Underwriting Apprentice
The underwriting apprentice role will be part of a busy team supporting with the day to day underwriting activities. This will include looking after data and making sure its managed smoothly and keeping to required time frames. The apprentice will support the underwriters to underwrite various allocated accounts in line with the business plan. They will also support that produces a return to capital providers in accordance with the divisional business plans. The apprentice will also provide technical and administrative support to Underwriters. This work will include some statistical analysis and reporting on business activity. In addition, the apprentice will support with the production of relevant reports to ensure the team is meeting its regulatory requirements internally and externally. This is a role that is at the heart of everything we do.
This apprentice role primarily focused on providing support to underwriters.
About The Job
What you’ll spend your time doing:
While there is rarely a ‘typical’ day within the underwriting team, here’s a snapshot of some of the key parts of the job:
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Supporting the delivery of client-facing transactional service activities
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Assisting in the day-to-day running of client risk and insurance programmes
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Contributing proactively to client satisfaction, retention and profitability
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Carrying out administrative tasks contributing to your underwriting team
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Inputting data accurately to maintain management information
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Setting up references for new & renewal accounts.
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Making sure all risks are actioned accordingly in our internal system. (S2000)
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Save any relevant documents to the system
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Ad hoc reporting, renewals lists, looking after and analysing monthly rates, aggregate and premium projections and monitoring
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Responding to bdx queries and exceptions on IQcanvases
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Assist with creating various reports i.e. data fitness reports
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Build effective relationships with own peer group within the market to ensure continued growth
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Remain alert to developments affecting the business of the class.
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Participate in the monitoring of underwriting against the Business Plan drawing attention to exceptions where identified.
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Assist with resolving standard risk review queries
You’re going to enjoy this job if you also…
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Curious
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Good communicator and negotiation skills
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Team player
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Attention to detail
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Numerical skills
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Analytical and critical thinking
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Enjoy maths and stats
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Have an eye for detail
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Are a strong problem solver
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Can explain complex data in simple terms
What you’ll need:
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GCSE in Maths and English or equivalent at grade 4 or above
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A ‘Level results in A-C range
What you can expect from us:
Salary and benefits package is provided, but you can also expect:
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A great team and supportive colleagues
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An open mind (especially to new ideas and ways of doing things)
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A strong focus on diversity, inclusion and equal opportunities
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A programme of wellbeing and mental health support
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Employer-supported volunteering (ESV)
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Flexible working
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Continuous learning
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Study support
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Structured career development
About MS Amlin
MS Amlin is part of a global top-10 insurance group MS&AD, with three main legal entities operating in the Lloyd’s (MS Amlin Underwriting Limited), UK & Continental European (MS Amlin Insurance SE) and Swiss and Bermudian (MS Reinsurance) markets. We have an enviable reputation for our customer knowledge, claims service and the specialist insurance and reinsurance expertise we apply. We provide the type of security leading organisations need to break new ground, innovate and offer life-changing services and amenities to some of the world’s most challenging regions. Through our parent company, our record extends back over 300 years and today we have more than 1800 (TBC) people in 15 locations worldwide.
We are experts in underwriting, with both technical capability and deep knowledge of the areas we insure. Our claims service aims for equality, with efficient, fair and timely claims management.
We’re going through an exciting period of modernisation and transformation for which we need entrepreneurial thinkers to help execute our strategic vision for growth. We’re on a dynamic path and we need your to help shape it.
MS Amlin is committed to taking a flexible approach to working to allow our employees more control over when and where they work, while still continuing to meet our client demands. This flexible approach continues into our benefit scheme, with a competitive package and attractive lifestyle fund.
About MS Amlin Underwriting Limited
The MS Amlin group of companies delivered approximately £2.8bn of premium in 2021, around half of which was placed via the Lloyd’s platform through Syndicate 2001, one of the largest Lloyd’s syndicates.
Operating through its Lloyd’s Syndicate, MS Amlin writes a diverse (re)insurance portfolio, supporting clients with complex (re)insurance needs from its offices in the heart of London’s insurance district and from its local hubs in the US, Asia and the Middle East.
Our portfolio is split into three Divisions: Property & Allied Lines, Specialty and Reinsurance. Specialty comprises 4 departments (Casualty, Marine, Natural Resources and Crisis Management) and Reinsurance covers a mix of property, casualty and specialty lines.
Each Division is approximately the same size, in terms of the planned premium income.
We are wholly owned by Mitsui Sumitomo Insurance Group and regulated by the Prudential Regulation Authority, the Financial Conduct Authority and Lloyd’s.
Conduct Rules
With the implementation of the SM&CR (Senior Managers & Certification Regime), the Financial Services and Markets Act gave the FCA new powers to write conduct rules and apply them to all employees within a firm. The Conduct Rules set basic standards of good personal conduct. They stipulate that you must:
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Act with integrity
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Act with due care, skill and diligence
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Be open and co-operative with the FCA, PRA and other regulators
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Pay due regard to the interests of customers and treat them fairly
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Observe proper standards of market conduct
[SMR &CR section only to be used for key senior management roles]
Senior Management Functions / Certified Functions ~ Conduct Rules
**specific Senior Management Functions Only**
SM&CR Responsibilities
This role is a Senior Management Function Holder Role (SMF) requiring the role holder to be approved by the Prudential Regulation Authority (PRA) and/or the Financial Conduct Authority (FCA) prior to appointment. The role holder will also be required to be assessed for their fitness and propriety prior to appointment. This assessment will take into account relevant PRA and/or FCA rules around the qualifications, training, competence and personal characteristics required for the role. Once appointed, this assessment will continue on an annual basis.
The role holder may be assigned one or more PRA/FCA Prescribed Responsibilities or other responsibilities specific to the Company as part of this role, details of which can be found within the Statement of Responsibilities.
Additional Conduct Rules:
SC1
You must take reasonable steps to ensure that the business of the firm for which you are responsible is controlled effectively
SC2
You must take reasonable steps to ensure that the business of the firm for which you are responsible, complies with the relevant requirements and standards of the regulatory system
SC3
You must take reasonable steps to ensure that any delegation of your responsibilities is to an appropriate person and that you oversee the discharge of the delegated responsibility effectively
SC4
You must disclose appropriately any information of which the FCA or the PRA would reasonably expect notice.
Handover:
In the event that the role holder ceases to fulfil this role either through termination or internal transfer, then they will be required to provide a comprehensive handover document for the successor or other appropriate person.
The handover document must include all information and material:
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the role holder’s successor could reasonably expect to perform the senior management function effectively,
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to ensure compliance with the requirements and standards of the regulatory system,
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to ensure that the individual with overall responsibility for compliance matters within the Employer maintains control during the handover period,
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about any unresolved or possible breaches of the requirements of the regulatory system; and about unresolved concerns expressed by the FCA, PRA or any other regulatory body.
A failure to complete a full and timely handover of the role of the senior manager function may be reportable to the PRA and/or FCA. On this basis, the Company may have duty to include this failure to co-operate in a full and timely handover in any regulatory reference provided in relation to the role holder.
Certified Functions
SM&CR Responsibilities: This role is a Certified Function Holder Role (CF) requiring the role holder to be assessed for their fitness and propriety prior to appointment. This assessment will take into account relevant Prudential Regulation Authority (PRA) and/or Financial Conduct Authority (FCA)rules around the qualifications, training, competence and personal characteristics required for the role. Once appointed, assessment of ‘fit and proper’ will continue to be assessed on an annual basis.