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- Tasks: Lead the Binding Operations team, ensuring accurate data capture and processing.
- Company: Join a fast-growing Specialty Insurance organisation with a dynamic work culture.
- Benefits: Enjoy up to 40% bonus, private medical care, gym membership support, and more.
- Why this job: Be part of a crucial team that drives efficiency and data quality in insurance operations.
- Qualifications: 10+ years in the insurance industry with strong management and operational skills required.
- Other info: Office-based role in Bishopsgate, perfect for those seeking a collaborative environment.
The predicted salary is between 54000 - 126000 £ per year.
MERJE are delighted to be partnered with a fast growing and dynamic Specialty Insurance organisation in their search for a talented Binding Operations Manager. This role is office based 5 days in Bishopsgate. As well as an excellent salary of up to £90,000, our Client offers market leading benefits that include:
- Up to 40% Bonus (20% on target)
- 12% non-contribution Pension
- Private Medical for you and your family
- BUPA Blue Health
- DenPlan
- 0% interest season ticket loan
- Up to £800 towards gym membership
- Free on-site Gym
- + much, much more.
Your new role: An essential part of the Technical Operations Team, and the purpose of the role is to manage and complete the risk capture and endorsement processing ensuring the capture of accurate and appropriate data, which is recorded in a timely manner.
Duties & Responsibilities
- Binding/Slip Processing
- Responsible for ensuring that the in-house and outsourced teams responsible for binding/slip processing maintain and own the entry and accuracy of data within the underwriting system of record from the underwriting slips for inwards business.
- Liaise and forge strong working relationships with key stakeholders.
- Responsible for ensuring the support of improving the Binding Operational function by reviewing existing processes and creating efficiencies.
- Attend the Underwriting and Marketing Conference Call (UMCC) meetings on a monthly basis to gain a better understanding of the underwriting rationale.
- Endorsement Processing
- Responsible for ensuring that the in-house and outsourced teams responsible for endorsement processing maintain and own the entry and accuracy of data within the underwriting system of record from the endorsements for inwards business.
- Outsourced Management
- Ensure SOPs are in place and are reviewed and updated on a quarterly basis to incorporate any changes to the processes or system improvements.
- Ensure SLAs and KPIs are defined and met by the outsourced provider including agreed processing volumes and quality performance related measurements.
- Earnings
- Responsible for the liaison with the Actuarial team so that all custom earning patterns are updated in the system of record by each month close.
- Data Quality
- Responsible for the maintenance and the ownership of the entry and accuracy of binding and endorsement data within Prequel.
- Responsible for ensuring that the in-house and outsourced teams are fully trained in each Line of Business and their processes by attending learning sessions and communicating with the underwriters and underwriting assistants.
- Ensure that all agreed data quality targets are met.
- Responsible for ensuring that all identified data quality errors are corrected by the following day after discovery.
- Responsible for the liaison with the Data Quality team to ensure that data failures are followed up with relevant knowledge training sessions to achieve continuous improvement in data quality.
- Where data quality issues are identified in relation to outsourced processing, work with the outsourced providers leadership team to ensure that root cause analysis is undertaken and ensure remediation plans are defined and implemented by the outsourced provider to prevent recurrence.
- Performance Monitoring & Reporting
- Responsible for ensuring that the team have a full understanding of the month end procedures and that all deadlines are completed in a timely manner, including the resolution of queries with the underwriters before month close.
- Manage and prioritise workload and take ownership of relevant responsibilities ensuring that all the SLAs are met on time with no exceptions.
- Responsible for ensuring the team fully support audits and that all action points arising from the audit are completed within the given deadlines.
- Responsible for the production of reporting for Management and Board meetings.
- Responsible for the maintenance of all Binding documentation including manuals, SLAs and KPIs.
- Participate in Project work and Process Improvement Initiatives as required.
Minimum Qualifications, Skills & Experience
- Minimum of 10 years experience in the Insurance industry.
- Demonstrated Operations/Management Experience.
- Experience in managing outsourced providers.
- A practical understanding of Underwriting and Policy Administration systems.
- Basic competency in MS Office applications: Word and Adobe Standard required.
- Advanced Outlook and Excel skills.
- Demonstrated ability to master new concepts quickly, take initiative and manage operations teams.
- Excellent communication skills and ability to work with all levels of management.
- Proven ability to develop and maintain relationships with key stakeholders both internal and externally across the Company.
- Ability to present and interpret reports to senior management.
- Proven prioritisation and time management skills with accurate results.
- Must be able to self-lead and work effectively both independently and with teams.
- Demonstrated ability to deliver and manage accurate thoughtful detail-oriented work within tight deadlines.
Contact Detail:
MERJE Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Binding Operations Manager
✨Tip Number 1
Familiarise yourself with the latest trends in the insurance industry, especially around binding operations and data quality. This knowledge will help you engage in meaningful conversations during interviews and demonstrate your commitment to staying updated.
✨Tip Number 2
Network with professionals in the insurance sector, particularly those involved in operations management. Attend industry events or join relevant online forums to build connections that could lead to referrals or insider information about the role.
✨Tip Number 3
Prepare to discuss specific examples of how you've improved operational processes in previous roles. Highlight any experience you have with managing outsourced teams, as this is a key aspect of the Binding Operations Manager position.
✨Tip Number 4
Showcase your ability to work under pressure by preparing for potential scenario-based questions. Think of situations where you successfully met tight deadlines or resolved conflicts, as these skills are crucial for the role.
We think you need these skills to ace Binding Operations Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in the insurance industry, particularly in operations and management. Emphasise your skills in data accuracy, stakeholder management, and process improvement, as these are crucial for the Binding Operations Manager role.
Craft a Compelling Cover Letter: Write a cover letter that specifically addresses the responsibilities outlined in the job description. Mention your experience with binding/slip processing and endorsement processing, and how you can contribute to improving operational functions.
Showcase Your Achievements: Include specific examples of past achievements that demonstrate your ability to manage teams, improve processes, and maintain data quality. Use metrics where possible to quantify your success, such as improvements in efficiency or accuracy.
Proofread Your Application: Before submitting your application, thoroughly proofread your CV and cover letter. Check for any spelling or grammatical errors, and ensure that all information is clear and concise. A polished application reflects your attention to detail, which is vital for this role.
How to prepare for a job interview at MERJE
✨Know Your Numbers
As a Binding Operations Manager, you'll need to demonstrate your understanding of key performance indicators (KPIs) and service level agreements (SLAs). Be prepared to discuss how you've previously managed these metrics and improved operational efficiency.
✨Showcase Your Stakeholder Management Skills
This role requires strong relationships with various stakeholders. Prepare examples of how you've successfully liaised with different teams or external partners in the past, highlighting your communication and negotiation skills.
✨Demonstrate Process Improvement Experience
The company is looking for someone who can enhance their binding operations. Be ready to share specific instances where you've identified inefficiencies and implemented changes that led to measurable improvements.
✨Prepare for Technical Questions
Given the technical nature of the role, brush up on your knowledge of underwriting and policy administration systems. Expect questions that assess your practical understanding and ability to manage data quality effectively.
