Underwriter Surety (Hybrid, 80-100%)

About the Role

As an Underwriter Surety based in Madrid, you will be an integral part of our growing European surety team, connecting analytical insight with hands‑on client management. You will work closely with corporates and brokers across Spain, Portugal and internationally, balancing risk underwriting with client‑facing responsibilities. This role offers a fantastic platform to develop your surety career within one of the world’s leading surety groups.

Key Responsibilities

• Conduct risk assessments for new and existing clients, ensuring alignment with Swiss Re’s risk appetite while maintaining highest standards of client satisfaction.
• Develop and manage your own client portfolio and transactions, identifying and driving new business opportunities across Iberia and broader Europe.
• Analyse and evaluate credit and transactional risks in close collaboration with internal stakeholders, applying rigorous financial and legal due diligence.
• Approve transactions within your own authority levels and prepare structured submissions for relevant committees.
• Build and maintain strong client and broker relationships through regular, proactive engagement and direct interactions.
• Support Senior Underwriters with the execution and monitoring of complex bespoke transactions and management of key accounts.
• Conduct market analysis to identify changes in the underwriting, market and legal landscape, assessing their risk implications and adapting strategies accordingly.
• Collaborate with and support colleagues across the wider European Surety team, contributing to a culture of shared knowledge and continuous improvement.

About the Team

Backed by more than 150 years of experience, significant capacity and the financial strength of the Swiss Re Group, Swiss Re Corporate Solutions solves the risk management and financing needs of corporations around the globe. We pursue the goal of results‑oriented underwriting. The positive relationship with our customers and brokers across Europe, combined with our strong brand, is the foundation of our success. As part of a global team offering tailor‑made solutions across a broad range of surety products, you will have the opportunity to join a highly motivated team that shares the same passion for this business.

About You

You thrive in an international, team‑oriented environment and enjoy combining analytical thinking with client engagement. You are a proactive communicator who builds trust with clients and business partners naturally, and you bring a solutions‑focused mindset to every challenge. You are comfortable working both independently and collaboratively, and you are eager to contribute to the continued growth of a market‑leading surety business.

Requirements

• Minimum 3 years of relevant professional experience, preferably within a bank, surety insurer or financial institution with exposure to credit and guarantee products.
• Strong understanding of credit risks, particularly in relation to surety/guarantee structures.
• Proven analytical and decision‑making skills, with the ability to assess complex credit and transactional risks and translate findings into clear, structured recommendations.
• Confident communication and interpersonal skills, with experience engaging with clients, brokers and internal stakeholders.
• Spanish native speaker with proficiency in English (written and verbal) is essential.

Nice to haves

• Experience working with multinational corporations or in a cross‑border European surety/credit context.
• Familiarity with legal due diligence processes related to surety or guarantee transactions.
• Entrepreneurial mindset with a strong focus on identifying and originating new business opportunities.
• Experience using data and market intelligence tools to monitor portfolio performance and market trends.
• A university degree or equivalent qualification in finance, economics, law or a related discipline.
• The role may require some travel.

Remuneration

For Spain, the base salary range for this position is between EUR 47,000 and EUR 78,000 for a full‑time role. The specific salary offered considers the requirements, scope, complexity and responsibilities of the role, as well as the applicant’s own profile, including education, qualifications, specialisation, skills and experience. In situations where you do not meet all the requirements or you significantly exceed these, the offered salary may be below or above the advertised range. In addition to your base salary, you may be eligible for additional rewards and benefits including an attractive performance‑based annual bonus.

Equality and Diversity

Swiss Re Corporate Solutions embraces an inclusive culture, encouraging fresh perspectives and innovative thinking. Everyone has equal opportunities to thrive and develop professionally regardless of age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. Our flexible environment allows everyone to bring their authentic selves to work and their passion for sustainability.

We may use AI‑powered tools to support the review and evaluation of applications for this position. These tools provide additional insights to our recruitment teams, but all hiring decisions are carefully reviewed and made by people. To learn more about how we use AI in recruitment and how we handle your personal data, please review our Data Privacy Statement before applying.