Underwriter, Political Risk, Credit Specialist

4 days ago


Sydney, New South Wales, Australia XL CATLIN Full time

Job Title: Underwriter, Political Risk, Credit Specialist

About the Role:

We are seeking an experienced Underwriter, Political Risk, Credit Specialist to join our team at XL CATLIN. As an Underwriter, you will play a critical role in delivering a profitable 'Underwriting' service to our clients. Your key responsibilities will include:

  • Underwriting business within the agreed business plan and individual authority.
  • Supporting the business planning and forecasting process.
  • Monitoring financial exposure within outlined limits.
  • Monitoring premium income to ensure it remains within set limits.
  • Maintaining awareness of all claims advised while supporting and providing input on settlement of claims.
  • Ensuring adequate reinsurance acquired to cover specific risks.
  • Building and maintaining relationships with brokers and clients.
  • Supporting the design and structure of risks.

Key Responsibilities:

As an Underwriter, Political Risk, Credit Specialist, you will be responsible for:

  • Reviewing complex submissions including applications, policy wording, inspection reports, loss runs, and financial reports while conducting appropriate research to determine degree of risk for each account.
  • Determining and negotiating appropriate risk premium by considering the risk costs inherent to the respective sector, reinsurance cessions as well as the Underwriting and general administration costs while ensuring profitability.
  • Making informed underwriting decisions based on sound risk analysis and due diligence, negotiating policy terms and closing transactions that fall within target risk appetite.
  • Building and managing effective relationships with customers and brokers across Australia and Asia regions, maintaining regular contact and providing high levels of customer service to develop new business opportunities.
  • Proactively advising, assisting, servicing, and following up with clients on insurance and risk management matters to ensure satisfaction and fulfillment of their insurance requirements.
  • Effective relationship management to initiate opportunities for cross-selling offered products and ensuring account retention.
  • Supporting the business planning and forecasting process; monitoring financial exposure within outlined limits; monitoring premium income to ensure it remains within set limits.
  • Maintaining awareness of all claims advised while supporting and providing input on settlement of claims.
  • Working collaboratively in a team environment, assisting underwriters, underwriting assistants, and management team.

Requirements:

To be successful in this role, you will need:

  • Bachelor's Degree preferred and equivalent experience in the relevant class of business; ideally some knowledge of trade finance and structured banking products.
  • Ability to read and analyze financial statements (balance sheet, profit and loss, and cashflow statements).
  • Use judgment to identify and solve day-to-day problems in straightforward situations.
  • Marketing - Effectively plan for sales and business development.
  • Negotiation/Sales - Plan, structure and conduct negotiations with brokers and/or clients.
  • Analytical Skills – Visualize, gather information, articulate, analyze and solve complex problems.
  • Interpersonal Savvy – Build excellent interpersonal relationships with brokers, clients & colleagues.
  • Strategy and Planning - Make underwriting decisions to fulfill business strategic plan and deliver results.
  • Industry Knowledge - Understanding of the insurance industry and specific product portfolios.

About XL CATLIN:

XL CATLIN, the P&C and specialty risk division of AXA, is known for solving complex risks. We provide re/insurance, reinventing it through a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent.

XL CATLIN is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.



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