will be responsible for managing existing portfolio of Plugging and Abandonment (P&A) guarantees for Oil and Gas customers located in the Gulf of Mexico and on-shore in the U.S.
Current exposure represents significant notional limits spread across 200+ customers. Candidate will also be responsible for developing qualified leads and growing the business if underwriting conditions warrant.
There is no need to a hunter business development focus as most businesses are sourced exclusively through a strategic partnership with a high-profile Managing General Underwriting Agency located in Houston.
Key responsibilities include:
- Credit analysis on corporate guarantors.
- Analysis of oil and gas reserves with particular attention to SEC data, Reserve Reports and other third party data sources.
- Perform credit surveillance on existing accounts to anticipate credit-quality deterioration.
- Proper documentation of corporate guarantees and collateral, if applicable, associated with each customer.
- Maintaining market presence in Texas and surrounding states in the O&G space and a deep understanding of the reputation and background of key O&G corporations, management teams and reserve basins.
- Manage workouts with financially-challenged customers via improvement in terms and conditions or monitoring reorganization proceedings to assure a smooth transition through Chapter 11, if applicable.
- Provide monthly exposure reporting to Surety Risk Management.
The Successful Applicant
- Bachelor's degree in Business/Finance or a related field or the equivalent education and/or experience.
- Minimum of eight years of relevant and progressive experience as an analyst/lender to the Oil and Gas Industry.
- Excellent written and verbal communications skills and attention to detail.
- Superior organizational and analytical skills; demonstrated ability to manage multiple tasks simultaneously
- Intimate knowledge of the Oil and Gas industry including industry changes, legal updates and technical developments related to the customer base.
- Advanced proficiency and experience using Microsoft Office Package (Excel, Access, PowerPoint, Word)
KNOWLEDGE OF SURETY AND P&A INSURANCE WILL BE A PLUS. EXPERIENCE WITH OIL&GAS MARKET IS A MUST.
What's on Offer
Very competitive package to attract a Corporate Banker Vice President (base + aggressive bonus). This person will have pretty standard work hours. Limited amount of businesses trips outside of Texas.
This role could provide a much steadier job security than the banking market in the U.S.