Underwriting Operations Manager

Role – Underwriting Operations Manager
Contract – Permanent
Salary – $150,000 – $165,000
Location – Bermuda

Purpose of the Job

Responsible for the operational performance, with a particular focus on underwriting, portfolio management and claims. To achieve this, the Underwriting Operations Manager will work in conjunction with the CUO supporting the underwriting operations of the group Portfolio Manager supporting the underwriting operations; and the Finance and Operations Director on the broader operational platform.

Reporting to the Finance and Operations Director, the role will also provide general project management across all platforms and be instrumental in the ongoing development work and change initiatives.

Principal Accountabilities:

Operational Development

Support development of the organisations platform, to include:

• Responsibility for developing new processes as the business develops
• Portfolio management and system development / implementation
• Review and improve existing processes, automating where possible
• Working with the Group, establish effective operations and processes
• Ensure smooth operation of existing processes, ensuring appropriate controls are in place and operating as required and undertake compliance testing.
• Due diligence process including maintenance of a data room

Provide underwriting support where required. This to include:

• Monitoring – to take responsibility for monitoring the underwriting portfolio ensuring adherence to agreed target business levels, financial limits, historical claims patterns and underwriting controls. To report any deviance from such to the CUO
• Liaise and co-operate with underwriters, actuaries and claims staff within the Group to support underwriting.
• Key Relationships – maintain key relationships in conjunction with the CUO.
• Controls – establish and maintain internal controls and all procedures relating to underwriting. Ensure that business is being carried out within underwriting authority
• Claims – to review the recommendations made by the claims service provider with regard to claims made on the portfolio and to assist with the administration, reporting and control of such.
• Reinsurance and Trust agreements – wordings and execution
• Provide underwriting support where required, including supporting administration of policy documents
• Claims – to review the recommendations made by the claims service provider with regard to claims made on the portfolio and to assist with the administration, reporting and control of such.

Operational Support

• Collateral and cash flow management supporting underwriting
• Provide support for the preparation and minuting of Board and committee meetings
• Underwriting compliance
• Recording & Reporting – responsible for the appropriate recording and reporting of risk premiums, claims exposures and aggregates so as to enable accurate and timely provision of all relevant information to the board and regulatory bodies
• Regulatory – ensure that all risks are written within Bermuda Monetary Authority licence and regulatory and internal guidelines
• Review all risks to ensure ‘four eyes’ principle is upheld at all times
• Client and risk files all kept in order
• Input of risks into underwriting systems – timely and accurately.
• Regulatory Conduct Rules

• Act with integrity.
• Act with due skill, care and diligence.
• Be open and co-operative with Lloyd’s, the FCA, the PRA, and other regulators.
• Pay due regard to the interests of customers and treat them fairly.
• Observe proper standards of market conduct.

Education, Qualifications, Knowledge, Skills and Experience

• Proven track record of operating at a senior level across an insurance organisation applying rigorous underwriting, financial and risk disciplines and achieving buy-in with high standards of delivery in a timely, cost effective way.
• Ability to communicate complex concepts to a variety of audiences and influence senior management
• Recognised Professional Qualification
• Able to credibly contribute to strategic discussions at Board level
• Strong project management skills
• Strong financial analysis skills
• Good computer skills particularly Microsoft Office
• Good report writing, analytical and effective problem solving skills
• Ability to work both independently and in a team environment

Contact:-

London: +44 203 411 8430

Email: admin@lawesgroup.co.uk