At a Glance
- Tasks: Oversee delegated authority portfolio, manage risks, and ensure compliance.
- Company: Leading insurance firm with a focus on innovation and teamwork.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Other info: Support junior team members and engage in industry committees.
- Why this job: Join a dynamic team and make a real impact in the insurance industry.
- Qualifications: Strong knowledge of delegated authority management and relevant experience required.
The predicted salary is between 45000 - 55000 £ per year.
Responsibilities
Responsible for the oversight of our delegated authority portfolio and managing associated risks.
This encompasses coverholder due diligence, audit management, and ongoing monitoring.
Some of the key deliverables associated with this role are
- Carrying out due diligence into coverholders and third parties; including new, renewal, and Lloyd's coverholder tribunalisations.
- Reviewing binding authorities and lineslips to ensure that these include suitable controls, and reflect the intended nature of the relationships.
- Proactively managing our coverholder audit cycle; including planning, scheduling, scoping, auditor liaison, and the remediation of recommendations.
- Supporting wider efforts to ensure that other delegated deliverables (e. g. bordereaux, EPI reviews) are achieved on time and to specification.
- Acting as a subject matter expert in delegated authority, with the knowledge and experience to advise underwriters and troubleshoot issues.
- Ensuring compliance with internal and regulatory obligations relating to delegated underwriting authority.
- Ensuring that our delegated underwriting authority processes and framework remain current, effective, streamlined, and suitable for our risk profile.
- Disseminating market news and publications to relevant internal stakeholders.
- Supporting the development of junior members of the team.
- Ensuring that the best interests of our customers are at the forefront of our work
- Membership of groups and committees involved in delegated oversight; including the Delegated Underwriting Group, Product Oversight Group, and other forums.
- Deputising for the Head of Delegated Operations as necessary.
- Assisting with the testing of our SEND workbench and IT systems as necessary.
Qualifications
- Strong knowledge of delegated authority management; including due diligence, audit, bordereau, reporting, and regulatory requirements.
- Demonstrable experience and success in relevant roles within career history.
- Understanding of Lloyd’s delegated systems; including Atlas, DCOM, and DAM
Delegated Underwriting Authority Manager in London employer: Berkley
As a Senior Underwriter in the London Market Professional Indemnity Team, you will thrive in a dynamic and collaborative environment that values high performance and innovation. Our company fosters a culture of inclusivity and personal development, offering extensive training opportunities and a clear pathway for career advancement. With a strong focus on employee well-being and a commitment to excellence, we provide a rewarding workplace where your contributions directly impact our success in the global market.
StudySmarter Expert Advice🤫
We think this is how you could land Delegated Underwriting Authority Manager in London
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Berkley). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Berkley. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Delegated Underwriting Authority Manager in London
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Berkley.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Berkley. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Berkley
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Berkley to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Berkley, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Berkley's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
