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- Tasks: Oversee delegated underwriting authority arrangements and ensure compliance with regulations.
- Company: Join a leading insurance firm in the heart of London, embracing innovation and excellence.
- Benefits: Enjoy a hybrid work model, competitive salary, and opportunities for professional growth.
- Why this job: Be part of a dynamic team shaping the future of insurance with impactful strategies.
- Qualifications: Strong experience in delegated underwriting and a relevant degree or equivalent experience required.
- Other info: ACII qualification or progress towards it is highly desirable.
The predicted salary is between 43200 - 72000 £ per year.
Our insurance client is looking for a Delegated Underwriting Authority (DUA) Manager to be responsible for overseeing all aspects of delegated authority arrangements, including the setup, monitoring, governance, and performance evaluation of coverholders and third-party administrators (TPAs). This role ensures compliance with regulatory and internal standards (e.g., Lloyd’s, FCA, PRA) and supports underwriting strategy by managing risk, ensuring quality control, and optimizing the performance of delegated partners.
Required skills:
- Strong experience in delegated underwriting, compliance, or insurance operations, preferably in the Lloyd’s/London Market.
- Strong knowledge of the Lloyd’s delegated authority framework and systems (e.g., Atlas, DCOM).
- Experience managing or auditing coverholders and TPAs.
- Familiarity with relevant regulatory frameworks (FCA, PRA, Lloyd’s).
- Bachelor's degree in a relevant field (e.g., Insurance, Business, Risk Management) or equivalent work experience.
- ACII qualification or progress toward it is highly desirable.
Key Responsibilities:
- Manage the full lifecycle of delegated underwriting authority arrangements, including due diligence, onboarding, oversight, and renewals.
- Monitor coverholder performance, underwriting results, and adherence to binding authority agreements.
- Maintain accurate and up-to-date records in relevant systems (e.g., Atlas, DCOM, DAM).
- Ensure compliance with internal underwriting guidelines, regulatory requirements, and Lloyd’s minimum standards.
- Lead audits and reviews of coverholders and TPAs, coordinating with internal audit teams and external consultants where necessary.
- Produce regular MI reports for internal stakeholders on coverholder performance, risk exposure, and compliance.
- Serve as the key point of contact between underwriting teams, compliance, finance, and external coverholders.
- Contribute to the development and implementation of DUA policies and best practices.
- Identify and mitigate risks associated with delegated underwriting.
DUA Manager employer: Albion Blake
Contact Detail:
Albion Blake Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land DUA Manager
✨Tip Number 1
Familiarise yourself with the Lloyd’s delegated authority framework and systems like Atlas and DCOM. Understanding these tools will not only help you in interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the insurance industry, especially those who have experience in delegated underwriting. Attend relevant events or webinars to make connections that could lead to valuable insights or referrals.
✨Tip Number 3
Stay updated on regulatory changes from the FCA and PRA. Being knowledgeable about current regulations will show your potential employer that you are proactive and well-informed about compliance issues.
✨Tip Number 4
Prepare to discuss specific examples of how you've managed or audited coverholders and TPAs in the past. Real-life scenarios can illustrate your expertise and problem-solving skills, making you a more attractive candidate.
We think you need these skills to ace DUA Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in delegated underwriting and compliance, particularly within the Lloyd’s/London Market. Use specific examples that demonstrate your knowledge of the delegated authority framework and systems like Atlas and DCOM.
Craft a Compelling Cover Letter: Write a cover letter that clearly outlines your relevant skills and experiences. Emphasise your ability to manage the lifecycle of delegated underwriting authority arrangements and your familiarity with regulatory frameworks such as FCA and PRA.
Showcase Relevant Qualifications: If you have an ACII qualification or are working towards it, make sure to mention this prominently in your application. Highlight any other relevant qualifications or training that align with the job requirements.
Demonstrate Your Understanding of Compliance: In your application, provide examples of how you have ensured compliance with internal guidelines and regulatory requirements in previous roles. This will show your potential employer that you understand the importance of governance in delegated underwriting.
How to prepare for a job interview at Albion Blake
✨Know Your Regulatory Frameworks
Make sure you have a solid understanding of the FCA, PRA, and Lloyd’s regulations. Be prepared to discuss how these frameworks impact delegated underwriting authority and how you’ve navigated compliance in your previous roles.
✨Demonstrate Your Experience with Coverholders
Be ready to share specific examples of how you've managed or audited coverholders and TPAs. Highlight any challenges you faced and how you overcame them, as this will showcase your problem-solving skills.
✨Familiarise Yourself with Relevant Systems
Since knowledge of systems like Atlas and DCOM is crucial, brush up on your familiarity with these tools. If possible, mention any direct experience you have using them and how it has benefited your previous employers.
✨Prepare for Scenario-Based Questions
Expect questions that ask you to evaluate hypothetical situations related to risk management and performance evaluation. Practise articulating your thought process and decision-making strategies in these scenarios.
