Job Description
New role in DA audit management 2/3 Coverholder and 1/3 DCA agreements, taking responsibility for analysis of audits, and ensuring that Coverholders and DCAs are operating appropriately. Ensuring relevant, tailored audit scopes and risked based oversight programmes are implemented specific to risks posed by different businesses
• Embed operational Risk Management in the processes, ensuring that business risks are identified & reported
• Ensure fair customer outcomes & commerciality when decision making.
• Comply with appropriate procedures and regulations.
• Ensure the quality and timeliness of audit data.
• To provide technical expertise to the business on all aspects of delegated authority business.
• Support the development and enhancement of audit policies, procedures and processes
• Support the oversight and performance management metrics
• Supporting Audit Manager in the annual and quarterly review process for audit scheduling & preparation of the annual Coverholder and DCA audit plans.
• Scheduling Coverholder and DCA annually and each quarter per the agreed audit plan.
• Analysing and processing audit reports for both Coverholders and DCAs, ensuring that issues are identified, followed up and escalated in accordance with DA Audit procedures.
• Communication with the business, and where relevant market stakeholders, to determine appropriate actions to be taken for each Coverholder and DCA.
• Assist with the monitoring the closure of audit assignments upon satisfactory conclusion, including but not limited to; participate in closing meetings, committee presentation, preparing high level documentation for discussion with and review by internal stakeholders.
• Scoping of audits for Coverholders and DCA’s on a quarterly or adhoc basis; including the agreement of audit fees in line with agreed procedures.
• Prepare, compile and submit monthly report of open and overdue audit recommendations to each underwriting division / team.
• Prepare and provide regular analysis and Management Information on audit plan progress, performance and areas of concerns to the Audit Manager and Head of Delegated Authority for review.
You must have a solid understanding of DA processes within the Lloyds market. You may have come from a DA Claims role and want to move into DA Auditing or could be working as an auditor presently. You must be able to read and action Audit reports and act as a technical referral point.
The syndicate are going through a large transformation so your ability to support and work within change is essential.