Chief Underwriting Officer AUM

4 weeks ago

London, UK, United Kingdom Aon Full time

Chief Underwriting Officer – AUM

Lead the underwriting strategy for AUM which is one of the largest organically grown MGA businesses in London. To be responsible for the execution and innovation and development of Aon’s global flagship facility: Aon Client Treaty (ACT). To deliver outstanding carrier and broker relationships and client retention and to support the growth AON’s Commercial Risk business through the use of delegated authorities. Champion the benefits of the MGA model across Aon and build on AUM’s reputation as a leader in product development and innovation alongside our broking leadership.

AUM is a well-established, vibrant and successful in-house MGA business with a focus on underwriting a broad range of fully delegated, tracker and follow-form facilities for Aon commercial clients worldwide. AUM’s primary distribution channels are Aon’s wholesale and global retail broking networks with options to use third party networks and white-label branding where appropriate to do so. Operating within the UK regulated environment, AUM partners with Lloyd’s and Company Market capital providers with the aim of underwriting sustainably profitable portfolios for carrier partners whilst delivering best in class solutions forclients and brokers.

Aon is in the business of better decisions

At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.

As an organization, we are united through trust as one inclusive, diverse team, and we are passionate about helping our colleagues and clients succeed.

The FCA's Senior Managers & Certification Regime (SM&CR) applies to Aon from December 2019 and this role is subject to the relevant requirements of the Regime.

The primary aim of SM&CR is to drive individual accountability for all roles within the Financial Services Sector.

Aon must ensure those in senior roles, with the potential to cause significant harm to customers and the business of the firm, are deemed to be fit and proper at all times

and also to ensure everyone working in the sector adheres to a set of Conduct Rules and are held to account where they do not meet the right standards of behaviour.

What the day will look like

As a member of the AUM Executive Leadership team there are responsibilities across the business to ensure the best outcomes for our partners. Carrier management, broker engagement, product design, case review, supporting colleague development; this is a senior management role with broad influence. The commercial focus of the role is as the leader for ACT underwriting as part of the ACT management team. The role is directly supported by an underwriting team, governance and performance management leaders and exposure management and actuarial capabilities. The opportunity to drive further innovation and growth through this programme and the wider AUM business is significant.

  • Give strategic input into growth planning (market trends)
  • Monitor portfolio performance, identify emerging risks, and recommend necessary adjustments
  • Collaborate with UK, EMEA and Global Commercial Risk leaders to develop ACT and other facilities
  • A key partner in driving through our digital and algorithmic underwriting ambition
  • Capability building responsibility including exposure management,insights and analytics
  • Collaborates with internal teams and third-party partners (e.g., carriers) to ensure clients receive solutions that meet their needs

People Leadership

  • Model teamwork, collaboration, integrity and respect to deliver the best of our firm to our clients
  • An inclusive and experienced commercial leader with an emphasis on providing an outstanding colleague experience
  • Retain, develop, and attract dedicated individuals in line with business plans
  • Develop and support team members in the achievement of their objectives through coaching and mentoring
  • Foster an environment in which all employees are valued and heard

Governance and Compliance

  • Lead by example by ensuring own activity aligns with regulatory requirements and business procedures
  • Oversee the underwriting process
  • Effectively lead AUM underwriting practices in line with carrier partner expectations, relevant legal and regulatory requirements and Aon policies, values and behaviours
  • Encourage colleagues to be active in addressing governance and compliance development areas

Skills and experience that will lead to success

  • 10+ years underwriting in short or long tail business, understanding of insurance products
  • Portfolio management experience, with North American large and CAT exposed property and casualty experience preferred
  • In-depth knowledge of Lloyd's market dynamics, regulatory environment, and industry trends
  • Experience in exposure management and aggregate controls
  • Experience in the operation of delegated authorities
  • A change agent with a desire to modernise
  • Strong social and communications skills to lead a complex stakeholder network
  • Build and lead inclusive and diverse teams.
  • Motivate and inspire others, creating an environment for continuous learning and connection
  • Strong governance and regulatory acumen

How we support our colleagues

In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two “Global Wellbeing Days” each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions, but we also recognise that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working

Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you

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