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- Tasks: Support underwriting oversight and performance monitoring to ensure compliance and best practices.
- Company: Join Munich Re, a leading provider in specialty insurance with a supportive culture.
- Benefits: Inclusive work environment, opportunities for growth, and commitment to diversity.
- Why this job: Make a real impact in the insurance industry while developing your skills.
- Qualifications: Experience in underwriting or insurance analysis; analytical mindset preferred.
- Other info: Embrace diversity and innovation in a dynamic workplace.
The predicted salary is between 36000 - 60000 £ per year.
About us
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.
To support and develop the monitoring structure, oversight and operating mechanisms required to aid in meeting expectations under both Munich Group guidelines and the Lloyd’s Principles Based Oversight framework
Responsibilities
- Assist with benchmarking of policies and portfolios for performance monitoring and supporting overall Portfolio Management
- Conduct regular performance monitoring of peer reviews and 4-eyes reviews, including follow up with Underwriters to ensure findings are appropriately actioned
- Conduct regular sample reviews of LIC risks to support adherence with the LIC operating model, including follow up with Underwriters to communicate findings and detail any appropriate actions
- Provide support to underwriters with understanding, navigating and keeping up to date with latest Munich group and local underwriting policies and guidelines
- Support with production of regular Underwriting Oversight reports for MRSL committees
- Support production of UW reports as required by regulators
- Attend regular team and Underwriter meetings to ensure knowledge and understanding of all relevant topics remains up to date
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
Knowledge and Skills
- Underwriting and / or Insurance business analyst experience
- Knowledge and understanding of FCA / PRA regulations
- Knowledge of the Lloyd’s Principles for doing business and oversight framework
- Knowledge and understanding of the underlying principles of insurance and reinsurance
- Current Lloyd’s market knowledge
- Analytical mindset
- University degree considered advantageous
Willingness to continue to develop knowledge of any pricing related matters.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.
Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
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Underwriting Oversight Analyst employer: Munich Re
Contact Detail:
Munich Re Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriting Oversight Analyst
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those at Munich Re. A friendly chat can open doors and give you insights that a job description just can't.
✨Tip Number 2
Prepare for interviews by researching the company culture and values. Munich Re loves bold and curious individuals, so think about how you can showcase your personality and fit into their team.
✨Tip Number 3
Practice your analytical skills! Since the role involves performance monitoring and oversight, brush up on relevant case studies or scenarios that demonstrate your problem-solving abilities.
✨Tip Number 4
Don’t hesitate to apply through our website, even if you don’t tick every box. We value diverse experiences and perspectives, and you might just be the fresh talent we’re looking for!
We think you need these skills to ace Underwriting Oversight Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experiences that align with the Underwriting Oversight Analyst role. Highlight any relevant underwriting or insurance business analyst experience, and don’t forget to mention your understanding of FCA/PRA regulations!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re excited about the role and how your background makes you a great fit. Be bold and show us your curiosity about the industry!
Showcase Your Analytical Mindset: Since this role requires an analytical mindset, make sure to include examples in your application that demonstrate your problem-solving skills and ability to conduct performance monitoring. We love seeing how you think!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at Munich Re
✨Know Your Underwriting Basics
Before the interview, brush up on your understanding of underwriting principles and the Lloyd’s oversight framework. This will help you speak confidently about how you can contribute to the team and align with their goals.
✨Showcase Your Analytical Skills
Prepare examples from your past experience where you've successfully conducted performance monitoring or peer reviews. Be ready to discuss how your analytical mindset has led to actionable insights in previous roles.
✨Stay Updated on Regulations
Familiarise yourself with the latest FCA/PRA regulations and any recent changes in the insurance landscape. This knowledge will demonstrate your commitment to staying informed and your ability to navigate complex regulatory environments.
✨Emphasise Your Team Spirit
Since collaboration is key in this role, think of instances where you've worked effectively within a team. Highlight your willingness to support underwriters and drive good conduct, showing that you're not just a lone wolf but a team player.
