Senior Manager, Managing Agent Authorisation

Overview Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world. Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks. Our shared values: we are brave; we are stronger together; we do the right thing. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us. Newly created opportunity within the Market Development team, to lead the process to assess the suitability of a new Managing Agents to join the Lloyd’s market. You will build trusted partnerships with PRA and FCA counterparts in the authorisation and supervision teams to ensure aligned perspectives on applicants’ suitability and maintain open and transparent relationships. Responsibilities Project manage Managing Agent applications from first enquiry through assessment to authorisation (or declinature) and post‑authorisation activities. Judge the suitability of new Managing Agents to join the Lloyd’s market, documenting observations and conclusions. Engage with senior leaders of potential new and existing Lloyd’s businesses to understand their proposals and drivers for wanting to join / expand their presence in the Lloyd’s market. As part of this, ensure that they understand the rigour of the authorisation process, both in terms of time, human, and financial resources. Lead the drafting and editing of each ‘recommendation memo’ on which the PRA and FCA decision makers will base their authorisation decisions, ensuring there is clear consideration of the risks posed by the new Managing Agent from a Lloyd’s and UK regulatory perspective and how these risks will be mitigated post authorisation. Provide feedback to applicants on any areas of likely weakness in their application, with guidance as to how they may address these through the process. Lead discussions at Lloyd’s multi-disciplinary early review stage of the new entrant process, as well as workshops between applicants, Corporation colleagues (and PRA / FCA as required) to enable swift and effective decision-making on applicants’ suitability to join the market. Act as Lloyd’s lead subject matter expert on new managing agent authorisations, advising and guiding colleagues who are project managing their own Managing Agent applications. Own and edit all materials that describe the application process for new Managing Agents (both externally-facing materials, i.e. guidance to applicants on Lloyds.com, and the internal operating framework agreed between the PRA, the FCA and Lloyd’s). Qualifications & Experience Highly beneficial to the role would be: An understanding of the PRA & FCA’s requirements when authorising a new Managing Agency at Lloyd’s – in particular an understanding of governance structures, expectations under SMCR and the PRA and FCA threshold conditions. An understanding of Lloyd’s Principles for Doing Business, and how this oversight framework enables a holistic view of the risk posed to Lloyds, with practical examples of good and poor practice. Experience in a supervisory or authorisation role at the PRA, or to have direct experience of an authorisation process from an advisory capacity. Experience delivering difficult messages to stakeholders. Experience operating in a matrix environment engaging with and influencing cross-functional teams. Unprecedented levels of enquiries of New Entrants looking to join the Lloyd’s market, make this a very exciting time to join the team and lead the new entrant process to ensure that we continue to grow in a sustainable and profitable way as a market. Do you align to our values; Be Brave, Stronger Together and We Do the Right Thing If so, then please apply and come join the team #J-18808-Ljbffr