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For Companies At a Glance
- Tasks: Support Underwriters with delegated authority compliance and audit management.
- Company: IQUW is a leading specialty (re)insurer at Lloyd’s, known for innovative insurance solutions.
- Benefits: Enjoy competitive salary, 25 days holiday, bonuses, and professional development support.
- Why this job: Join a dynamic team making impactful decisions in the insurance industry with growth opportunities.
- Qualifications: Experience in Delegated Authorities within insurance, strong analytical skills, and IT proficiency required.
- Other info: Opportunity to develop and coach junior team members while working in a collaborative environment.
The predicted salary is between 48000 - 84000 £ per year.
Overview
Grade: 3
Reporting to: Delegated Authority Compliance Manager
Location: London
About us
IQUW is a speciality (re)insurer at Lloyd’s (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.
ERS is the UK’s largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it’s a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn’t enough. That’s why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer’s needs.
The role
The role of the Senior Delegated Authority Operations Analyst is vital to support the DA team with the successful implementation of IQUW’s Delegated Authority strategy, with focus on service to Underwriters, due diligence and audit management.
The purpose of the role is to support the IQUW delegated authority (DA) function, primarily Underwriters writing delegated authority arrangements within IQUW’s Syndicate 218 and 1856, ensuring compliance with the company’s Delegated Authority (DA) Framework.
Key responsibilities
- In line with the DA Framework provide full support to Underwriters and other relevant stakeholders by ensuring due diligence and ongoing monitoring is undertaken across all new and existing delegated authorities (Binding Authorities, Lineslips, Consortium and Delegated Claims Administrators (DCAs).
- To undertake all the steps of the IQUW audit policy and to ensure the timely implementation of the annual audit programme for Coverholders and DCAs.
- Prepare governance and other performance reporting and insights of IQUW’s delegated authority arrangements, including discussing KPIs with Underwriting and relevant stakeholder teams.
- To support the Delegated Authority Team with administrating the review process for all binding authorities, lineslips, consortium and DCAs falling within IQUW.
- To produce any DA regulatory and Lloyd’s returns as required and ensure actions arising from market thematic reviews are embedded within the company.
- To build and maintain a strong relationship with all business units, particularly Underwriting teams.
Qualifications, skills and experience
- Extensive experience working in Delegated Authorities role within an insurance company, ideally within the Lloyd’s market.
- Attention to detail, excellent due diligence, and investigative skills.
- Strong analytical, written and communication skills.
- Developing and coaching junior members of the DA Team.
- IT literate with experience of third-party Lloyd’s management systems, including DCOM, DAM, Lineage, Atlas, Crystal, DDM, VIPR’s Intrali & LWR.
- Strong Excel skills.
Benefits
- Competitive Benchmarked Salary.
- 25 days holiday.
- Discretionary bonus scheme.
- Employee assistance programme.
- Annual holiday buy (up to 3 extra days).
- Salary sacrifice benefits.
- Annual benefits reviews.
- The option for professional qualifications and study support.
Additional Information
A full job description can be seen here .
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Senior Delegated Authority Analyst employer: ERS
Contact Detail:
ERS Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Delegated Authority Analyst
✨Tip Number 1
Familiarize yourself with the specific Delegated Authority Framework used by IQUW. Understanding their processes and compliance requirements will help you demonstrate your knowledge during the interview.
✨Tip Number 2
Network with professionals in the Lloyd's market, especially those who have experience in Delegated Authorities. This can provide you with insights into the role and potentially lead to referrals.
✨Tip Number 3
Brush up on your analytical skills and Excel proficiency, as these are crucial for the role. Consider working on relevant projects or simulations that showcase your ability to analyze data effectively.
✨Tip Number 4
Prepare to discuss your experience with third-party Lloyd’s management systems. Being able to articulate your familiarity with tools like DCOM, DAM, and others will set you apart from other candidates.
We think you need these skills to ace Senior Delegated Authority Analyst
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Senior Delegated Authority Analyst position. Understand the key responsibilities and qualifications required, as this will help you tailor your application.
Highlight Relevant Experience: In your CV and cover letter, emphasize your extensive experience in Delegated Authorities roles within the insurance sector, particularly if you have worked in the Lloyd’s market. Use specific examples to demonstrate your skills.
Showcase Analytical Skills: Since strong analytical skills are crucial for this role, provide examples of how you've used these skills in previous positions. Mention any relevant tools or systems you are familiar with, such as DCOM or Excel.
Tailor Your Cover Letter: Craft a personalized cover letter that addresses the specific needs of IQUW. Discuss how your background aligns with their Delegated Authority strategy and how you can contribute to their team.
How to prepare for a job interview at ERS
✨Understand the Delegated Authority Framework
Make sure you have a solid grasp of IQUW’s Delegated Authority Framework. Be prepared to discuss how your previous experience aligns with the compliance and monitoring aspects of this framework, as it will be crucial for supporting Underwriters effectively.
✨Showcase Your Analytical Skills
Highlight your strong analytical abilities during the interview. Prepare examples of how you've used data and insights to drive decisions in past roles, especially in relation to due diligence and audit management.
✨Demonstrate Relationship-Building Skills
Since building relationships with Underwriting teams is key, come ready with examples of how you've successfully collaborated with different stakeholders in your previous positions. This will show your ability to integrate into their team seamlessly.
✨Familiarize Yourself with Relevant IT Systems
Brush up on your knowledge of third-party Lloyd’s management systems like DCOM, DAM, and others mentioned in the job description. Being able to discuss your experience with these tools will demonstrate your readiness for the role.
