Delegated Operations Manager - Assurance & Audit

General

Job Title

Delegated Operations Manager

Division

Beazley Shared Services – Underwriting and Claims Operations

Reports To

Head of Delegated Operations

Key Relationships

Coverholder operations team, underwriting teams, claims teams; Claims Business Management team; brokers, coverholders, DCAs; compliance; Conduct Risk Team; external audit firms, delegated underwriting/audit teams from other managing agents, Lloyd’s coordination and delegated team; the LMA

Job Summary

To help underwriters in the management, monitoring and oversight of our delegated authorities, which include 3rd party binders, service companies, lineslips, consortia, master policies and non Lloyd’s delegated arrangements.

To ensure that procedures are followed and enhanced where required, with regard to pre-screening, ongoing monitoring and management of delegated authorities .

To support the Head of Delegated Operations

• on continuous improvement and implementing and embedding change where required across Delegated Operations
• be responsible for coordinating and maintaining appropriate documentation and consistency of processes
• ensure the coordination of Beazley’s programme of audits for coverholder, DCA’s, admitted programmes as well underwriter visits and provide assistance in relation to other aspects of delegated underwriting compliance.
• Line management responsibilities as per Beazley organisational chart.
• Continuous improvement of the function.

Key Responsibilities

• Line management responsibilities as per Beazley organisational structure:
• Lead and manage the team, organising regular catch ups and appraisals
• Responsible for training, coaching and supporting career aspirations of team members
• Accountable for managing accurate and efficient processing and handling of all designated work for assigned team
• Accountable for staff development and performance management
• Provide solutions for team issues; formulate, interpret and implement decisions based on operating practices
• Ensure quality of work from designated team members adheres to SLAs covering time and quality standards
• Monitor team’s production on regular basis, resolve and/or raise capacity issues as necessary
• Continuous improvement of the function including implementing efficiency improvements where appropriate, embedding and promoting change, and responsible for annual review of processes to ensure best practise and most efficient way of working.

Promote best practice delegated management within the business

• Work with the underwriters in developing best practice within Beazley procedures relating to delegated authorities.
• Responsible for operating, monitoring and reporting the status of controls and for liaising with Risk Management in reporting and escalating significant control failings / weaknesses or events that may arise.
• To coordinate delivery of the syndicate coverholder and DCA audit plan. This will involve:
• Oversight and responsibility of the audit coordination team who will be:
• Ensuring the plan is drafted based on syndicate criteria and maintained throughout the year with all relevant information;
• liaising with underwriters, claims managers, the Claims Business Management team; brokers, external audit firms and other managing agents to coordinate and commission external audits as required;
• tracking audit costs and liaising with firms and other managing agents to ensure costs are minimised
• ensuring relevant, tailored audit scopes are produced and communicated to firms in advance of audits;
• recording timings of audits and following up receipt of reports with firms;
• logging reports once received in the audit database/relevant spreadsheets and ensuring these are disseminated to underwriters
• reviewing reports for adherence to audit scope, quality and value for money extracting relevant issues from reports, ensuring these are understood (going back to the auditor for clarity where necessary), and concluding on a clear assessment of action that needs to be taken
• Reviewing audit reports with claims and underwriting teams and ensuring these are followed up on according to Beazley processes and requirements and ensuring best practise
• developing service level agreements with audit firms, monitoring adherence to these and providing feedback to firms on performance ensuring any issues are addressed
• holding meetings with various Beazley teams to discuss recommendations and conclude actions, recording actions, logging these in the audit database/relevant spreadsheets and communicating to brokers and coverholders
• tracking status of completion of recommendations and producing regular reporting on this for various Beazley teams and Committees

Manage the due diligence processes for delegated UW arrangements

• Ensure a consistent approach to appraising new and renewal delegated authorities (review of background checks, financial standing, systems and controls, etc) and providing an independent forum for underwriters and claims managers in conducting their due diligence.
• Supporting the team in managing referrals where required
• Manage the processing of data and internal broking functions for delegated authorities
• Ensure sound management and consistent approach to data entry into risk and premium management systems and premium reconciliations.
• Support underwriters and promote best practise on key data management requirements
• Ensure regulatory and exposure management requirements are consistently met
• Escalate key issues and trends to the appropriate committees where intervention is required as per the Delegated Operations Policy.
• Provide analysis of validation errors and contract breaches to underwriters attention

Implement and manage delegated arrangement monitoring activities

• Ensure sound management (and documentation thereof) of premium and binder performance,
• Ensure consistency of approach to credit control with delegated authorities – liaising with underwriters, finance and outsourced credit controllers.
• Being a ‘second pair of eyes’ in reviewing binder performance.

Manage delegated UW compliance activities

• Ensure adequate documentation is retained for all live delegated authorities.

Provide management reporting and external liaison

• Prepare periodic management reporting of key issues.
• Participate in committees to ensure escalation and feedback to the relevant management committees.
• Use the working knowledge of Lloyd’s regulations in complying with the Lloyd’s byelaw for delegated underwriting and FCA rules and guidance on material outsource providers.
• Prepare and, if necessary, present to regulators documentation and presentations in relation to managing delegated activities.
• General support
• Producing and presenting monthly papers for committees as required. Delivering additional presentations / updates to committees as required
• Representing the company at various internal and external market meetings;
• Support management and assist in being the point of contact and reference for delegated assurance and audit related market initiatives
• Assisting in delivery of projects by the Delegated Operations team as required
• Assist in the management of ad hoc queries directed to the team
• Assist in other activities of the team as required to comply with relevant Beazley procedures and policies
• Ensure the team are supported and work is managed appropriately, and dealing with escalations, problem areas, or involvement in general BAU as and when required.
• Highlighting any gaps in resource, reporting or data needs
• Managing any Lloyd’s queries or improvements within the delegated space
• Ability to run reports and use data to support decisions.
• General

At Beazley we are committed to doing the right thing because it is the right thing to do.

It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours.

• Adopt the Beazley culture of Professionalism, Integrity, Effectiveness and Dynamic that contributes to an internal environment of teamwork and promote a positive brand image and experience to our external customers.
• Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct Rules.

Undertake relevant training on Beazley policies and procedures as delivered by your line manager, the Talent Management development or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.

• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Talent Management or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas.

This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.

• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system.

These may include membership of any Beazley committees or working groups.

Personal Specification

Education and Qualifications

• Educated to A level or equivalent
• Degree in any discipline – preferred but not essential

Skills and Abilities

• Excellent organisational skills
• Analytical, able to review reports, extract relevant issues and assess their importance
• Assertive, able to provide challenge to internal and external stakeholders to ensure issues identified are adequately addressed and brought to an acceptable conclusion
• Able to communicate effectively both verbally and in writing with both internal and external stakeholders and to successfully manage these relationships
• The ability to manage time, meet deadlines and prioritise
• Ability to ‘step up’ and manage the team in the absence of the Head of Delegated Operations
• Team worker as well as able to work on own initiative
• Meticulous, precise, thorough, good at record keeping
• Strong computer skills – good working knowledge of MS Office, intermediate excel, word and powerpoint skills
• Knowledge and Experience
• Previous experience of working in a Lloyd’s insurance environment
• Knowledge or experience of delegated business vital
• Audit knowledge or experience beneficial
• Previous administrative experience
• Previous people management experience
• Aptitude and Disposition
• Collaborative and professional
• Outcome focused, self-motivated, confident and enthusiastic
• Professional approach to successfully interact with internal as well as external contacts, in particular external audit firms and other managing agents
• Diplomatic, cooperative and collaborative in approach
• Assertive, persuasive, resilient
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