Underwriting Assistant

Munich Re Group; Madrid; On-site; EUR 26,000 - 38,000; Full time

Job summary

Munich Re Group seeks an Underwriting Assistant to be based in Madrid, Spain. You will provide accurate, timely non-regulated services to Underwriting Teams across MRRSI and European branches, contributing to client service and policy administration.

You will enter data, support contract certainty, issue policies and invoices, and help manage credit control. A strong grasp of insurance principles and procedures is essential, with room to grow within a collaborative, governance-aware environment.

Qualifications

• University Degree and/or relevant professional qualification.
• Prior experience working in an insurance company.
• Good knowledge and understanding of: Underlying Principles of Insurance; Legal Principles; Rules and regulations, including contract certainty issues.
• Demonstrate clear understanding of all company specific procedures that relate to own role.
• Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm.
• 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.

Responsibilities

• Enter data into the in-house underwriting system and pricing tools.
• Support the Contract Certainty (CC) process, including CC checklists.
• Issue policies, certificates of coverage, endorsements, and invoices as required.
• Assist in managing credit control and aged debt.
• Maintain renewal lists.
• Ensure procedures and systems are followed per SOPs and compliance manuals.
• Help drive good Conduct for customers and policyholders outcomes.
• Understand escalation lines and responsibilities of relevant governance bodies for Conduct Risk.
• Understand responsibilities of related governance groups for Conduct Risk.

Skills

University degree

Insurance industry experience

Regulatory knowledge

Contract certainty awareness

Procedural understanding

Risk awareness

Education

University Degree

Job description

About Us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptablestrategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Please see our website for more information.

Underwriting Assistant

We are currently looking for a Underwriting Assistant to be based in Madrid (Spain) on a full-time basis, reporting into the Head of Operations Europe.

To provide accurate, timely and high-quality non-regulated services to Underwriting Teams across MRRSI and its European branches, demonstrating care for customers and respect for the obligations of the Company.

Responsibilities

• Entering data into the in-house underwriting system, pricing tools and other administration systems as required.
• Support the Contract Certainty (CC) process, including completing the CC checklist, when requested.
• Issue policies and certificates of coverage (including endorsements) as well as invoices as required
• Assist in managing credit control and aged debt.
• Maintaining renewal lists.
• Ensure that company procedures and systems are followed and maintained, as per standard operating procedures and compliance manuals.
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Oversight Group (POG), ExCo and Board, and any other applicable governing body for Conduct Risk.
• 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.

Knowledge and Skills

• University Degree and/or relevant professional qualification
• Prior experience working in an insurance company
• Good knowledge and understanding of: Underlying Principles of Insurance; Legal Principles; Rules and regulations, including contract certainty issues
• Demonstrate clear understanding of all company specific procedures that relate to own role
• Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
• 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.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Learn more about sustainability at Munich Re – choose your impact!

#BePresent #BeBold #BeCurious