Senior Underwriting Risk Analyst

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ABOUT US

Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups. Our headquarters are in London, and we have international offices in Copenhagen, Miami, Dubai and Singapore to be closer to our clients across the world.

Job Summary

The Risk Team has a core focus on improving overall underwriting risk management. Working with the underwriting teams, Active Underwriter, CUO, and support functions, the team ultimately plays a part in improving our underwriting result and controls environment, while at the same time giving the Board/Executives comfort over our strategy, business plan and adherence to underwriting processes and procedures.

Role Includes:

• Co-ordination of Independent Underwriting Reviews and Class Oversight Reviews.
• Effective identification of underwriting risk issues.
• The instigation of appropriate challenge of underwriting.
• Performing risk assessments on an ad-hoc basis on topics and areas that encompass Underwriting Risk.
• Support of Risk Reporting and regulatory return that include elements of Underwriting Risk.

Main Duties

The role encompasses a broad range of Underwriting risk management activities. As an Underwriting Risk Analyst, your duties will include:

• Responsibility for the co-ordination of Independent Underwriting Reviews, including assisting with the scope of reviews, co-ordinating with the external reviewer, and organising all Management Information used within the review.
• Lead on Class Oversight reviews which includes data analysis review and documentation of specific underwriting classes from a second line perspective.
• Production of Underwriting management information / regular reporting for committees, management meetings, and the wider Group.
• Carry out and lead where required on ad-hoc Risk Assessments for specific Underwriting risks (e.g., Business Plan Risk Assessment).
• Support the projects that fall under the remit of the team such as the Annual ORSA Report, Internal Model Validation, Stress Testing, and Regulatory returns, providing input from an Underwriting expertise perspective.
• Build relationships with internal stakeholders to effectively communicate key risk issues and ensure timely receipt of key Risk metrics and KPIs.
• Attendance at meetings as required.

Relevant Experience

Essential:

• Relevant insurance industry experience either within an underwriting or broking function or with regular exposure to underwriting.
• Experience of underwriting processes, practices, and underwriting risk management.
• Proficient knowledge of Excel, Word, and PowerPoint.

Desirable:

• Underwriting performance experience as well as in-depth knowledge of underwriting metrics.
• Good understanding of capital modelling, catastrophe management, actuarial and finance practices, and broader risk awareness.

Education & Experience

Essential:

• 2:1 degree or better.
• Professionally qualified or part qualified in a recognised insurance or financial/risk discipline.

Personal Skills

• Able to think critically to solve problems and justify decisions.
• A team player who is able to build strong relationships.
• Well organised, and a clear thinker.
• An excellent communicator.
• Self-motivated with a professional outlook.

Why Chaucer

An established market-leading Insurer, where over the past 5 years, the Chaucer Group has seen significant and successful growth. In 2019, we wrote $1.4bn of Gross Written Premium, closed 2023 with $2.7bn, and are on track to write well over $3bn in 2024. This is an exciting time for Chaucer; we have the people, the platforms, the expertise, and the relationships to continue our recent success. We will remain focused on the areas where we can provide the most expertise and value to our brokers and clients.

Chaucer is committed to diversity and actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation). A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment, and selection process is fair, free from bias, and one which ensures we select the right person for the job based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.

We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.

Hybrid Working

We have no appetite to change this; whilst the market is steadily moving back to 4/1 working days, we are continuing to operate on a much more flexible hybrid basis with Heads of teams working closely with employees to strike a balance of what works best in their area. Our approach has been immensely popular and a successful way of working for the business and all employees at Chaucer.

Benefits:

Extensive, non-contributory benefits, including pension, medical insurance, life insurance, flexi benefits, options for buying and selling holidays, not to mention a diverse and inclusive culture, we pride ourselves on managing employees' welfare. We have a wide range of other benefits on offer.

Seniority Level: Mid-Senior level

Employment Type: Full-time

Job Function: Finance and Analyst

Industries: Insurance Agencies and Brokerages, Insurance Carriers, and Insurance