Wordings Assistant
Division: Operations and Support
Department: Contract Wording Management
Location: London
Type: Permanent
About the Role
Liberty Specialty Markets is looking for a self‑motivated Junior Wordings Assistant to work in close collaboration with the SME Consumer Wordings Specialist within the team. Given the level of the role they will initially work alongside the Wordings SME Consumer Wordings Specialist to expand their current understanding of (i) regulatory and internal requirements (ii) contractual requirements, (iii) drafting, and (iv) negotiation.
The role will also, as required, involve undertaking work for or on behalf of other team members supporting colleagues with related wordings tasks, providing cover during periods of high workload, or assisting on cross‑team projects.
About the Department & Team
The Contract Wordings Management team is currently made up of nine members reporting to the Head of Contract Wordings Management. The team offers underwriters skilled technical wordings analysis and drafting expertise in product development. Additionally, the team are also responsible for updating the underwriting and management teams on regulatory changes and to ensure that the wordings comply with the consumer and other requirements, where applicable.
Key Responsibilities
* Assist with designing and updating Consumer SME products initially working alongside the SME Consumer Wordings Specialist and in collaboration with Underwriters, management, Legal and various internal and external parties as necessary.
* Carry out work for other members of the Wordings team as and when required.
* Provide timely review of wordings and associated documentation and provision to underwriters of appropriate and solutions based feedback.
* Communicate and negotiate with external clients and LSM colleagues (in particular Conduct, Delegated Authority team, Underwriting, Claims, Legal & Compliance) in order to establish and build good working relationships.
* Maintain a good understanding of market developments (including evolving requirements of Lloyd’s and the FCA) that may impact on wordings and to keep relevant LSM colleagues aware of these.
* Contribute to strategic initiatives in the Wordings Team and provision of technical resource to other initiatives as required.
* Maintaining details of work requests to ensure accurate records are kept including assisting with maintaining and updating the team work tracker.
* Attending internal Departmental and Individual Business Units meetings.
* Attend market related lectures and keep up to date with general issues that may impact upon wordings.
* Assist in testing and providing feedback on potential use of software to assist in the wordings strategy.
Skills and Experience
* Some knowledge of wordings and the insurance industry and regulatory requirements relating to London Market placements of Consumer/SME products would be of benefit - for example experience gained in claims, legal, complaints handling, underwriting, broking or compliance/operations roles.
* Intent or progress towards the relevant qualifications.
* Ability to work in a tight deadline environment.
* Good organisation skills and prioritisation skills.
* Good interpersonal and communication skills.
* Good level of attention to detail.
* Possess flexibility and adaptability to manage changing work requirements and varying volumes of work proactively
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