Senior Delegated Authority Analyst

#wspiKey Accountabilities & Role Requirements:

• To assist with Lloyd's and Non-Lloyd's coverholder applications (including Class of Business, Regional extensions, Branch office applications for Coverholders and Westfield Service Companies)

• Preparation of renewal slips and endorsements in respect of Service Companies throughout the contract period.

• Working with Underwriters and any other relevant stakeholders to structure, onboard, and manage Delegated Authority agreements; this includes Coverholders, Lineslips, Consortiums, Quota Share Treaty and Delegated Claims Administrator Agreements.

• To co-ordinate workflows for Coverholder and Binder/Lineslip/Consortia Contract management including workflow processes and compliance reviews 

• To ensure lead contract risk assessments are completed in accordance with the risk criteria set

• Produce statistics and reports when required including Control Packs and Committee papers on Due Diligence & Audit processes.

• To review weekly workflow and carry out required Quality Assurance process 

• To be a point of contact for Brokers, Coverholders, DCAs, Auditors and Underwriters for any queries, chasing for outstanding information when required

• Review of audit reports and distribution of relevant issues ensuring that recommendations are followed up and completed.

• Follow up, and escalation of open audit recommendations to ensure completion in line with agreed service levels.

• Maintain, update and circulate where required relevant information from Lloyd's, FCA, LMA or other local regulatory bodies and ensuring procedures are kept up to date as part of the due diligence and audit processes. 

• Assist on system testing and liaise with the IT and Business Change as and when required

• Ad hoc tasks as required

• Comply with all regulatory requirements for delegated underwriting and Westfield internal protocols and procedures

• Attend market forums and workshops as and when required to stay abreast of ongoing regulatory and market changes

• Preparing delegated governance reports for senior stakeholders, providing insights on key metrics on binder performance, KPIs, and SLAs.

• Reviewing and tracking delegated arrangements from application through to renewal, ensuring a smooth process.

• Working closely with internal teams to identify and implement process improvements, ensuring efficient oversight of delegated agreements.

• Acting as a key point of contact for Underwriters, helping to answer queries and provide guidance on delegated authority matters.

• Supporting the development of junior team members, sharing knowledge, and contributing to a collaborative team environment.

Skills & Competencies Required:

• Excellent attention to detail and a meticulous eye for identifying inconsistencies or inaccuracies in data entry or data outputs.

• Strong stakeholder management experience, with the ability to build relationships within the business at all levels as well as with external parties as required.

• Communication – ability to communicate well one-to-one and in small groups.  Keeps others informed and updated, Ability to write clear, precise and well organised documents

• Organisational Skills – ability to effectively prioritise, deliver on tasks and meet deadlines

• A proactive and problem-solving mindset, with the ability to take ownership of tasks and work independently as well as working well as part of a wider team.

• Strong experience in Delegated Authorities and good knowledge of Lloyd's, FCA/PRA and other regulatory standards

• Ability to act with due professional care, demonstrating sound integrity and confidentiality

Qualifications & Experience:

• Educated to at least A-Level; degree preferable

• Relevant professional qualifications e.g. ACII or desire to work towards

This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management. #wspi