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Job Title: Underwriter and Credit Analyst - Political Risk & Trade Credit
Division: Political, Accident & Contingency (PAC))
Location: Singapore
Reports To: Singapore based senior Underwriter - Political Risk & Trade Credit
Key Relationships: Brokers, underwriters, claims staff, coverholders, external clients and suppliers
Job Summary
To underwrite a Political Risk & Trade Credit account within the PAC team and to perform analytical project work for the Political Risks team. Provide technical expertise in this business area and maintain and improve market reputation of the Beazley brand.
Key Responsibilities
Underwriting and Analytical Support
- Assist the Political Risks team with the due diligence process on individual submissions.
- Analyse company financials.
- Perform general Political Risks country, industry and sector research.
- Develop and underwrite a profitable portfolio of Political Risk & Trade Credit business as part of the PAC team.
- Structure tailor-made solutions by considering the team underwriting parameters and underwriting policy and using underwriting knowledge and experience to win new business and retain existing.
- Monitor premiums, costs and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
- Evaluate appropriate risk premium by considering the risk costs, reinsurance cessions, capital exposure as well as the underwriting and general administration costs to ensure profitability, using rating models as applicable.
- Monitor peer underwriters in their daily work to ensure profitability as well as efficient and cost effective administration of the Political Risk & Trade Credit account.
- Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and PAC.
- Comply with Beazleys underwriting control standards for business written through Lloyds, or Beazleys internal MGAs.
- Develop a good working relationship with the claims managers on this class of business.
Client Management
- Advise, assist and service clients on insurance and risk matters to ensure clients satisfaction.
- Foster positive relationships with clients to get a mutual understanding of both their and Beazleys needs.
- Maintenance of good business relationships with brokers.
- Maintain awareness of overall Beazley product range and take advantages of opportunities to introduce other Beazley products to clients.
General
- Leverage networking opportunities within the business to develop standardised underwriting policy and best practice within Beazley.
- Develop best practice and disseminate business and class knowledge within the Political Risk & Trade Credit and PAC team.
- Work with peers within Political Risk & Trade Credit and PAC to maximise business opportunities and profitability within the department. This will include but not be limited to sharing market information, marketing sources and cross selling opportunities.
- Share and gather knowledge within the Beazley Group to ensure dissemination of best practice and maximise business opportunities and profitability within the Group.
- Production of presentations and marketing literature as required.
- Production of business plans/research documents for the Political Risk & Trade Credit account as required.
At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazleys core values and behaviours - PIED and Being Beazley.
- Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
- Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct Rules. Undertake training on Beazley policies and procedures as delivered by your line manager, the People and Sustainability development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
- Display business ethics that uphold the interests of all our customers.
- Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
- Comply with any specific responsibilities necessary for your role as outlined by your line manager, the People and Sustainability team or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazleys underwriting control standards, Beazleys claims control standards, other Beazley standards and customer relationship management.
- Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.
Personal Specification
Education and Qualifications
- Minimum Bachelors Degree education
Skills And Abilities
- Proficient underwriting skills
- Accurate and numerate
- Computer skills - good working knowledge of MS Office, advanced Excel skills
- Strong analytical skills with attention to detail
- Able to communicate effectively with others, both verbally and in writing
- Ability to manage time, meet deadlines and prioritise
- Motivational skills
- Additional Languages are a bonus
Knowledge and Experience
- General commercial and financial knowledge
- Extensive experience in credit or financial analysis
- Client service experience
Aptitude and Disposition
- Result focussed, self-motivated, flexible and enthusiastic
- Professional approach to interact successfully with managers/ colleagues/ external suppliers
- Team worker as well as able to work on own initiative
- Customer focused, with a strong ethic of service and fairness to the customer
Competencies
- Achievement drive
- Analytical thinking
- Strategic thinking
- Service focus
- Team working
- Forward thinking
- Developing people
- Conceptual thinking
