Main Purpose of the Job:
Supporting the management and monitoring of the Delegated Underwriting Authority (DUA) portfolio, as required by the DUA Manager and Chief Underwriting Officers of both trading platforms.
Contributing to the set up and ongoing operation of all DUAs and their compliance with relevant regulatory requirements.
Key tasks:
* Carry out due diligence to ensure delegated authority contracts (Binding Authorities, Consortia, Line slips, and Master/Group Policies) are within risk appetite standards, meeting necessary requirements, including regulatory compliance.
* Contribute to the review of Binding Authority contracts on behalf of the White Bear Group’s Lloyd’s Cover holder, and engage with brokers where necessary.
* Support the DUA Manager in the effective due diligence and management of all aspects of new cover holder applications to Lloyd’s.
* Support the Underwriters regarding analysing bordereaux data as required.
* Assist in the management of cover holder audits, contributing to the scheduling of relevant annual audits, processing audit reports, and the management of audit recommendations.
* Collaborate with other internal teams including; Underwriting, Operations, Finance, Compliance and Claims, to resolve day-to-day queries.
* Collate relevant MI for internal meetings, e.g. monthly Underwriting Committees, and help coordinate and report on data required for relevant regulatory returns when required.
* Contribute to the periodic review of Delegated Authority processes, written procedures and controls to ensure they remain relevant and fit for purpose.
* Support the DUA Manager in the review and evidencing of compliance with relevant Lloyd’s Principles.
Key personal skills required:
* Ability to work independently and consult appropriately
* Strong organisation, accuracy, and attention to detail.
* Ability to balance multiple priorities, by focusing on timely delivery of quality outputs.
* Excellent communication skills, both verbal and written.
* Strong people and communication skills.
Key technical skills, knowledge and professional qualifications required:
* In-depth experience of managing Lloyd’s Cover holder relationships and associated processes and regulations.
* Have a working knowledge of Lloyd’s DA systems including Atlas, DCOM, DAM, Wordings Repository etc.
* Ability to effectively engage with internal and external stakeholders of all levels, providing technical expertise and guidance on all aspects of DUA business and processes.
* Good understanding of Cover holder and Bordereaux systems.