Senior Underwriter, Cyber Liability

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Recruitment Advisor- UK Regions at Arch Insurance (UK) Limited

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.

Role Summary and Purpose

Senior Underwriter is responsible for underwriting all new and existing portfolio of business within set underwriting guidelines, authority levels and service standards. Senior Underwriter is also responsible for mentoring and developing Underwriters and reporting to senior management.

Senior Underwriter is responsible for maintaining a professional approach in all internal and external stakeholder interactions, managing effective, efficient, compliant and profitable underwriting for Arch Insurance under dedicated portfolio/ product, developing new and current broker relationships, supports the team by providing timely and accurate reporting.

Key Tasks And Responsibilities

• Underwrite within limitations of company policy and in accordance with underwriting standards, and work closely with the manager in delivering business income and ROC profitability targets.
• Maintain ongoing liaison with brokers to obtain supplemental underwriting information, evaluate risks, decline risks, analyse and interpret coverage, explain underwriting requirements and expectations, and present terms.
• Determine the desirability of accepting or rejecting business risks. Prices exposures in accordance with filed and approved rate levels, discretionary pricing mechanisms, and business unit guidelines.
• Prepare reports on portfolio performance and maintaining credit control of business within the portfolio.
• Participate in audits, Peer Review Process, and any other compliance requirements.
• Ensure all documentation is accurate and complete and conforms with organisational guidelines.
• Work with other stakeholders to maximise underwriting opportunities, minimise expenses and achieve operations and service targets.
• Underwrite Cyber Liability and Technology PI products in accordance with Arch Guidelines to ensure profitability and provide a positive contribution to tangible book value for Arch.
• Write clear and thorough underwriting risk management reviews and notes, with close attention to detail and follow referral process, presenting opportunities accurately and in a timely manner.
• Maintain and develop key broker relationships through consistent visitation, ensuring that customer service is provided on high level.
• Provide timely service of requests and ensure administration of tasks in timely manner.
• Develop and execute new business opportunities interacting with existing and new brokers. This includes a systematic approach to broker networking.
• Work with Senior Underwriters and Management on future product development.
• Assist with implementation of distribution strategy with other profit centres and identify any cross-sell opportunities.
• Comply with relevant laws and regulations, industry codes and Arch organisation standards.
• Apply efficient, effective, and sound underwriting practices to new business, mid-term alterations and renewal management.
• Process and document issuance of new business, renewals and endorsements ensuring all interactions are performed in an efficient & effective manner adhering to the required processes for each transaction type.
• Ensure that all relevant correspondence is saved on to relevant systems and that underwriting notes and thought processes and rating are clearly detailed in the underwriting notes section.
• Respond to enquiries/requests (such as certificates of currency) from the brokers within agreed service standards.
• Ensure reporting spreadsheets are up to date.
• Business development management, portfolio performance and profitability.
• Develop productive long-term relationships with external stakeholders.
• Contribute and execute of Underwriting Strategy.
• Act as Underwriters' referral point.
• Is expected to travel as required by the business.
  
  

Senior team member responsibilities:

• Assist the manager in supervising team members in dedicated team by providing training, guidance, mentoring; assist in providing feedback.
• Support the manager in overseeing work of junior roles.
• Act as a local leader, being a role model and by providing guidance to the team members
  
  

General responsibilities:

• Collaborate effectively with other business units.
• Adhere to company's policies, procedures and local guidance as well as to the legislation.
• Other reasonable duties as directed by the business, within the scope of the role.
  
  

Experience

Role Requirements & Skills

• 5-10 years of experience working in the financial services, in a cyber underwriting position, with knowledge in legislative framework and technical cyber risk management controls.
• Demonstrable ability to grow a profitable portfolio.
• Demonstrated competences in maintaining broker/ client relationship.
  
  

Qualifications

• Tertiary qualifications - desirable but not essential.
  
  

Skills / Competencies

• Demonstrate a proven ability to communicate effectively both verbally and in writing.
• Ability to develop and maintain effective relationships with internal and external stakeholders, including brokers and clients.Proficient in Microsoft Office Software (Word, Excel, Powerpoint).
• An organised and methodical approach to working practices and meet deadlines.
• Extensive knowledge of the Australian insurance regulatory and compliance environment.
• Sound technical and analytical skills with the ability to prioritise while maintaining an attention to detail.
• Enthusiasm and a desire to learn and contribute as part of a team, with the ability to work autonomously when required.
• Active market presence and strong negotiation skills.
• Ability to provide a high level of service to external stakeholders.
• Ability to find solutions to complex underwriting problems within defined guidelines.
• Strong interpersonal and leadership skills demonstrating an ability to teach, influence and motivate others.
• Problem solving, negotiation & decision making.
• Demonstrable knowledge of cyber products and underwriting practices, and market dynamics.
• Strong technical understanding of cyber risk management.
  
  

Do you like solving complex business problems, working with talented colleagues and have an innovative mindset? Arch may be a great fit for you. If this job isn't the right fit but you're interested in working for Arch, create a job alert Simply create an account and opt in to receive emails when we have job openings that meet your criteria. Join our talent community to share your preferences directly with Arch's Talent Acquisition team.

16200 Arch Underwriting at Lloyd's (Australia) Pty LtdSeniority level

• Seniority levelMid-Senior level

Employment type

• Employment typeFull-time

Job function

• Job functionFinance and Sales
• IndustriesInsurance

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