Head of Bordereaux Management

Company
Munich Re Specialty - Global Markets
Location
London , United Kingdom

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.  

Please see our website for more information.

 

Head of Bordereaux Management

To manage a team of permanent Bordereaux Analysts and external 3rd party resources (bordereaux team), overseeing the delivery of bordereaux processes, providing timely and standardised data to internal and external stakeholders, and ensuring that bordereaux data and management information are timely, up-to-date, relevant, complete, accurate and consistent.

 

Responsibilities:

• Oversee adherence to Munich delegated underwriting bordereaux process in the various classes of business underwritten utilising relevant internal and market tools, namely DDM/Tide and Lloyd's v5.2 Minimum Reporting Standards.
• Manage on-going workload of the bordereaux team and progress towards complete and up-to-date DDM contract profiles, questionnaires, mapping and peer review processes in line with Munich Re, Lloyd's and Lloyd's Europe requirements.
• Assess timeliness and quality of mapped data using Munich Re reporting tools, e.g. Qlikview and PowerPI, and develop new data control processes as necessary, e.g. bordereaux reviews to assess suitability against Lloyd's v5.2 Minimum Reporting Standards.
• Oversee feedback to Lloyd's brokers, coverholders and Munich Re stakeholders on accuracy and timeliness of data provided, including escalation and reporting of data queries and breaches against relevant underwriting controls.
• Provide bordereaux and data training to the bordereaux team and assist with the on-boarding of new team members as necessary.
• Be responsible for standard and ad-hoc reports to internal and external stakeholders including in areas such as Solvency II, Conduct Risk, Lloyd's Europe, FCA (e.g. eligible complainants, RMAR, etc.).
• Work with the Head of Underwriting Delivery and Group Head of Delegated Underwriting to support  delegated underwriting data initiatives and with the enhancement or development of future reports/dashboards.
• Ensure that relevant procedures and systems relating to bordereaux management are maintained and updated in accordance with Lloyd's, Munich Re and Group requirements.
• 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.
• Support the process and structure that upholds the requirements set out in the Lloyd’s Conduct Risk Minimum Standards and Complaints Principles

 

Knowledge and Skills

Advanced business knowledge and understanding of:

• Bordereaux analysis and management, e.g. DDM/Tide and other bordereaux management applications, e.g. VIPR Intrali, BORDEREAUX
• Sound knowledge of risk and premium reporting and credit control for delegated underwriting
• Lloyd's delegated authority tools, e.g. Atlas, DCOM, IMR, Blueprint 2
• Report production, analysis and presentation utilising reporting tools, QlikView, PowerBI
• Underlying principles of insurance/reinsurance practice
• Lloyd’s Market practices and regulation, specifically relating to delegated underwriting
• Demonstrate clear understanding of all company specific procedures that relate to own role
• Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and operation of the department and wider organisation
• Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation

Skills

• Demonstrate high degree of attention to detail and accuracy and use of relevant reporting tools
• Ability to manage own workload and to work both supportively and jointly with colleagues
• Ability to work under pressure and flexibly when necessary, prioritising tasks, resource planning and meeting deadlines
• Use of communication skills, both written and verbal reporting and presentation, that are both effective and meet business needs

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

 

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.

 Learn more about sustainability at Munich Re – choose your impact! 

 

#BePresent #BeBold #BeCurious