Credit Risk Analyst

Chubb; London; On-site; GBP 40,000 - 55,000; Full time

Job summary

Chubb is seeking a dedicated Credit Risk Analyst to strengthen their Credit Management team. This role involves conducting financial evaluations, managing broker approvals, and overseeing collateral management. With a focus on safeguarding Chubb's balance sheet, the analyst will play a pivotal role in mitigating credit risks across various sectors.

Qualifications

• A minimum of 3 years of relevant industry experience.
• Experience in credit risk management, particularly in relation to brokers.
• Familiarity with multiple lines of insurance is an advantage.

Responsibilities

• Participate in the broker approval process and manage the new broker pipeline.
• Conduct financial reviews and assess outstanding debts of brokers.
• Collaborate with stakeholders to manage coverage of Chubb-approved brokers.

Skills

Credit risk management

Analytical skills

Attention to detail

Market monitoring

Education

University degree

Job description

Job Description

At Chubb, we understand that credit risks are an integral part of our business landscape. Our Credit Management team plays a crucial role in assessing, understanding, and mitigating these risks across various sectors. We are looking for a dedicated and detail-oriented Credit Risk Analyst to support our Credit Risk Manager in navigating the complexities of credit counterparties, including brokers, agents, captive reinsurers, insureds, non-affiliates, and banks.

Why This Role Matters:

As a Credit Risk Analyst, you will be at the forefront of our efforts to safeguard Chubb's balance sheet. Your analytical skills and attention to detail will be essential in conducting financial reviews and identifying potential risks. This is an exciting opportunity to work in a dynamic environment where your insights will directly influence our risk management strategies.

Key Responsibilities:

• Broker Approval Process: Actively participate in the UK & Ireland broker approval process, managing the new broker pipeline, coordinating with internal stakeholders, preparing committee submissions, and ensuring all legal documentation is completed accurately.
• Financial Reviews: Conduct ad hoc reviews of broker financial standings, assess outstanding debts, and respond to any changes in regulatory status, ensuring appropriate remediation efforts are in place.
• Coverage Management: Collaborate with stakeholders to ensure accurate coverage of Chubb-approved brokers in our system of record. Handle internal and external inquiries regarding coverage and maintain the Broker Protocols internal web pages with timely updates.
• Partner Insurance Analysis: Oversee and analyze Chubb's network of partner insurance companies, working closely with the network team to manage credit risks on a case-by-case basis.
• MGA/Coverholder Reviews: Undertake financial reviews of Managing General Agents (MGAs) and Coverholders, ensuring all necessary sign-offs are obtained.
• Bank Exception Reporting: Maintain bank exception reporting for all Chubb subsidiaries and branches outside of the Americas, conducting financial reviews as needed and seeking appropriate approvals.
• Credit Risk Assessment: As you grow in this role, you will expand your responsibilities to assess credit risk from defaults of credit counterparties on captive and reimbursement programs. This includes coordinating exception requests that fall outside of credit guidelines and advising senior management on potential risks.
• Collateral Management: Oversee treasury activities related to Letter of Credit collateral management, gaining a detailed understanding of various collateral forms and their maintenance.
• Global Collaboration: Work closely with Credit Management teams in the US and other Chubb international staff to ensure consistent global guidelines and keep underwriters informed about business conducted for common clients across different territories.
• Market Monitoring: Stay informed about market developments and financial trends. Proactively identify and mitigate risks that may arise in Chubb's ever-evolving global market landscape.

Qualifications

Knowledge & Experience:

• A university degree is preferred.
• A minimum of 3 years of relevant industry experience.
• Experience in credit risk management, particularly in relation to brokers, is highly desirable.
• Familiarity with multiple lines of insurance will be an advantage.