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- Tasks: Manage the end-to-end loss fund process and ensure regulatory compliance.
- Company: Join Markel, a global leader in insurance and reinsurance.
- Benefits: Competitive salary, bonus, 25 days holiday, and strong benefits package.
- Why this job: Make a meaningful impact while developing your career in a supportive environment.
- Qualifications: Experience in loss fund processes and strong communication skills required.
- Other info: Flexible working patterns and diverse workforce celebrated.
The predicted salary is between 28800 - 48000 ÂŁ per year.
Looking for a role that will have a meaningful impact in Operations? We are looking for an individual to work within the Governance & Delegated team with responsibility for overseeing the end-to-end loss fund process. If you’re looking for a place where you can make a meaningful difference, you’ve found it. The work we do at Markel gives people the confidence to move forward and seize opportunities, and you’ll find your fit amongst our global community of optimists and problem-solvers.
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.
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
What’s in it for you:
- 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!
Are you ready to play your part? 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.
Loss Fund Analyst employer: Markel
Contact Detail:
Markel 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 at Markel. A friendly chat can open doors that a CV just can't.
✨Tip Number 2
Prepare for the interview by knowing your stuff. Understand the loss fund processes and be ready to discuss how you can contribute to the Governance & Delegated team.
✨Tip Number 3
Show off your skills! Bring examples of how you've tackled challenges in previous roles, especially around compliance and process improvement.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed and shows you're serious about joining our team.
We think you need these skills to ace Loss Fund Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Loss Fund Analyst role. Highlight your experience with loss fund processes and any relevant skills, like your proficiency in Excel or Power BI. We want to see how you can make a meaningful impact!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about this role and how your background aligns with our mission at Markel. Let us know what makes you tick and how you can contribute to our team.
Showcase Your Communication Skills: Strong communication is key for this position. In your application, give examples of how you've effectively communicated with stakeholders or resolved discrepancies in the past. We love seeing candidates who can collaborate and problem-solve!
Apply Through Our Website: Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it’s super easy – just hit 'Apply Now' and let’s get started on this journey together!
How to prepare for a job interview at Markel
✨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 that you have the relevant experience they’re looking for.
✨Excel is Your Best Friend
Since proficiency in MS Office, especially Excel, is a must-have, practice using Excel functions and data interpretation. Prepare to demonstrate your skills during the interview, perhaps by discussing a project where you used Excel to analyse data effectively.
✨Communicate Clearly
Strong communication skills are essential for this role. Think about examples from your previous experiences where you successfully communicated complex information to different stakeholders. This will help you illustrate your ability to be the key contact for loss fund management.
✨Show Your Collaborative Spirit
The job requires working closely with various teams, so be prepared to share examples of how you’ve collaborated in the past. Highlight any experience you have in resolving discrepancies or issues with partners, as this will demonstrate your problem-solving abilities.
