Delegated Underwriting Bordereaux

2 weeks ago


London, United Kingdom Munich Re Full time

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.

We are looking to employ a Delegated Underwriting Bordereaux & Data Manager 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 driven and collaborative team atmosphere where you can make difference, we’d love to hear from you.

What we are looking for

You to manage a small team of Bordereaux & Data Analysts and Assistants (bordereaux team) overseeing the delivery of bordereaux processes for delegated underwriting, providing timely and standardised data to internal and external stakeholders, and ensuring that bordereaux data and management information are timely, up-to-date, relevant, complete, accurate and consistent.

The Role

  • Oversee adherence to Munich delegated underwriting bordereaux process in the various classes of business underwritten utilising relevant internal and market tools, namely DDM/Tide and Lloyd's v5.2 Minimum Reporting Standards.
  • Manage on-going workload of the bordereaux team and progress towards complete and up-to-date DDM contract profiles, questionnaires, mapping and peer review processes in line with Munich Re, Lloyd's and Lloyd's Europe requirements.
  • Assess timeliness and quality of mapped data using Munich Re reporting tools, e.g. Qlikview and PowerPI, and develop new data control processes as necessary, e.g. bordereaux reviews to assess suitability against Lloyd's v5.2 Minimum Reporting Standards.
  • Oversee feedback to Lloyd's brokers, coverholders and Munich Re stakeholders on accuracy and timeliness of data provided, including escalation and reporting of data queries and breaches against relevant underwriting controls.
  • Provide bordereaux and data training to the bordereaux team and assist with the on-boarding of new team members as necessary.
  • Be responsible for standard and ad-hoc reports to internal and external stakeholders including in areas such as Solvency II, Conduct Risk, Lloyd's Europe, FCA (e.g. eligible complainants, RMAR, etc.).
  • Assist the Group Head of Delegated Underwriting with delegated underwriting data initiatives and with the enhancement or development of future reports/dashboards.
  • Ensure that relevant procedures and systems relating to delegated underwriting and bordereaux management are maintained and updated in accordance with Lloyd's, Munich Re and Group requirements.
  • 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 Munich Re
  • 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

  • Advanced business knowledge and understanding of :
    • Bordereaux analysis and management, e.g. DDM/Tide and other bordereaux management applications, e.g. VIPR Intrali, BORDEREAUX
    • Sound knowledge of risk and premium reporting and credit control for delegated underwriting
    • Lloyd's delegated authority tools, e.g. Atlas, DCOM, IMR, Blueprint 2
    • Report production, analysis and presentation utilising reporting tools, QlikView, PowerBI
    • Underlying principles of insurance/reinsurance practice
    • Lloyd’s Market practices and regulation, specifically relating to delegated underwriting
  • 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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