Underwriter Political Risk & Credit in City of London

Main purpose of job:

To take a primary role in developing the account’s Bank and Financial Institution portfolio, with a focus on effective risk selection and to also contribute to discussions in the strategic direction of the portfolio and account focus. In addition, the role requires providing support to the team in preparation and analysis of financial models, management of information reports and data analysis. We are looking for an individual with proven experience in the private insurance market or other sectors. Previous insurance experience is not required.

Key tasks:

• Establish and strengthen relationships with financial institution clients and distribution partners to develop and grow the business.
• Negotiation and indication of renewals and new business in accordance with underwriting authority.
• Agreement of endorsements and policy amendments in accordance with underwriting authority.
• Working closely with the Political Risk team in driving business growth by leveraging existing skills and expertise.
• Proactively monitoring a diversified portfolio of Political Risk exposures to ensure compliance with internal policies and preparing regular updates and reporting for management (e.g. covenant monitoring, obligor performance, sector and country analysis).
• Ensure deteriorating obligor trends are timely identified and work jointly with Claims division to manage problem credits and workout situations.
• Actively participate in client/broker meetings and cultivate existing/new client and broker relationships.
• Participate in special projects as and when required in order to meet long term objectives, including account analysis and review of key statistics for management reports.
• Specific account analysis, research and presentation of findings on individual risks for sign off by Authorised Underwriters as necessary.
• Complete, interrogate and make underwriting decisions utilising financial models.
• Liaise with Claims Department where required and take part in potential loss, reserving and recovery reporting/management.
• Assist with compilation of annual Reinsurance process.

Key personal skills required:

• Develop and maintain good relationships internally and externally with a good team ethic and collaborative mindset.
• Good written and strong spoken communication skills.
• Ability to juggle multiple tasks, prioritise and keep others organised is an advantage.
• A high level of accuracy and attention to detail.
• Ensure compliance with company and other relevant standards and regulations.

Key technical skills, knowledge and professional qualifications required:

• University Degree or equivalent.
• Banking and/or sovereign finance risk experience is desirable.
• Relevant financial services (or similar) experience is ideal, particularly with a focus on emerging market exposures.
• A good level of knowledge and interest in global economic and political affairs is desirable.
• Experience of using underwriting systems, including Excel and Electronic Placement experience is an advantage.
• Technical competency.
• Good analytical and mathematical skills. Ability to manipulate data/data interpretation and comfortable with electronic data management.
• A mathematical/accounting background would be an advantage.
• Negotiate Insurance policy wordings with brokers and financial institutions and reviewing facility documentation is an advantage but not essential as training will be given on the job.

Risk and Compliance Responsibilities:

• Ensure compliance with company and other relevant standards and regulations.
• Ensure compliance with relevant PRA and FCA conduct rules.
• Responsibility for the proper performance of all regulatory roles held in the course of employment.
• Responsibility for the proper performance of any FCA/PRA Prescribed Responsibilities assigned from time to time and contained within a Statement of Responsibilities.
• Ensure compliance with assigned risk management responsibilities.