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- Tasks: Assist with run-off administration and support due diligence for onboarding prospects.
- Company: Join RiverStone International, a leader in global non-life insurance.
- Benefits: Enjoy private medical cover, wellness programmes, and generous holiday entitlement.
- Why this job: Make an impact in the insurance industry while developing your skills.
- Qualifications: Degree or equivalent, strong communication skills, and interest in insurance.
- Other info: Flexible working with 3 days in-office and 2 days remote.
The predicted salary is between 30000 - 42000 £ per year.
RiverStone International is an established global non‑life run‑off insurance business specialist with more than 25 years of experience. Operating in the UK company and Lloyd’s of London markets, Bermuda, U.S., and Europe, RiverStone International has transacted a wide variety of deals – from insurance and reinsurance portfolio transfers to company purchases, acquiring over $17.7 billion of gross liabilities since 2010 and with around $6.7 billion of liabilities currently under management.
This role focuses on assisting with the administration of run‑off for assigned classes of business in accordance with RiverStone’s guidelines and controls, while supporting due diligence for all on‑boarding prospects. This includes actively participating in the on‑boarding process and maintaining strict confidentiality throughout. Additional responsibilities include producing Underwriting’s ExCo and Technical Balance reports, ensuring compliance with Lloyd’s and RiverStone minimum standards and providing accurate information and data to meet regulatory return requirements. Confidentiality must be maintained both within and outside the company at all times.
Responsibilities- To comply with appropriate systems that are in place for the monitoring and reporting of aggregate exposures for the class and for the monitoring and reporting of premium income for the class.
- To lead the underwriting team in the review of all future profit commission accruals by portfolio and liaise with Finance to validate.
- To comply with all endorsement agreements and update changes in PINS and any other applicable systems – as appropriate.
- Collaboration with claims and reinsurance executives with regard to the claims and reinsurance operations for the class.
- To assist and support the Delegated Team function as required – which may include, but not be limited to data management, business, regulatory and MI reporting and assist in the management of all third parties operating under a Delegated Authority.
- Escalate to the Senior Underwriter any complaints or potential issues which may lead to legal action against the syndicate agency relating to class underwriting matters.
- Providing support to senior management in the understanding and assessment of risks and exposures both underwriting and claims.
- To ensure premium estimates from transitioning business are verified and assist with credit control efforts where required.
- To assist when required with all periodic returns to Lloyd’s or local regulators across all portfolios.
- To fulfil team and regulatory responsibilities.
- To assist in the acquisition process in line with departmental requirements.
- To provide support to enable underwriting decisions across all portfolios.
- To lead the underwriting team with validation and process Profit Commission computations.
- To support Underwriting & Delegated Team with administration and processing requirements. For example, PINS, Workflow etc.
- To assist with Acquisition & Business Development (ABD) reviews as required.
- To embed Treating Customers Fairly (TCF) and Conduct Risk within the business.
- Have an awareness of Data Protection legislation, including the Data Protection Act and the General Data Protection Regulations.
- To sort the underwriting unassigned workflow tasks in Image Right.
- To complete the underwriting Exco report every month.
- To play a key role in the creation of underwritings technical balance report.
- To manage and train underwriting support in other departments.
- To be the focal underwriting member in the processing of consortium commissions and brokerages.
- To assist in projects where necessary.
- Communication (verbal & written).
- Awareness of Lloyd’s and non-Lloyd’s insurance underwriting practice and procedure.
- Awareness of open market risks, the operation of cover holders, broking facilities and delegated underwriting.
- Awareness of wordings and their application in various classes and jurisdictions.
- Awareness of both inwards and outwards reinsurance programmes, together with an awareness of the relationship between business written and outwards protections.
- Awareness of international regulatory environments relative to insurance.
- Hold a degree or equivalent qualification.
- Applicants must have an interest for self development for acquiring new skills and knowledge.
- Applicants must have an awareness of how the insurance and reinsurance market operate.
- Applicants should be proficient in standard office software applications.
- Applicants will be expected to learn and adhere to company policies and procedures.
- Applicants must have strong verbal and written communications skills.
- Applicants must have strong interpersonal and collaboration skills by being able to build relationships with people at all levels.
