- Understand and support the due diligence process of coverholder on-boarding and binding authority reviews adhering to Munich Re Delegated Underwriting process in the various classes of business underwritten.
- Using Lloyd's Atlas, Crystal and other processes and systems, assess key due diligence documentation, e.g. CVs, PI/E&O insurers, UK and international trading licences, financial crime and other business procedures, liaising with the DU Analysts and escalating issues for further review.
- Support the DU Analysts with binding authority reviews, e.g. pre-bind quality assurance (PBQA), liaising with Munich Re stakeholders to ensure processes are undertaken in a timely fashion and feedback is dealt with as required.
- Maintain accurate DU records, including completing Coverholder and Binding Authorities entries in MRS dedicated tools (Subscribe and MASSDA) and Lloyd's (DCOM) and undertaking quality control of the underwriting teams' entries on a weekly and monthly basis.
- Support and assist the DU team with reporting and development initiatives.
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
- Understand all appropriate lines of escalation and the responsibilities of Conduct governance within MRSL.
- Support the process and structure that upholds the requirements set out in the Lloyd's Conduct Risk Minimum Standards and Complaints Principles.
- You are required to comply with the PRA and FCA conduct rules.
- Basic business knowledge and understanding of :Lloyd's delegated underwriting tools, e.g. Atlas, DCOM and future developments Underlying principles of Delegated Underwriting, Lloyd's market practices and rules specifically relating to DU
- Demonstrate clear understanding of all company specific procedures that relate to own role
- Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and operation of the department and wider organisation
- Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation
- Demonstrate high degree of attention to detail and accuracy and use of relevant reporting tools
- Ability to manage own workload and to work both supportively and jointly with colleagues
- Ability to work under pressure and flexibly when necessary, prioritising tasks, resource planning and meeting deadlines
- Use of communication skills, both written and verbal reporting and presentation, that are both effective and meet business needs
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Delegated Underwriting Assistant - London, United Kingdom - Munich Re Specialty Group
Description
The Role
Key Skills & Experience
Knowledge
Skills
Your career with us
At MRSG, you'll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more