Senior Delegated Underwriting Audit Analyst

As a leading provider of insurance and reinsurance with worldwide operations, we recognise that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry.

Sompo has a unique opportunity for a Senior Delegated Underwriting Audit Analyst in our Delegated Underwriting Audit team. The Delegated Underwriting Audit function at Sompo involves various activities across our company platform. The Senior Delegated Underwriting Audit Analyst plays a critical role in ensuring the quality and compliance of our delegated underwriting arrangements. This position is responsible for conducting thorough audits and providing strategic recommendations to enhance our underwriting practices.

In order to deliver our strategy, you will need to be continually flexible and adaptable to change. Accuracy, strong attention to detail, efficiency and strong communication skills are essential to all that we do and this team is critical in driving change at Sompo.

Location: This position will be based out of our London office. We strive for collaboration which is why we offer a work environment where our employees thrive and develop long lasting careers.

What you’ll be doing:

• Liaise with Audit Manager, underwriters, claims (where appropriate), external audit firms on Sompo’s Audit panel and other managing agents to coordinate the program of Coverholder and TPA audits.
• Ensure extended Audit scope is applied to scheduled audits that require reviews of specified area of focus.
• Review audit reports for quality and adherence to Sompo’s audit scope ensuring final recommendations set are SMART.
• Follow up and escalation of open audit recommendations to ensure completion in line with agreed SLAs.
• Review evidence and close audit recommendations in liaison with Underwriters, Coverholders, TPAs and brokers as required.
• Ongoing participation in the review and development of the Delegated Authority audit policy and audit scope.
• Assist with the ongoing performance monitoring of external audit firms.
• Conduct detailed audits of BAA and TPA agreements to ensure compliance with company policies and regulatory requirements.
• Prepare comprehensive audit reports that clearly communicate findings, conclusions, and recommendations to senior management.
• Monitor industry developments and regulatory changes to ensure continuous adherence to best practices.
• Provide mentorship and guidance to junior audit analysts, fostering a collaborative and knowledge-sharing environment.
• Participate in cross-functional projects to drive process improvements and enhance the efficiency of the underwriting audit function.
• Act as the primary point of contact for all Delegated related queries and liaison between stakeholders.
• Ad hoc tasks as directed by Line manager.

What you’ll bring:

• Minimum of 3/4 years’ experience working within an Insurance Company or Lloyd’s Managing Agent.
• Experience with reviewing MGA’s and/or TPA’s, alternatively from a due diligence background.
• Competent in use of all MS Office tools (Word, Excel, PowerPoint to a moderate extent).
• Ability to work with minimal supervision, and able to deliver outputs based on given priorities, achieving tasks within tight deadlines.
• Good interpersonal skills to build relationships within the organisation and inspire trust.
• Detail-oriented with a strong commitment to accuracy and integrity.
• Excellent communication skills, both written and verbal, with the ability to present findings to a diverse audience.
• Strong analytical skills with the ability to interpret complex data and make strategic decisions.

Our Benefits

We continuously evaluate and update our benefit programs to ensure that our plans meet the needs of our employees and their dependents. Below are a few highlights of our inclusive benefit programs:

• Expansive Health & Wellness Benefits
• Generous Retirement & Savings Plans
• Global Parental Leave & Adoption Assistance

In today’s world, what do we stand for? We strive to create exceptional value for our clients and shareholders while maintaining Sompo as an attractive place to work. We foster an environment of ongoing, open dialogue between managers and their direct reports, and believe in an organizational environment where everyone belongs. We proudly are a multi-racial, multi-cultural, global enterprise. We reject all forms of racism, bigotry, prejudice and injustice and continue to invest in building out an inclusive and diverse work environment.

About Us: Expert Partners. Clarity in complexity. Unwavering commitment. We’re Sompo, a global provider of property, casualty, and specialty insurance and reinsurance. Building on Sompo Holdings’ 130 years of innovation, we’re committed to applying all of our experience to simplify yours.