Junior Risk Analyst

2 weeks ago


Richmond, Virginia, United States James River Management Company Full time
Position Overview

The Junior Risk Analyst will operate under the guidance of the Underwriting Manager or Division Manager, focusing on the assessment and evaluation of underwriting data to ascertain whether risks align with corporate underwriting criteria. This role involves calculating suitable premiums, determining appropriate terms for acceptable risks, and communicating with brokers regarding risks that do not conform to underwriting standards.

Key Responsibilities

- Uphold and demonstrate the Core Values of Integrity, Accountability, Communication, Teamwork, Innovation, and Customer Service.
- Enhance understanding of essential insurance principles through on-the-job training, designated manuals, and self-directed study.
- Begin to evaluate submissions, analyze key exposures, price accounts, and complete necessary documentation.
- Make informed decisions to accept, modify, or decline risks.
- Achieve assigned premium, loss ratio, and service objectives.
- Fulfill policy maintenance obligations and verify the accuracy of issued policies.
- Review renewal applications and prior year files to confirm ongoing compliance with underwriting standards, preparing renewal files for quoting.
- Start to cultivate and nurture relationships with key wholesale broker clients.
- Travel periodically with an experienced Underwriter to engage with brokers, contingent on performance.
- Perform additional duties as required.

Qualifications

- Strong aptitude for learning effective risk assessment techniques.
- Commitment to pursuing a professional designation or relevant coursework within the first year of employment.
- Excellent verbal and written communication abilities.
- Capability to work autonomously or collaboratively to complete tasks within established guidelines and accepted underwriting practices.
- Proficient problem-solving and decision-making skills.
- Strong negotiation capabilities.
- Ability to manage multiple tasks simultaneously.
- High initiative and motivation with a robust work ethic.
- Solid customer service and relationship management skills.
- Proficiency in MS Office Suite (Word, Excel, Outlook) and internet research.

Experience and Education

- Bachelor's Degree or a minimum of 3 years of relevant experience.
- Preferred background in industry-related classes or courses.
- For Underwriter roles, a minimum of 2 years of related underwriting experience, ideally in Excess and Surplus lines.
- For Senior Underwriter roles, a minimum of 5 years of underwriting experience, preferably in Excess and Surplus lines, with a professional designation being advantageous.

Job Family
Underwriting

Job Sub Family
Operations

Pay Type
Salary
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