Underwriting Manager

Job Title: Underwriting Manager

Entity: Rokstone

Department: Underwriting Management

Reports to: Head of Underwriting Management

Location: London/Hybrid (3 days a week)

Who We Are

Rokstone, part of the Aventum Group, is an established international underwriting MGA and approved Lloyd’s of London coverholder, where we also hold a Lloyd’s Box. With innovation at our core, we go beyond the ordinary to offer brokers specialised (re)insurance solutions. Within Rokstone, we house specialist MGAs such as Novus, iSure and iFarm, each contributing to our commitment to redefining industry standards.

At the heart of Aventum are our people. Our employees collaborate in dynamic, service-focused teams. Together, we strive daily to achieve our goals and objectives with a shared dedication to revolutionising the insurance industry for the better.

The Company offers a competitive benefits package via a flexible benefits platform. In addition to core benefits, employees can tailor their benefits according to their individual needs.

Employee development is key to the ongoing development of Aventum on the whole. We invest in our people, empowering them to grow their careers and advance within the Group. Our dynamic culture is rooted in the continuous desire of our people to learn and challenge themselves.

Role Summary

The Underwriting Manager is responsible for supporting the underwriting teams of a London-based specialty Managing General Agent (MGA) in resolving operational and administrative issues, facilitating effective underwriting controls, and ensuring compliance with internal governance frameworks. This role is integral to optimizing underwriting performance and ensuring alignment with the MGA’s strategic goals. The role will also involve collaborating closely with the Head of Underwriting Management on a wide range of initiatives related to underwriting governance, audits, and process improvements.

This role is ideal for a seasoned underwriting professional with a strong focus on governance, operational efficiency, and the application of underwriting controls within a dynamic and fast-paced MGA environment. The Underwriting Manager will play a critical role in driving underwriting excellence and supporting the strategic objectives of the company.

Role Accountabilities

Operational and Administrative Support

• Collaborate with other departments (e.g., Claims, Actuarial, Finance) 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 (e.g., Lloyd’s, PRA, FCA).
• 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.

Role Requirements

• Professional Experience: 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.
• Technical Expertise: Strong understanding of underwriting principles, underwriting process, and the use of data analytics in underwriting. Experience in auditing or file reviews is a plus.
• Communication Skills: Excellent verbal and written communication skills, with the ability to effectively interact with underwriting teams, senior management, and external stakeholders.
• Problem-Solving: Ability to identify issues and work collaboratively to develop and implement solutions that improve efficiency and compliance.
• Leadership: Strong leadership skills, with the ability to guide, mentor, and develop junior team members.
• Project Management: Experience in managing or participating in cross-functional projects aimed at improving operational processes or underwriting performance.
• Attention to Detail: High level of accuracy and attention to detail, particularly in the context of audits, reviews, and reporting.

Skills and Abilities

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

Management Duties

• Yes

We are an equal-opportunity employer, and we are proud to share that 93% of our employees say they can be themselves at work. We aim to hire our industry's finest people because the best people drive the best outcomes. And we forever challenge the status quo because we know there are always ways to improve things. Because together, we're limitless.

We value applicants from all backgrounds and foster a culture of inclusivity. We understand the need for flexibility, so work in a hybrid model. Please let us know if you require any reasonable adjustments during the recruitment process.

FCA Conduct Rules

Under the Senior Managers and Certification Regime the FCA and Aventum expects that:

• You must act with integrity.
• You must act with due skill, care and diligence.
• You must be open and cooperative with the FCA, the PRA and other regulators.
• You must pay due regard to the interests of customers and treat them fairly.
• You must observe proper standards of market conduct.
• You must act to deliver good outcomes for retail customers.