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We are currently looking for an Assistant Underwriter to work with us on a full-time basis in our London office reporting into the CUO - Cyber.
You will ensure the prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm's reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm. To provide accurate and high quality administrative services to the Cyber underwriting team, demonstrating care for customers and respect for the regulatory obligations of the Syndicate.
Responsibilities
- Delivering the agreed business plan
- Reviewing and Underwriting Cyber risks, exercising judgement in all underwriting matters, and remaining aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan;
- Conduct and develop effective relationships within Lloyd's, both with peers and with Brokers
- Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority.
- Make written records of all conversations with customers, both internal and external, in accordance with the firm's procedures manual.
- Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
- Review and administer existing contracts and make amendments in line with the firm's underwriting philosophy;
- Monitor recording of risk entry and amend where appropriate;
- Be aware of and take ownership of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner. In this context risk is the potential for loss or failure to meet business objectives as a consequence of internal or external events.
Support underwriting assistants as required in
- Entering data into the in-house S2000 underwriting system, pricing tools and other administration systems as required;
- Scanning and photocopying of documents as required;
- Management of documents within Underwriter file per current team requirements.
- Ensure all underwriting contracts are contract certain respective underwriting file is complete.
- Managing/monitoring electronic placing documentation on platforms such as PPL
- Reviewing and managing exception reports on a weekly basis;
- Reviewing and posting daily premium closing messages in S2000
- Assist in managing credit control and aged debt
- Maintaining renewal lists and chasing brokers for renewing risks
- Any other ad-hoc tasks as necessary
Knowledge and skills
- Underwriting Principles
- Legal Principles
- FCA and Lloyd’s rules and regulations including contract certainty issues
- All company specific procedures that relate to own role and role of those employees that you are supervising
- Cyber Insurance as traded in the Lloyds market
- Demonstrate clear understanding of all company specific procedures that relate to own role;
- Demonstrate growing understanding of the roles of colleagues and their relationships to the structure and business plans of the firm;
- Willingness to continue to develop knowledge of policies and related issues through formal and informal learning, both internally and externally to the firm
- Develop and maintain market awareness.
- Be aware of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.
Benefits
- 25 days Annual Leave + Bank Holidays
- 10% Non-contributory Pension
- Eligibility for an Annual Bonus
- Private Medical + Dental Insurance
- 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
- Hybrid Working + IT Home Set-up Support
