Main purpose of the job:
Working closely with the DUA Manager you will help ensure all delegated arrangements operate within risk appetite and meet Lloyd’s and regulatory requirements.
Supporting the management and monitoring of the Delegated Underwriting Authority (DUA) portfolio, as required by the DUA Manager and Chief Underwriting Officers of both trading platforms.
Key tasks:
- Oversee and manage the lifecycle of delegated authority business for specific classes of business which would include:
- Conduct comprehensive due diligence for new and renewing Lloyd's Cover holder applications to ensure alignment with internal appetite and Lloyd's Principles
- Perform technical reviews of Binding Authority Agreements, line slips, and consortia to guarantee procedural and regulatory compliance before and after they are bound.
- Maintain ongoing due diligence for the life cycle of the Coverholder relationship and underlying contracts
- Complete Coverholder applications, class of business, branch offices and regional extensions for Coverholders
- Support Underwriting and claims teams with delegated authority queries and approval processes including Mid Term changes
- Contribute to the life cycle management of the delegated authority book of business
- Be a contact point for the binding authority contracts on behalf of the White Bear Group’s Lloyd’s Cover holder, and engage with brokers where necessary.
- Oversee the delegated authority audit programme, including scheduling audits, scoping reviews, and tracking recommendations through to completion..
- Act as a primary liaison for underwriters, claims , brokers, and the Lloyd’s Delegated Authority Team to resolve day-to-day queries and provide technical guidance..
- Collate relevant MI for internal meetings, e.g. monthly Underwriting Committees, and help coordinate and report on data required for relevant regulatory returns when required.
- Contribute to the periodic review of Delegated Authority processes, written procedures and controls to ensure they remain relevant and fit for purpose
- Support the DUA Manager in the review and evidencing of compliance with relevant Lloyd’s Principles.
Key Personal Skills:
- Ability to work independently and consult appropriately.
- Strong organisation, accuracy, and attention to detail.
- Ability to balance multiple priorities, by focusing on timely delivery of quality outputs.
- Excellent communication skills, both verbal and written.
- Strong people and communication skills
Key technical skills:
- In-depth experience of managing Lloyd’s Coverholder relationships and associated processes and regulations.
- Significant knowledge of Lloyd's DUA practices, Conduct Risk, and Product Oversight requirements.
- Advanced skills in essential Lloyd's systems such as Atlas, DCOM, DAM, Crystal Plus, IMR & Wording repository etc.
- Ability to effectively engage with internal and external stakeholders of all levels, providing technical expertise and guidance on all aspects of DUA business and processes.
- Good understanding of Coverholder systems.
