Delegated Operations Audit Lead

Job Title:Delegated Operations Audit Lead

Division:Beazley Shared Services – Underwriting and Claims Operations

Reports To:As per Beazley’s organisation chart

Key Relationships:Delegated Operations team, underwriting teams, claims teams; the Claims Business Management team; brokers, coverholders, DCAs; compliance team; Conduct Risk team; Assurance team; Information Security, Licencing Team, external audit firms, delegated underwriting/audit teams from other managing agents, Lloyd’s coordination and delegated authorities team; the LMA

Job Summary:To design and manage the syndicates’ programme of inhouse delegated authority audit oversight, and assist with coverholder and DCA (Delegated Claims Administrator) third party audit management. To carry out audits of delegated authorities including assisting with underwriter and claims manager visits and provide assistance in relation to other aspects of delegated underwriting compliance.

Key Responsibilities:

• To design, coordinate delivery and lead the inhouse delegated authority audit function and support the third party audit programme of the syndicate and company delegated authorities. This will involve:
• design and implement an oversight framework for direct deal delegated business, to include but not be limited to traditional onsite audits working closely with the direct deal manager.
• draft the inhouse audit plan based on syndicate criteria and maintaining this throughout the year with all relevant information;
• To carry out up to 20 audits of delegated partners per annum, either on a remote or in person basis.
• liaising with underwriters, claims managers, the claims business management; brokers, the delegated direct deal manager and coverholders to coordinate reviews.
• assist the audit team in developing service level agreements with audit firms, monitoring adherence to these and providing feedback to firms on performance ensuring any issues are addressed
• ensuring relevant, tailored audit scopes and risk based oversight programmes are implemented specific to risks posed by different businesses;
• keep records of audits and testing and following up on recommendations ensuring these are disseminated to underwriters and delegated entities.
• holding meetings with various Beazley teams to discuss potential problem coverholders and DCA’s and record actions, challenging evidence where applicable, agreeing timescales and follow up to ensure that all matters are addressed.
• tracking and reporting of the completion status of recommendations – this will include regular follow up with trading teams – producing regular reporting on this for various Beazley teams and Committees
• oversight of the end-to-end audit process and enhancing/amending this as required by business needs
• preparing relevant committee papers and attendance of these committees to deliver paper content
• preparing and reporting audit KPI’s in line with agreed business requirements
• providing support, where required, to delegated operations team mates
• training and ongoing support to new starters and any 3^rd party business partners sharing best practice and proving support where required
• attendance at market meetings to ensure we are aligned to market practice
• Driving and assisting in delivery of projects by the Delegatedoperations 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
• Assist with the management and oversight of third party audit programme as required, working closely with the delegated third party audit lead.

General

It is important that within all your interactions both internally and externally you adhere to Beazley’s core values – Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA and FCA Conduct.Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People 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 Culture & People 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
• 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/general insurance environment
• Knowledge or experience of binding authority business necessary
• Experience in auditing delegated partners necessary
• Previous administrative experience
• Experienced in travelling and working autonomously beneficial

Aptitude and Disposition

• 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

Competencies

• Information seeking
• Team working
• Initiative
• Achievement orientation
• Concern for quality