Arch

  • Underwriter Trainee - Corporate Underwriting

    Job Locations US-MN-St. Paul
    Job ID
    2018-1865
    # of Openings
    1
    Category
    Corporate UW
  • Overview

    The Company

     

    Arch Insurance Group is a market-leading specialty insurer providing property, casualty and a wide range of specialty insurance for corporations, professional firms and financial institutions around the globe. From product development to policy servicing to claims payment, we are dedicated to providing our customers with superb coverage and service.

     

    A subsidiary of Arch Capital Group Ltd., Arch Insurance employs disciplined underwriting and prudent risk selection across all types of business. We have offices in the United States, Canada, Bermuda, UK, Australia, and South Africa.

     

    Arch Capital Group Ltd. is a Bermuda-based company which provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Arch offers competitive pay and a comprehensive benefits package. Additionally, Arch is committed to helping its associates create what’s next by providing access to a variety of programs supporting your professional development and a culture that encourages innovation, collaboration and professional growth. We seek talent that thinks innovatively, values collaboration and will go the extra mile to serve our customers and develop our company.

    Responsibilities

    Description

    This position is intended for a candidate seeking growth opportunity in a dynamic organization.  The trainee will be a part of the Corporate Underwriting group, and will receive ongoing on-the-job exposure to all Arch business units through participation in Underwriting audits and reviews.  In addition, the candidate will gain exposure to various underwriting and business support units - including regulatory Compliance.  The trainee will be part of the company’s year-long Underwriter Training Program, and as such, he/she will participate with other trainees in formal classroom training which takes place in the Fall.  This is an intense, two-week training session which expands the trainee’s insurance knowledge and understanding of Arch’s strategy, culture, products, and services.  As a follow-up in the Spring, there is a one-week classroom session offering specific knowledge- and skills-building workshops.

     

    As the trainee develops skill and gains experience, on-the-job responsibilities will include but are not limited to:

    • Assist Corporate Underwriting in preparation of audit plans.
    • Conducting reviews of individual business unit files to assess adherence to corporate standards and business unit strategies.  These reviews will include an evaluation of underwriting:
      1. Exposure analysis specific to line of insurance being evaluated
      2. Policy contract review and rating
      3. Claims/loss review.
      4. Evaluation of financial exposures and account pricing.
    • Assist in preparation of written summaries and/or reports to communicate findings with management.

    Key Competencies

    Exemplary oral and written communication skills; analytical, with keen ability to think through issues from a variety of perspectives; familiarity with financial statements and comfort with quantitative analysis is a plus.  Other desired candidate attributes include the ability to organize and prioritize to meet multiple demands and commitments; strong work ethic; team player; and demonstrated leadership potential.

    Qualifications

    Education and Experience

    Four-year degree desired, preferably in Economics, Business, or Risk Management.  Candidates with other degrees, however, will be considered to the extent that they address the Key Competencies.

     

    Computer Skills

    Highly proficient with MS Word, Excel, Outlook

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