Senior Delegated Underwriting Analyst
3 weeks ago
Job Title: Senior Delegated Authority Analyst
Entity: Rokstone Underwriting
Department: Operations
Reports to: Head of Delegated Underwriting Authority
Location: London/Hybrid
Who We Are
Rokstone, part of the Aventum Group, is an established international underwriting MGA and approved Lloyd’s of London coverholder, where we also hold a Lloyd’s Box. With innovation at our core, we go beyond the ordinary to offer brokers specialised (re)insurance solutions. Within Rokstone, we house specialist MGAs such as Novus, iSure and iFarm, each contributing to our commitment to redefining industry standards.
At the heart of Aventum are our people. Our employees collaborate in dynamic, service-focused teams. Together, we strive daily to achieve our goals and objectives with a shared dedication to revolutionising the insurance industry for the better.
The Company offers a competitive benefits package via a flexible benefits platform. In addition to core benefits, employees can tailor their benefits according to their individual needs.
Employee development is key to the ongoing development of Aventum on the whole. We invest in our people, empowering them to grow their careers and advance within the Group. Our dynamic culture is rooted in the continuous desire of our people to learn and challenge themselves.
Role Summary
We are seeking a Senior Delegated Authority Analyst to join our Operations Team in London. This role requires a minimum of 5 years of experience in the Delegated Authority space, with a strong preference for candidates possessing end-to-end knowledge of Delegated Authority agreements.
Your expertise will be crucial in onboarding new binders and facility structures, ensuring a comprehensive understanding of how various areas of a Delegated Authority impact functions within a large MGA, including bordereau management, IBA, claims, compliance, exposure management, and various underwriting teams. You will also assist the Head of Delegated Authority in compliance matters, audits, Coverholder applications, and additional duties as the business and department grow.
Role Accountabilities
Portfolio Management
- Take ownership of the company’s delegated authority facilities whilst overseeing the renewal process in collaboration with the teams DA Analyst, ensuring timely and accurate placement of all facilities. Lead strategic discussions to enhance portfolio performance.
Strategic Delegated Authority Management
- Utilise advanced expertise to evaluate, negotiate, and manage delegated authority arrangements effectively, ensuring alignment with the company’s strategic objectives and risk appetite.
Retrocession Contract Oversight
- Lead the negotiation, placement, and ongoing management of retrocession agreements, ensuring optimal coverage and risk management whilst sharing your knowledge in best practices with existing team members.
Compliance and Regulatory Oversight
- Ensure compliance with all relevant regulatory requirements, industry standards, and internal policies throughout the reinsurance placement process while actively monitoring changes in regulations and adapting practices accordingly. This includes enhancing compliance frameworks by identifying areas for improvement and implementing best practices to mitigate risks, as well as managing Lloyds Coverholder applications by overseeing the submission, evaluation, and approval processes to ensure they meet necessary regulatory standards.
- Respond to internal and external audits by preparing necessary documentation, addressing findings, and implementing corrective actions to foster a culture of compliance and continuous improvement.
Onboarding and Facility Structures
- Spearhead the onboarding of new binders and facility structures, requiring a thorough understanding of Delegated Authority agreements and their implications across various business lines, including specialty, consumer, and commercial lines.
- Strategic Reporting and Analysis
- Collect and analyse data from underwriting teams, claims departments, and other relevant sources to prepare comprehensive reports on portfolio performance. Present insights and strategic recommendations to senior management and assist in the development of renewal presentations as needed.
Collaboration with Leadership
- Work closely with the Head of Delegated Authority to support strategic initiatives and operational improvements. Assist in decision-making processes and contribute to the overall direction of the delegated authority function whilst providing support to existing team members, fostering their professional growth and enhancing team capabilities.
Role Requirements
- 5 years of experience in the Delegated Authority space, with a strong preference for candidates possessing end-to-end knowledge of Delegated Authority agreements.
- Experience in reinsurance, specifically with a focus on binders, delegated authorities, and retrocession contracts.
- Strong knowledge of the London insurance and reinsurance market, including an understanding of market practices, key players, and regulatory frameworks.
- Proven track record in managing Delegated Authority portfolios is preferred, with a demonstrated ability to handle complex renewals and negotiate favourable terms.
- Qualification in a related field (e.g., insurance, finance, business administration) is preferred.
Skills and Abilities
- Excellent communication and relationship-building skills, with the ability to collaborate effectively with internal and external stakeholders.
- Analytical mindset with the ability to assess risks, conduct data analysis, and make informed decisions.
- Strong organisational skills and attention to detail, with the ability to manage multiple priorities and meet deadlines.
- Proficiency in relevant software applications and tools, such as MS Office suite and reinsurance management systems as applicable.
Management Duties
- No
We are an equal opportunity employer, and we are proud to share that 93% of our employees say they can be themselves at work. We aim to hire our industry's finest people because the best people drive the best outcomes. And we forever challenge the status quo because we know there are always ways to improve things. Because together, we're limitless.
We value applicants from all backgrounds and foster a culture of inclusivity. We understand the need for flexibility, so work in a hybrid model. Please let us know if you require any reasonable adjustments during the recruitment process.
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