Underwriting Manager: Financial Risk Solutions

FRS are looking for a highly motivated candidate to join our market-leading credit & political risk franchise. The successful candidate will take a leadership role within the London business, spanning the Short-Term Trade Solutions, Credit Solutions and Political Risk Solutions pillars. We offer a wide product set to a diverse range of financial institution and corporate clients and are looking for a new senior team member to help grow these products and relationships.

Alongside underwriting, the role will encompass acting as a referral point for more junior team members, managing, training and developing people, strengthening client and broker relationships and supporting the Head of London Markets on the overall management of the regional FRS business. We recruit from a wide range of backgrounds and offer a dynamic, challenging and innovative environment as part of an industry-leading team.

About the Department & Team: Financial Risk Solutions (FRS) underwrite credit and political risks on Company insurance paper and through Lloyd’s of London. These risks relate to non-payment and non-performance of private and public sector counterparties, and political perils such as expropriation or confiscation of assets by foreign governments, export embargo, forced abandonment, war etc. Cover is offered in both a single-risk and portfolio structure. FRS clients are banks, corporates, trading companies, export credit agencies and multilaterals. FRS is a global business; we have regional underwriting hubs in the US, London, Paris and Singapore supported by three global product pillars - Short Term Trade Solutions, Credit Solutions and Political Risk Solutions.

Key Responsibilities:

• Managing a team of high performing underwriters with a key focus on training and development.
• Rigorously underwrite a wide range of complex insurance risks in accordance with the business plan and personal authority, including negotiating rates, terms and conditions for existing and new business.
• Act as a referral point for the London team on deal escalations, wording negotiations and challenging client/broker conversations.
• Take responsibility for specific client and broker engagement strategies. Establish and strengthen relationships with clients, brokers, industry bodies and internal colleagues to support continued business development.
• Assist in positioning the FRS portfolio to reflect emerging risks, market dynamics, market cycles and trends in wordings and terms & condition to drive and enhance business performance.
• Participate in the review and analysis of the portfolio to identify areas of risk concern and new business opportunities together with Country, Credit & Portfolio Risk Management.
• Motivate the London team by demonstrating good leadership behaviours and strong work ethic. Contribute to and participate in team meetings in order to share and develop knowledge, risk awareness and best practice.
• Maintain expertise and knowledge through appropriate development opportunities.
• Interact with other functions in our Integrated Business Unit, e.g. Actuarial, Reserving, Claims, Finance, Operations, Compliance etc.
• Ensure entries are properly recorded in relevant systems in a timely manner whilst ensuring accuracy of data in relation to both underwriting and aggregate exposures.
• Apply reinsurance requirements in accordance with business plan and reinsurance treaty.
• Adhere to all applicable internal and external laws, regulations, policies, procedures, guidance and best practice methodology in order to minimise risk.
• Adhere to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity.

Skills and Experience:

• Experience working in the Financial Services sector, preferably in a leading credit risk underwriting or broking franchise, front office/credit/loan syndication function at a commercial or investment bank, or in a Public Agency engaged in credit risk insurance or direct lending function.
• Demonstrable expertise in the assessment and pricing of credit risk and political risk with proven abilities in credit analysis.
• Understand the drivers of Financial Institutions’ use of risk mitigation products, their internal credit application and review processes and regulatory framework.
• Use of risk profiling and pricing tools and loss models.
• Excellent numeracy, literacy, interpersonal, communication and negotiation skills.
• Highly organized with excellent attention to detail.
• Ability to analyse and use data for decision making. Proven ability to make risk-based decisions under time constraints.
• Economic, political, current affairs interest and knowledge.
• Knowledge of legal and regulatory requirements.

About Liberty Specialty Markets (LSM): Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets. Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• Offering a vibrant and inclusive environment and committing to their career development.
• Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
• Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.