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Form of work
SalaryAbout us
Avencia Consulting are recruiting on behalf of a leading Reinsurance firm based in the City, who are looking to hire an Underwriting Portfolio Analyst to join.
The role
This role will be an essential part of the Underwriting department, reporting to the Group/FUL Chief Underwriting Officer. The role of the Underwriting Governance and Portfolio Analyst is to support the Group/FUL CUO and the CUO team in managing a scalable underwriting governance framework in an publicly listed SEC reporting environment, providing process and governance assurance to the CUO team, and providing support with commercial and strategy portfolio analysis as required. This is a new team and the role holder will be expected to contribute to cultural, strategic and technical development.
Key accountabilities
- Monitor adherence to underwriting principles and governance frameworks, primarily relating to delegated underwriting authorities and associated outsourcing arrangements, as well as outwards reinsurance, ensuring our frameworks are best in class.
- Work with our business partners to drive adherence to KPIs/SLAs and key binder metrics, including premium limits, exposure limits and reporting deliverables.
- Maintain underwriting process definition and associated documentation, ensuring it reflects the current business environment.
- Contribute to the production of Committee and Board papers, as well as maintenance of ToRs, ensuring committees are properly constituted and targeted.
- Play a key role in reviewing and evaluating the annual business plan, ensuring that underwriting and outwards RI plans proposed by our trading partners align with our risk appetite and business objectives, and are captured appropriately in the binder framework agreement(s).
- Contribute to the production of commercial strategic analysis to facilitate and enable effective Executive strategy discussion, reflection and oversight including production of Board papers, as well as automation of regular reports run from databases as appropriate.
- Provide support to the CUO team by providing clear evaluation of new business proposals or material changes to plan against current and future binder or provision of services agreements.
- Assist with execution of strategic initiatives that add value to the business including undertaking due diligence on potential future trading partners to support growth.
- Establish and maintain strong working relationships with all relevant stakeholders across the company and its trading partners.
- Work collaboratively across the company to embed the target culture and operating model, and to ensure cross functional understanding of our strategic objectives.
- Support the Underwriting department and wider IG on an ad hoc basis as required.
Skills & experience
- Significant experience in the global specialty (re)insurance sector essential, knowledge of listed insurance groups an advantage
- 5+ years' experience working within an Insurance company in an underwriting role. Underwriting governance or controls experience required. Some legal, compliance, finance or internal audit experience a benefit.
- Multi-class experience desirable, in particular specialty insurance lines and property RI.
- Strong stakeholder management and relationship building skills - ability to operate in an international environment essential
- Curious and proactive, comfortable working in a dynamic, fast-paced environment requiring initiative
- Quality focussed, attention to detail and ability to identify and resolve issues
- Understanding of administration of whole account RI or multi-class programs/DUA business desirable
- Strong written and analytical skills, ability to investigate issues and read and understand insurance contracts and associated legal documents.
- CII qualifications desirable
