Wordings Manager
1 day ago
An exciting opportunity for an experienced Contract Wordings professional to lead the negotiation and agreement of policy wordings and reinsurance contracts across multiple lines of business. This role encompasses oversight of syndicate-led wordings for Property, Delegated Property, Specie, Contingency, PV, Construction, Marine Cargo, and CPRI accounts. Working closely with Underwriting teams, Clients, and Brokers, this position plays a pivotal role in ensuring contract certainty and maintaining compliance with regulatory and market standards.
Key Responsibilities:
- Lead the negotiation of direct and reinsurance contract wordings and associated clauses across all actively written classes of business.
- Collaborate closely with Underwriters, Clients, and Brokers to ensure optimal wording agreements.
- Maintain accurate records of all negotiations and final agreements using internal systems.
- Advise Underwriters on risk management processes, highlighting the effectiveness of agreed wordings.
- Oversee and ensure compliance with Contract Certainty standards, using tools such as the LCC system.
- Keep up to date with market-standard forms and territorial regulations to ensure appropriate coverage.
- Conduct peer reviews of wordings and clauses to maintain high-quality standards.
- Evaluate the financial impact of unsuitable contract wordings and report findings to senior leadership.
- Manage and mentor the Contract Wordings Technician, providing training and guidance where necessary.
- Represent the organisation on LMA Wordings Committees, if applicable.
- Deliver training to Underwriting and Claims teams on contract wordings best practices.
Skills and Knowledge Required:
- Technical Expertise: Thorough knowledge of standard and bespoke wordings, clauses, and endorsements in Property D&F, Property Binders, Specie, Contingency, CPRI, PV, CAR, Marine Cargo, and Treaty Reinsurance.
- Market Knowledge: Strong understanding of Lloyd’s wordings procedures, international standard forms (e.g., ISO), and current market conditions affecting coverages.
- Regulatory Compliance: Familiarity with FCA rules, Lloyd’s requirements, and other applicable regulations, including data protection and anti-money laundering protocols.
- Risk Management: Ability to evaluate and mitigate risks through effective wordings agreements.
- Data Quality: Commitment to maintaining accurate and consistent data in line with company policies.
General Skills:
- Strong planning, organisational, and prioritisation skills.
- Excellent communication and interpersonal abilities for negotiation and relationship management.
- Analytical and problem-solving skills with the ability to make informed decisions.
- High attention to detail and accuracy in record-keeping and data management.
IT Skills:
- Proficiency in Microsoft Word, Excel, and Outlook.
- Experience with in-house systems such as Skyline, Cascade, and Document Repository tools.
- Familiarity with specific tools like LCC, Lloyd’s QAT, and Lloyd’s Crystal.
What We Offer:
- A dynamic role in a leading organisation with the opportunity to work across diverse classes of business.
- An environment that values professional development and career progression.
- Exposure to high-profile negotiations and market-leading practices.
How to Apply:
If you have the skills and expertise to excel in this role, we’d love to hear from you. Please submit your CV and a cover letter outlining your suitability for the position.
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