Lma - Technical Executive - Underwriting - Wordings

3 weeks ago

London, United Kingdom eFinancialCareers Full time

The purpose of this role is to be responsible for representing and promoting the interests of the LMA Members and other key stakeholders across the underwriting team's key activities and other business areas as required, focussed on wordings and clause productionand review, which is a key function of the Underwriting team within the LMA.

The LMA provides technical and professional support to a £36bn premium market. As the representative voice of our members, the Lloyd's managing and members agent community, our overall purpose is to enable the success of our members and the Lloyd's market.All Lloyd's managing agents are currently Full Members of the LMA. The LMA has significant responsibility to identify and, if possible, resolve the major issues of interest to its Members. The LMA works closely with the Corporation of Lloyd's and its Boardto help achieve the best solutions and practices across the Lloyd's market.

**Key Accountabilities**:
To provide effective technical support to the LMA committees/business panels/working groups (which will include attendance at some of the underwriting committees), focussing on the drafting and review of LMA model wordings and providing guidance, identifyingand promoting solutions and ensuring effective execution of actions.
- To provide effective support to the LMA Wordings Committee & Wordings Forum:

- Providing technical support re the drafting and review of LMA model wordings
- Arranging/administering meetings of the Wordings Committee and associated Working Parties;
- Responding to technical enquiries from Members (and others) in a timely and appropriate manner;
- Liaison with both LMA and Lloyd's Regulatory and Legal teams in relation to ongoing projects impacting on underwriting and/or requiring wordings input;
- Undertaking specific Market and/or internal LMA projects and research work as required
- Providing technical support for the Lloyd's Wordings Repository, including the wordings held on the LWR;
- Represent the LMA at meetings and on external groups in such a way as to promote the policies and reputation of the LMA and in the interests of its Members.
- Listen to and demonstrate understanding of our Members views, building on this to identify solutions, influence outcomes and develop consensus.
- Maintain current knowledge of initiatives and developments within the LMA, Corporation of Lloyd's and other key areas of the Market. Seek opportunities to support and promote projects internally and externally to the advantage of the LMA Membership.
- Take the initiative in networking with the LMA Membership, Lloyd's Corporation and other relevant bodies in order to raise your own and the LMA's profile with peers, senior market practitioners and stakeholders.
- Communicate confidently and effectively to LMA Members, and other key stakeholders, giving guidance on initiatives and developments and ensuring that the LMA's reputation for expertise and as a recognised partner in the Wordings arena is reinforced.
- Assist with the promotion of the LMA, its brand, and the key wordings activities that it is leading or supporting, identifying PR opportunities (providing input into newsletters, press releases, board reports and the LMA website) and present to colleagues,members and 3rd parties
- Finally, and in addition to the above key accountabilities, you may be required to undertake other duties from time to time as the LMA may reasonably require.

Significant experience of drafting wordings ideally within the Lloyd's market across a variety of lines of business.

Good understanding of the MRC format and structure.

Understanding of Contract Law and how it relates to Insurance contracts and knowledge of UK regulation within the insurance industry.

Wide experience and knowledge of international regulations and how they impact insurance contracts and Significant understanding of London market processes related to the "downstream" processing of MRC contracts.

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