- Hold a good level of numeracy for analysing and interpreting data.
- Ability to manage multiple tasks, set priorities and organise work efficiently is crucial.
- Ability to adapt to new challenges and embrace change while remaining resilient under pressure.
We believe in taking care of our team and helping our employees thrive both professionally and personally.
- Private Medical and Dental cover – Comprehensive Private Medical and Dental Insurance schemes with Bupa.
- Health and Wellness – including access to our Employee Assistance Programme, Headspace subscription, Mental Health First Aiders at each site, up to five funded counselling sessions per year, annual health check‑up and eye test voucher.
- Wellbeing Allowance – Can be used towards either physical or mental health wellbeing activities.
- 25 days’ holiday per year – plus bank holidays and office closure on Christmas Eve. Holiday entitlement increases with length of service.
- Bonus scheme – dependent on achieving individual, department and company goals.
- Pension – a non‑contributory defined contribution pension scheme.
- Life Assurance – provides a lump sum 10 × your salary.
- Permanent Health Insurance Scheme – scheme pays benefits during a prolonged period of illness or disability lasting more than 26 weeks.
- Parental Leave – Enhanced Maternity, Paternity and Shared Parental Leave policy.
- Training and development – Company funding for professional qualifications that would be beneficial for your role.
- Volunteering and charity – triple matching donations made independently or via our Give As You Earn scheme, and two paid volunteering days per year to help give back to our local communities.
- Cycle to Work Scheme – a tax efficient way to purchase a bicycle.
- Interest Free Travel Loan – to assist with commuting costs.
- Travel Insurance – business and personal travel.
- Sports and Social – active sports and social committee that organises subsidised events.
Our standard working hours are from 09.30 a.m. to 5.30 p.m. Full time employees are to be in the office for 3 days per week, with 2 days working from home.
Underwriting Technician – 18 Month FTC employer: RiverStone Management Limited
Contact Detail:
RiverStone Management Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Underwriting Technician – 18 Month FTC
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those connected to RiverStone. A friendly chat can open doors that a CV just can't.
✨Tip Number 2
Prepare for interviews by knowing your stuff! Research RiverStone’s recent projects and understand their role in the insurance market. This shows you’re genuinely interested and ready to contribute.
✨Tip Number 3
Practice your communication skills. Whether it’s verbal or written, being clear and confident can set you apart. Try mock interviews with friends or use online resources to sharpen your skills.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take that extra step to connect with us directly.
We think you need these skills to ace Underwriting Technician – 18 Month FTC
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Underwriting Technician role. Highlight relevant experience and skills that match the job description, especially your knowledge of Lloyd’s and non-Lloyd’s insurance practices.
Craft a Compelling Cover Letter: Your cover letter should tell us why you're the perfect fit for this role. Share your passion for the insurance industry and how your background aligns with RiverStone's values and objectives.
Showcase Your Communication Skills: Since strong verbal and written communication skills are key, ensure your application is clear and concise. Use professional language but let your personality shine through!
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 without any hiccups.
How to prepare for a job interview at RiverStone Management Limited
✨Know Your Stuff
Make sure you brush up on your knowledge of Lloyd’s and non-Lloyd’s insurance underwriting practices. Familiarise yourself with the specific responsibilities of the Underwriting Technician role, especially around compliance and reporting. This will show that you're not just interested in the job, but that you understand the industry.
✨Showcase Your Communication Skills
Since strong verbal and written communication skills are crucial for this role, prepare to demonstrate these during the interview. Think of examples where you've effectively communicated complex information or collaborated with others. This will help you stand out as a candidate who can build relationships at all levels.
✨Be Ready for Technical Questions
Expect questions about data management, regulatory requirements, and the specifics of underwriting processes. Brush up on your numeracy skills and be prepared to discuss how you would handle tasks like producing technical balance reports or managing premium estimates. This will show that you’re ready to hit the ground running.
✨Emphasise Your Adaptability
The insurance industry is always changing, so highlight your ability to adapt to new challenges. Share examples of how you've embraced change in previous roles, whether it was learning new software or adjusting to new regulations. This will demonstrate your resilience and willingness to grow within the company.
