As a Surety Underwriter based in Australia, I work with some of the largest firms Down Under, usually investment grade construction companies. Although I’ve only been working in surety for less than a year, I was able to take the leap into this new domain because of my diverse international background and the similarity in the profile of clients I had during my time in investment banking. While working in London, I used to originate investment grade bonds in Debt Capital Markets, where clients were CFO’s and treasurers of large-cap companies. Now, at Allianz Trade I assist clients underwriting surety bonds and guarantees.

I joined Allianz Trade on the heels of a major life change­ – during the pandemic I moved my family from Spain to Australia for a fresh start. My career up to that point included international positions in business development within: trade credit insurance, investment banking, logistics, and even a brief foray into private equity ventures. The seven years prior to joining Allianz were spent as what here is called “chief-of-staff” to the CEO of a leading shipping company in Europe, working behind the scenes on dispute management, project management and institutional relations with the European Commission.

Quickly after I arrived in Australia, someone in my network who worked for Allianz Trade reached out to me. An informational interview led to a job offer when they saw that my experience was a great fit for surety – much to my surprise! One thing that enticed me to accept the offer was knowing that there could be opportunities to live and work in different countries as I develop through my career in Allianz. International mobility is something I have always been excited about and have always taken on as a personal initiative, assuming all risks entailed. My family background has significantly influenced this part of my personality. For me, it doesn’t get any better than keeping that path available to me with the support of an employer like Allianz.

We went into lockdown in Sydney shortly after my first interview, so my whole onboarding process took place remotely. In fact, it was just a month ago that I stepped into the office for the first time!

While there are advantages to working from home, I sometimes missed getting a sense of the bigger picture of the company culture without the opportunity to meet in person. Because I couldn’t learn by being present and observing colleagues and bosses, I relied on emails and intranet articles to grasp the company culture.

For me, the most important thing about a job are your bosses and your team and I felt naturally comfortable with each and every one of them from day one. They have been empowering me and motivating me since I joined, which reaffirms what I was told about Allianz Trade caring for their employees.

Allianz Trade set me up with a buddy, and we have a morning team call every other day, which really helped me feel connected and part of the structure. The whole team has been so friendly and approachable. They always remind me: “There’s no such thing as a stupid question!”

It’s very reassuring to be working within such a strong economy. Not having to worry about going into a recession enables me to focus fully on my job. Australia is doing very well in surety with big goals for the Asia-Pacific region. It’s exciting to be working in a growth context and having the chance to put all my past experiences to use.

The more I learn, the more I realize my boss was right: my previous experiences align perfectly with the requirements of commercial surety underwriting. It’s not sales, risk analysis, or operations – it’s actually a blend of all of these areas. In one same morning, I might be researching prospects, discussing financial analysis with our analysts, conversing with a lawyer about a legal clause and negotiating commercial terms with a broker.

In addition to financial analysis, banking, and corporate development, relationship skills are crucial because we regularly speak with treasurers and CFOs of major corporations. Trade Credit Insurance, for example is midway between insurance and corporate banking, while surety more closely resembles the banking side of things. Each person on the team brings a unique blend of experience, and having that diversity is extremely beneficial!

Daniel Criado-Pérez

Surety & Guarantee Underwriter

Allianz Trade in Australia