MGA Junior Underwriter

Job Summary 

As an (re)insurance professional with experience in P&C Commercial Lines and/or Program Business, will be a key member of the Program Business Team contributing to strengthening the portfolio of the Program Business Unit by assisting in producing, underwriting, and managing programs with a focus on target business.

Responsible for supporting the production of new programs in accordance with the business plan of the Program Business Team as part of the corporate objectives of SCOR strategic plan.

Will be monitoring assigned programs, tracking, and analysing Key Performance Indexes (KPIs), ensuring profitability criteria are met. Will also ensure the overall activity of the MGA remains within compliance and as per our expected level of governance.

To assist this position in achieving your objectives, the role will benefit from dedicated support functions like Claims, Legal, Pricing, Modelling, as well as allocated resources from Finance, Technical Accounting, Reserving, Risk Management… 

As a team player with effective communication and project management skills, will work with all these internal stakeholders to coordinate actions on the respective programs. 

Overall, the person in this position is expected to assist coordinating underwriting and reporting activity with all relevant stake holders within Specialty Insurance Portfolio Underwriting and other various entities of the SCOR Global P&C Division.

Will also be contributing to onsite and/or desk audits, assessing organizational structures, operations, and underwriting performance of new business opportunities as well as existing programs.

Finally, as a part of this role, it is expected active promotion to the SCOR franchise through direct support to the Program Business Team initiative in conjunction with SCOR’s strategic plan through focused marketing actions and selective underwriting.

Key duties and responsibilities

Assistance with MGA and Program Business Underwriting

 Ongoing program business written Assist Operations in the reconciliation of in-force premium bordereaux with claims bordereaux and payment remittances to ensure the validity of claims ceded. Coordination with all appropriate support function teams involved in the management of these programs (underwriting, pricing, claims, legal, technical accounting, finance, reserving, risk management, Underwriting management) Perform underwriting audits Coordinate claims, Operations, Transactional, Pricing and Modelling audits as needed Provide quality, detailed and timely reports of ongoing performance of MGAs In respect of new business opportunities, responsible to: Actively cooperate formulating business cases with appropriate structures and terms and conditions, to be submitted to Senior Management and Underwriting Management for approval. Cooperate with contract wording drafting and/or evaluation, in coordination with all appropriate SCOR Global P&C teams (underwriting, pricing, claims, legal, technical accounting, finance, reserving, risk management) Contribute to ad hoc due diligence teams for new deal evaluation and onboarding of new MGAs

MGA and Program Business Management

Contribute to the development and implementation of the SCOR Program business strategy under the leadership of the CUO  Collaborate with the Program Underwriters, on audits, referrals, new business Due Diligence and other tasks as may be needed through a “Lead and Deputy” system. Responsible to monitor performance through analysis of data produced by distinct MGAs (bordereaux), through the use of SCOR MGA platform Alpha, and ensure consistency with SCOR administrative systems (OMEGA, Salesforce…)

Marketing Activities

Attend industry conventions to promote SCOR and develop business relationships Support origination efforts with existing market experience and relationships Track new and existing business activities in Salesforce

Compliance and Control Activities:

Contribute to quarterly closing process and audits, both internal and external Adherence to all licensing and other legal and regulatory requirements Adherence to SCOR ERM principals and requirements Contribute with the production of SCORCards

Required experience & competencies

Experience:

5+ years of (re)insurance experience with focus on underwriting/portfolio management/processes. Experience in program business management highly desirable.

Skills:

Experience managing portfolio operations, handling audits (internal/external), managing technical accounting and bordereaux, dealing with regulatory and compliance requirements. Ability to identify point of improvement and propose solutions. Capacity to maintain strong communication with multiple teams. 

Personal Competences:

Superior account management skills,  Strong business and financial acumen and underwriting expertise  Excellent analytical and portfolio management skills Strong presentation skills with ability to bring resources together to achieve desired outcomes.  Excellent verbal and written communication skills Must be proficient in Microsoft Word, Teams, Excel and Power Point Exceptional team player while capable of operating independently Able to work in teams and operate collaboratively in a matrix organization  Self-motivated  Project management skills an advantage 

Required Education

Actuarial, economical, statistical degree preferred Post-graduate degree and/or industry certification/designation a plus 

Required languages

Spanish - Level 4 - Can actively participate in meetings and group conversations. Can lead negotiations. Writes complex business letters and reports.

Portuguese - Level 5 - Can lead discussions and negotiations at the highest level. Writes complex reports. Rarely makes grammatical mistakes.

English - Level 5 - Can lead discussions and negotiations at the highest level. Writes complex reports. Rarely makes grammatical mistakes.

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