Job Description
Country: United Kingdom of Great Britain and Northern Ireland
Creation Date: 14-Mar-2024
Employment Type: Permanent
Employment Type: Full time
Ref #: 1234570722
Description & Requirements
Division: Energy London Markets
Team: Power & Renewables
Location: London
Type: Permanent
About the Role:
Reporting into the Head of Energy London Markets, the Senior Underwriter will be an established underwriter in the market with strong broker relationships and client relationships. They may be already operating at Senior Underwriter level or seeking a new opportunity where they can make the next step up in their career. Experience in leading or shaping placements is a distinct advantage. The successful candidate should be confident to represent LSM and our values in all interactions with clients and brokers.
This role is responsible for supporting in the strategic decision-making and growth of the power generation and renewable energy accounts including both operational and renewable energy construction risks (solar/wind/BESS) as well as expand into other sectors, including but not limited to offshore wind.
The role requires interacting with members of the wider energy & construction teams as well as other underwriting divisions such as marine cargo and casualty, claims, actuarial and exposure management.
About the Department & Team:
The Power & Renewables division is a growing area of the Energy department with renewable energy becoming a key focus area. LSM has a long-term objective to be a leading insurer in the transition from fossil fuel to renewables and clean energy sources supporting both existing energy and utility companies and new renewable energy enterprises.
· Support the development of the business plan for the Underwriting division and ensure delivery of the plan in accordance with stated risk tolerances
· Ensure the team’s awareness of the business plan and its context so that they are able to take appropriate action and make informed decisions
· Contribute and participate in all meetings in order to share and develop strategy, knowledge and best practice
· Contribute new ideas and concepts to support the development and delivery of the business plan
Delivery
· Establish and strengthen relationships with brokers, industry bodies, business partners, reinsurers and colleagues, to maximise influence and achieve business objectives
· Demonstrate understanding and awareness of market dynamics and market cycles to drive and enhance business performance
· Continually develop expertise and technical knowledge through appropriate development initiatives
· Underwrite insurance risks in accordance with the business plan and personal authority to meet business objectives, including:
· Negotiating rates, terms and conditions for existing and new business
· Compliance with the production and issue of documentation in accordance with contract certainty requirements
· Contribute and influence in the review and analysis of the portfolio, to identify progress towards business objectives
· Ensure entries are properly recorded onto relevant systems in a timely manner whilst ensuring accuracy of data with relation to both underwriting and aggregate exposures
Policy, Process and Procedures
· Compliance with all applicable internal and external laws, regulations, policies, procedures and guidance
· Adhere to underwriting standards, instructions and best practice methodology in order to minimise risk
· Apply any reinsurance requirements in accordance with stated risk tolerances and to deliver against business plan
· Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules ,Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.
People Management
· Manage resources across the team to ensure business requirements are achieved
· Motivate and develop the team by demonstrating good leadership behaviours and management best practice
· Manage performance in accordance with the company’s performance process
Skills and Experience:
· Extensive experience in underwriting for specific class/portfolio
· knowledge of relevant market conditions for specific class/portfolio
· Solid understanding of legal and regulatory requirements
· Detailed understanding of class specific underwriting and reinsurance knowledge
· Understanding of relevant software including Excel and other departmental software packages
· Strong level of numeracy and literacy skills
· Strong interpersonal and communication skills
· Strong analytical skills
· Strong organisational and prioritisation skills
· Ability to analyse and use data for decision making
· Strong attention to detail
· People management – ability to engage and lead a team
· Significant experience gained within the insurance industry
· Use of risk profiling and pricing tools and loss models
· Strong established customer/broker relationships
· Strong skills in wordings and legal/appetite/exposure implications
About Liberty Specialty Markets (LSM):
Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
· Offering a vibrant and inclusive environment and committing to their career development.
· Promoting diversity, equity and inclusion (DEI). OurInclusion Matters frameworkand employee-led networks strengthen the diversity of our workforce and our inclusive environment.
· Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
· A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
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