Wordings Analyst

Role:
Wordings Analyst

Location:

London

Contract Type:
Permanent

Work Pattern:
Full Time and Hybrid

• Minimising use of unclear terms;
• Highlighting risk exposure, especially created through third party drafting;
• Raising awareness of (re) insurance issues that may have an impact on wordings;
• Championing clarity of structure and drafting recognising that, whilst commercial considerations and market conditions may drive decisions, MSAUL Wordings can promote continuous improvement;
• Promoting the MATTER values, adopting a consistent style and, whenever possible, harmonised structure, terms and drafting principles.

• To help implement the Wordings Control Framework in conjunction with Senior Analysts and the Head of Wordings
• To help manage a wordings repository containing an up to date suite of agreed wordings for all lines of business.
• maintain management information in support of the wordings strategy.

• To support the business by reviewing documentation associated with prospective and approved opportunities
• To ensure documentation complies with relevant law and regulation, consistent with commercial appetite and underwriting and claims philosophies
• To support the companies by drafting and reviewing (re) insurance wordings, clauses and endorsements including policy summaries, Key Facts, ICOB required documentation and associated policy pack supporting documentation
• To provide technical input on complaints, coverage queries and disputes
• To provide technical support and training to company personnel as required
• Liaise with brokers, Reinsurers, MGAs/Coverholders and other such parties to ensure the best outcome for the Company at the outset of the discussions and through the period of the agreements and policies

• maintaining working relationships with the other business partners including, but not limited to, Claims or Underwriting teams,
• acting as a technical reference point on wordings and coverage for all territories and business lines within the Business.
• Keeping up to date with new products and business opportunities and monitor market, Lloyd’s, legal and regulatory changes which may affect policy wordings
• keeping updated guidance materials and toolkits for the company.
• Acting at all times in accordance with the Company's and the MSIG Group’s code of conduct and best practice standards.
• Maintaining compliance with any applicable UK or international statutory or regulatory obligation as required by the role. This includes but is not limited to obligations arising from:
• The prudent management of the business
• Placing due regard on the interests of customers
• Observing rules on sanctions and financial crime
• Regulatory requirements and local licensing restrictions
• CPD in line with IDD requirements

• Self-starter, who can manage themselves effectively, communicates tasks and objectives clearly and ensure time is fully utilised.
• Communicates clearly to the relevant underwriting teams and the Head of Wordings.
• Ensures urgent and important tasks are completed first.
• Can manage own tasks effectively:
  Uses simple tools and systems to structure personal activities (e.g. to do lists, follow up procedures).
• Quickly and accurately reports on the status of work.
• Meets deadlines by managing time.
• Ability and confidence to change/ direct wording appetite as and when required

• Experience of working within the London insurance/reinsurance market
• Experience with the drafting and review of complex wordings,
• Ability to both support and challenge Underwriting staff
• Strong technical knowledge of Insurance wordings
• Comprehension of the Lloyd’s…