Job Description
JOB TITLE:
Underwriter
DEPARTMENT:
Brit Global Specialty
JOB HOLDER: REPORTS TO:
Jehangir Kadan
Purpose of the Job:
To underwrite business for Brit Global Specialty with the aim to develop business opportunities within the general, commercial insurance markets. To enhance earnings through a strong mix of specialist risk taking and investment skills combined with a distribution capability, to build a strong business profile as the leading company in our sector.
Budget and Headcount Information:
- General - To elevate to the Class Underwriter all Human Resources performance or any other personnel issues in line with Human Resources Policies.
- To undertake and submit performance reviews (where appropriate) for the team within the timescale agreed with Human Resources.
- Training & Development - In liaison with the Class Underwriter, ensure that the development needs of the team are met.
Principal Accountabilities: Business Planning
- Preparation - To support the Class Underwriter in the preparation of the Business Plan as required.
- Maintenance - To ensure that the business plan is maintained in line with the Key Performance Indicator's as established by the Underwriting Committee.
- Strategy - To understand and ensure that the strategy is fully supported within the Underwriter Role.
- Report & Accounts - To assist the Class Underwriter with preparation of data for inclusion in the company report and accounts.
Underwriting
- Client Audits - Assist and support the Class Underwriter with Client Audits ensuring always that changes implemented by the Class Underwriter are maintained.
- Key Relationships - Assist the Class Underwriter in developing key relationships at level equivalent to Underwriter role with brokers etc.
- Capacity - Monitor the capacity so that the Class Underwriter can ensure that appropriate business is being written.
- Evaluation and Control - Underwrite insurance and re-insurance risks in accordance with the approved business plan, subject to individual authorisation levels, referring to the Class Underwriter as appropriate.
- Business Development - To assist the Class Underwriter in the research and development of new business.
- Peer review - To support the Class Underwriter and present own risks at Peer Review meetings and to participate in discussions on risks written by other areas of division.
Compliance
- Recording & Reporting - Assist the Class Underwriter in ensuring that recording and reporting of relevant information is done within regulatory boundaries.
- Regulatory Issues - Ensure that all risks are written within regulatory guidelines.
Decision Making Responsibilities:
Underwrite insurance and re-insurance risks in accordance with the approved business plan, subject to individual authorisation levels, referring to the Class Underwriter as appropriate.
Regulatory Conduct Rules
- Act with integrity.
- Act with due skill, care and diligence.
- Be open and co-operative with Lloyd's, the FCA, the PRA, and other regulators.
- Pay due regard to the interests of customers and treat them fairly.
- Observe proper standards of market conduct.
Education, Qualifications, Knowledge, Skills and Experience:
- ACII qualified (preferable)
- To have a minimum degree education (preferable)
- Thorough knowledge and experience of underwriting within the relevant market.
- Up to date understanding of market compliance and regulatory requirements for this class.
- Familiarity of Brokers within the market, and the ability to establish and maintain good working relationships.
- Sound IT skills, particularly the use of MS Office packages to intermediate level
- Strong numerical and literacy skills.
- Good leadership skills, with the ability to train, mentor and oversee a small team of Underwriting assistant staff.
- The ability to research and collate various information sources, to enable the timely preparation of reports.
- The ability to independently prioritise tasks and meet tight deadlines.
- Experience of analysing trends and shifts within the market and relevant class of business and reporting and acting upon findings where necessary.
As a term of your employment you may be required to undertake such other duties as may reasonably be required of you in the post and department mentioned above.
Signed by the candidate .
Name Dated .