Role Title: Senior Underwriting Assistant - Reinsurance
Department: Operations RI
Team: Underwriting Support
Location: London
Type: Permanent
About the Role:
Support the Reinsurance business unit, providing accurate and efficient data management and processing of accounts, with quality service levels. You will gain extensive exposure to the underwriting function and work closely with the wider London LM RE team.
About the Department & Team:
Underwriting Support is a team in the business support division which sits within the wider operations department. As a team, we ensure our offshore colleagues are provided all the information required to accurately process premiums onto our policy admin systems within the agreed SLAs. Supporting the underwriting teams in general administration of the policy file, reporting, operational process advice and guidance and other ad-hoc requirements also forms an important part of the role the team plays within the business. We also work very closely with the cash and credit control functions to ensure any issues or queries relating to payments are investigated and actioned accordingly.
The operations department also comprises divisions such as MI and analytics, claims operations, facilities, strategic operations and IT. Data timeliness, quality and accuracy are at the heart of our core responsibilities and processes and together we provide effective support services to the whole business enabling LSM to meet its revenue, growth and other strategic goals.
Key Responsibilities:
Senior Requirements
- Assist other members of the Underwriting Support team and LMRe Underwriting teams with queries and operational processes, as and when required
- Act as a mentor to other members of the team regarding operational processes and procedures
- Assist management in administrative tasks and meetings as required
- Highlight any concerns/issues and provide recommendations for improvements to the Operations Manager
Requirements
- Administers accurate and timely logging of data onto the relevant systems i.e. premium/ policy/endorsement /quotes/renewals and submission entries and manages own workload appropriately
- Monitors own performance with SLA’s and KPI’s
- Maintains all user defined databases for underwriting unit
- Assist in the resolution of all transactional data management issues (cash allocations, debtors, signings management) within SLA’s
- Support various month close procedures
- Administers Document Management processes to correct standards
- Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.
Customer Management
- Regularly meet and have open dialogue with the underwriting customers, to ensure that their service levels are being met
- Performance and behaviour feedback for the Underwriting Assistants is captured and where necessary, acted upon.
- Data quality issues are identified promptly
- New administrative tasks can be captured and assessed in good time.
- Anticipates the needs of and provides underwriting support in a timely manner to the assigned Underwriting Class
- Manage the timely response to requests for information related to policy processing
- Involvement in renewal preparation by monitoring risks throughout the year, creating renewal packs, chasing renewal information and updating renewal spreadsheets
- Support box duties and/or ad hoc requests from underwriters (London Only)
- Support other customers and colleagues as required, e.g. Claims Adjusters, Risk Engineers Exposure Management
- Liaise with Brokers to manage Accounts
- Identify and escalate important or critical business issues to the Reinsurance Operations Manager
- Maintain a high level of confidentiality at all times
Governance
- Represent underwriting support team in meetings at the direction of or in place of the Operations Manager/Branch Manager
- Coordinate any internal or external audit activities as directed by the Operations Manager/Branch Manager
- Assist the Operations Manager/Branch Manager in monthly and Compliance reporting such as LAG and LAP reports (if appropriate)
Team Work
- Provides formal and ad hoc training to Underwriting Assistants as required
- Prioritise work and gives a good level of attention to detail to ensure quality and timeliness targets are met
- Ability to work well with other UAs and wider Underwriting Support Team
- Actively participate in weekly team meetings, sharing relevant information with colleagues and contributing positively to the team’s objectives
- Raise salient business issues to the appropriate management level
- Contribute to system and process change activities as directed by the Operations Manager/Branch Manager
- Any other duties as are reasonably requested.
Professional Development
Under the guidance of the Operations Manager/Branch Manager make:
- Measurable progress against the development framework
- Commit to and demonstrate progress towards professional qualifications (e.g. ACII)
- Further develop an understanding of Underwriting and target business
- Maintain documented evidence of progression towards achieving annual appraisal objectives.
- Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing
Skills and Experience:
- Relevant insurance experience, preferably within the London/ Lloyd's Market
- Experience with transactional insurance system Genius/IRIS highly desirable
- Good verbal and written communication skills
- Good MS Office skills; Excel in particular.
- Experience of working to varying and tight deadlines
About Liberty Mutual Reinsurance:
Liberty Mutual Reinsurance is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why “Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
- Offering a vibrant and inclusive environment and committing to their career development.
- Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
For more information, please follow the links below:
https://www.libertymutualre.com/careers/working-for-us
https://www.libertymutualre.com/careers/diversity-inclusion-wellbeing/inclusion-matters-networks
