Delegated Underwriting Administrator

Munich Re Specialty - Global Markets, Syndicate; Greater London; On-site; GBP 30,000 - 45,000; Full time

Job summary

Munich Re Specialty - Global Markets, Syndicate is seeking a Delegated Underwriting Administrator to support the delivery of Delegated Underwriting processes in London. You will manage workflows for Coverholder on-boarding, maintain accurate records, and liaise with various stakeholders. The ideal candidate will have a university degree, relevant professional qualifications, and strong organizational skills. An inclusive work environment is promoted, welcoming candidates from diverse backgrounds.

Qualifications

• Ability to manage own workload and collaborate with colleagues.
• Demonstrate willingness to develop knowledge through learning.

Responsibilities

• Support DU workflows for Coverholder on-boarding and renewals.
• Maintain accurate DU records using MRS tools.
• Liaise with Underwriting Delivery team for bordereaux management.
• Help implement Lloyd’s and FCA policies in relation to DU.

Skills

Strong organisational skills

Attention to detail

Communication skills

Education

University Degree and/or relevant professional qualification

Tools

Lloyd’s delegated authority tools (Atlas, DCOM)

Job description

Delegated Underwriting Administrator

To support the delivery of timely and effective Delegated Underwriting (DU) processes and workflows by maintaining accurate information in DU systems and liaising with all members of the DU team in relation to coverholder on-boarding, binding authority agreements and audits, with the Underwriting Delivery team regarding bordereaux management.

Responsibilities

• Understand and support DU workflows relating to first Coverholder on-boarding and Binding Authority renewals using MRS and Lloyd’s (Atlas, DCOM) systems;
• Understand MRS DU tools and maintain accurate DU records, including Coverholder and Binding Authority entries using MRS dedicated tools (Subscribe and MASSDA), and undertake quality control of the underwriting teams’ entries on a weekly and monthly basis;
• Support the delivery of the DU audit plan by maintaining data pertaining to audits and recommendations;
• Liaise with the Underwriting Delivery team to support accurate bordereaux records including, also dealing with relevant internal and external stakeholders as such Lloyd’s brokers and MRS Underwriters as required;
• Review Lloyd’s international regulatory trading requirements, e.g. Crystal reviews to support PBQA;
• Support the implementation of Lloyd’s, MRS, FCA and other regulators’ policies and procedures in relation to DU, e.g. review and circulate Lloyd’s Market Bulletins;
• 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 governance within MRS DU team and other stakeholders.
• Any other tasks as required to support MRS DU team

Knowledge and Skills

• University Degree and/or relevant professional qualification

Sound business knowledge and understanding of:

• Lloyd’s delegated authority tools, e.g. Atlas, DCOM and all future developments
• Underlying principles of insurance/reinsurance practice
• Lloyd’s Market practices and regulation, specifically relating to delegated underwriting
• Demonstrate clear understanding of all company specific procedures that relate to own role
• Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and operation of the department and wider organisation
• Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation

Skills

• Demonstrate strong organisational skills
• Demonstrate high degree of attention to detail and accuracy and use of relevant reporting tools
• Ability to manage own workload and to work both supportively and jointly with colleagues
• Ability to work under pressure and flexibly when necessary, prioritising tasks, resource planning and meeting deadlines
• Use of communication skills, both written and verbal reporting and presentation, that are both effective and meet business needs

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

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.