ole Title: Junior D&O Underwriter

Department: International / Spain / Financial Lines / D&O Commercial

Location: Madrid

Type: Permanent

About the Department & Team:

Your department in charge of underwriting, selling, monitoring and ensuring the profitability of the Directors and Officers (D&O) line of business in Spain. D&O is one of the leading teams within Liberty in Spain with 1 Line Manager, 2 Senior Underwriters and1 Underwriter.

Key Responsibilities:

Reporting to the Spain D&O Manager, you would be in charge of underwriting D&O activities in Spain:

Underwriting Support

Involvement in day to day organization of the underwriting department
UW Administrative support to underwriters
Complete and accurate administration to operations team with regards to submission entry, DOT data capture, policies or endorsement issuance, premium invoicing and collection.
Collect broker/customer information and upload onto the document management system.
Management of the existing renewal book and the new business accounts in respect of underwriting administration, , data entries onto the UW tools/systems, manuscript endorsements, etc.
Involvement in underwriting of new business accounts – liaison with clients and brokers will be required
Involvement in underwriting of the existing renewal book – liaison with clients and brokers will be required
Contribute and participate in internal and external meetings in order to support the development of the book of business
Contribute new ideas and concepts to support the development of book of business Point of contact for the COE, BPO and CC
Ownership and responsibility for accurate management information.
Managing of aggregates in conjunction with exposure management. Arranging for accounts to be modelled and making sure accounts remain within allocation.
Credit Control – managing if not actively chasing.
Development of maintenance of rating models.

Strategy and Planning

Follow the annual business plan for the Underwriting division in order to make appropriate decisions
Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice
Contribute as and when required to the planning process through research and preparation of relevant materials

Delivery

Maintain relationships with customers, brokers, business partners, reinsurers and colleagues to maximize influence and achieve business objectives
Develop knowledge of market dynamics and market cycles to support the performance of the underwriting team
Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives under Supervision, including:
i. Negotiating rates, terms and conditions for existing and new business
ii. Compliance with the production and issue of documentation in accordance with contract certainty requirements
Support the review and analysis of the portfolio, to identify progress towards business objectives
Process entries, as required, properly onto relevant systems in a timely manner ensuring accuracy of data with relation to both underwriting and aggregate exposures

Policy, Process and Procedures

Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance
Adhere to underwriting standards, instructions and best practice methodology in order to minimize risk
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 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 Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience

Understanding of the D&O Commercial range of products
Awareness and understanding of the Company’s strategy and objectives
Communicates effectively with colleagues or external stakeholders
Understands and consistently complies with the relevant Risk Management controls, Regulatory bodies etc…
Will seek to develop themselves personally and /or professionally
Performs related duties and special projects for the Department or Company as is reasonably requested
Has some knowledge of underwriting concepts, practices and procedures
Takes pride in delivering results
Good verbal, negotiation, sales, marketing and communication skills
Good analytical and decision-making skills
Timely, accurate and able to prioritize
Demonstrates initiative and drive
Fluent in English

About Liberty Specialty Markets (LSM)

Liberty Specialty Markets 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.libertyspecialtymarkets.com/gb-en/careers/working-for-us

https://www.libertyspecialtymarkets.com/gb-en/careers/diversity-inclusion-wellbeing/diversity-and-inclusion

D&O Insurance jobs

Junior Underwriter D&O