Senior Green Solutions Underwriter

Munich Re; Greater London; On-site; GBP 50,000 - 90,000

Job description

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

We are currently looking for a Senior Green Solutions Underwriter to work with us on a full-time basis in London, reporting into the Head of Renewables.

Green Solutions is a business focused on climate risk and finance. We underwrite renewable energy risk, green technology risk, carbon markets and natural capital, as well as blended finance solutions.

You will support the development of and underwrite for the Renewable Energy Account in line with the business plan to facilitate maximum return of profit. The account will focus on a wide spectrum of Clean Energy technology onshore and offshore, during construction and operations.

You will provide an accurate and quality management function for aspects of the Renewable Energy Account, at all times demonstrating care for customers and respect for the regulatory obligations and reputation of the Syndicate.

Responsibilities:

• Assess, price, negotiate and underwrite for the Renewable Energy Account. Exercising judgement in all underwriting and remaining aware of own underwriting limits as set out in the Underwriting Authority sheet, all in accordance with the Syndicate Business Plan.
• Conduct and develop effective business relationships with brokers and clients with a view to both securing new business and retaining appropriate renewal business.
• Develop responsibility for the co-ordination of underwriting and development of all business. To refer/liaise (when appropriate) to CUO and relevant internal departments.
• Assist in the underwriting and account development of the Service Companies.
• Provide analytical support to the administrative function of the Renewable Energy Account as follows:
• S2000 / EXACT Data Entry Process
• Credit Control Process
• CAT monitoring
• Review daily claims report and support claims handler on major claims (when required).
• Ensure Renewable Energy Account conforms with the principles of Contract Certainty.
• Ensure that company procedures and systems are followed and maintained, as per procedures and compliance manuals.
• Provide appropriate technical and training support to junior members of the Renewable Energy Account.
• Contribute to further development of quotation and risk evaluation tools.
• Be aware of the potential risks facing the business within own job role and the controls that are in place to mitigate them; and report all significant changes in these risks, or the effectiveness of controls, to your line manager in a timely manner.
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk.

Knowledge and Skills

• Sound technical understanding of current and future renewable energy technologies.
• Advanced knowledge and understanding of:
• Underlying Principles of Insurance.
• Legal Principles.
• FSA and rules and regulations, including contract certainty issues.
• Renewable energy with a focus on offshore/onshore wind, solar plants, energy storage systems etc during construction and operations.

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Benefits:

• Critical illness insurance + Life Assurance + Permanent Health Insurance.
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility).
• Electric Vehicle Salary Sacrifice Scheme.
• Study & continuing Professional Development Support.