Surety - Junior Account Handler

What is Surety?

Surety is an obligation by a financial institution (which for our purposes is an insurance company) to guarantee the contractual or commercial obligations of one party, the Principal, to another, the Beneficiary.

Surety bonds can be required under the terms of a contract, or in accordance with statutory or licensing requirements, to secure the performance of the Principal in its commercial or contractual obligations to the Beneficiary.

This role will be part of the international surety team responsible for managing the bond requirements of large global companies (including ENR and Global 500 companies).

The role will focus on managing and developing complex structured solutions and international obligations, including being able to review financial information and draft legal documentation.

This might sound complicated, but full training will be provided – we are looking for someone who is keen to learn, ambitious, and not afraid to get stuck in!

What will you be doing?

Planning/Reporting:

• Works with minimal guidance to organise own work activities to ensure that personal and Team objectives are achieved
• Meets agreed targets
• Participates in team meetings as required, reporting on business progress within their area of expertise
• Manages assigned projects and contributes to other project as required
• Provides relevant management information to senior managers

Technical:

• Reviews client documentation to ensure that information presented is sufficiently comprehensive/accurate to support the quoting process
• Collates and communicates client requirements to ensure appropriate marketing of the risk
• Prepares or checks market presentations
• Liaises with clients and ensures client queries are resolved
• Responds to market and third party queries as appropriate
• Is aware of, and satisfies, territory, tax and legislation requirements
• Produces high quality and compliant market documentation ensuring appropriate authorisations are secured
• Plans the most appropriate solution for the client’s demands and needs
• Takes responsibility for data entry, credit control and chasing subjectivities where required
• Liaises with support technicians and IBA as required
• Ensures up to date records are maintained at all times on the Company system
• Knows when to seek guidance from senior members of the team

Policy, Process and Procedures:

• Works within agreed parameters and uses relevant systems to ensure documentation/communications adhere to company procedure/compliance requirements and provide an adequate audit trail
• Processes data promptly and accurately on relevant systems in order to support and improve high levels of client service/internal process execution and to facilitate informed analysis
• Maintains appropriate client files, and oversees the prompt and accurate production of documentation to best meet client, company and regulatory requirements
• Ensures appropriate due diligence/sanctions checks are conducted in line with company procedures
• Adheres to company policies and procedures and obtains necessary authorisations at appropriate points in the process

Environment, Customer Focus and Relationships:

• Builds and maintains strong relationships with internal stakeholders and external contacts to ensure service delivery meets expectations and is compliant
• Provides support and assistance to senior colleagues and/or their clients on request
• Deals with, or refers, client enquiries, renewals and mid-term adjustments
• Develops strong relationships with immediate Team and the wider Business Unit
• Solicits advice and guidance, when appropriate, from their line manager
• Behaves with all clients fairly and ethically
• Shares information that could be beneficial to the Operating Entity/Group

And what do we need from you?

Knowledge/Experience

• Understands general and legal principles of insurance
• Understands the relevant regulatory and legal frameworks
• Knowledge of the market including an awareness of competitors, specific territory knowledge, cultural awareness
• Relevant product(s) knowledge is required
• Relevant experience in an account handling or technical role is desirable
• Good understanding of Team objectives and how own role contributes to these
• Specific systems knowledge relevant to role

Skills/Behaviours

• Customer focused approach
• Numerate and literate
• Good communication and interpersonal skills
• Able to work independently and use initiative
• Able to work flexibly to achieve tight deadlines/targets with good organisation skills
• Computer literate
• Analytical and able to solve problems
• An attention to detail and willingness to learn
• Calm and resilient under pressure
• Able to positively react to change
• Is a team player, networks and able to build sustainable relationships
• Able to build sustainable working relationships
• Able to train junior members of the team on specific system/process tasks

Qualifications

• GCSE Maths and English (or equivalent)
• A levels (desirable)
• Attainment of the LLMIT (the Lloyd's and London Market Introductory Test), where relevant to the role
• Working towards or has attained ACII (although this is not critical)
• Language skills would be great!