Underwriter, Political Risk, Credit

Job Description - Underwriter, Political Risk, Credit & Bond (13004908D20230622)

Job Description

Underwriter, Political Risk, Credit & Bond ( Job Number: 13004908D20230622 )

DISCOVER your opportunity

Underwriter, Political Risk, Credit & Bond

Location – Sydney, NSW

Delivering a profitable ‘Underwriting’ service to your clients. Key tasks include: underwriting business within the agreed business plan and individual authority;supporting the business planning and forecasting process; monitoring financial exposurewithin outlined limits; monitoring premium income to ensure it remains within set limits; maintaining awareness of all claims advised while supporting and providing input on settlement of claims; ensuring adequate reinsurance acquired to cover specific risks; building and maintaining relationships with brokers and clients; supporting the design and structure of risks.

DISCOVERyour opportunity

What will your essential responsibilities include?

• Reviewing complex submissions including applications, policy wording, inspection reports, loss runs, and financial reports while conducting appropriate research to determine degree of risk for each account.
• Determining and negotiating appropriate risk premium by considering the risk costs inherent to the respective sector, reinsurance cessions as well as the Underwriting and general administration costs while ensuring profitability.
• Make informed underwriting decisions based on sound risk analysis and due diligence, negotiating policy terms and closing transactions that fall within target risk appetite.
• Build and manage effective relationships with customers and brokers across the Australia and Asia regions, maintaining regular contact and providing high levels of customer service to develop new business opportunities.
• Proactively advising, assisting, servicing and following up with clients on insurance and risk management matters to ensure satisfaction and fulfillment of their insurance requirements.
• Effective relationship management to initiate opportunities for cross-selling offered products and ensuring account retention.
• Support the business planning and forecasting process; monitor financial exposure within outlined limits; monitor premium income to ensure it remains within set limits.
• Maintain awareness of all claims advised while supporting and providing input on settlement of claims.
• Working collaboratively in a team environment, assisting underwriters, underwriting assistants and management team.

You will report to the Senior Underwriter.

We’re looking for someone who has these abilities and skills:

• Bachelor’s Degree preferred and equivalent experience in the relevant class of business; ideally some knowledge of trade finance and structured banking products.
• Ability to read and analyze financial statements (balance sheet, profit and loss and cashflow statements).
• Use judgment to identify and solve day to day problems in straightforward situations.
• Marketing - Effectively plan for sales and business development. Integrating the use of various techniques, tools, and information to support profitable business growth over a defined period.
• Negotiation/Sales - Plan, structure and conduct negotiations with brokers and/or clients to reach outcomes that gain the support and acceptance of all parties.
• Analytical Skills – Visualize, gather information, articulate, analyze and solve complex problems in order to make key business decisions.
• Interpersonal Savvy – Build excellent interpersonal relationships with brokers, clients & colleagues with the intention of improving personal profile and reputation within AXA XL and the broader market.
• Strategy and Planning - Make underwriting decisions to fulfill business strategic plan and deliver results. Has knowledge of financial targets and levers in order to deliver on departmental business plan.
• Industry Knowledge - Understanding of the insurance industry and specific product portfolios to positively impact the underwriting business by improving personal technical & functional knowledge; general interest in global geopolitical issues.

FIND your future

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.

How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business − property, casualty, professional, financial lines and specialty.

With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.

At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.

• Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe
• Robust support for Flexible Working Arrangements
• Enhanced family friendly leave benefits
• Named to the Diversity Best Practices Index
• Signatory to the UK Women in Finance Charter

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.

• Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
• Addressing climate change: The effects of a changing climate are far reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
• Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
• AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

For more information, please see axaxl.com/sustainability

AXA XL is an Equal Opportunity Employer.

Location : AU-NSW-Sydney Work Locations : AU NSW Sydney 123 Pitt Street 123 Pitt Street Angel PlaceLevel 28 Sydney 2000

Schedule : Full-time

Job Type : Standard

AXA XL is an Equal Opportunity Employer and does not discriminate against any colleague or applicant for employment on the basis of race, color, national origin, religion, sex, gender identity and/or expression, sexual orientation, age, disability, genetic information, veteran status, military status or any other category protected by local law.