Underwriting Assistant: Financial Risk Solutions - London, United Kingdom - Liberty Specialty Markets

Liberty Specialty Markets

Verified Company

London, United Kingdom

2 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

General information:

City:
London, UK

Country:
United Kingdom of Great Britain and Northern Ireland

Creation Date:12-Jul-2023

Employment Type:
Permanent

Employment Type:
Full time

Ref #:

Description & Requirements:

Role Title:

Underwriting Assistant**
Division:Business Support**
Department:Operations**
Location:London**
Type:Permanent**
About the Role:This underwriting assistant will support numerous lines of business within Financial Risk Solutions - including Trade Credit, Political Risk, Non-payment insurance and Structured Risk Solutions insurance.

The underwriting assistant role within operations at LSM is an administrative role and is the first link for the underwriting teams into business support.

The primary objective is to ensure risks and any amendments to those risks written by the underwriting teams are processed onto the system in an accurate and timely manner.

The ability to effectively communicate with many teams across LSM and prioritise work according to various system close dates, SLAs and KPIs is a fundamental attribute required to fulfil the role.

About the Department & Team:

Underwriting Support is a team in the business support division which sits within the wider operations department.

As a team we ensure our offshore colleagues are provided all the information required to accurately process premiums onto our policy admin systems within the agreed SLAs.

Supporting the underwriting teams in general administration of the policy file, reporting, operational process advice and guidance and other ad-hoc requirements also forms an important part of the role the team plays within the business.

We also work very closely with the cash and credit control functions to ensure any issues or queries relating to payments are investigated and actioned accordingly.

The operations department also comprises divisions such as MI and analytics, claims operations, facilities, strategic operations and IT.

Data timeliness, quality and accuracy are at the heart of our core responsibilities and processes and together we provide effective support services to the whole business enabling LSM to meet its revenue, growth and other strategic goals.

Key Responsibilities:

Documentation & Risk Administration:

Accurate and timely creation/update of documentation required to process submissions, policies and policy updates onto the processing systems for both syndicate & company risks. These include but are not limited to frontsheets and raters.
Liaise with underwriting teams to ensure all required information has been provided for entry onto the processing documentation.
Passes the fully completed processing documentation onto our offshore processing partners within SLA for entry onto the systems.
For Company risks ensure a 4eye check is completed on the financial information entered by our offshore processing partners and responds for either sign off or requesting correction.
Responds to queries from the offshore processing partners and/or QC team within SLA.
Ensure documentation is filed according to the teams prescribed filing structure.
Respond positively when data quality issues are identified within your work and takes corrective actions in timely manner.
Assist in the resolution of all transactional data management issues within SLAs.
Ensure regular weekly work is carried out resolving any unallocated cash and outstanding debt queries and investigations.
Support various month close procedures as directed.
Investigate any items on team monitoring reports sent by underwriting support management and respond accordingly in a timely manner.

Communication:

Inform underwriting support management and underwriting teams of any potential backlogs or buildup of work as required.
Keeps underwriting support management and underwriting teams up to date with progress against SLAs and KPIs weekly.
Ensure all queries are responded to within 3 days of receipt, if no resolution then advise query originator of the delay.
Actively participate in team meetings and 1:1 catch ups with team mangers.

Ancillary Tasks & Teamwork:

Assist with any audit activities as required.
Work with underwriting support management to ensure any training materials either internal or for our offshore processing partners is up to date and contains the correct information.
Train members of the offshore processing team, new starters and other support teams as and when required.
Work with a continuous improvement mindset and raise any possibilities for improvement to our processes to underwriting support management.
Assist and support the team on ad hoc tasks and projects or other duties as reasonably requested.
Contribute to system and process change activities as directed by Underwriting Support Management.

Stakeholder Management: