Underwriting Analyst

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.  

Please see our website for more information.

Senior Underwriting Operations Analyst

We are currently looking for an Senior Underwriting Operations Analyst to be based in London on a full-time basis, reporting into the Head of Underwriting Operations.

The Senior Underwriting Analyst will be an integral part of the Underwriting Operations team with a focus on owning & overseeing monitoring, reporting, processing controls and operations applicable to the business underwritten in the London Market and International Distribution Companies and managing services being provided by Underwriting Operations.

Jointly with the Head of Underwriting Operations, the Senior Underwriting Analyst will mentor, guide, coach and upskill the team to continually improve the services provided, in particular by implementing state-of-the art reporting technologies, such as Power BI.

Responsibilities: 

• Be responsible for the regular internal and external reporting to support the organisation, including the ownership production and analysis of regular reports and the development and enhancement of reporting tools.
• Own, prepare and review standard and ad-hoc reports and KPIs for internal monitoring, underwriting controls, data quality and management level review.
• Own the end to end process and complete regulatory returns which involve Underwriting Operations, including but not limited to ATIA, GAREAT and PMD. And ensure timely submission to directors for sign-off and the regulators.
• Take ownership of the recording of Employers’ Liability policies on Syndicate systems and the subsequent regulatory reporting to the Employers’ Liability Tracing Office (ELTO) and respond to related queries received and issues identified, developing and enhancing processes where needed. Own the end to end process and manage the ELTO audit(s) throughout the year.
• Creating insights from portfolio of reports with a view to facilitate and lead data-enabled decision making and technical discussion in Underwriting, Operations and the wider business
• Act as system administrator for e-placement platforms and peer review systems (guided by respective Digital Product Owners) and SDC. Manage user access, team set up and any ad-hoc updates.
• Support the creation of test approaches and work closely with the Testing function to ensure end user acceptance.
• Maintain Syndicates policy administration systems. In-depth knowledge of Subscribe/S2000 essential. Manage the operational relationship between AdGo and Munich Re and hold bi-weekly meetings to discuss any queries.
• Engage and develop relationships with underwriting teams to provide onboarding & ongoing training to all staff on underwriting systems and procedures, in order to promulgate best practice throughout MRSG.
• Own, manage & provide response and solutions to underwriting, operations & ELTO, audits by Lloyd’s, external auditors, Internal Audit and the wider Munich Re Group including the preparation and presentation of required underwriting information, and imbedding solutions and process changes.
• Take ownership of creating & maintaining all Individual Authority limits documents on behalf of Munich Re Syndicate Ltd. Regularly monitor any breaches and feedback findings to the Underwriting teams and Senior Management.
• Contribute to any ad-hoc Underwriting Operations and Underwriting Management issues as and when required. Act as advisor to internal teams regarding any ad-hoc Underwriting Operations and Underwriting Management matter.

Knowledge and Skills

• Advanced understanding of the underlying principles of insurance and the Lloyd’s environment, including Lloyd’s Principles, general Underwriting Principles, guidelines and regulations and the workings of a managing agent.
• Experience as an Underwriter or part of Underwriting, ideally in the Lloyd’s market, with sound knowledge of Underwriting processes and practices.
• Sound understanding of commercial and specialty insurance markets and insurance operations, including Lloyd’s.
• Excellent organisational, multi-tasking and time management skills.
• Strong analytical and problem-solving skills and ability to translate into impactful recommendations.
• Ability to work in a fast-paced environment, accommodate multiple priorities, meet deadlines, plan resources and be adaptive to change.
• Comprehensive understanding of the regulatory environment in which the business operates and understanding of the dynamics of large organisations.
• Ability to work under pressure and be flexible when necessary, prioritising tasks, resource planning and meeting deadlines.
• Solution focused, with a strong focus on delivery, and desire for continuous improvement.
• Mentor, guide, support and coach other team members.
• Familiarity with implementing, maintaining and developing state-of-the-art reporting technologies such as Power BI, data analytics capabilities and reporting process automation.
• Use of communication skills, both written and verbal reporting and presentation, that are both effective and meet business needs.
• Excellent degree of attention to detail and accuracy.

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! 

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

#BePresent #BeBold #BeCurious