Charles Taylor plc is a global leading provider of professional services to the insurance industry. The group manages mutual insurance companies, provides specialist loss adjusting services, has recently set up a Lloyd’s Managing Agency and syndicate and is a provider of a diverse range of outsourced management and technical insurance services for the global market.
Charles Taylor currently employs over 1700 staff working in over 71 offices in 28 countries worldwide. In London we employ approximately 600 staff working across 3 offices in Central London. We are a profitable, growing organisation that is highly regarded in the insurance industry as a top tier provider of professional services, employing some of the industry’s ‘best in class’ professionals and technical experts. Our delivery of high quality, individually tailored services to our clients is backed by our core values of excellence, partnership, quality and support, and we look for employees to join us who exemplify these values and our ethos.
Ensuring the underwriting management methodology meets the requirements of Lloyd’s minimum underwriting standards and that of Charles Taylor. Ensuring appropriate underwriting controls and activities are followed through the use of reporting, analysis and operational meetings, monitoring:
- Syndicate's annual business plan and underwriting policy
- Underwriters’ terms of reference, authorities and pricing policy
- Reinsurance arrangements
- Requirements to achieve Pre-Bind Quality Assurance (PBQA), including Contract Certainty
External regulatory requirements
- Defining, developing, implementing and monitoring underwriting controls across all classes of business, regularly updating controls to reflect changes in areas of focus and interest
- Ensuring business is underwritten in adherence to Lloyd’s minimum standards, company, lob and syndicate business plans, underwriting guidelines and authorities
- Ensure appropriate and up to date underwriting guidelines and underwriting authorities are in place
- Monitoring accuracy and completeness of data entry, ensuring adherence to requirements for pre-bind quality assurance (“PBQA”), including contract certainty
- Developing a means of measuring the performance of underwriting controls, validating that the necessary data is captured and that the appropriate controls exist within the risk recording systems and business process to facilitate accurate and timely capture and, together with the chief risk officer, assisting the business in defining new controls on an on-going basis
- Ensuring the business appropriately responds to identified results, including testing benchmark pricing, rate changes, slip review and other portfolio analysis and exception reporting to confirm business is being written inside plan
- Ensuring that that underwriting decisions are the subject of an appropriate peer review process and that the results of this process are well documented and reported as necessary
- Managing underwriting returns to Lloyd’s including performance management data
- In conjunction with the chief risk officer, regularly assessing, analysing and reviewing the effectiveness and operation of underwriting controls and risk management practices
- Reporting to senior management as and when necessary
- Working with the delegated underwriting team to ensure effective monitoring and control of delegated business
- Ensure appropriate risk and governance frameworks are in place and maintained, providing ad hoc advice and support
- Perform periodic internal audits of underwriting decisions
- Liaise with and provide support to the internal auditors
- Maintain a central register of all underwriting authority limits
- Keeping abreast of all regulatory changes that impact the risk management function
- Ensuring that the underwriting guidelines are applicable to the law and the guidelines of regulators
Financial planning & control
- Contribute to the preparation of the company strategic plan
- Assist in the preparation of the annual budget and forecasts
- Manage the production of annual business plans including Lloyd’s syndicate business forecast
Ad Hoc Duties
Your key accountabilities will include such other duties and tasks are as allocated to you at the discretion of management and that are within your capabilities and within the scope of your post.
Required Knowledge and Qualifications
- Degree level education, or equivalent substantial work experience
- Significant amount of experience working on multiple lines of business in one or more of the following capacities: syndicate manager or underwriter; underwriting risk manager; or regulator (e.g. Lloyd’s Franchise Performance Directorate or the UK Financial Services Authority).
- Proven track record in building processes and determining and delivering opportunities for improvement in an underwriting environment.
- Evident high level of communication skills, with the ability explains complex issues clearly and succinctly – including confident presentation style
- Ability to build strong working relationships and effective networks (internal and external); with highly developed negotiation and influencing skills used to successfully interact with senior management/colleagues/external suppliers.
- Relevant professional qualification (underwriting, claims, broking risk management qualification or Actuary, MBA, Chartered Accountant, ACII)
- In conjunction with the HR Department, to recruit the ‘right people, for the right jobs at the right time’.
- To conduct regular and timely performance reviews including setting objectives, reviewing progress, identifying training needs and career objectives.
- To mentor and develop staff, ensuring training needs are fulfilled including ensuring new employees receive all necessary induction training promptly.
- To build a motivated, supportive and effective team environment, including ensuring departmental workloads are well-planned and that staff are not overloaded or under-utilised.
- To deal promptly with grievance and disciplinary issues, in conjunction with the HR Department.
- To ensure staff maintain a high level of customer focus at all times and provide a high quality product/service to clients (internal and external) at all times.
- To ensure staff are kept informed of corporate policy, business strategy and other relevant information and their staff conform to company policies and procedures, e.g. Employee Handbook, and time recording systems etc.
- To ensure the health and safety of all staff.