Role Title: Assistant Underwriter

Department: Reinsurance

Team: Financial Risks Reinsurance

Location: Madrid

Type: Permanent

About the Role:

The role will involve supporting underwriters across the Cyber, Personal Accident and Contingency, Crisis Management and Innovation classes, with a focus on Cyber. This will cover the following:

- Assisting with the underwriting of reinsurance programmes in accordance with the business plan and within delegated underwriting authority, including the use of actuarial pricing tools, preparation of underwriting recommendations and review of contract wordings.
- Maintaining all procedures and processes created by the department to ensure a consistent underwriting approach and good data quality.
- Contributing to the strategies and goals of the department.
- Working in a team environment and supporting other team members. The role will also involve liaising with other departments within the company, including actuarial, claims, operations, compliance, finance and other underwriting teams.
- Communicating and meeting with reinsurance brokers and clients across Europe.

About the Department & Team:

The Financial Risks Reinsurance (FRRI) department is part of Liberty Mutual Re. The FRRI Underwriting team writes circa $1bn integral reinsurance portfolio that includes many different specialty classes. We write both proportional and nonproportional treaty reinsurance structures.

The team is based in multiple offices, including London, Paris, Bogota, Sao Paulo, Miami, Bermuda, Cologne, Amsterdam, Milan and Madrid, and we aspire to work as one global team.

Key Responsibilities:

Strategy and Planning

- Follow the annual business plan for the Underwriting division in order to make appropriate decisions and support the team.
- Contribute to and participate in meetings in order to share and develop strategy, knowledge and best practice.
- Contribute, as required, to the planning process through research and preparation of relevant materials.
- Support the achievement of the team’s objectives and contribute to the development of the portfolios.

Delivery

- Maintain relationships with customers, brokers, business partners, clients and colleagues to achieve business objectives.




- Develop knowledge of market dynamics and market cycles to support the performance of the underwriting team.
- Assist in the underwriting of reinsurance risks in accordance with the business plan to meet business objectives.
- Support the review and analysis of the portfolio, to identify progress towards business objectives.
- Process entries, as required, properly onto relevant systems in a timely manner, ensuring the accuracy of data relating to both underwriting and aggregate exposures.
- Ensure entries are properly recorded onto relevant systems. Help maintain all aggregate exposure management tools the team use.
- Maintain and develop expertise and team knowledge through appropriate development opportunities.
- Work collaboratively with colleagues across the global Financial Risks Reinsurance team.

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 methodologies in order to minimise risk.
- Maintain accurate and complete underwriting records and ensure that all relevant systems and processes are updated promptly.
- Support the consistent application of departmental procedures and controls.
- 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 our Liberty Values, placing customers at the centre 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 behaviours at all times.



These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience:

- An understanding of or a demonstrable interest in the relevant market conditions for Cyber Reinsurance.
- Experience gained within the Insurance/Reinsurance market.
- Ability to work effectively in a team environment and collaborate with colleagues across multiple locations.
- Fluency in English and Spanish is required. Other language skills would be advantageous e.g. German
- Good knowledge of legal and regulatory requirements.
- Using actuarial pricing tools based in Excel and online will be required.
- High level of numeracy and literacy skills.
- Good interpersonal and communication skills.
- Strong organisational and prioritisation skills.
- Strong attention to detail.
- Ability to analyse and use data to support decision-making.

About Liberty Mutual Reinsurance:

Liberty Mutual Reinsurance is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.

Our people are key to our success. That is why “Put People First” is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

- Offering a vibrant and inclusive environment and committing to their career development.
- Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
- Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
- A supportive culture, which includes promoting a healthy work-life balance and working flexibly.

For more information, please follow the links below:

https://www.libertymutualre.com/careers/working-for-us https://www.libertymutualre.com/careers/diversity-inclusion-wellbeing/inclusion-matters-networks

📌 Assistant Underwriter: Cyber Reinsurance (Madrid)
🏢 Liberty Mutual Reinsurance
📍 Madrid