Loss Fund Analyst

Markel; Greater London; Hybrid; GBP 80,000 - 100,000; Full time

Job summary

A global specialty insurance firm in Greater London is seeking a Loss Fund Analyst to oversee loss fund processes within the Governance & Delegated team. The successful candidate will ensure adherence to regulatory requirements, manage reconciliations, and support claims teams. Ideal applicants will have experience in loss funds, strong Excel skills, and an understanding of relevant platforms. The role offers a competitive salary, annual bonus, and a comprehensive benefits package, with opportunities for career development.

Benefits

Annual bonus

25 days paid holiday

Private medical and dental cover

Pension scheme

Qualifications

• Experience in loss fund processes and procedures.
• Ability to prepare and interpret data meaningfully.
• Proficient with MS Office and Excel.

Responsibilities

• Oversee the end-to-end loss fund process.
• Ensure adherence to Lloyd's regulatory requirements.
• Manage loss fund reconciliations with partners.
• Deliver a control framework for loss fund management.
• Produce regular reporting for process improvement.

Skills

Understanding of loss fund processes

Communication skills

Data interpretation

Proficient in MS Office

Strong Excel skills

Education

Minimum of GCSE or equivalent

Tools

Power BI

Vitesse Loss Fund Management Platform

Eclipse

Job description

Looking for a role that will have a meaningful impact in Operations? We are looking for an individual to work within the Governance & Delegated team with responsibility for overseeing the end-to-end loss fund process.

What part will you play? If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers. We’re always pushing each other to go further because we believe that when we realize our potential, we can help others reach theirs.

Join us and play your part in something special!

Opportunity

The Wholesale division is comprised of six underwriting teams (Cyber, Energy, Equine & Livestock, Marine, Professional & Financial Risks, and Trade Credit, Political Risk & Surety), as well as an award winning claims team, underwriting support, delegated underwriting, and strategic business development. We have staff around the world with a significant presence in Asia and the US, in addition to the London market. Our teams operate as “One Wholesale”, working together towards our goal to be one of the world’s great speciality insurers. We work collaboratively both within Wholesale and across the wider Markel organisation, and because we work as one we are able to create the best solutions possible for our clients, and provide exceptional development opportunities for our staff.

The Governance & Delegated Underwriting team provide a central service for the administrative support and oversight to underwriters and claims teams through the Underwriting due-diligence process, bordereaux administration and technical processing, credit control, coverholder audits and management reporting to senior management. In addition, the team work with external contacts including brokers, coverholders and regulators.

A Loss Fund Analyst is required to work within the Governance & Delegated team with responsibility for managing and administering the entire delegated underwriting process. The successful candidate would be expected to achieve individual and team targets and fully contribute to the overall success of the department.

What you’ll be doing

• Overseeing the end-to-end loss fund process (traditional cash loss funds, Vitesse accounts and FCP)
• Ensuring adherence to both Lloyd’s and any other regulatory requirements
• Manage the loss fund reconciliations with our delegated partners
• Deliver a robust control and process framework for loss fund management
• Key contact for loss fund management for our delegated partners and Vitesse
• Loss fund referral point for internal stakeholders
• Monitor the adherence to internal standards and ensure regulatory compliance
• Collaborate with the claims team to resolve issues raised by our delegated partners or discrepancies arising from loss fund reconciliations.
• Produce regular reporting to provide oversight and drive process improvement
• Support the further adoption of Faster Claims Payments (FCP)
• Provide training and support to internal stakeholders on best practices

Our must-haves

• Must have understanding of and experience in loss fund processes and procedures
• Ability to prepare and interpret data meaningfully
• Proficient with MS Office with a good understanding of Excel
• Power BI is advantageous
• Will be educated to a minimum of GCSE or equivalent
• Will have experience of delegated operational performance
• Possess strong communication skills
• Possess an understanding of the Lloyd’s v5.2 bordereaux minimum standards
• Knowledge of Vitesse Loss Fund Management Platform is an advantage
• Familiarity with Faster Claims Payments (FCP) is an advantage
• Knowledge of Eclipse is an advantage

Who we are

Markel Group (NYSE – MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.

What’s in it for you

• A great starting salary plus annual bonus & strong benefits package…
• 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave
• Fantastic company pension scheme, private medical and dental cover, life assurance, travel insurance cover, income protection, season ticket loan as well as other great benefits on offer
• There are countless opportunities to learn new skills and develop in your career and we can provide the support needed to do just that!

Are you ready to play your part

Choose "Apply Now" to fill out our short application, so that we can find out more about you.

Markel celebrates the value of a diverse workforce that brings experience and expertise from a wide variety of backgrounds and life circumstances. Whatever your background, if you feel you meet the requirements of this role then we want to hear from you. We are also happy to consider candidates who are looking for flexible working patterns.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status.

We will ensure that individuals with disabilities are provided with all reasonable accommodations to be able to participate in the job application or interview process and to perform essential job functions if successful. Please contact us via email at [e-mail] or call us at 0161 507 5827 to request any accommodations that may be needed. This includes any alternative formats of any documents or information on how to apply offline.

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