Political Risk Underwriter

 Africa Specialty Risks (ASR) is enabling sustainable economic development by fulfilling unmet insurance needs. Our platform provides local underwriting expertise, an unparalleled distribution network and access to global capacity.

Founded in the heart of Africa and with offices across the continent and the Middle East, we provide regional market knowledge, data insights, and technical proficiency for capital partners who are looking to increase their presence in growth markets.

We also participate on each and every risk we underwrite with balance sheets in Bermuda, Mauritius and through Syndicate 2454 at Lloyd’s. ASR is committed to accelerating business growth by providing customised service and innovative insurance products to enable development.

Role Purpose:

Support the execution of the business plan by underwriting acceptable risks in ASR’s chosen market sectors, demonstrating “the technical underwriter” approach and actively seeking opportunities for profitable growth.

Role Responsibilities:

• Develop and successfully deliver the business plan alongside PRTC Head in alignment with the overall ASR Business Plan and Strategy
  
  
  
  • seek out and accept risks compliant with the business plan and ASR’s standards/risk appetite. Monitor all aspects of existing accounts under own remit on an ongoing basis.
  
  
  
  

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  • Ensure risks are written within the agreed parameters, making sound long-term decisions on risks that are written, with a focus on smart, rationale underwriting.
  
  
  
  


• Focus on protecting investors, lenders, and corporations against losses caused by sovereign actions or political events (e.g., expropriation, currency inconvertibility, political violence, contract frustration) in emerging markets. 


• Ensure processes and procedures are aligned with the ASR target operating model, including the risk and governance framework


• Optimise business performance management by providing accurate and timely management information


• Act as a role model, promoting the ASR brand and culture


• Represent ASR in relevant market forums, conferences and presentations


• Relationships - build, maintain, optimise relationships with Capacity providers, brokers, clients, reinsurers, Lloyd’s and other stakeholders


• Underwriting Risk management - support all aspects of the risk management framework for own lines of business and ensure that any risks outside of agreed parameters set out in the business plan are reviewed for sign-off pre acceptance. Conduct peer review of underwritten risks in accordance with procedures, prior to Business Unit Manager sign-off.


• Reinsurance - Support the Head of Line and Director of Underwriting with the negotiation and purchase of reinsurance processes in accordance with the business plan, including the provision and explanation of Data in conjunction with the Actuarial team


• Claims management - liaise with and assist the Claims department when required in the settlement of claims


• Administration management - ensure own administrative processes set the example for the underwriting team, managing the accuracy and timely completion of the entry of risk and aggregate information, and the integrity of relevant data/reports. Manage the completion of daily validations of USMs and SCMs. Maintain Underwriting records accurately and efficiently. Provide input into optimisation of support systems


• New business opportunities – coordinate closely with the Head of Business Development and the Head of Line to maximise new business opportunities – both those proactively initiated and as they reactively appear


• Cross selling opportunities - coordinate across the business units to ensure new business cross selling opportunities identified are optimised


• Ensure appropriate risk management decisions are made with reference to your business area, and establish risk framework components i.e. strategy, appetite, & mitigation processes


• Implement data controls in accordance with data governance framework and manage breaches that arise in an appropriate manner


• Establish necessary governance documentation in line with framework & fulfil your responsibilities in accordance with the document management policy


• Ensure all audit points are actioned and managed within recommended timescale


• Where appropriate, manage the relationships with outsourcers


• Operate within agreed authority levels, as determined by the Board


• Any other reasonable tasks as directed by your manager(s)

Skills & Experience:

Essential:

• Possess in-depth knowledge, expertise and experience of relevant PRTC underwriting.

• Demonstrated expertise and ability to coach others


• Functional leadership and people management


• Effective planning and organisational skills


• Strong understanding of risk management and governance framework and how function fits into it


• Underwriting discipline


• Proven ability to effectively set rates through a comprehensive understanding of the market and ASR's underwriting philosophy


• Ability to promote own profile and ASR to brokers and clients


• Ability to provide innovative solutions to complex problems


• Effective communication and relationship management skills


• Advanced negotiation skills


• Ability to use appropriate systems to the technical level required


• Demonstrate ability and willingness to work towards relevant professional qualifications where required.


• High level understanding of:
  
  
  
  • internal model
  
  
  • capital setting process
  
  
  • risk management and governance framework
  
  
  
  

Desirable:

• Understanding and application of accounting principles