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We have been instructed to work on behalf of a key insurance client of our's on an exclusive basis, to help bolster their Delegated Authority team during a period of continued growth.
One of the pivotal appointments is a Delegated Authority Oversight Manager. This is a rare and exiting opportunity, offering someone the ability to shape, develop and grow the team, where you can make you mark implementing new policies and procedures.
This will interest someone with proven insurance experience, in a similar Delegated Authority Oversight position seeking a fresh challenge, or someone perhaps in underwriting, actuarial, audit, risk or compliance ready for a new and interesting challenge. This is a hybrid role, with the expectation of 2 days each week in the office.
Job Description:
- To actively contribute to the development of the firms strategy and business planning and undertake best endeavours in their achievement, in the Delegated Authority manager role, by managing the governance, risk and assurance and the internal audit of our processes.
- To establish and operate controls that enable the business and their clients to treat customers fairly.
- To operate according to established controls that enable the firm and clients to treat customers fairly and keep the customers at the centre of the firms and clients’ businesses.
- To demonstrate a high work ethic and possess core knowledge and skills to support strategic objectives.
Duties & Responsibilities:
- Management of the firms Delegated Authority process including binder approval and Coverholders audits strategy and performance.
- Ensure the Coverholders audit programme is scheduled, monitored and subsequent audit recommendations are actioned.
- Accountable for due diligence in regard to contract checks and Coverholders pre and post bind approval processes to ensure compliance with the firms requirements and standards.
- Manage new product and facility onboarding process.
- Manage, review and control the ongoing fair value assessment program.
- Manage and control the delegation of underwriting authority to clients taking into account limits and individual competencies
- Work closely with underwriters and provide guidance to enable the correct management and monitoring of binding authorities
- Ensure bordereaux reviews are used as an effective tool in management of accounts.
- Understand and meet all legal, regulatory and compliance requirements within your area of responsibility
- Comply with agreed client service levels including timely and accurate response to client queries and referrals and investigation and resolution of complaints and service failures
- Act as team liaison with underwriting divisions, taking responsibility for understanding all delegated underwriting issues facing those divisions.
- Maintain knowledge of wider business practices and issues in other teams to facilitate a holistic approach to delegated underwriting management.
- Assist in the set up and development of new facilities and systems where required from first contact to implementation.
- Analyse new submissions for extensions to existing facilities and systems and manage external and internal processes from first contact to implementation.
- Work cross functionally with Compliance, Claims, Finance and Actuarial Teams.
- Conduct monthly review of contract data and underwriting results preparing reports for head(s) of Underwriting.
Skills & Competencies:
- Team player - Demonstrates flexibility and empathy and takes responsibility as required
- Delivering Results - Demonstrates commitment to the identified results, meets deadlines, is motivated and has a "can do" approach
- Regulatory & Compliance - Demonstrates an awareness of the regulatory environment and implements regulatory and compliance requirements as appropriate
- Proactivity & Initiative - Uses initiative, shares ideas and suggests improvements, constructively challenges the status quo
- Transparency - Operates in a fair, open manner, surfaces issues in a timely way
- Accuracy - Demonstrates diligence and attention to detail to ensure thoroughness and accuracy in tasks
