Underwriter Trainee, Trade Credit (Finance)
Job Objectives
We are seeking a Trade Credit Underwriter Trainee. The person in this position will be in an entry level role to learn the functions of the trade credit underwriting process and technical skills. They will provide a support role to the underwriters they work with, assisting in the new business submission and renewal process, along with administrative policy management. There may be some limited travel requirements. In addition, to working with the underwriting team, the role will involve communication with external clients as well as other Allied World partners to fulfil the requirements of the position. This is a great opportunity to learn the Trade Credit insurance product and build a knowledge base that can be expanded upon in time. There is an opportunity for advancement over time. The position will be located in New York.
Duties and Responsibilities
· Provide underwriting support to the underwriters in the region – application processing and input, preparation of underwriting tools for new and renewal business and related tasks
· Assist the underwriters in the execution of the business plan for the growth of Trade Credit portfolio
· Analyze applications with an aim to eventually make recommendations on specific opportunities. Learn how to prioritize and evaluate submissions to identify those accounts that provide the greatest opportunity for profit consistent with the business plan and corporate profit objectives
· Assist the underwriting team in collecting the necessary information to be able to make credit decisions and structure quotes
· Assist the Credit team in the activity of preparing analysis, assigning ratings and setting credit aggregate limits
· Work with the Ops Lead to manage documentation and other administrative tasks that go along with policy issuance
· Ensure information is input into the in-house systems in an accurate and timely manner
· Learn the pricing model and mechanism for the trade credit product
· Work with underwriters to insure all information is saved in accordance with internal audit requirements
· Learn the components of underwriting and business development that will lead to a successful career in the trade credit insurance line of business.
· Undergraduate degree required
· 0-2 years of professional experience
· Willingness to learn and take initiative
· Financial statement analysis skills (accounting / business background a plus)
· Proficiency in Microsoft Office Suite (Excel, Word and PowerPoint)
· Excellent communication (both written and verbal) and interpersonal skills
· Strong attention to detail and quantitative skills
· Ability to work to deadlines and prioritize tasks
Compensation
$50,000 - $70,000
The annualized base pay range is a broad range based on analysis of similar positions in the market. The actual base pay for the position may be above or below the listed range and determined by a number of considerations, including but not limited to complexity, location, and scope of the role, along with experience, skills, education, training, and other conditions of employment. Base salary represents one component of Allied World's comprehensive total reward package, which may also include annual incentive compensation rewards.
Our Business
Allied World Assurance Company Holdings, Ltd, through its subsidiaries, is a global provider of insurance and reinsurance solutions. We operate under the brand Allied World and have supported clients, cedents and trading partners with thoughtful service and meaningful coverages since 2001. We are a subsidiary of Fairfax Financial Holdings, Limited and benefit from a strong capital base and a worldwide network of affiliated entities that allow us to think and respond in non-traditional ways.
Our generous benefits package includes: Health, Dental and Disability Insurance, a company match 401k plan, and Group Term Life Insurance. Allied World is an Equal Opportunity Employer. All qualified applicants will be considered for employment without consideration of any disability, veteran status or any other characteristic protected by law.
To learn more, visit awac.com, or follow us on Facebook at facebook.com/alliedworld and LinkedIn at linkedin.com/company/allied-world.
