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Job Details
Contact Info
Tony Martin tmartin@massenhove.co.uk 01621 786 220Credit Risk Underwriter
Job Description
Company:
My client delivers insurance and reinsurance underwriting expertise to international and UK provincial markets.
The classes of business my client covers includes and direct property and property reinsurance, international casualty, aviation reinsurance, marine liability, hull, cargo and war, energy, fine art and specie, credit and political risk, terrorism, medical malpractice, financial institutions, professional indemnity, management liability, direct liability, UK international
The classes of business my client covers includes and direct property and property reinsurance, international casualty, aviation reinsurance, marine liability, hull, cargo and war, energy, fine art and specie, credit and political risk, terrorism, medical malpractice, financial institutions, professional indemnity, management liability, direct liability, UK international
Purpose of Job:
To provide expert analysis of the credit risk in relation to enquiries from policyholders & generally managing the risk exposure of the portfolio to achieve an acceptable loss ratio.
Main Tasks:
Monitor the limits in appeal on the Company system & respond within a maximum of 5 working days.
Update notes section on the Company system with relevant information, particularly for policy or customer overrides, limit cancellations etc.
Assess credit limit requests on the basis of all the relevant information available & action those within individual authority level & refer on recommendations for those above the authority level at all times in accordance with the Company Underwriting Authority Template.
Review monitoring alerts on a daily basis. Communicate with policyholders/ brokers regarding credit limit decisions, reasons for nil limit cancellations etc.
Progress limit reviews as requested by the Director of Risk, other directors or underwriting manager & communicate limit changes via the broker.
Create reports on Buyers, Buyer Groups, Countries and Trade Sectors for presentation to Company personnel as required.
To monitor overdue on the Company system and take appropriate action and to respond to requests for payment re-scheduling with consultation with MD where appropriate.
Manage a portfolio of clients, understanding both the nature of their trade and that of their customers to enable accurate limit underwriting of the risk.
Conduct full IRS reviews both pre and post renewal and effect any necessary limit changes.
Contact risks for more up to date information & to visit buyers where requested & produce a subsequent report.
Maintain a broad knowledge of the UK economy & more generally the European & global economy.
Monitor the FT on a regular basis e.g.
Businesses for sale and other appropriate financial information sources.
Research background information as required e.g.
Company accounts, Reuters, company web-sites, S&P ratings, etc.
Review and make recommendations to UW Manager where aggregate exposure on buyer or group exceeds £3,000,000.
To attend and contribute to the monthly Credit Committee meetings and act on decisions made and agreed upon in that meeting.
Update notes section on the Company system with relevant information, particularly for policy or customer overrides, limit cancellations etc.
Assess credit limit requests on the basis of all the relevant information available & action those within individual authority level & refer on recommendations for those above the authority level at all times in accordance with the Company Underwriting Authority Template.
Review monitoring alerts on a daily basis. Communicate with policyholders/ brokers regarding credit limit decisions, reasons for nil limit cancellations etc.
Progress limit reviews as requested by the Director of Risk, other directors or underwriting manager & communicate limit changes via the broker.
Create reports on Buyers, Buyer Groups, Countries and Trade Sectors for presentation to Company personnel as required.
To monitor overdue on the Company system and take appropriate action and to respond to requests for payment re-scheduling with consultation with MD where appropriate.
Manage a portfolio of clients, understanding both the nature of their trade and that of their customers to enable accurate limit underwriting of the risk.
Conduct full IRS reviews both pre and post renewal and effect any necessary limit changes.
Contact risks for more up to date information & to visit buyers where requested & produce a subsequent report.
Maintain a broad knowledge of the UK economy & more generally the European & global economy.
Monitor the FT on a regular basis e.g.
Businesses for sale and other appropriate financial information sources.
Research background information as required e.g.
Company accounts, Reuters, company web-sites, S&P ratings, etc.
Review and make recommendations to UW Manager where aggregate exposure on buyer or group exceeds £3,000,000.
To attend and contribute to the monthly Credit Committee meetings and act on decisions made and agreed upon in that meeting.
Levels of Authority:
As set out in the Group Underwriting, Reinsurance Purchase and Claims Authority Matrix.
Core Competencies:
Knowledge and Skill Level Required.
Background:
Knowledge of Company History, Credit Insurance and Knowledge of Lloyd’s
Technical Knowledge:
Balance sheet analysis Insolvency practices & implications to Company clients Binding Contracts Non standard payment terms (Bills / LC’s etc).
Export Country ratings and terms of payment.
General understanding of Company policies.
Understanding of Company Insurance Binder parameters.
Understanding of Data Provider ratings.
Export Country ratings and terms of payment.
General understanding of Company policies.
Understanding of Company Insurance Binder parameters.
Understanding of Data Provider ratings.
I.T Skills:
Outlook
Company on-line system.
Excel.
Word.
Internet.
Company on-line system.
Excel.
Word.
Internet.
Interpersonal Skills:
Written communication.
Verbal communication.
Problem solving.
Building relationships.
Questioning and listening skills.
Business report writing.
Telephone skills.
Analytical skills.
Negotiating skills.
Verbal communication.
Problem solving.
Building relationships.
Questioning and listening skills.
Business report writing.
Telephone skills.
Analytical skills.
Negotiating skills.
Details
MRL640 Full Time City / London Permanent Position £50,000Apply for this job
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