Delegated Underwriting Assistant

3 weeks ago

London, United Kingdom Munich Re Full time
Delegated Underwriting Assistant (Onboarding)

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Delegated Underwriting Assistant (On-boarding)

We are looking to employ a Delegated Underwriting Assistant to be based in London or Manchester and to work with us on a Full Time basis.

If you’d like to work within a high performing and collaborative team atmosphere where you can make difference, we’d love to hear from you.

What we are looking for

You to assist with delegated underwriting (DU) on-boarding processes alongside a team of DU Analysts and a Manager (on-boarding team), so that coverholders and binding authorities due diligence and related information are timely, up-to-date, relevant, complete, accurate and consistent.

The Role

  • Understand and support the due diligence process of coverholder on-boarding and binding authority reviews adhering to Munich Re Delegated Underwriting process in the various classes of business underwritten.
  • Using Lloyd's Atlas, Crystal and other processes and systems, assess key due diligence documentation, e.g. CVs, PI/E&O insurers, UK and international trading licences, financial crime and other business procedures, liaising with the DU Analysts and escalating issues for further review.
  • Support the DU Analysts with binding authority reviews, e.g. pre-bind quality assurance (PBQA), liaising with Munich Re stakeholders to ensure processes are undertaken in a timely fashion and feedback is dealt with as required.
  • Maintain accurate DU records, including completing Coverholder and Binding Authorities entries in MRS dedicated tools (Subscribe and MASSDA) and Lloyd's (DCOM) and undertaking quality control of the underwriting teams’ entries on a weekly and monthly basis.
  • Support and assist the DU team with reporting and development initiatives.
  • Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
  • Understand all appropriate lines of escalation and the responsibilities of Conduct governance within MRSL.
  • Support the process and structure that upholds the requirements set out in the Lloyd’s Conduct Risk Minimum Standards and Complaints Principles.
  • You are required to comply with the PRA and FCA conduct rules.

Key Skills & Experience

Knowledge

  • Basic business knowledge and understanding of :
    • Lloyd's delegated underwriting tools, e.g. Atlas, DCOM and future developments
    • Underlying principles of Delegated Underwriting, Lloyd’s market practices and rules specifically relating to DU
  • Demonstrate clear understanding of all company specific procedures that relate to own role
  • Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and operation of the department and wider organisation
  • Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation

Skills

  • Demonstrate high degree of attention to detail and accuracy and use of relevant reporting tools
  • Ability to manage own workload and to work both supportively and jointly with colleagues
  • Ability to work under pressure and flexibly when necessary, prioritising tasks, resource planning and meeting deadlines
  • Use of communication skills, both written and verbal reporting and presentation, that are both effective and meet business needs

Your career with us

At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more

Diversity & Inclusion

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.

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