First Party Wordings Specialist - Property

We are currently seeking a First Party Wordings Specialist to join an international insurance company in Madrid. This position plays a key role within the Property division, ensuring quality control and compliance of policy wordings across all First Party lines of business. The successful candidate will work closely with underwriters and the Head of Wordings to develop, review, and launch new insurance products while maintaining the highest legal and regulatory standards.

Key Responsibilities

• Supervise and administer quality control on all wordings and endorsements within First Party lines of business.

• Ensure all documents are aligned with internal RAG standards and local jurisdictional requirements.

• Liaise with underwriters in drafting new wordings and launching new products.

• Monitor, review, and chase outstanding documentation from brokers.

• Advise underwriters on the merits and implications of forms and clauses used in contracts.

• Develop best practices and contribute to the creation of standardized guidelines for wording processes.

• Liaise with brokers regarding changes to submitted wordings and ensure compliance with regulatory requirements.

• Stay updated on legal and legislative developments affecting the business and communicate relevant updates internally.

• Provide training and guidance to underwriting and claims teams on legal, regulatory, and wording matters.

• Maintain the policy wording database and ensure accuracy in all administrative processes.

• Conduct bi-annual audits of all wordings and endorsements to ensure full compliance.

• Draft and review policy wordings and endorsements across all relevant business areas.

• Ensure all wordings comply with Conduct Risk legislation and internal standards.

Skills & Abilities

• Strong command of English, both written and spoken.

• Excellent drafting skills with attention to detail and contractual accuracy.

• Negotiation and analytical skills with the ability to interpret complex contracts.

• Strong understanding of insurance wordings and market standards.

• Proficient in MS Office (Excel, Word, Access).

• Ability to manage time effectively, meet deadlines, and prioritize tasks.

• Team-oriented with the ability to work independently when required.

Knowledge & Experience

• Proven experience in the insurance industry, ideally within First Party or Property lines.

• Experience working in an international business environment.

• In-depth knowledge of insurance wordings, regulatory frameworks, and compliance requirements.

• Solid commercial and financial awareness.

Personal Attributes

• Self-motivated, flexible, and proactive.

• Professional, diplomatic, and capable of building strong working relationships across teams.

• High ethical standards and customer-focused mindset.

Competencies

• Analytical and conceptual thinking

• Information seeking and problem-solving

• Customer focus

• Team collaboration

• Initiative and accountability