Assistant Underwriter, Green Solutions

5 months ago

London, United Kingdom Munich Re Specialty Group Full time

Assistant Underwriter, Green Solutions

**Company**
Munich Re Specialty Group
**Location**
London, United Kingdom

At Munich Re Specialty - Global Markets, individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. 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”.

About us

Munich Re Specialty - Global Markets 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.

Assistant Underwriter, Green Solutions

We are looking to employ a Assistant Underwriter to be based in our London office and to work with us on a Full Time basis.

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

What we are looking for

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. To provide accurate and high quality administrative services to the Green Solutions underwriting team, demonstrating care for customers and respect for the regulatory obligations of the Syndicate.

The Role

Support underwriters as required in:

- To assist delivering the agreed business plan
- Underwrite and service Green Solutions 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;
- Make written records of all material conversations with customers, both internal and external, in accordance with the firm’s procedures manual.
- Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
- Monitor recording of risk entry and amend where appropriate;
- Review daily claims report;
- Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Account;
- Provide Analytical Support as follows:

- S2000 - risk entry, report production using MS Excel; Use of S2000 and Qlikview reporting.
- Supervise and assist Underwriting Assistants in monitoring of income flows (late premiums/adjustments etc);
- Provide management reports as and when required.
- Benchmark pricing and rate monitoring for all accounts.
- Carry out aggregation data entry onto the ‘Exact’ system and work closely with the exposure management team in conjunction with the underwriting team in accordance with the Syndicates aggregation requitements
- Assist Underwriting Assistants as may be required in order to support the business.
- Any other ad-hoc tasks as necessary
- 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.
- 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.
- You are required to comply with the PRA and FCA conduct rules.

Knowledge and Skills
- Knowledge and understanding of:

- Underlying Principles of Insurance;
- Legal Principles;
- FCA and rules and regulations, including contract certainty issues;
- Lloyd’s regulations;
- Green Solutions Insurance as traded in the Lloyd’s market
- Demonstrate clear understanding of all company specific procedures that relate to own role;
- Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
- Dev

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