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- Tasks: Manage the end-to-end loss fund process and collaborate with teams for success.
- Company: Join Markel, a Fortune 500 company with a global presence.
- Benefits: Great salary, annual bonus, 25 days holiday, and strong benefits package.
- Why this job: Be part of a dynamic team making a real impact in the insurance industry.
- Qualifications: Experience in loss fund processes and strong communication skills required.
- Other info: Flexible working options and opportunities for career development available.
The predicted salary is between 28800 - 43200 £ per year.
We are looking for an individual to work within the Governance & Delegated team with responsibility for overseeing the end-to-end loss fund process. Join us and play your part in something special!
The opportunity:
The Wholesale division is comprised of six underwriting teams (Cyber, Energy, Equine & Livestock, Marine, Professional & Financial Risks, and Trade Credit, Political Risk & Surety), as well as an award winning claims team, underwriting support, delegated underwriting, and strategic business development. We have staff around the world with a significant presence in Asia and the US, in addition to the London market. Our teams operate as ‘One Wholesale’, working together towards our goal to be one of the world’s great speciality insurers. We work collaboratively both within Wholesale and across the wider Markel organisation, and because we work as one we are able to create the best solutions possible for our clients, and provide exceptional development opportunities for our staff.
The Governance & Delegated Underwriting team provide a central service for the administrative support and oversight to underwriters and claims teams through the Underwriting due-diligence process, bordereaux administration and technical processing, credit control, coverholder audits and management reporting to senior management. In addition, the team work with external contacts including brokers, coverholders and regulators.
A Loss Fund Analyst is required to work within the Governance & Delegated team with responsibility for managing and administering the entire delegated underwriting process. The successful candidate would be expected to achieve individual and team targets and fully contribute to the overall success of the department.
What you’ll be doing:
- Overseeing the end-to-end loss fund process (traditional cash loss funds, Vitesse accounts and FCP)
- Ensuring adherence to both Lloyd’s and any other regulatory requirements
- Manage the loss fund reconciliations with our delegated partners
- Deliver a robust control and process framework for loss fund management
- Key contact for loss fund management for our delegated partners and Vitesse
- Loss fund referral point for internal stakeholders
- Monitor the adherence to internal standards and ensure regulatory compliance
- Collaborate with the claims team to resolve issues raised by our delegated partners or discrepancies arising from loss fund reconciliations.
- Produce regular reporting to provide oversight and drive process improvement
- Support the further adoption of Faster Claims Payments (FCP)
- Provide training and support to internal stakeholders on best practices
Our must-haves:
- Must have understanding of and experience in loss fund processes and procedures
- Ability to prepare and interpret data meaningfully
- Proficient with MS Office with a good understanding of Excel
- Power BI is advantageous
- Will be educated to a minimum of GCSE or equivalent
- Will have experience of delegated operational performance
- Possess strong communication skills
- Possess an understanding of the Lloyd’s v5.2 bordereaux minimum standards
- Knowledge of Vitesse Loss Fund Management Platform is an advantage
- Familiarity with Faster Claims Payments (FCP) is an advantage
- Knowledge of Eclipse is an advantage
Who we are:
Markel Group (NYSE – MKL) a Fortune 500 company with over 60 offices in 20+ countries, is a holding company for insurance, reinsurance, specialist advisory, and investment operations around the world.
We’re all about people | We win together | We strive for better | We enjoy the everyday | We think further
A great starting salary plus annual bonus & strong benefits package…
- 25 days paid holiday plus Bank Holidays, with the opportunity to buy/sell extra leave
- Fantastic company pension scheme, private medical and dental cover, life assurance, travel insurance cover, income protection, season ticket loan as well as other great benefits on offer
- There are countless opportunities to learn new skills and develop in your career and we can provide the support needed to do just that!
Choose ‘Apply Now’ to fill out our short application, so that we can find out more about you. Markel celebrates the value of a diverse workforce that brings experience and expertise from a wide variety of backgrounds and life circumstances. Whatever your background, if you feel you meet the requirements of this role then we want to hear from you. We are also happy to consider candidates who are looking for flexible working patterns.
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided with all reasonable accommodations to be able to participate in the job application or interview process and to perform essential job functions if successful. Please contact us via email at rec@markel.com or call us at 0161 507 5827 to request any accommodations that may be needed. This includes any alternative formats of any documents or information on how to apply offline.
Loss Fund Analyst employer: Markel Corporation
Contact Detail:
Markel Corporation Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Loss Fund Analyst
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those who work at Markel or similar companies. A friendly chat can open doors and give you insights that might just land you an interview.
✨Tip Number 2
Prepare for the interview by understanding the loss fund processes inside out. Brush up on your knowledge of Lloyd’s standards and Vitesse. The more you know, the more confident you'll feel when discussing your expertise!
✨Tip Number 3
Showcase your analytical skills! Be ready to discuss how you've interpreted data in past roles. Use examples that highlight your ability to manage loss fund reconciliations and improve processes.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you’re serious about joining the team and contributing to our success.
We think you need these skills to ace Loss Fund Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experience mentioned in the job description. Highlight your understanding of loss fund processes and any relevant experience you have. We want to see how you fit into our team!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about the Loss Fund Analyst role and how your background aligns with our goals. Keep it concise but impactful – we love a good story!
Show Off Your Skills: Don’t forget to mention your proficiency with MS Office, especially Excel, and any experience with Power BI or Vitesse. We’re looking for someone who can hit the ground running, so let us know what you bring to the table!
Apply Through Our Website: We encourage you to apply directly through our website. It’s quick and easy, and it helps us keep track of your application. Plus, it shows you’re serious about joining our team at StudySmarter!
How to prepare for a job interview at Markel Corporation
✨Know Your Loss Fund Processes
Make sure you brush up on your understanding of loss fund processes and procedures. Be ready to discuss how you've managed or overseen these processes in the past, as this will show your familiarity with the role's requirements.
✨Excel at Excel
Since proficiency in MS Office, especially Excel, is a must-have, practice using Excel functions and data interpretation. Bring examples of how you've used Excel in previous roles to analyse data or create reports, as this will demonstrate your technical skills.
✨Communicate Clearly
Strong communication skills are essential for this role. Prepare to articulate your thoughts clearly and concisely during the interview. Think of examples where you've successfully collaborated with teams or resolved issues, as this will highlight your ability to work well with others.
✨Show Your Regulatory Knowledge
Familiarise yourself with Lloyd’s v5.2 bordereaux minimum standards and any relevant regulatory requirements. Being able to discuss these confidently will show that you understand the compliance aspect of the role and can ensure adherence to internal standards.
