Underwriting Officer, Multi-Buyer Trade Credit

Liberty Specialty Markets (www.libertyspecialtymarkets.com) is one of the largest specialty insurers in the Insurance and Reinsurance market.  It has over 1,700 employees in 22 offices throughout the Americas, Europe and Asia, and is a subsidiary of global insurer Liberty Mutual Insurance Group.

Liberty Specialty Markets also benefits from the full financial strength of the Liberty Mutual Insurance Group, a Boston-based US Fortune 100 company. Liberty Mutual Insurance Group offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety. Liberty Mutual Insurance Group (www.libertymutualinsurance.com) employs over 50,000 people in more than 800 offices throughout the world.

Key Purpose of Role

Analyze and manage credit risk in support of Multi-Buyer Trade Credit (MBTC) insurance in accordance with the business plan set forth for Liberty Specialty Markets (LSM) West – Financial Risk Solutions (FRS) and within delegated underwriting authority.

RESPONSIBILITIES

Strategy and Planning

• Support the development of FRS - MBTC and ensure robust management of the portfolio of credit risk generated in growing the MBTC business
• Contribute and participate in LSM and FRS meetings to share and develop strategy, knowledge and best practices
• Support the construction and optimization of the MBTC technology platform
• Contribute new ideas and concepts to make the business better

Delivery

• Conduct credit reviews of buyer/obligor financial statements, and set or recommend appropriate limits, aggregates and risk ratings based on the buyer’s credit and financial strength
• Provide excellent service and prompt turnaround to client and broker requests
• Establish and strengthen relationships with clients, brokers, industry bodies, business and consortium partners, and colleagues to maximize influence and achieve business objectives
• Ensure entries are properly recorded into relevant systems in a timely manner while ensuring accuracy of data in relation to both underwriting and aggregate exposures
• Travel to attend client and market meetings and conferences to build out the business strategy
• Present LSM and FRS strategy and data to both internal and external stakeholders on an ad hoc basis 
• Continually develop expertise and technical knowledge through appropriate development initiatives
• In conjunction with the FRS risk management team, contribute to and influence the review and analysis of the overall credit risk portfolio
• Engage internally to further develop and enhance risk and pricing models
• Interact with the Claims team on claims matters
• Conduct periodic reviews of underwriting files in support of the Peer Review process

Policy, Process and Procedures

• Comply with all applicable internal and external laws, regulations, policies, procedures and guidance
• Adhere to underwriting standards, instructions and best practice methodology to minimize risk as incorporated into the Underwriting Controls Framework

• Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to placing customers at the center of our business and behaving with integrity.  LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviors at all times. These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

People Management

• Help to train and develop knowledge of the junior members of the FRS team via formal and informal training sessions
• Act as a referral point for junior members of the team on risk enquiries
• Utilize resources across the team to ensure business requirements are achieved
• Manage performance in accordance with the company’s performance process

Knowledge, Skills & Experience

• Strong interpersonal and communication skills
• Strong credit and financial risk analysis skills
• Strong negotiation, organizational and prioritization skills
• Minimum 10+ years working in the Financial Services sector, preferably in an insurance company’s credit and political risk insurance team, the credit/loan/syndication function of commercial or investment bank, or a Public Agency engaged in credit and/or political risk insurance or direct lending function
• Bachelor’s degree is required with Business/Finance degree preferred. MBA preferred.
• Strong understanding of the drivers of Financial Institutions’ use of risk mitigation products
• Experience in Emerging Markets credit risks
• Use of risk profiling and pricing tools and loss models
• Strong economic, political, and current affairs understanding and knowledge

Pay Philosophy: The typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications, and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.

As a purpose-driven organization, Liberty Mutual is committed to fostering an environment where employees from all backgrounds can build long and meaningful careers. Through strong relationships, comprehensive benefits, and continuous learning opportunities, we seek to create an environment where employees can succeed, both professionally and personally.

At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.

We are dedicated to fostering an inclusive environment where employees from all backgrounds can build long and meaningful careers.  By actively seeking employee feedback and amplifying the voices of our seven Employee Resource Groups (ERGs), which are open to all, we create an environment where every individual can make a meaningful impact so we continue to meet the evolving needs of our customers.

We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits

Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.

Fair Chance Notices

• California
• Los Angeles Incorporated
• Los Angeles Unincorporated
• Philadelphia
• San Francisco