MS AMLIN ASIA PACIFIC PTE. LTD.
MS AMLIN ASIA PACIFIC PTE. LTD. Singapore Singapore
2 months ago
• The purpose of the role is to assist the Reinsurance Underwriting team with the administration of the Reinsurance portfolio during key underwriting periods throughout the calendar year and quarterly and annual activities. Key to this role is regular engagement with relevant functional areas of the Singapore platform including Modelling, Actuarial, Finance (Credit Control and Technical Accounting), Claims and Management.
• The Candidate will learn the foundational concepts of reinsurance underwriting through structured training on the job and through external programmes as well as mentoring from senior members of the local and London Reinsurance Underwriting teams.
• The Candidate will help the Reinsurance Underwriting team to deliver on its vision and strategy for MS Amlin Asia Pacific (MS AAP) to retain and grow and expand into new portfolios and / or markets in line with our strategy and business plan.
2. KEY RESULT AREAS
Reinsurance Underwriting Function
• Manage the... receipt and tracking of all submissions during key underwriting periods into purpose-built tools and business applications so that work can be appropriately managed across the team, key steps in the transactional lifecycle are met on time and so that Underwriters have overall visibility of workload, allocation and key underwriting performance metrics
• Built into this is a requirement is the need to proactively manage allocated work items and support the wider team to do the same so that client submissions are acknowledged and dealt with efficiently to deliver a valuable overall experience with MS AAP
• Prepare rating templates in line with agreed process and standard by analysing information packs received from clients and inputting relevant data for the Underwriter to review and price
• Ensure modelling files are received and assessed by the Modelling team – to upload and manage the process from receipt to review, analysis by Modelling and playback to Underwriter and Client as part of the rating process
• Manage the creation and accuracy of all reinsurance underwriting records in underwriting system
• Ensure that all underwriting documentation is updated to the underwriting workflow system and indexed accurately and in a timely manner at the point of policy inception and during the term of the reinsurance contract as updates are received
• Manage all post renewal activities relating to validating the accuracy of risk records created for written accounts, producing summary overviews of performance at account level, effective house-keeping of all contractual documentation and closing off all activities relevant to particular underwriting periods
• Support London Underwriting Management in the administration of quarterly review exercises that test data adequacy and investigate whether premium has been paid in line with reinsurance terms, including reporting on the outcome of the same
• Undertake research and analysis activities to Identify new business opportunities – partners and products; Monitor market conditions and alert the business of developments that affect a class of business; Any other ad hoc assignments instructed from time to time; In every engagement with business partners gain and build trust – deliver a good experience that support the Reinsurance Underwriting team in their delivery of exceptional service
• Assist Reinsurance Underwriters to generate and analyse reports relating to income, referral and declinature rates, performance and overall portfolio management
• Build and produce required reports (from business applications and XLS) in line with metrics provided by the Underwriters
• Maintain and continuously build upon XLS tools and reporting frameworks as required by the Underwriters and Operations Function
• Ensure data in our underwriting system is accurate and updated as required and validated at designated times in the calendar year
• Ensure rating templates are complete and maintained – saved to the required location and their contents align to other key underwriting applications and tools
• Periodically or on an ad hoc basis produce income reports (at class of business, territory, aggregate level) to assess performance against business plan and prior year – flag trends and / or adverse developments that should to be noted and inform future business planning
• Support with quarterly reserving exercises lead by Finance function
• Annually review and update all policy and procedure documentation of the Administrative function of Reinsurance Underwriting, including User Guide(s) and other relevant materials, in consultation with Operations Function
• Working with the Claims function in relation to review of Claims statistics or large loss management – liaising with business partners and clients to collect the latest reported position on large event losses to support Claims and Underwriting to assess our overall Ultimate loss position (as required)
• Update risk and premium records as and when updates and further information is received from business partners, clients and Finance – principally Credit Control and Technical Accounting teams, relating to premium receipt and allocation
• Keep abreast of changes in process or procedure cascaded from London Underwriting Management – support Operations in the effective implementation of those procedures locally
3. THE OPERATING ENVIRONMENT AND CONTEXT OF THE JOB
• MS Amlin operates within a dynamic and challenging environment over multiple territories across the globe, where it is a leader in several markets. In an increasingly competitive market, it is vital that we continue to differentiate ourselves in all segments and routes to market.
• Key to our success is ensuring that we drive client intimacy through our people to respond to the ever-changing needs of our clients, while ensuring we maintain an ongoing focus on delivering profitable underwriting. This entails having a true understanding of the needs and behaviours of our clients, deepening our relationships with them, and delivering MS Amlin’s global expertise at the point of client contact.
• Whilst conducting our business it is always of importance that we balance the outward facing business needs with the internal regulatory requirements which must be adhered to.
• This role is vital to the effective operation of the Reinsurance Function and our ability to meet both internal and external governance and regulatory requirements.
4. KEY COMPETENCIES
• Proficient computer user
• Intermediate, preferably advanced skills in MS Office in particular Excel
• High attention to detail
• Excellent time management and prioritisation
• Ability to manage several tasks with different due dates at any one time - multitask
• Effective communicator – exceptional listening, spoken and written skills – able to take detailed notes, playback task requirements and meet and manage deadlines
• Personable across team, business, and market
• Able to work with various stakeholders including Senior members of Reinsurance team, colleagues in Modelling, Finance, Claims, Actuarial and Operations Functions locally in Singapore and in other locations of MS Amlin Group
• Able to develop strong professional relationships with business partners and clients
• Client focused – keen to deliver value to partners and clients in any interaction
• Diligent and able to ensure Reinsurance function’s compliance with procedures – local, global, and regulatory
• Strong administrative skills and the ability to effectively use multiple applications and tools to administer the activities of the Reinsurance function
• Basic understanding of insurance terminology and a plus point for specialty, marine or casualty knowledge
• Demonstratable ability to take initiative and be proactive – able to own and execute on all assigned tasks
• Team player and collaborative
Underwriting Assistant, Reinsurance Function Singapore jobs
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