At a Glance
- Tasks: Join our team to underwrite and manage financial institution risks while developing your skills.
- Company: SCOR Business Solutions, a leader in the financial services sector.
- Benefits: Competitive salary, professional development, and opportunities for career advancement.
- Other info: Collaborative environment with opportunities to learn from industry experts.
- Why this job: Make an impact in a dynamic role with exposure to diverse financial institutions.
- Qualifications: Experience in underwriting or related roles, strong analytical skills, and excellent communication.
The predicted salary is between 58540 - 71548 £ per year.
We are seeking a motivated and commercially minded individual to join our Financial Institutions (FI) underwriting team. This is an excellent opportunity for an existing underwriter with previous experience in FI, looking to take the next step into a more autonomous and visible underwriting role. The successful candidate will support the underwriting and management of a portfolio of Financial Institutions risks, including banks, asset managers, private equity firms, insurance companies, fintechs, and other financial services businesses. You will work closely with senior underwriters, brokers, and other stakeholders to develop technical underwriting skills while building a strong understanding of the FI market.
Responsibilities
- Underwriting new business and renewals within delegated authority limits.
- Review submissions, financial information, proposal forms, and supporting documentation.
- Attend and actively participate in client and broker meetings.
- Prepare underwriting and pricing analysis for review by senior team members.
- Support portfolio monitoring and exposure management activities.
Broker & Client Relationship Management
- Build and maintain relationships with brokers and key trading partners.
- Attend/host broker meetings, market presentations, and industry events.
- Respond to broker enquiries in a timely and professional manner.
- Support retention of existing business and identification of new opportunities.
Portfolio Management
- Assist in monitoring profitability, rate adequacy, and portfolio performance.
- Maintain accurate underwriting records and systems.
- Ensure compliance with underwriting guidelines, regulatory requirements, and internal controls.
- Contribute to portfolio reviews and underwriting audits.
Team Collaboration
- Work closely with senior underwriters, claims, actuarial, legal, and operations teams.
- Participate in underwriting discussions and referral processes.
- Contribute to continuous improvement initiatives and process enhancement.
Qualifications Required experience & competencies
- Demonstrated underwriting experience as an FI Underwriter.
- Several years experience as either an Underwriter, an Assistant, Broker Technician, Account Executive, or similar role but preferably in Financial Institutions, Financial Lines, Professional Indemnity, D&O, Cyber, Specialty Lines.
- Understanding of underwriting principles and insurance products.
- Strong analytical and numerical skills.
- Excellent communication and relationship-building abilities.
- Highly organised with strong attention to detail.
- Ability to manage multiple priorities in a fast-paced environment.
Competencies
- Cycle Management – Having the ability to manage underwriting decisions and relationships around the market's cyclical nature.
- Commercial Business Acumen – Ability to negotiate profitable business with a structure that works for both client and SCOR.
- Critical Thinking – Ability to assess risks, analyse market trends, and make data-driven underwriting decisions to improve profitability whilst mitigating exposure.
- Negotiation & Persuasion – Ability to support negotiations involving complex policies, ensuring client satisfaction and profitability.
- Entrepreneurial Spirit – Ability to identify new market opportunities, develop innovative products and adapt to emerging risks.
- Intellectual Curiosity – Genuine desire to learn, understand and explore new ideas, concepts and perspectives.
- Emerging Risk Discovery – Focus on identifying and evaluating new risks, monitoring and assessing non-traditional risks, and developing policies to address these risks.
Required Education
- Undergraduate degree or qualified by experience or equivalent.
Underwriter , Financial Lines - SBS (SCOR Business Solutions) in London employer: SCOR
SCOR is an exceptional employer, offering a vibrant and inclusive work culture that fosters collaboration and innovation within its dynamic actuarial team. As an intern in the heart of the Lloyd's of London insurance market, you will gain hands-on experience with cutting-edge modelling tools while working alongside industry experts, ensuring ample opportunities for personal and professional growth. With a commitment to diversity and employee well-being, SCOR not only values your contributions but also supports your development in a meaningful and rewarding environment.
StudySmarter Expert Advice🤫
We think this is how you could land Underwriter , Financial Lines - SBS (SCOR Business Solutions) in London
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like SCOR. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Underwriter , Financial Lines - SBS (SCOR Business Solutions) 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 SCOR.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on SCOR's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at SCOR
✨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 SCOR.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at SCOR 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.
✨Network with Industry Professionals
Before your interview, reach out to current or former SCOR 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.
