After arriving at Allianz Trade in the midst of exploring career paths, Sofija Terdevci and André Subbe discovered surety to be a natural fit. Here, the hybrid Account Managers and Risk Underwriters speak on the unique business of surety and how they stay on top of their manifold duties.
What sparked your journey to join Allianz Trade?
Sofija: I first joined Allianz Trade as an employee performing general office activities. Although I had planned to explore many different companies, I chose to remain at Allianz Trade because I saw so many opportunities to develop my career. I went on to work in lots of different departments before a colleague suggested that I apply for a position in Bond Production. Sure enough, I found surety intriguing in that it struck me as a completely different business than regular credit insurance.
André: I was lucky to run into a former colleague who happened to work for Allianz Trade and spoke highly of her experience there. I was working in banking at the time but was looking for new opportunities, so I applied and was recruited to Bond Production. Later, when asked if I could see myself working as an account manager, I interned with the Mid Corp team, which looks after Allianz Trade’s client base of globally operating mid-sized companies with subsidiaries in multiple countries. Then, I applied internally for my current role.
What are your responsibilities in your current role?
André: As a Risk and Contract Underwriter, I am responsible for everything related to the surety contract. A typical day for me involves analysing contract and bond applications, assessing risks and determining appropriate terms and conditions for bonds. I also communicate with clients, brokers and internal stakeholders to gather necessary information and ensure efficient processing of bond requests.
Sofija: In my hybrid role as Risk and Contract Underwriter, I am responsible for the entire process that goes into establishing a surety contract for ‘surety facilities,’ or coverage, of up to €7.5 million. I therefore review incoming applications, evaluate to what extent a surety facility can be granted, draft contracts, and support the client and eventually their broker on a daily basis.
What challenges have you encountered and overcome in your role?
Sofija: After six years in Bond Production, I was looking for a new challenge – and I found one. Navigating the responsibilities of my current role has put me on a true learning marathon. It’s been a great opportunity to gather expertise on the complete surety package, from issuing a bond and assessing credit risk, up to managing client relationships. I’ve learned that when you focus on one thing, you can make better progress and achieve your goals more effectively.
André: I initially struggled with the fast-paced nature of my current position, which demands that I manage multiple projects at once. Over time, however, I developed better organizational skills which have significantly improved my productivity and job satisfaction overall. That’s one thing I’ve grown to appreciate about surety: it’s full of varied, diverse work that continuously prompts me to build upon my professional skillset.
What skills do you employ day-to-day in surety?
Sofija: As a Risk and Contract Underwriter, it’s important to have both analytical and communication skills, as well as a good understanding of the industries and economic situation in order to assess risks. And as a general principle, you need to be able to make quick decisions. We are working in a very fast-paced environment – one thing for certain is that surety never gets boring!
André: Important assets to have in surety include strong attention to detail and effective negotiation skills. Due to technological advancements, the surety landscape has evolved significantly in the last five years to encompass increased regulatory scrutiny and a shift towards more innovative solutions. In that regard, I would add that adaptability and knowing how to foster relationships are also crucial. Because there are always several tasks on the table at once, being a calm person helps me in my daily business.
What would you say to someone interested in a career in surety?
André: Surety is a critical component of risk management. By working in surety, you’re helping to provide financial security and building trust between parties, ultimately enabling businesses to pursue growth opportunities with confidence.
Sofija: This field presents major challenges, but throughout my professional experiences I have learned to remain open and excited about them. As said by the Greek philosopher Heraclitus, "the only constant in life is change.” Surety is a great way to help clients grow their business, to actively contribute to the economy and, essentially, to have a positive effect on the world.
