At a Glance
- Tasks: Underwrite Political Risk & Credit risks and develop client relationships.
- Company: Join Munich Re Specialty, a leader in Primary Specialty Insurance.
- Benefits: Competitive salary, supportive culture, and opportunities for professional growth.
- Other info: Collaborative team atmosphere with excellent career advancement potential.
- Why this job: Make an impact in a dynamic environment while developing your skills.
- Qualifications: Strong analytical skills and a passion for risk assessment.
The predicted salary is between 50000 - 65000 £ per year.
At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this. At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
The prudent underwriting of quality business in line with the business plan to facilitate maximum return of profit while maintaining the firm’s reputation and integrity, demonstrating care for customers and respect for the regulatory obligations of the firm.
Responsibilities:- Assist in the delivery of the business plan for the Political Risk & Credit team and be accountable for ensuring targeted income levels are met throughout the year and growth targets are met year-on-year.
- Underwrite Political Risk & Credit risks, exercising judgement in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with Underwriting business plan.
- Conduct and develop effective relationships with peers, clients and brokers, with a view to retaining quality business and securing new business that falls within the Munich Re Specialty Group appetite for Political Risks & Credit.
- Oversee the development and training (technical and non-technical) of junior members of the team, driving their progress and knowledge, including shadowing their work on new tasks and increased underwriting responsibilities.
- Work collaboratively and engage regularly with the teams in the Service Companies to ensure adherence to the global product approach of MRSG.
- Establish and run projects and initiatives such as new sub-classes and products to serve clients and diversify the portfolio from both a risk and income perspective.
- Conduct book review as well as regular monitoring and portfolio management to ensure the business plan is being executed.
- Monitor recording of all aggregate and reporting information.
- Provide Analytical Support as follows: S2000 – risk entry report production using MS Excel; Use of S2000 Adhoc reporting feature.
- Work closely with the Credit Control team and provide management reports as and when required.
- Review slips and/or other information/literature, exercising own judgment, based on knowledge and experience, acting within own limits of authority at all times.
- Make written records of conversations with customers, both internal and external, in accordance with MRSG’s procedures manual.
- Negotiate new wordings and structures, ensuring clients’ needs are serviced and regulatory requirements met, whilst preserving a prudent risk appetite, in line with the syndicate and team’s underwriting strategy.
- Ensure that company procedures and systems are followed and maintained, as per procedure and compliance manuals.
- Ensure that all contract certainty issues are addressed for all relevant risks; Review and administer existing contracts and make amendments in line with MRSG’s underwriting philosophy.
- Monitor recording of risk entry and amend where appropriate; Ensure that Peer Review Group see appropriate information and respond to PRG queries relating to the Political Risk & Credit.
Political Risk & Credit Underwriter in London employer: Munich Re Specialty - Global Markets, Syndicate
Munich Re Specialty – Global Markets is an exceptional employer that fosters a culture of support, curiosity, and boldness, empowering employees to achieve their individual goals while contributing to the company's ambition of becoming a leading Primary Specialty Insurance provider. With a strong focus on professional development, particularly for junior team members, and a commitment to maintaining high standards of integrity and customer care, employees can expect meaningful growth opportunities in a dynamic environment. Located in a vibrant market, the company offers unique advantages such as engaging projects and initiatives that diversify the portfolio and enhance client relationships.
Contact Details:
Munich Re Specialty - Global Markets, Syndicate Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Political Risk & Credit Underwriter in London
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We think you need these skills to ace Political Risk & Credit Underwriter in London
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Munich Re Specialty - Global Markets, Syndicate.
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How to prepare for a job interview at Munich Re Specialty - Global Markets, Syndicate
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Munich Re Specialty - Global Markets, Syndicate.
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Since this is a full-time position, employers at Munich Re Specialty - Global Markets, Syndicate will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
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Before your interview, reach out to current or former Munich Re Specialty - Global Markets, Syndicate employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
