Senior Credit Risk Underwriter

2 weeks ago


London, United Kingdom Munich Re Full time

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.
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. Senior US Casualty Underwriter
The prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.
Underwrite liability risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan;
Conduct and develop effective relationships within Lloyd’s, both with peers and with Brokers, with a view to securing new business that falls within the Munich Re Syndicate Ltd portfolio, specifically liability risks.
S2000 – risk entry report production using MS Excel; Supervise the underwriting assistant in monitoring of income flows (late premiums/adjustments etc);
Monitor recording of risk entry and amend where appropriate;
Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Liability Account;
Review daily claims report;
Be aware of and take ownership of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner. In this context risk is the potential for loss or failure to meet business objectives as a consequence of internal or external events.
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 the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.
Legal Principles;
PRA and Lloyd’s rules and regulations including contract certainty issues;
Marine Property
War and political risks
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.



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