Assistant Underwriter, Terrorism

2 months ago

London, United Kingdom Munich Re Specialty Group Full time

**Assistant Underwriter, Terrorism & PV **(M/F/d) ****:
Assistant Underwriter, Terrorism & Political Violence

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

At Munich Re Specialty Group (MRSG), 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**

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 Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & 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, Terrorism & Political Violence**

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

If you’d like to work within an energetic, fun and collaborative team atmosphere where you can make difference, we’d love to hear from you.

**The Role**

The prudent underwriting of quality business 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.

**What we are looking for**

Someone who can be accountable for the following:

- Underwrite Terrorism & Political Violence risks, exercising judgement in all underwriting matters, with due consideration for own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with the syndicate’s business plan;
- Conduct and develop effective relationships within Lloyd’s, both with peers and with brokers, with a view to securing new and renewal business that falls within the syndicate’s portfolio, specifically Terrorism & Political Violence risks;
- _ Provide analytical support as follows:_
- S2000 - risk entry report production using MS Excel; use of S2000 Ad-hoc reporting feature;
- Provide management reports as and when required.
- RMS - data entry to monitor aggregate exposures.
- Review slips and/or other information/literature, exercising own judgement, based on knowledge and experience, acting within own limits of authority and referring to the Group Head of Terrorism and Political Violence when appropriate;
- Ensure that firm’s procedures and systems are followed and maintained, as per procedures and compliance manuals and instructions;
- Review and administer existing contracts and make amendments in line with the syndicate’s underwriting philosophy;
- Shadow the Political Violence Underwriters for client/broker meetings, taking minutes when required.
- Monitor recording of risk entry and amend where appropriate;
- Formulate accurate benchmarking data for each risk to be uploaded into IPF3, with relevant notes and underwriting rationale;
- Weekly review and management of PV exception reports
- Input data into the in-house S2000 underwriting system
- Undertake premium chasing with Brokers when requested
- Transfer underwriting information from documents of all kinds into S2000
- Review and post daily premium closing messages in S2000;
- Review daily claims report;
- Attend the Bi-weekly Political Violence Underwriting meeting;
- Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Terrorism & Political Violence account
- 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 PCRSG, UCSC, ExCo and Board for Conduct Risk.
- Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UC

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