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- Tasks: Support underwriting governance and analyse data in a fast-paced environment.
- Company: Join a leading firm in the London Insurance Market with a collaborative culture.
- Benefits: Gain valuable experience, develop analytical skills, and enjoy a supportive team atmosphere.
- Why this job: Kickstart your career in insurance while making a real impact on governance processes.
- Qualifications: Degree in a numerate subject; strong Excel skills and a willingness to learn.
- Other info: Dynamic role with opportunities for professional growth and development.
The predicted salary is between 36000 - 60000 £ per year.
The role involves supporting the Underwriting Governance Team with a variety of activities that ensure underwriting across the business operates within a disciplined, well-controlled framework. This entry-level role provides an excellent opportunity to develop analytical and technical skills. Working in a small team, you will assist with analytics and operation of underwriting governance controls and work closely with underwriting teams and other functions in a collaborative, fast-paced environment in the London Insurance Market.
Key accountabilities:
- Support and operate our underwriting governance framework.
- Operate underwriting-related internal controls.
- Manage data collection and perform analysis for a number of UW Governance processes, including delivering Key Performance Indicators to our clients.
- Assist in maintaining key data sets in support of underwriting.
- Provide support for the quarterly Expected Premium Income ('EPI') review process.
- Manage and oversee exception reporting and analyse results.
- Conduct file reviews, thematic audits, and quality assurance activities across all lines of business.
- Support the Head of UW Governance in aligning our business plans with governance requirements and the risk appetites of capacity providers.
- Maintain UW Governance policies and procedures.
- Maintain action plans arising from internal reviews and audits, and follow up on remediations.
- Maintain UW Authorities.
- Assist in preparation of training materials and coordinate workshops.
- Assist with preparation of regulatory returns.
- Assist with the coordination of external underwriting audits.
- Support strategic UW Governance projects.
Skills & experience:
- A degree in a numerate or analytical subject.
- Some knowledge of insurance or placement experience would be advantageous.
- Excellent communication, stakeholder and interpersonal skills to work effectively and professionally with a diverse group of underwriting teams.
- Strong Excel skills and a methodical approach to working with data together with competency in other MS Office applications (e.g. Word, Adobe).
- Willingness to learn SQL, Power BI (other analytical tools) and a strong interest in developing insurance knowledge and concepts (with particular focus on Underwriting).
- Excellent attention to detail and ability to spot data anomalies.
- Demonstrable experience of working in fast-paced environments (not necessarily in Insurance) with the ability to problem solve and react quickly to changing priorities within tight deadlines.
- Ability to self-lead and work effectively both independently and with teams.
Junior Underwriting Governance Analyst in City of London employer: Avencia Consulting Services
Contact Detail:
Avencia Consulting Services Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Junior Underwriting Governance Analyst in City of London
✨Tip Number 1
Network like a pro! Reach out to people in the insurance industry, especially those working in underwriting. Attend events, join online forums, and don’t be shy about asking for informational interviews. You never know who might have a lead on that perfect Junior Underwriting Governance Analyst role!
✨Tip Number 2
Show off your skills! Create a portfolio or a personal project that highlights your analytical abilities and Excel skills. This could be a data analysis project related to underwriting or even a mock-up of governance processes. It’s a great way to demonstrate your capabilities beyond just a CV.
✨Tip Number 3
Prepare for interviews by brushing up on your knowledge of underwriting governance. Familiarise yourself with key concepts and current trends in the insurance market. We recommend practising common interview questions and having examples ready that showcase your attention to detail and problem-solving skills.
✨Tip Number 4
Don’t forget to apply through our website! We’ve got loads of resources to help you along the way. Plus, applying directly can sometimes give you an edge over other candidates. So, get your application in and let’s get you started on your journey to becoming a Junior Underwriting Governance Analyst!
We think you need these skills to ace Junior Underwriting Governance Analyst in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Junior Underwriting Governance Analyst role. Highlight any relevant skills, especially those related to data analysis and governance. We want to see how your experience aligns with what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about underwriting governance and how your background makes you a great fit. Keep it concise but engaging – we love a good story!
Show Off Your Analytical Skills: Since this role involves a lot of data analysis, make sure to showcase your analytical skills in your application. Mention any tools or software you've used, like Excel or SQL, and how you've applied them in past experiences.
Apply Through Our Website: We encourage you to apply through our website for the best chance of getting noticed. It’s super easy, and you'll be able to keep track of your application status. Plus, we love seeing applications come directly from our site!
How to prepare for a job interview at Avencia Consulting Services
✨Know Your Numbers
As a Junior Underwriting Governance Analyst, you'll be dealing with data and analytics. Brush up on your Excel skills and be prepared to discuss how you've used data in past experiences. Maybe even bring a few examples of how you’ve analysed data or solved problems using numbers.
✨Understand the Insurance Landscape
While you might not have extensive experience in insurance, showing that you’ve done your homework can set you apart. Familiarise yourself with basic underwriting concepts and current trends in the London Insurance Market. This will demonstrate your genuine interest in the role and the industry.
✨Showcase Your Communication Skills
This role requires excellent communication and interpersonal skills. Be ready to share examples of how you've effectively communicated with diverse teams or stakeholders in previous roles. Think about times when you had to explain complex information clearly and concisely.
✨Prepare for Problem-Solving Questions
Expect questions that assess your problem-solving abilities, especially in fast-paced environments. Prepare some scenarios where you successfully navigated challenges or adapted to changing priorities. Highlight your methodical approach and attention to detail, as these are key in underwriting governance.
