Senior Underwriting Analyst

TN United Kingdom; London; On-site; GBP 45,000 - 80,000; Full time

Job summary

An established industry player is seeking a Senior Underwriting Analyst to join their dynamic Underwriting Operations team. This role involves overseeing reporting processes, enhancing data analytics capabilities, and ensuring compliance with regulatory standards. The ideal candidate will leverage state-of-the-art reporting technologies like Power BI to drive insights and support decision-making across the organization. With a commitment to fostering a supportive and inclusive work environment, this company offers a competitive salary and a comprehensive benefits package designed to promote wellbeing and work-life balance.

Benefits

Non-contributory Pension

Private Medical Care

Life Assurance

Wellbeing Programs

Flexible Working Hours

Qualifications

• Strong understanding of insurance principles and the Lloyd’s environment.
• Experience with data analytics and reporting technologies.

Responsibilities

• Responsible for internal and external reporting and analysis.
• Coordinate regulatory returns and maintain policy administration systems.

Skills

Insurance Principles

Data Analytics

Power BI

Communication Skills

Attention to Detail

Education

Bachelor's Degree in Finance or Business

Tools

Syndicate Systems

e-Placement Platforms

Job description

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Description:
At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.

About us
MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive

The Senior Underwriting Analyst will be an integral part of the Underwriting Operations team with a focus on owning & overseeing monitoring, reporting, processing controls and operations applicable to the business underwritten in the London Market and International Distribution Companies and managing services being provided by Underwriting Operations.

Jointly with the Head of Underwriting Operations, the Senior Underwriting Analyst will guide and coach the team to continually improve the services provided, in particular by implementing state-of-the art reporting technologies, such as Power BI.

Responsibilities

• Be responsible for the regular internal and external reporting to support the organisation, including the production and analysis of regular reports and the development and enhancement of reporting tools.
• Prepare and review standard and ad-hoc reports and KPIs for internal monitoring, underwriting controls, data quality and management level review.
• Coordinate and complete regulatory returns such as ATIA, GAREAT and PMDr.
• Take ownership of the recording of Employers’ Liability policies on Syndicate systems and the subsequent regulatory reporting to the Employers’ Liability Tracing Office (ELTO) and respond to related queries received and issues identified, developing and enhancing processes where needed.
• Creating insights from portfolio of reports with a view to facilitate data-enabled decision making in Underwriting, Operations and the wider business
• Maintain Syndicates policy administration systems. In-depth knowledge of Subscribe/S2000 essential. Act as system administrator for e-placement platforms and peer review systems (guided by respective Digital Product Owners).
• Engage and develop relationships with underwriting teams to provide ongoing training to all staff on underwriting systems and procedures, in order to promulgate best practice throughout MRSG.
• Provide response and solutions to underwriting audits by Lloyd’s, external auditors, Internal Audit and the wider Munich Re Group including the preparation and presentation of required underwriting information.
• Take ownership of maintaining a list of all Individual Authority limits documents on behalf of Munich Re Syndicate Ltd
• Contribute to any ad-hoc Underwriting Operations and Underwriting Management issues as and when required.
• 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 the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC) , ExCo and Board for Conduct Risk.

Knowledge and Skills

• Demonstrate clear understanding of the underlying principles of insurance and the Lloyd’s environment, including Lloyd’s Principles and the workings of a managing agent.
• Ability to work under pressure and flexibly when necessary, prioritising tasks, resource planning and meeting deadlines.
• Ability to guide, support and coach other team members
• Familiarity with implementing, maintaining and developing state-of-the-art reporting technologies such as Power BI, data analytics capabilities and reporting process automation
• Use of communication skills, both written and verbal reporting and presentation, that are both effective and meet business needs.
• Demonstrate high degree of attention to detail and accuracy.

Your career with us
At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!