Job Description

Location

London, United Kingdom

Job type

Full-Time

Work mode

Hybrid

Job level

Professional

Job ID

11521

Company

Munich Re Specialty - Global Markets

Employment type

Regular

Area of expertise

Claims & Underwriting

About us

At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
Please see our website for more information.

Senior Delegated Underwriting Analyst

We are currently looking for aSenior Delegated Underwriting Analyst to work with us on a full-time basis in London, reporting into the Deputy Delegated Underwriting Manager.
You will be responsible for all forms of Delegated Underwriting due diligence and quality control (binding authorities, lineslips, consortia and the like) and support the Deputy Delegated Underwriting Manager in delivering timely and accurate reviews of third party Coverholders and International Distribution Companies (IDCs) working in collaboration with the Group Head of Delegated Underwriting in a team of 7 and in the broader Delegated Underwriting team.

Responsibilities:

Undertake risk-based Coverholder on-boarding reviews by: assessing due diligence documents, e.g. licences, PI/E&O insurances, financial crime, UK and international insurance requirements, etc.; conducting binding authorities and other forms of delegated underwriting pre-bind quality assurance (PBQA) including MRS requirements, Lloyd's international regulatory requirements, conduct risk principles, anti-money laundering and international sanctions; Support Underwriters' submissions and contribute to the meetings of the Delegated Underwriting Group (DUG) providing feedback to relevant stakeholders; Liaise with all internal and external stakeholders involved with Delegated Underwriting, particularly providing advice and support to the Underwriting teams including broker relationships; Support the delivery of Delegated Underwriting training to other team members and relevant stakeholders; Maintain accurate delegated underwriting records, including managing coverholder and binding authorities entries using the Syndicate's dedicated tools (Subscribe, MASSDA and VIPR going forward); Review Lloyd's international regulatory trading requirements, e.g. Crystal reviews to support Pre-Bind Quality Assurance (PBQA) for binding authorities; Support and assist the Group Head of Underwriting Management and Deputy Delegated Underwriting Manager with all delegated underwriting project initiatives; Understand all appropriate lines of escalation and the responsibilities of governance within MRSL Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders. Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

Sound knowledge of delegated underwriting/authorities business Working business knowledge and understanding of: Lloyd's delegated authority tools, e.g. Atlas, DCOM, Crystal Plus, IMR Report production, analysis and presentation utilising reporting tools Underlying principles of insurance/reinsurance practice Lloyd's Market practices and regulation, specifically relating to delegated underwriting Demonstrate clear understanding of all company specific procedures that relate to own role Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and operation of the department and wider organisation Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation Skills Demonstrate high degree of attention to detail and accuracy and use of relevant reporting tools Ability to manage own workload and to work both supportively and jointly with colleagues Ability to work under pressure and flexibly when necessary, prioritising tasks, resource planning and meeting deadlines Use of communication skills, both written and verbal reporting and presentation, that are both effective and meet business needs

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty - Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re - choose your impact!

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

#BePresent

#BeBold

#BeCurious

Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary
We provide fair and competitive compensation that reflects your performance and commitment.
Company performance-based Incentives
In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.
Recognition and Special Rewards
We recognise outstanding individual contributions through a variety of targeted rewards and incentives.
Retirement Planning
We support your long-term financial wellbeing with retirement solutions aligned with local regulations.
Inclusive Workplace Culture
We foster a respectful, inclusive, and values-driven environment.
Learning & Development
We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.
Work-Life-Balance
Supporting your ability to balance family, leisure, and your career.
Health & Wellbeing
We support your physical and mental health through a range of programs and activities in each location.