Delegated Authority Business Partner

3 weeks ago

London, United Kingdom Lawes Group Full time

**Role Title: Delegated Authority Business Partner**

**Location: London**

**Salary: £50k - £62,250**

**PURPOSE OF THE ROLE**
- To work as a delegated underwriting specialist to ensure that the companies Coverholders (and other third parties) and binding authorities are managed in line with syndicate procedures, regulatory requirements and best practice.
- To support the monitoring and oversight of Coverholders and other third parties including TPAs and brokers.
- To implement and administer best delegated underwriting management practice across the company, participating in change projects and improvement initiatives to achieve this aim.
- To provide strong stakeholder engagement for delegated underwriting across the business and with our customers, including Coverholders and brokers.

**MAIN DUTIES**:
New Binders:

- Approval of new Coverholders and binding authorities (including direct deal and service companies) in line with the companies procedures, regulatory requirements and best practice.

Renewal Binders
- Processing and approval of binding authority renewals (including direct deal, strategic multi-class relationships and service companies) in line with the organisation’s procedures, regulatory requirements and best practice.

Lineslip, Consortia and Master Policies:

- Reviewing, processing and/or advising on lineslip, consortium and master policy arrangements at inception and renewal in line with the companies internal policies and Lloyd’s requirements.

Audit:

- Review audit reports (including for TPAs) and ensure audit recommendations are appropriate,
- RAG rated, time bound, centrally recorded and communicated to all stakeholders in a timely manner.
- Track associated recommendations to completion in a timely manner, ensuring any issues are escalated appropriately.
- Assist in audit scoping and the preparation of auditor packs, including for TPAs.
- Support the Delegated Authorities Manager in managing the companies panel of auditors, including ongoing performance assessment and maintenance of relationships
- Assist in audit scoping and the preparation of auditor packs.

Broker Management:

- Production and issuance of Terms of Business Agreements.
- Support service companies in the development of broker management processes and terms of business agreements.

Offshore Management:

- Assist other team members to respond to queries where required.
- Support the Delegated Authorities Manager to manage the offshore team’s quality and productivity.

Quality Checking:

- Quality review of output produced by Coverholder Executives and the offshore team, where required.
- Operation and oversight of controls in line with their risk management framework.

Reporting:

- Delivery of meaningful reporting to all relevant stakeholders (including underwriting divisions and the DMC).

Change Projects:

- Monitoring and evaluating changes in the regulatory environment and implementing solutions as required to meet regulatory requirements.
- Evaluating, suggesting and implementing other changes as required to improve effectiveness and efficiency of processes and controls, including specifying, testing and improving systems where applicable.
- Participation in other company projects where required to provide delegated underwriting expertise.

Breaches and Problem Cases:

- Identification, management and resolution of delegated underwriting breaches and problem cases.

Stakeholder Management & Communication:

- Strong and effective communication within the team and with all internal and external stakeholders, including senior management.
- 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.

Decision Making Responsibilities:

- Approve and renew Coverholders, binders, other facilities and broker TOBAs in line with their documented policies and procedures and/or risk appetite.
- Closure or escalation of audit recommendations or other issues.

**EDUCATION, QUALIFICATIONS**
- Educated to at least A-level or equivalent.
- ACII qualification preferred.
- Good knowledge of insurance industry practices and current regulatory requirements including Lloyd’s & FCA requirements for Coverholder management.
- Very strong communication and interpersonal skills - ability to assertively challenge whilst maintaining positive working relationships.
- Strong computer and analytical skills including Microsoft Office.
- The ability to work well within a team as well as under minimum supervision and on own initiative.
- Good attention to detail coupled with the ability to see the big picture and drive strategic initiatives.
- Excellent organisational and time management skills, ability to prioritize sensibly and meet deadlines.
- Ability to make sensible judgements balancing pragmatic

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