Delegated Authority Assurance Technician
Insurance
London
£48-55,000 D.O.E
Delegated Authority Assurance Technician is required to join a specialty insurance business which is part of a wider global insurance business on a permanent basis.
This role is part of a newly created function in the business to strengthen the business oversight and control of DA relationships.
About the Delegated Authority Assurance Technician role;
* You will be supporting the delegated authority audit and assurance teams
* Assist in the assurance that Outsourced Service providers are complying with contractual and regulatory requirements
* You will be assisting with audit preparation, drafting reports, tracking and analysis of audit findings along with reviewing information to check procedures are adhered to in order to minimise risk to the business and its policyholders.
Key Responsibilities of the Delegated Authority Assurance Technician role;
Audit
* Assist with annual audit planning and reporting
* To maintain audit systems and undertake data quality checks of such systems.
* To support the preparation and delivery of accurate and timely audits as per the DA Audit plan and audit methodology, including supporting and conducting fieldwork where directed and required.
* Supporting in the production of written Audit reports for Senior Management
* Ensure audit issues identified are followed up and satisfactorily addressed with the relevant stakeholders.
Assurance
* Assisting in the tracking and review of identified actions.
* Assist in the production of all regular MI reporting to the required Boards and Committees
* Contributes in undertaking trend analysis on audit findings and discusses with relevant SMEs to consider rectification on a wider business level.
* Monitor and record the results and progress of audits performed of approved Delegated Authority Arrangements, and externally validated reports of OSPs.
* Undertake Quality Assurance Reviews as part of the Quality Assurance and Improvement Programme of the Great Lakes Delegated Authority Audit Pillar.
* Participate in the ‘on-boarding’ of potential new Agents / Coverholders and or TPAs (due diligence) when required.
* Assist in the auditing of Sub-Third Party Service Providers (Sub-Agents or Sub-TPSPs) when required. This will include the carrying out audit fieldwork both onsite and remotely as required, this includes travel and opportunities for overseas travel
Regulatory and Conduct
* Provide support to colleagues within the Team or other business units or external resources for ad hoc requests, or longer-term projects
* Satisfying all regulatory reporting requirements in collaboration with the reporting function when required.
* Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.
Experience required for the Delegated Authority Assurance Technician role;
* Be prepared to Travel (both within UK and outside of UK)
* Experience of Audit and Assurance within an insurance setting ideally
* Ideally have a background in oversight and control
* Ideally have knowledge of legal contracts
* Data analysis experience
Benefits of the Delegated Authority Assurance Technician;
* Opportunity to travel abroad and around the UK
* 2 days office required
* 25 days holiday plus option to purchase more
* Private Medical Insurance
* 10% Pension Contributions
* 6 months Paid Family Leave
Please contact Chelsey Saxon for more information and to have a confidential discussion.