Underwriting Risk Manager
Company: Tony Martin Job Ref: TMTURMan Start Date: ASAP Hours: Full Time Working Term: Permanent Position Salary: Negotiable
Description:Underwriting Risk Manager
Job Market - Insurance
Underwriting Risk Manager - About the role
To provide an independent assessment of the risks presented to the company arising out of its underwriting operations
To work with the Risk Officer to identify and evaluate risks arising out of the day to day handling of underwriting which affect the finances, operations or reputation of the company and to make appropriate recommendations for the elimination control or transfer of those risks
To undertake periodic audits of the company’s own delegated underwriting functions to ensure they are following the prescribed processes, working within the agreed risk appetite and that the risk controls are working effectively
To validate the underwriting controls and to monitor these to ensure they remain appropriate and adequate.
To complete an annual self-certification of compliance with the requisite risk policies and controls in operation.
Ensuring relevant events are reported to the Risk Officer and are recorded in the events log, root cause analysis is carried out and a solution appropriate to the magnitude of the event is implemented
To promote risk awareness in such a way that it becomes embedded in the culture of the organisation
Take a methodical approach and has a keen eye for detail
Align the necessity for a robust risk management framework with the operational needs of the business
Design and implement an audit and reporting programme working to agreed deadlines
Ad hoc or additional:
The above represents the key areas of responsibility within your role, however you may be required to cover additional duties as and when required.
Underwriting Risk Manager - Key requirements
ACII or other relevant professional qualification preferred
At least 5 years working in an underwriting environment preferably with some auditing or quality assurance responsibility.
A good understanding of how to identify risks and the methodologies used to assess their impact on the business.
Knowledge of the regulatory and compliance legislation which governs the conduct of insurance business
An understanding of the three lines of defence model as part of Solvency II