Job Purpose

To manage the end-to-end procurement, issuance, administration, and renewal of Surety Bonds (Performance Bonds, Bid Bonds, Advance Payment Bonds, Retention Bonds, etc.) while coordinating with insurers, brokers, project teams, finance, and other internal departments to ensure timely compliance.

Key Responsibilities

1. Surety Bond Management

- Manage the complete lifecycle of Surety Bonds from requirement identification to issuance and closure.
- Arrange Performance Bonds, Bid Bonds, Advance Payment Bonds, Retention Money Bonds, and other contract-specific guarantees.
- Review tender documents and contract conditions to determine bonding requirements.
- Ensure timely issuance of bonds to avoid delays in project execution.

2. Coordination with Insurers & Brokers

- Coordinate with insurance companies, surety providers, and insurance brokers for quotations and placement.
- Negotiate competitive pricing, terms, and capacity with underwriters.
- Maintain relationships with existing and prospective surety markets.

3. Documentation & Compliance

- Prepare and submit financial and project information required by underwriters.
- Review bond wordings and ensure compliance with tender requirements.
- Maintain compliance with internal delegation of authority and approval processes.

4. Stakeholder Management

- Liaise with Project, Business Development, Commercial, Finance, Treasury and Procurement teams.




- Support bid teams in arranging Bid Bonds within specified timelines.
- Provide guidance on surety bond requirements during contract negotiations.

5. Monitoring & MIS

- Maintain a centralized Surety Bond register.
- Track bond validity, renewals, releases, and cancellations.
- Prepare monthly MIS on bond exposure, insurer-wise limits, utilization, premiums, and upcoming expiries.

6. Cost Optimization

- Develop strategies to reduce surety bond costs.
- Evaluate alternative surety markets and insurers.
- Support annual budgeting for surety bond premiums and related costs.

7. Audit & Reporting

- Provide documentation for internal and external audits.
- Maintain complete records of bond approvals, correspondence, and insurer documentation.

Qualifications

- Bachelor's degree in Finance, Commerce, Business Administration, Engineering, or a related discipline.
- MBA (Finance)/CMA degree is desirable.

Experience

- 510 years of experience in Corporate Insurance and exposure of Surety Bonds.
- Experience in infrastructure, renewable energy, EPC, power, manufacturing, or construction sectors is preferred.

Key Skills

- Solid knowledge of Surety Bonds in Indian market.
- Understanding of project contracts and commercial terms.
- Insurance market knowledge.
- Negotiation and stakeholder management.
- Financial statement analysis.
- Risk assessment.
- Proficiency in Microsoft Excel & PowerPoint.

📌 Senior Manager (Surety Bonds) (New Delhi)
🏢 SAEL Industries
📍 New Delhi