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- Tasks: Underwrite and negotiate D&O and FI accounts while driving new business.
- Company: Join a leading Lloyd's MGA focused on SME and mid-market financial institutions.
- Benefits: Enjoy competitive pay, professional development, and opportunities for travel and client entertainment.
- Why this job: Be part of a dynamic team, influence strategic growth, and develop strong broker relationships.
- Qualifications: Strong experience in FI/D&O underwriting is essential; leadership skills are a plus.
- Other info: Opportunity to mentor junior underwriters and shape underwriting processes.
The predicted salary is between 48000 - 72000 £ per year.
I am currently recruiting for a leading Lloyd's MGA who are seeking a Senior Underwriter to join their growing FI team. My client is looking for a FI/D&O Underwriting professional who has strong experience in this space. They focus on the SME - Mid Market region and write business globally. They are keen to bring someone in who is able to focus on new business, as well as renewals.
Key Responsibilities:
- Underwriting & Risk Assessment: Underwrite and negotiate D&O and FI accounts, ensuring consistency with the quality of risk, aligned with the company's strategy, and within individual underwriting authority.
- Business Development: Drive new business and maintain strong broker relationships by writing new and renewal business in line with agreed targets for Gross Written Premium (GWP).
- Portfolio Ownership: Take accountability for underwriting decisions and own the development and profitability of your book of business.
- Relationship Management: Develop and maintain close, effective relationships with brokers, insurers, and clients, including travel and client entertainment where necessary.
- Client Meetings: Encourage reciprocal visits from brokers and customers, actively participating in meetings and taking a lead role where appropriate.
- Compliance: Ensure all underwriting activity complies with relevant legislation, underwriting agreements, and industry best practices.
- Market Awareness: Stay informed about market conditions, especially in the SME and mid-market segments for D&O and FI lines.
- Strategic Contribution: Work with the leadership team to support the development and execution of the strategic business plan for the D&O and FI portfolio. Actively seek out new markets and opportunities for growth, providing recommendations for expansion where appropriate. In addition, take a leadership role in identifying new business pipelines and managing broker portfolios.
- Team Leadership & Development: Provide guidance, mentorship, and technical support to junior underwriters, assisting in their professional development. Act as a referral point for complex cases, offering support and advice to the underwriting team. Assist in the development of underwriting processes and best practices to improve team efficiency and consistency.
- Compliance & Risk Management: Ensure all underwriting activities are conducted in compliance with FCA regulations and other relevant legislation. Maintain accurate and up-to-date underwriting documentation and ensure adherence to internal risk management practices.
Senior Underwriter - Financial Institutions employer: HFG Insurance Recruitment
Contact Detail:
HFG Insurance Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Underwriter - Financial Institutions
✨Tip Number 1
Network with professionals in the financial institutions sector. Attend industry events, webinars, and conferences to meet potential colleagues and brokers. Building these relationships can give you insights into the company culture and expectations.
✨Tip Number 2
Stay updated on market trends and regulatory changes affecting D&O and FI underwriting. This knowledge will not only help you in interviews but also demonstrate your commitment to the role and the industry.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed underwriting portfolios and broker relationships in the past. Highlighting your achievements will show your capability to drive new business and maintain profitability.
✨Tip Number 4
Consider reaching out to current or former employees of the company for informational interviews. They can provide valuable insights into the company's operations and what they look for in a Senior Underwriter.
We think you need these skills to ace Senior Underwriter - Financial Institutions
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in underwriting, particularly in Financial Institutions and D&O. Use specific examples that demonstrate your ability to underwrite and negotiate accounts effectively.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the SME and mid-market segments. Mention your business development skills and how you can contribute to maintaining strong broker relationships.
Highlight Compliance Knowledge: Emphasise your familiarity with FCA regulations and industry best practices in your application. This will show that you are aware of the compliance aspects crucial for the role.
Showcase Leadership Skills: If you have experience mentoring junior underwriters or leading teams, make sure to include this in your application. Highlight how you can contribute to team development and efficiency.
How to prepare for a job interview at HFG Insurance Recruitment
✨Showcase Your Underwriting Expertise
Be prepared to discuss your specific experience in underwriting D&O and FI accounts. Highlight any successful cases you've managed, focusing on your risk assessment skills and how they align with the company's strategy.
✨Demonstrate Business Development Skills
Since this role involves driving new business, come equipped with examples of how you've successfully developed broker relationships and achieved targets for Gross Written Premium (GWP). This will show your potential employer that you can contribute to their growth.
✨Emphasise Relationship Management
Prepare to talk about your approach to maintaining effective relationships with brokers, insurers, and clients. Share experiences where you've taken the lead in client meetings or fostered strong partnerships, as this is crucial for the role.
✨Stay Informed About Market Trends
Research current market conditions in the SME and mid-market segments for D&O and FI lines. Being able to discuss recent trends or challenges in the industry will demonstrate your commitment and strategic thinking to the interviewers.
