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- Tasks: Conduct due diligence and manage delegated underwriting processes to ensure compliance.
- Company: Canopius is a leading global specialty lines (re)insurer in the Lloyd’s market.
- Benefits: Enjoy hybrid working, competitive salary, pension contributions, and comprehensive health cover.
- Why this job: Join a positive culture that values your unique contributions and supports personal development.
- Qualifications: Strong understanding of delegated underwriting and insurance practices; excellent analytical and communication skills required.
- Other info: This role is a 12-month fixed-term contract with opportunities for growth and learning.
The predicted salary is between 48000 - 72000 £ per year.
This is a 12 month Fixed Term Contract. A member of the UK Operations team, reporting to the Delegated Underwriting Manager, you will be providing assurance to Canopius that all forms of delegated underwriting are being underwritten, registered, processed and managed in accordance with the agreed Delegated Underwriting, and other internal policies. The main purpose of the Delegated Authority Management function is to provide appropriate governance, frameworks and controls of the Delegated Authority Portfolio in order to mitigate risks.
Key Responsibilities
- Conduct thorough due diligence, preparation & submission of new applications to Lloyd’s (including UK, EEA & International Coverholders, Class of Business, Regional, Relationships, Branch applications etc).
- Undertake technical due diligence risk assessment reviews of new and existing Coverholders, ensuring our partners meet required standards.
- Provide assistance to underwriting units in relation to all aspects of delegated authority including technical advice and Coverholder approval processes.
- Conduct pre & post bind reviews for lead and follow binders, master policies, consortiums and line slips to ensure adherence with Canopius procedures and regulatory requirements.
- Monitor and evaluate changes in the regulatory environment and collaborate with relevant stakeholders to devise solutions to meet regulatory requirements as required.
- Preparation of regular internal reporting packs.
- Utilisation of Lloyd’s registration and compliance systems, including Atlas and DCOM.
- Assist the Delegated Underwriting Manager and Head of Delegated Authority, as required, in the ongoing management of all areas of Canopius’ delegated authority business.
- Support the Delegated Underwriting Manager to manage offshore team’s workflow, responding to queries where required and monitoring quality.
- Peer review of contract checks as appropriate.
- Participate in Canopius Delegated Underwriting change projects including development of improved processes and systems testing.
- Deputise for Delegated Underwriting Manager where required through attendance at meetings, monitoring workload and completion of tasks.
Skills
- Detailed understanding of delegated underwriting authority practices, preferably within the Lloyd’s market.
- Strong knowledge of insurance industry practices and current regulatory requirements for Coverholder Management.
- Experience of Coverholder onboarding process with Lloyd’s.
- Ability to work as part of a team as well as under own initiative.
- Excellent attention to detail.
- Strong analytical & IT skills in Microsoft Excel and other MS office systems.
- Good communication and interpersonal skills.
- Good organisational and time management skills, ability to prioritise and meet deadlines.
- Ability to master new concepts quickly, and take initiative with own personal development.
About Us
We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, pension contributions, flexible benefits, discretionary bonus, insurances including health (family) cover, and many other benefits to enhance financial, physical, social and psychological health.
About Canopius
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda. At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results. Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected. We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds. We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.
Senior Delegated Underwriting Due Diligence Analyst employer: Canopius Group
Contact Detail:
Canopius Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Delegated Underwriting Due Diligence Analyst
✨Tip Number 1
Familiarise yourself with the Lloyd's market and its specific practices. Understanding the nuances of delegated underwriting authority will give you a significant edge during interviews, as it shows your commitment to the role.
✨Tip Number 2
Network with professionals in the insurance industry, particularly those involved in delegated underwriting. Engaging with current employees or attending industry events can provide insights and potentially lead to referrals.
✨Tip Number 3
Stay updated on regulatory changes affecting Coverholder Management. Being knowledgeable about current regulations will not only help you in discussions but also demonstrate your proactive approach to compliance.
✨Tip Number 4
Prepare to discuss your analytical skills and experience with tools like Microsoft Excel. Be ready to provide examples of how you've used these skills in past roles to manage data and support decision-making processes.
We think you need these skills to ace Senior Delegated Underwriting Due Diligence Analyst
Some tips for your application 🫡
Understand the Role: Before applying, ensure you have a clear understanding of the Senior Delegated Underwriting Due Diligence Analyst role. Familiarise yourself with the key responsibilities and required skills mentioned in the job description.
Tailor Your CV: Customise your CV to highlight relevant experience in delegated underwriting and compliance. Emphasise your knowledge of Lloyd’s market practices and any specific achievements that align with the responsibilities outlined in the job description.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the insurance industry and your understanding of delegated authority management. Use specific examples from your past experience to demonstrate how you meet the qualifications and can contribute to Canopius.
Highlight Analytical Skills: Given the emphasis on analytical skills in the job description, make sure to include examples of how you've successfully used these skills in previous roles. Mention your proficiency in Microsoft Excel and any relevant tools or systems you've worked with.
How to prepare for a job interview at Canopius Group
✨Know Your Delegated Underwriting Inside Out
Make sure you have a solid understanding of delegated underwriting authority practices, especially within the Lloyd’s market. Brush up on the key responsibilities and ensure you can discuss how your experience aligns with the role.
✨Demonstrate Your Analytical Skills
Prepare to showcase your analytical abilities, particularly in relation to risk assessment reviews and compliance monitoring. Be ready to provide examples of how you've successfully navigated complex regulatory environments in the past.
✨Highlight Your Teamwork and Communication Skills
Since this role involves collaboration with various stakeholders, be prepared to discuss your experiences working in teams. Share specific instances where your communication skills helped resolve issues or improve processes.
✨Prepare for Technical Questions
Expect technical questions related to the Coverholder onboarding process and the use of compliance systems like Atlas and DCOM. Familiarise yourself with these tools and be ready to explain how you've used similar systems in your previous roles.
