Job Reference: 230000W0
As Risk & Strategy Senior Analyst, you will join a well-established and market-leading underwriting business focused on writing specialty and wholesale risks in the London market and internationally. Insurers need to manage the uncertainty as the London market implements Blueprint 2 and the industry increases its use of electronic trading. Two factors stand out as being important for this role:
- Through this transition phase, Chubb Global Markets needs to review market opportunities and make timely decisions. (Underwriting strategy)
- As the business grows and implements new systems and technology, there is a need to maintain strong oversight of the underwriting control framework. (Underwriting governance)
Following a recent departure, management is taking the opportunity to enhance capabilities around underwriting strategy and governance. As a result, CGM is increasing the number of resources focussed on these areas and combining them into a single operating team. This will ensure decisions made in respect of underwriting strategies are supported and underpinned by the appropriate governance and control framework.
The role will sit within the Strategy and Risk team and report to the Head of Underwriting Strategy and Risk. All product lines and distribution channels are in scope and include Property, Marine, Aviation, Financial Lines & Cyber, Energy, and Political Risk and Credit.
The individual should expect to work in a fast-paced environment with high expectations around integrity and quality. The role will regularly engage with senior underwriters and applicants will need to demonstrate an ability to balance assertiveness with respectfulness.
The role has two main responsibilities:
- Review market opportunities relating to new products, distribution channels, geographies or technology.
- Work with the underwriting governance analyst on the design and operation of key underwriting controls and ensure compliance with regulations and standards.
The successful candidate will be expected to review market opportunities as directed. Opportunities could comprise of new products, new distribution channels and platforms, new geographies or new methods or technology that will enable a more efficient way of doing business.
In practice, this will involve performing research and presenting analysis and recommendations in a clear and intelligible way.
Identify and measure risks and work directly with the business to mitigate, manage and report to senior management and to other relevant functions and committees. The key areas of underwriting control in scope includes but is not limited to:
- Underwriting authority management,
- Underwriting peer review oversight,
- Internal audit support and action plan tracking,
- Committee preparation,
- Pre-bind quality assurance
In the short term, the candidate is expected to support the essential underwriting control processes and procedures and help identify any quick wins in terms of efficiency. In the medium to longer term, the role should look to work with the wider Chubb business to harness new approaches with data and technology. Candidates should expect to be involved in facilitating underwriter training of process and procedures.
- Support the head of Underwriting Strategy and Risk on strategic projects as required.
- Review all potential and actual breaches of underwriting authority. Work with underwriters to develop narratives and action plans. Develop reports for senior management
- Review internal audit recommendations and work with underwriting to ratify and develop action plans for remediation.
- Stay on top of all regulatory requirements that impact Chubb Global Markets and ensure appropriate action plans are developed as required.
- Provide input and support on risk and control reports for management committees and boards.
- Develop trusting relationships with underwriters.
- Facilitate training and development programmes for underwriters, including on-boarding.
- Strong experience working within (re)insurance organisations or a management consultancy firm.
- Underwriting, risk, or governance experience is required with experience reviewing or performing key underwriting controls.
- Experience writing memos, basic data analysis, and creating PowerPoint presentations.
- Candidates with London Market and Lloyd’s experience will be looked upon favourably.
- Understanding of (re)insurance business.
- Strong understanding of underwriting and knowledge of how controls are designed to operate.
- Knowledge of Lloyd’s and systems infrastructure.
- Knowledge of the three lines of defence governance model.
- Ability to write clear and concise reports and memos
- Ability to build rapport and relationships with colleagues and management.
- Working ability to use Microsoft Office suite.
- 2:1 University degree preferred. Candidates without a university degree will be considered if they have good work experience.