Purpose of the Job
To undertake thorough risk analysis by vetting Brokers & Coverholders who create a potential credit or business risk to protect Brit Insurance’s balance sheet.
To provide financial security analyses of Brokers, Coverholders and other counterparties providing recommendations to the appropriate committee for final approval, when required.
Principal Accountabilities:
• Analysis of the financial security of Brokers, Coverholders and other counterparties used by Brit Group. This will include the analysis of income statements, balance sheets and cash flow statements.
• To acquire information on Brokers & Coverholders from the Internet published financials, direct from companies and through meetings with their senior management when necessary.
• To assist in the development of in house software models to indicate the financial security of Brokers & Coverholders.
• To maintain and update appropriate security lists.
• To attend and participate in security committees when required.
• To oversee the outsourcing of counterparty reviews for small UK based counterparties.
• Provide documentation and support to the Credit Committee as required.
• Assist in the setting of credit limits for counterparties.
• Liaise with underwriters and appropriate senior managers on financial reviews.
• To produce market information for benchmarking and carryout bench marking exercises.
Decision Making Responsibilities:
• Authorised to sign off CPRS reports/reviews up to £10 million for Brokers & Coverholders.
Education, Qualifications, Knowledge, Skills and Experience:
• Obtained a numerate degree or equivalent and good overall grade
• Qualified or part qualified accountant.
• Excellent analytical and numeric skills and excellent attention to detail.
• Good interpersonal and communication skills.
• Advanced IT skills, including Microsoft Excel and Word.
• Previous analysis experience covering balance sheets, profit and loss analysis and financial security of companies.