Delegated Authority Analyst / Underwriting Assistant
Delegated Authority Analyst / Underwriting Assistant - Pre-Bind, PBQA, Due Diligence, Casualty & Specialty Reinsurance, Delegated Authority Business, Binder Arrangements, Renewals and Onboarding, DCA / MGA Liaison, Bordereaux Reporting, MS Excel, PowerBI, Sharepoint, Stakeholder Engagement. Permanent, London/Remote (Hybrid). £65k - £70k +Bonus +Benefits
Delegated Authority Analyst / Underwriting Assistant sought by global Reinsurance company operating primarily within the Casualty and Specialty markets.
***NOTE: This vacancy is offered by the IT Recruitment Division of Comtecs and is based within a Global Reinsurance Corporation, with HQ based in the London.***
You will undertake operational support work relating to delegated authority business which will involve liaison with brokers and underwriters to support the onboarding of new clients, MGAs, coverholders to undertake due diligence processes prior to establishing binder arrangements. The Delegated Authority Analyst / Underwriting Assistant will:
* Liaise with Underwriters who engage with the coverholders and DCAs (Delegate Claims Administrators) to support onboarding of new clients and management of new business
* Undertake due diligence processes including pre-inception due diligence/ pre-bind quality assurance (PBQA) assessment and thecollation of key documents and information
* Work to ensure that the Coverholder/DCA understands Conduct Risk and the Insurance Distribution Directive and complete application information is collated for both Lloyd's and Customer Relations Committee (CRC) approval
* Review all line slips prior to bind/contract arrangement, setup endorsements and exceptions within the appropriate system(s)
* Provide insight and analysis relating to ongoing business through the management of data within MS Excel and PowerBI generating relevant reports for brokers, underwriters and internal management stakeholders inc data relating to Estimated Premium Income (EPI)
This is an operational role within the insurance environment and as such we are searching for a Delegated Authority Analyst / Underwriting Assistant / Pre-Bind Due Diligence Analyst / Insurance Compliance Analyst / Auditor. You may have moved into one of these Compliance or Audit type roles and be keen to return to a mixed role working across the whole process from pre-bind through to audit. You will:
* Be comfortable liaising with both broker and underwriters in Pre-Bind / Compliance duties
* Have a strong understanding of binder arrangements and the delegated authority process.
* Be familiar with line slips management and the pre-bind due diligence process, particularly in relation to Lloyd's and Customer Relations Committee regulations and Insurance Distribution Directive requirements (IDD.
* Have undertaken Bordereaux analysis and reporting at some stage in your career and be familiar / aware of BDX systems such as Watertrace and other relevant systems such as Appian. Confident in your use (at intermediate level at least) with MS Excel and/or PowerBI
You may have been working in either an Insurance Underwriters, Reinsurance Company most recently or have a background in Financial Services. We are open to experience in terms of class of business but any exposure to Property and Casualty risk would be highly beneficial. You will however have worked with and understand the delegated authority business model and the binder agreements and specifically, the pre-bind process and compliance/auditing processes related to this field.
Exceptional opportunity to join and well-respected, global reinsurance firm with a view to a career within operational and analysis capacities. City of London location with hybrid working – 4/1. Excellent benefits and career progression opportunity. Please note that 1st stage interviews will be undertaken face-to-face with subsequent interviews completed via MS Teams.