Vice President

Description of the role:

This position is responsible for underwriting a diverse book of business, employing the methods necessary to meet projected profitability, GWP, and expense goals, management and growth of the overall portfolio of business within the appropriate underwriting discipline/guidelines, marketing and servicing of existing and potential insured’s. This role has responsibility for supporting the regional/global head in setting strategic goals, setting budgets and developing the technical underwriting team.

Job Duties and Responsibilities:

• General underwriting functions including underwriting submission review, pricing analysis, setting of terms and conditions.
• Authorising of quotes and invoices in accordance with company guidelines.
• Responsible for timely and correct issuance of bound policies. Crafting of wordings and endorsements for authorisation by legal.
• Providing direction to the Junior Underwriters and/or Underwriting Assistant in the timely processing of Policy/Endorsement wordings.
• Perform extensive account analysis according to underwriting guidelines which include thorough review of underwriting application/submission, research, reviewing requested terms and conditions including underlying policy forms when issuing on a follow-form basis, liaising with other Company departments to establish full understanding of risk exposures and completion of underwriting worksheet.
• Active role in the development of business in Global Markets, exploring opportunities and marketing within the London Market and abroad as required.
• Supporting the regional head departmental Vice President in setting strategic goals, setting budgets and producing regular Management Information.
• Accountable for the maintenance of underwriting files in an orderly and consistent manner and in accordance with the underwriting guidelines.
• Liaise with actuarial support to develop premium benchmarking and pricing models, with development of account pricing/recommendations.
• Liaise with Claims Department on any specific claim activity and overall market claim concerns which could potentially affect profitability.
• Stay current with respect to major market and industry issues and developments.
• Relationship management - external, via attendance at key, relevant client/broker meetings, and other social outings as applicable.
• Corresponding with brokers with respect to outstanding information pursuant to binding.
• Ensuring receipt of and review of outstanding information (including underlying/followed policies) to ensure consistency with the terms and conditions agreed at binding.
• Delegation (and supervision) of work to Underwriting Operations Assistants or Assistant Underwriters as deemed appropriate; responsible for the professional development and training of assigned team members.
• Accountability for a specific region P&L: including budgeting; regional market reporting; client and broker BD and a point of contact for the designated region.
• Attendance at Lloyd’s box as required.
• Other duties as may be assigned.

Person Specification:

• Ideally, graduate-level individual with professional insurance qualification, ACII, already obtained.
• Engineering degree (civil or mechanical engineer) would be preferable.
• Required 12+ years demonstrable experience underwriting major international construction projects, with expertise and in-depth working knowledge of standard market wordings and endorsements.
• Must be highly articulate, with exceptional communication and interpersonal skills – required for significant liaison with clients and brokers including delivering effective presentations and building strong working relationships.
• Strong marketing and business development capability – commercial acumen; ability to influence and negotiate to various levels of seniority, internally and externally.
• Highly computer literate, with an advanced level proficiency using an underwriting system. Knowledge of Genius and Open Box is a distinct advantage.
• Methodical approach to work, strong organization skills; capable of dealing with tight reporting deadlines and conflicting priorities; attention to detail.
• Overall, team player with collaborative outlook – acting as a role model for more junior members of the team.