Underwriting Oversight Assistant

This job is with Munich Re, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community.

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.

We are currently looking for a Underwriting Oversight Assistant to be based in London on a full-time basis, reporting into the Group Head of Underwriting Oversight. In this role, you will support underwriting activities within Munich Re Specialty - Global Markets. You will play a key part in maintaining the monitoring structure, oversight, and operational processes necessary to meet underwriting standards in accordance with Munich Re Group guidelines and the Lloyd's Principles Based Oversight framework. Success in this position requires strong communication skills, an analytical mindset, and a genuine eagerness to deepen your knowledge and develop your analytical abilities. This role is open to school leavers and recent graduates.

Responsibilities:

• Conduct regular performance monitoring of peer reviews and 4-eyes reviews, following up with underwriters to ensure findings are appropriately actioned;
• Support analysts with regular sample reviews of LIC risks to ensure adherence to the LIC operating model, including recording and tracking any necessary actions;
• Assist with tracking policy and portfolio performance and support the Portfolio Management team;
• Support the production of regular Underwriting Oversight reports for MRSL committees and provide underwriting reports and data extracts as required by internal stakeholders;
• Assist with data collection and file administration for key review functions such as Independent Peer Review, Central Underwriting reviews, and internal audits;
• Provide administrative support in maintaining the team SharePoint site, wider intranet, and monitor the team mailbox including maintaining logs of underwriter referrals and dispensations;
• Support scheduling and minute taking for internal meetings;
• Provide support to underwriters in navigating and staying up to date with the latest Munich Group and local underwriting policies and guidelines;
• Attend regular team and underwriter meetings to maintain current knowledge and understanding of relevant topics and assist with ad-hoc tasks from other areas of the business as needed;
• Help drive forward good conduct within the business to deliver the best outcomes for customers and policyholders.

Knowledge and Skills

Essential:

• Keen interest in the Lloyd's insurance market;
• Analytical mindset;
• Good organisation skills;
• Strong communication skills;
• Willingness to develop knowledge of insurance disciplines including Underwriting, Pricing and Claims.

Preferred:

• Basic awareness of FCA / PRA regulations;
• Basic awareness of the Lloyd's Principles for doing business and oversight framework;
• Basic knowledge and understanding of the underlying principles of insurance and reinsurance.

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.

Learn more about sustainability at Munich Re - choose your impact!