Underwriting Manager

4 weeks ago

London, Greater London, United Kingdom Rokstone Underwriting Full time
Underwriting Manager Job Description

We are seeking an experienced Underwriting Manager to join our team at Rokstone Underwriting. As a key member of our underwriting function, you will play a critical role in ensuring the effective management of our underwriting operations.

Key Responsibilities
  • Operational and Administrative Support
    • Collaborate with other departments to streamline communication and workflows, ensuring efficient underwriting processes.
    • Facilitate the resolution of system issues, data discrepancies, and other administrative problems that could impact underwriting activities.
    • Ensure underwriting platforms, systems, and tools are fully optimized, suggesting improvements to enhance efficiency.
    • Assist in the preparation and coordination of reports, documents, and presentations for senior management and external stakeholders.
  • Underwriting Controls and Governance
    • Assist in the implementation and monitoring of underwriting controls, policies, and procedures to ensure compliance with internal and external regulatory requirements.
    • Support the underwriting teams in adhering to the company's risk appetite, underwriting guidelines, and pricing models.
    • Conduct regular reviews and audits of underwriting files to ensure proper documentation, adherence to limits, and the application of appropriate terms and conditions.
    • Work with the Compliance and Risk departments to ensure underwriting practices meet all relevant legal and regulatory standards.
    • Identify potential areas of underwriting risk and propose solutions or control measures to mitigate these risks.
  • Underwriting Audits and Reviews
    • Assist in coordinating and preparing for both internal and external underwriting audits.
    • Conduct internal file reviews to ensure consistency and compliance with underwriting standards, policies, and procedures.
    • Analyze audit findings and help develop and implement corrective actions to address any identified weaknesses or non-compliance.
    • Support the delivery of regular internal audits and reviews, providing feedback to underwriters and senior management.
  • Portfolio Monitoring and Reporting
    • Work with the underwriting teams to monitor the performance of the portfolio, identifying trends and emerging risks that could impact profitability.
    • Assist the Head of Underwriting Management in the preparation of monthly and quarterly reports on underwriting performance for senior management and external stakeholders.
    • Ensure accurate and timely reporting on key performance indicators (KPIs), underwriting quality, loss ratios, and other relevant metrics.
  • Strategic Support and Process Improvement
    • Contribute to the development and execution of underwriting strategies to align with the company's business objectives and risk appetite.
    • Identify opportunities to enhance underwriting processes and practices, working with cross-functional teams to implement improvements.
    • Participate in projects aimed at improving operational efficiency, such as system enhancements, process re-engineering, and data quality initiatives.
    • Collaborate with IT and data teams to ensure the underwriting function benefits from technological advancements and data analytics.
  • Leadership and Team Collaboration
    • Provide leadership and guidance to junior underwriting staff, fostering a collaborative and performance-driven culture.
    • Assist in developing training programs and materials for the underwriting teams to ensure continuous professional development and technical proficiency.
    • Act as a liaison between the underwriting teams and senior management, facilitating clear communication and ensuring alignment on key business objectives.
  • Market Engagement and Relationship Management
    • Build and maintain strong relationships with brokers, reinsurers, and other market participants to ensure smooth business operations.
    • Represent the MGA at industry events, meetings, and forums to stay informed of market developments and to enhance the company's market profile.
Requirements
  • Minimum 4 years of insurance underwriting, auditing, or operational experience, preferably within the London insurance market (Lloyd's or specialty lines), with exposure to operational, governance, and compliance aspects.
  • Strong understanding of underwriting principles, underwriting process, and the use of data analytics in underwriting. Experience in auditing or file reviews is a plus.
  • Excellent verbal and written communication skills, with the ability to effectively interact with underwriting teams, senior management, and external stakeholders.
  • Ability to identify issues and work collaboratively to develop and implement solutions that improve efficiency and compliance.
  • Strong leadership skills, with the ability to guide, mentor, and develop junior team members.
  • Experience in managing or participating in cross-functional projects aimed at improving operational processes or underwriting performance.
  • High level of accuracy and attention to detail, particularly in the context of audits, reviews, and reporting.

Skills and Abilities

  • ACII or equivalent insurance qualification preferred.
  • Ability to use data to provide insights and support decision-making processes within the underwriting team.

Management Duties

  • Yes

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