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.
Underwriting Assistant, Political Risk & Credit
We are looking to employ an Underwriting Assistant 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
To support the Property Underwriting Team, by providing an accurate and high quality administrative service, demonstrating care for customers and respect for the regulatory obligation of the firm as a financial insurance entity.
What we are looking for
Someone who wants to be responsible for the following:
Entering data into the in-house S2000 underwriting system;-
Uploading and maintaining accurate and up-to-date information in the aggregate spreadsheets, admin checklists, peer review system and pricing model;
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Assisting Underwriters with policy administration, scanning and photocopying of documents as required;
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Assisting the Credit Analyst and Underwriters to run relevant reports as and when required;
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Reviewing and managing exception reports on a weekly basis;
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Chasing Broker premiums when requested;
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Transferring underwriting information from documents of all kinds into S2000;
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Ensuring that company procedures and systems are followed and maintained, as per procedures and compliance manuals;
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Reviewing and posting daily premium closing messages in S2000;
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Taking minutes of meetings and any other administrative tasks as and when required;
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Attending Political Risk & Credit Underwriting meetings internally and externally with brokers and clients as and when necessary;
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Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
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Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC) , ExCo and Board for Conduct Risk.
Key Skills & Experience
(Prior knowledge is not essential but will place candidates at an advantage)
Basic (Level 1) knowledge and understanding of:
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Underlying Principles of Insurance;
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Legal Principles;
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FCA and rules and regulations, including contract certainty issues;
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Lloyds regulations;
As well as:
Demonstrate clear understanding of all company specific procedures that relate to own role;-
Demonstrate growing understanding of the roles of colleagues and their relationships to the structure and business plans of the firm;
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Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
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Be aware 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.
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Be an efficient user of the MS Office package.
Qualifications
Educated at degree level is seen as advantageous but not essential.
Your career with us
At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!
Diversity & Inclusion
Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.
Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.
Push Boundaries. With us. | Munich Re