James Baldassare Jr.
Basking Ridge,NJ
Summary
I have over 30 years experience in the contract surety industry from both surety company and agency perspectives. Responsibilities include underwriting/managing individual account bond program's through extensive financial and management analysis, as well as managing and profitably expanding/growing agency book of business with commission revenues in excess of $10MM. I'm looking for an opportunity to compliment an organization's team in helping achieve stated goals and targets.
Overview
36
36
years of professional experience
Work History
Director of Surety
Turner Surety and Insurance Brokerage (TSIB)
Saddle Brook, NJ
10.2018 - Current
- Responsibilities entail managing the agency's daily surety operations.
- Supervising and managing a team of Senior Surety Analysts, Surety Analysts, and Administrative Assistants.
- Develop and sustain relationships with clients and surety markets while managing a profitable Surety business portfolio, which includes both "jumbo" accounts from "Affiliated" Business and "non-affiliated" accounts of diverse sizes.
- Applying business and financial expertise, conducting primary credit underwriting and risk assessments, and making informed recommendations and decisions regarding new and existing accounts.
- Supervising the continuous service of all accounts and identifying and implementing innovative procedures to uphold contemporary, efficient operational excellence within the Surety department.
- Additional capabilities include conducting analytical assessments of financial statements, overseeing the financial status, and analyzing interim financial reports and work-in-progress data as necessary.
- Investigating, analyzing, and managing all necessary underwriting, accounting, and workflow issues within the framework of existing policies and procedures, as well as monitoring the quality of account underwriting and business quality.
- Encompassing use of self-audit programs and financial ratio analysis reports, and provide direction for topics to be addressed with department staff, sales producers, contractors and others, as necessary, as well as analyze statistical reports, claims data, and other financial exhibits in making Surety program recommendations to TSIB Management.
- Identify and execute continuous operational improvement strategies to ensure Surety Department remains aligned with best practices.
- Additionally, negotiate program terms and rates with co-brokers and Surety markets to secure the most favorable terms for client accounts.
Executive Underwriter
Crum & Forster
Morristown, NJ
12.2016 - 09.2018
- Handled the existing portfolio of construction contract surety business for multiple surety agencies.
- Responsibilities entailed collaborating with agents to discuss, request, and compile updated financial statements for mutual clients, both corporate and personal, along with corresponding work-in-progress schedules, bank details, and business continuity planning.
- Conducting extensive financial and project analysis with presented underwriting information.
- Working closely with the Home Office company's underwriter to develop and sustain a consistent and relevant bonding program toward mutual client's profitable growth.
- Cultivating and expanding new agency partnerships to increase the company's network of agencies while acquiring profitable and suitable client categories.
- Increasing revenues while upholding fiscally conservative risk assessments and consistently fostering and preserving long-term relationships with both the agency and the mutual client.
President / Owner
NJB Capital, Inc.
Basking Ridge, NJ
01.2015 - 12.2017
- Small business investments in direct selling ventures and currency trading on a part time basis.
Underwriting Manager, Surety
Alliant Insurance Services, Inc.
San Diego, CA
11.2001 - 12.2015
- Managed the existing portfolio of construction contract surety business for the agency.
- Responsibilities entailed collaborating with business owners to discuss, request, and compile updated company and personal financial statements, relevant work-in-progress schedules, historical and current bank details, and plans for company continuation.
- Conducting thorough financial and project analysis and collaborating closely with surety company underwriters in identifying, establishing, and maintaining a consistent and appropriate bonding program essential for successful and profitable expansion.
Owner
Baldi Insurance Services
San Clemente, CA
01.2000 - 11.2001
- Managed the daily operations of a comprehensive contract surety bond agency, which was acquired by Alliant Insurance Services, Inc. in November 2001.
Agent / Broker
Quigley Insurance Services, Inc.
Aliso Viejo, CA
06.1997 - 12.1999
- Agent - Producer at a contract surety bond agency and also assisted in managing the agency's book of business.
Underwriter
Seaboard Surety Company / St. Paul Fire & Marine Insurace Company
Bedminster, NJ
01.1989 - 05.1997
- Served in both home office underwriting and (Irvine, CA) branch underwriting positions.
Education
Economics
Northeastern University
Economics
Raritan Valley Community College
2015 Somerset Leadership
Licensed NJ Property & Casualty Agent-Broker
Since 1998Skills
- Exceptional customer service
- Reliable
- Approachable
- Flexible
- Team player
- Organized
- Strong work ethic
Accomplishments
United States Marine Corps
- Graduated Honor Man Basic Training -USMCRD Parris Island, SC.
- Honorable Discharge
Municipal Government Elected Official, January 2018 - December 2023
- Mayor, Bernards Township 2022
- Deputy Mayor, Bernards Township 2021
- Mayor, Bernards Township 2020
- Deputy Mayor, Bernards Township 2019
Republican member of Municipal governing body - Publicly Elected-Official Bernards Township, NJ . Bernards Township operates under the Township form of New Jersey municipal government. The Township Committee is comprised of five members, elected by the public in partisan elections for three-year terms of office on a staggered schedule, with one or two seats coming up for election each year. All members have equal power and may vote on all issues. Township Committee hold all legislative and executive powers of the Township (except in matters of health). The Committee is charged with creating/setting policy for the effective and efficient operation of the municipality.
- Bernards Township Planning Board, Class 1 Member (Mayor's Designee)
January 2016 - December 2017
Responsibilities relating to the municipality's Master Plan, the preparation of capital improvement programs and the like, the Planning Board hears applications for site plan review, subdivision control, and conditional uses either with or without certain types of variances.
- Bernards Township Zoning Board of Adjustment January 2014 - December 2016 (Vice Chairman 2016)
Acts in a quasi-judicial manner generally conducting evidential hearings and rendering decisions on applications for "variances", which are deviations from the zoning regulations.
Timeline
Director of Surety
Turner Surety and Insurance Brokerage (TSIB)
10.2018 - Current
Executive Underwriter
Crum & Forster
12.2016 - 09.2018
President / Owner
NJB Capital, Inc.
01.2015 - 12.2017
Underwriting Manager, Surety
Alliant Insurance Services, Inc.
11.2001 - 12.2015
Owner
Baldi Insurance Services
01.2000 - 11.2001
Agent / Broker
Quigley Insurance Services, Inc.
06.1997 - 12.1999
Underwriter
Seaboard Surety Company / St. Paul Fire & Marine Insurace Company
01.1989 - 05.1997
Economics
Northeastern University
Economics
Raritan Valley Community College
2015 Somerset Leadership
Licensed NJ Property & Casualty Agent-Broker
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