Underwriter - Financial Lines

at  Beazley Management Limited

JOB DESCRIPTION

Job Title: Underwriter – Financial Lines, Canada
Job Location: Toronto or Vancouver
Division: Specialty Lines
Reports To: As per Beazley’s organisation chart
Key Relationships: Brokers, Underwriters, Claims Managers, Clients and Suppliers/ Service Providers
Job Summary: To underwrite management liability and financial institutions professional liability business within the Canadian Financial Lines team and help build a profitable book of business in Canada. Provide technical expertise and support internal and external stakeholders as we help further elevate market reputation of the Beazley brand in Canada.

JOB REQUIREMENTS:

Education and Qualifications

• Bachelor’s Degree in Business/ Finance and/or equivalent work experience.
• Professional designations such as CFA, MBA, CIP, RPLU etc are an asset but not a requirement
• Bilingualism in French and English is an asset but not a requirement.

Skills and Abilities

• Strong communication skills, including the ability to persuade as well as challenge others
• Proven negotiation skills, gained through established broker relationships;
• Demonstrated analytical skills and comfortable with financial analysis;
• Ability to be innovative and creative in order to develop new opportunities;
• Ability to work independently as well as in a team environment;
• Results oriented, accountable and collaborative.
• Strong customer service, verbal and written communication skills

Professional Experience

• Senior UW/ Specialist level proficiency in Public D&O, EPL, FID, CRM, and FI E&O products
• Minimum 3-5 years of experience in handling complex management liability and financial institutions business.
• Intermediate to advanced knowledge of debt and equity markets, various regulated finance professions, and experience in analysing industries such as: banking, real estate, mining, biotechnology, oil and gas, utilities, retail, manufacturing etc.
• Knowledge and proficiency with technical insurance concepts, sanctions, compliance, coverage, products and pricing strategies as related to Financial Lines.

Aptitude and Disposition

• Results oriented, self-motivated, flexible and enthusiastic.
• Professional approach when interacting with internal product leaders/ colleagues/ external stakeholders, etc.
• High level of integrity, confidentiality and accountability
• Highly organized, with the ability to work towards goals while adapting to change in a fast paced environment
• Effective analytical, negotiating and decision-making skills

Responsibilities:

SKILLS & 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
• Excellent business development skills
• Strong relationship management skills

KNOWLEDGE & EXPERIENCE

• General commercial and financial knowledge
• Extensive experience in insurance industry
• Extensive experience of surety underwriting or broking
• Thorough knowledge of underwriting policy, philosophy and practice
• Advanced knowledge of underwriting processes and systems
• Client service experience

Underwriting

• Develop and underwrite a profitable portfolio of Financial Lines business in Canada – predominantly focused on Management Liability and Financial Institutions within the mid to large account space – as part of the International Specialty Lines team.
• Structure tailor-made solutions by considering the team underwriting parameters, underwriting policy, and using underwriting knowledge and experience to win new business and retain existing lines.
• 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 Canadian Financial Lines book of business.
• Monitor and supervise assistants in their daily work to ensure compliance with underwriting philosophy and policy and consistency within the team and Specialty Lines.
• Monitor premiums, costs, and claims ratios per contract and take corrective measures if necessary to ensure long term profitability at account level.
• Comply with Beazley’s underwriting control standards for business written through Lloyd’s, Beazley Insurance Company Inc or Beazley’s 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 Beazley’s 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

• aaDevelop best practices, and help educate others on specific topics/ products within the Canadian Financial Lines and International Specialty Lines teams.
• Collaborate with peers within Financial Lines and International Specialty Lines 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 across the Group.
• Production of presentations and marketing literature as required.
• Production of business plans/research documents for the Canadian Financial Lines team 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 Beazley’s core values and behaviours – PIED and Being Beazley.

• Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and being Dynamic which contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
• Follow 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 Talent Management 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.
• Follow any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s 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.