Head of Underwriting Management

AIG Insurance; City Of London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading insurance company in the City of London is seeking a Head of Underwriting Management. This role involves overseeing underwriting processes, managing relationships with external reviewers, and ensuring compliance with Lloyd's standards. The ideal candidate will have extensive underwriting experience and excellent communication skills. This position offers a unique opportunity for career growth in a dynamic environment.

Qualifications

• Wide experience in underwriting processes and compliance.
• Knowledge of Lloyd's operational processes.
• Good grounding in and understanding of Wordings.

Responsibilities

• Ensure underwriting processes are appropriate and effective.
• Oversee syndicate's relationship with external reviewers.
• Manage the delegated underwriting function and compliance.

Skills

Excellent communication skills

Ability to negotiate

Ability to multi-task

Calm under pressure

Education

ACII qualification (useful)

Job description

Join us as our Head of Underwriting Management to grow your career at the forefront of London market insurance. At Talbot and AIG, we are reimagining the way we help customers to manage risk. Join us as our Head of Underwriting Management to play your part in that transformation. It's an opportunity to grow your skills and experience as a valued member of the team. How you will create an impact The Head of Underwriting Management is responsible and accountable for the following key areas: Underwriting Operations

Responsibilities

• Keep all underwriting processes under review ensuring that they are appropriate. To make recommendations for change working with the relevant stakeholders to achieve improvements, reporting on progress as and where necessary;
• Support the Active Underwriter to ensure that brokers' services are evaluated rigorously and reported on;
• Oversee and manage the syndicate's relationship with its external reviewers, ensuring any agreed processes are adhered to by all relevant parties, including that agreed feedback is assimilated by underwriters;
• Keep TUL's compliance with Lloyd's Minimum Underwriting Standards under review, to ensure there are controls in place to facilitate compliance, and that there is monitoring and reporting in place to demonstrate evidence of compliance. Where aspects of sub-optimal performance are identified, to resolve and/or elevate as appropriate; For the avoidance of doubt, this includes:
• Maintaining the syndicate's analysis document showing how it complies with all aspects of the minimum standards, identifying where there are gaps, and escalating as necessary;
• Work with Talbot overseas offices to ensure that each office has its own controls in place to comply with the applicable Lloyd's minimum standards and the responsibilities that each office has as a Lloyd's coverholder. To surface any material issues with the office head and/or the Chief Underwriting Officer as appropriate, thereafter monitor resolution of such issues;
• Assist the offices in understanding the terms of the binding authority and providing guidance to each office in complying with the binding authority and to ensure this process is streamlined and as consistent as possible;
• Delegated Authority – Manage the delegated underwriting management function ensuring that all underwriting disciplines and controls necessary for the underwriting of binding authorities are adhered to. Escalate issues as necessary. Where appropriate, support the underwriters in complying with the Conduct Risk requirements of binding authorities;
• Participate in the administrative sign off process of binding authorities, and where material issues are identified that involve underwriters, raise them with the relevant Head of Division and/or the Active Underwriter /CUO for resolution;
• Product Risk Oversight – Receive reporting in respect of High Product Risk business making sure that this is timely and that it is acted upon. This is a senior role within the Syndicate therefore we require candidate's to have a deep understanding of underwriting and underwriting operations;

Qualifications

• A wide experience in all matters relating to underwriting in terms of process, procedure, compliance and legal would be an advantage;
• Knowledge of Lloyd's operational processes and systems;
• Experience in dealing with the various pressures and issues that arise for Overseas Offices – especially in connection with binders and the binder arrangements used for these offices;
• A good grounding in and understanding of Wordings;
• A good understanding of the distribution chains available to the syndicate, with specific emphasis on understanding the dynamics around Lloyd's brokers and the landscape that applies;
• No specific qualifications required, although ACII is useful;
• Able to multi-task;
• Excellent communication skills;
• Ability to stay calm in pressured situations;
• Ability to negotiate and to align different and potentially conflicting work streams;
• Ability to influence especially given the multi-relationship alignments needed between Underwriting and all other areas of the company;
• Confidence to take decisions;

Ready to take your career to the next level? We would love to hear from you.