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Delegated Authority Technician. £40,000 - £55,000
This well established and highly regarded Underwriters has an excellent market reputation and is now looking for a new person for their Delegated Authority team.
The successful candidates key focus is to administer best delegated underwriting management practices, participating in internal projects and market initiatives where required to achieve this aim. In addition, it is essential to provide strong stakeholder engagement for delegated underwriting across the Business and with Coverholders, brokers and Lloyd's.
Duties will include:
Facilitating approval of new Coverholders and Binding Authority Agreements
Handling Coverholder applications under the guidance of the Head of Delegated Underwriting Authority
Processing and managing approval of renewals including preparation of renewal data, annual due diligence, internal sign off documents, drafting agreements, pre bind quality assurance and registrations
Undertaking Conduct Risk review on new and renewal Coverholders and referring to the Product Oversight Committee where required
Resolution of audit recommendations relevant to the agreed portfolio of coverholders
Drafting of documentation for direct deal facilities, where required
Reviewing and managing sign off of lineslips and consortiums
Ensuring accurate risk entry and rating in the underwriting system, processing endorsements and updating systems where required for facilities managed
Ensuring account information is accurate and processed in Lloyd's delegated authority systems
Monitoring of premium income and commissions against booked estimates monthly
Attendance at the quarterly Delegated Authority Management Group
Participation on internal projects and meetings where required.
Handling the processing of bordereaux (written and paid) onto internal systems and Lloyd's systems.
Help to maintain internal logs related to receipt of bordereaux and its status of upload.
Monitor the quality of bordereaux data and resolving data issues by liaising with Underwriters / Coverholders & Brokers
