Green Solutions Underwriter

Munich Re; London; On-site; GBP 40,000 - 80,000; Full time

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 adaptable strategy, 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.

We are currently looking for an Underwriter to be based in London on a full-time basis, reporting into the Head of Renewables.

The key role of the Underwriter is to underwrite for the Renewable Energy Account within the underwriting limits as set out in the underwriting authority sheet and ensure timely account servicing to Brokers and Clients with a primary focus on onshore Solar / Wind / Bess.

Provide 1st level monitoring and oversight for administrative process aspects of the account, at all times demonstrating care for customers and respect for the regulatory obligations and reputation of the Syndicate.

Responsibilities:

• Assess, price, negotiate and underwrite for the Renewable Energy Account. Exercising judgement in all underwriting and remaining aware of own underwriting limits as set out in the Underwriting Authority sheet, all in accordance with the Syndicate Business Plan.
• Conduct and develop effective business relationships with brokers and clients with a view to both securing new business and retaining appropriate renewal business.
• Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals. To refer/liaise (when appropriate) to CUO and relevant internal departments.
• Assist in the monitoring and development of underwriting tools and procedures.
• Provide support to junior members of the team and monitor their quality of work.
• To provide 1st level oversight and support to the administrative function of the Renewable Energy Account as follows:
• S2000 / EDOC data Entry Process (ensure timeliness and accuracy of data entered by UAs and refine process as required).
• Credit Control Process (to coordinate with credit control and follow up with broker).
• CAT monitoring (ensure timeliness and accuracy of data entered by UAs).
• Benchmark Rating Adequacy Process (ensure timeliness and accuracy of data entered by UAs).
• Monitor exception reports and take relevant action plans to escalate to seniors and rectify with relevant underwriter / UAs.
• To ensure Renewable Energy Account conforms with the principles of Contract Certainty.

Knowledge and Skills

• Intermediate (Level 2) knowledge and understanding of:
• Underwriting Principles;
• Legal Principles;
• FCA and Lloyd’s rules and regulations including contract certainty issues;
• All company specific procedures that relate to own role.
• Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and business plans of the Firm.
• Develop and maintain market and risk awareness and willingness to continue to develop knowledge of products, underwriting and related issues through formal and informal learning, both internally and externally.

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.

Benefits:

• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support