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Senior Underwriting Officer, LSM

Employer
Liberty Mutual Insurance
Location
Chicago, Illinois
Salary
Not Specified
Closing date
Jul 2, 2019

View more

Category
IT , Underwriting
Job Type
Not Specified
Career Level
Not Specified

Job Details

Launch your Underwriting career at Liberty Mutual Insurance - A Fortune 100 Company!

We are in search for a leader who will Underwrite Multi-Buyer Trade Credit insurance in accordance with the business plan set forth for Liberty Specialty Markets (LSM) Financial Risk Solutions (FRS) North America and within delegated underwriting authority. Interested in this dynamic opportunity?

Liberty Specialty Markets (www.libertyspecialtymarkets.com) is one of the largest specialty insurers in the Insurance and Reinsurance market. It has over 1,000 employees in 22 offices throughout the Americas, Europe and Asia, and is a subsidiary of global insurer Liberty Mutual Insurance Group.

Responsibilities:

Strategy and Planning:

  • You will support the development of FRS and ensure delivery of the Multi-Buyer Trade Credit plan in accordance with stated risk tolerances and underwriting strategy
  • You will engage in and lead key internal and external underwriting initiatives centered around country and regional business expansion, underwriting guidelines, risk analysis tools and documentation, industry analysis, Multi-Buyer risk modeling and technology
  • Supported by LSM Canada resources, oversee the launch of LSM FRS Trade Credit insurance in Canada
  • Contribute and participate in LSM and FRS meetings to share and develop strategy, knowledge and standard methodologies
  • Support the construction of a Multi-Buyer Trade Credit Insurance technology platform
  • Supplies new ideas and concepts to support the development and delivery of the business plan
  • You will help to develop and execute Thought Leadership Initiatives


Delivery:

  • You will Underwrite Multi-Buyer Trade Credit Insurance risks in accordance with business plan and in compliance with delegated authority including risk and credit analysis, quote, negotiation, bind, issuance and policy servicing
  • Develop and launch a business plan for expansion into Canada and help develop best practices for future global expansion of the Multi-Buyer Trade Credit business.
  • Establish and strengthen relationships with clients, brokers, industry bodies, business and consortium partners, and colleagues to maximize influence and achieve business objectives
  • Provide excellent service and prompt turnaround to client and broker requests
  • Conduct credit reviews of buyer/obligor financial statements, and set or recommend appropriate limits, aggregates and risk ratings based on the buyers credit and financial strength
  • Travel regularly in the US, Canada and globally to attend client and market meetings and conferences to build out the business strategy
  • Present LSM and FRS strategy and data to both internal and external stakeholders on an ad hoc basis
  • Continually develop expertise and technical knowledge through appropriate development initiatives
  • In conjunction with the FRS risk management team, contribute to and influence the review and analysis of the overall credit risk portfolio
  • Engage internally to further develop and enhance risk and pricing models
  • Interact with the Claims team on claims matters
  • Ensure entries are properly recorded into relevant systems in a timely manner while ensuring accuracy of data in relation to both underwriting and aggregate exposures
  • Conduct periodic reviews of underwriting files in support of the Peer Review process


Policy, Process and Procedures:

  • Comply with all applicable internal and external laws, regulations, policies, procedures and guidance
  • Enforce to underwriting standards, instructions and standard methodology to minimize risk as incorporated into the Underwriting Controls Framework
  • Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviors as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's dedication to placing customers at the center of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviors at all times. These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.


People Management

  • Help to train and develop knowledge of the junior members of the FRS team via formal and informal training sessions
  • Act as a referral point for all members of the team on risk enquiries using delegated authority
  • Utilize resources across the team to ensure business requirements are achieved
  • Lead performance in accordance with the companys performance process



Qualifications:

  • Strong interpersonal and communication skills

  • Strong credit and financial risk analysis skills

  • Ability to analyze and use data for quick, thoughtful decision-making under time constraints

  • Strong negotiation, organizational and prioritization skills

  • People management ability to engage constructively and respectfully with FRS colleagues

  • Minimum 10 years working in the Financial Services sector, preferably in an insurance companys credit and political risk insurance team, the credit/loan/syndication function of commercial or investment bank, or a Public Agency engaged in credit and/or political risk insurance or direct lending function

  • Bachelors degree required with Business/Finance degree preferred. MBA preferred.

  • Strong understanding of the drivers of Financial Institutions use of risk mitigation products

  • Experience in Emerging Markets credit risks

  • Use of risk profiling and pricing tools and loss models

  • Strong economic, political and current affairs understanding and knowledge

  • Dual US/Canadian citizenship a plus

      Liberty Mutual is an equal opportunity employer. We embrace an environment that is free from all discrimination in the workplace, in its business, or by its vendors. Liberty Mutual values diversity and the differences and similarities of our employees. We foster a diverse and inclusive work environment that leads to better ideas, stronger teams and more innovative products and services for our customers.

Benefits:

We value your hard work, integrity and commitment to positive change. In return for your service, its our privilege to offer you benefits and rewards that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits

Overview:

At Liberty Mutual, we give motivated, accomplished professionals the opportunity to help us redefine what insurance means; to work for a global leader with a deep sense of humanity and a focus on improving and protecting everyday lives. We create an inspired, collaborative environment, where people can take ownership of their work; push breakthrough ideas; and feel confident that their contributions will be valued and their growth championed.

Were dedicated to doing the right thing for our employees, because we know that their fulfillment and success leads us to great places. Life. Happiness. Innovation. Impact. Advancement. Whatever their pursuit, talented people find their path at Liberty Mutual.

Company

When people have a sense of security, they are free to relax, venture out, and live their lives. This is the feeling Liberty Mutual brings to the world every day. Founded in 1912, we are a global leader in property and casualty insurance, focused on protecting and preserving the lives and dreams of customers in more than 30 countries. With over 50,000 employees throughout the world, we offer you the chance to work for an evolving, growing company with a deep sense of humanity and a commitment to diversity and philanthropy. Join our team and go to work knowing that what you do matters. Because really it does.

 

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