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- Tasks: Manage Coverholder onboarding and ensure compliance with regulatory standards.
- Company: Chaucer, a leading global insurer in the Lloyd's market.
- Benefits: Flexible hybrid work model, extensive benefits, and a supportive culture.
- Why this job: Join a dynamic team making a real impact in the insurance industry.
- Qualifications: Experience in Lloyd's market and strong organisational skills required.
- Other info: Opportunities for career growth in a diverse and inclusive environment.
The predicted salary is between 36000 - 60000 £ per year.
Chaucer is a leading insurance group at Lloyd's, the world's specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups. Headquartered in London, with international hubs in Copenhagen, Dubai, Miami, Dublin, Singapore, Sydney and Bermuda, to be closer to our clients across the world.
Job Profile Summary
The Senior Delegated Authority Officer is responsible for the effective management of Coverholder onboarding, annual due diligence, and oversight processes for Chaucer Syndicate Limited (CSL). The role supports underwriting teams in ensuring full compliance with Chaucer's internal standards and regulatory requirements. Strong stakeholder engagement - both internal and external - is essential to the success of the wider Delegated Authority Oversight function. A deep understanding of relevant regulations, including Delegated Authority, Consumer Duty, Compliance, and Financial Crime, is required. The position demands strong organisational, communication, and analytical skills, along with thorough knowledge of Lloyd's and London Market frameworks.
Job Description
- Support and provide guidance to underwriting teams.
- Ensure delegated arrangements comply with regulatory frameworks, including Lloyd's and Chaucer standards.
- Undertake Pre Bind Quality Slip checks for all new and renewing business.
- Annual compliance and oversight of all existing Coverholders.
- Manage endorsement requests, including any associated ATLAS tasks.
- Conduct peer reviews of due diligence assessments and provide initial sign-off.
- Identify and mitigate risks associated with delegated business.
- Collaborate with the Group Head of Delegated Oversight to identify high-performing Coverholders and growth opportunities.
- Contribute to strategic updates and operational improvements.
- Maintain awareness of regulatory changes: Monitor updates from Lloyd's, especially regarding Solvency II and Consumer Protection Code amendments.
- Represent Chaucer, as appropriate, on market forums.
- KPI Reporting.
- Draft papers for committee reporting.
- Provide training on the Delegated Authority function where required.
Regulatory Responsibilities
Demonstrates a clear understanding of regulatory requirements relating to Delegated Authority, Conduct (including Consumer Duty), Compliance, and Financial Crime.
Skills and Competencies
- Relevant Lloyd's / London Market experience preferably.
- Advanced Microsoft skills - Word, Excel & PowerPoint.
- Strong organisational / time management skills.
- Experience and knowledge of Atlas, Crystal and DCOM.
Why Join Chaucer?
Chaucer is a leading global insurer operating in both Lloyd's and company markets, helping industries worldwide manage risk - from nuclear, shipping, manufacturing, and property. We have shown strong financial success with our Gross Written Premiums growing from $1.4bn in 2019 to $3.5bn in 2024. Backed by strong teams, platforms, and client relationships, Chaucer is poised for continued success.
We offer:
- A flexible office hybrid work model that supports individual and team needs.
- A diverse, inclusive culture that values people for who they are.
- Extensive, non-contributory benefits, including medical, life, and pension cover, flexible holidays, and wellbeing support.
Delegated Authority Oversight Officer employer: Chaucer Group
Contact Detail:
Chaucer Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Authority Oversight Officer
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those connected to Chaucer. Attend events or webinars where you can meet potential colleagues and learn more about the company culture.
✨Tip Number 2
Prepare for interviews by understanding Chaucer's values and recent developments in the insurance market. Show that you’re not just interested in the role but also in how you can contribute to their mission of managing risk globally.
✨Tip Number 3
Practice your communication skills! As a Delegated Authority Oversight Officer, you'll need to engage with various stakeholders. Mock interviews with friends can help you articulate your thoughts clearly and confidently.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you’re genuinely interested in being part of the Chaucer team.
We think you need these skills to ace Delegated Authority Oversight Officer
Some tips for your application 🫡
Tailor Your CV: Make sure your CV reflects the skills and experience that are relevant to the Delegated Authority Oversight Officer role. Highlight your knowledge of regulatory frameworks and any experience with Lloyd's or the London Market.
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about the role and how your background aligns with Chaucer's mission. Don’t forget to mention your strong organisational and communication skills!
Showcase Your Analytical Skills: In your application, provide examples of how you've used your analytical skills in previous roles. This could be through managing compliance processes or conducting due diligence assessments—anything that shows you can handle the responsibilities of the position.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, you’ll find all the details you need about the application process there!
How to prepare for a job interview at Chaucer Group
✨Know Your Regulations
Make sure you brush up on the relevant regulations like Delegated Authority, Consumer Duty, and Compliance. Being able to discuss these confidently will show that you understand the framework within which Chaucer operates.
✨Showcase Your Stakeholder Skills
Prepare examples of how you've engaged with stakeholders in previous roles. Highlight your communication and organisational skills, as these are crucial for the role. Think about times when you successfully navigated complex relationships or resolved conflicts.
✨Demonstrate Analytical Thinking
Be ready to discuss how you've approached risk identification and mitigation in past experiences. Use specific examples to illustrate your analytical skills, especially in relation to delegated business oversight.
✨Familiarise Yourself with Tools
If you have experience with tools like Atlas, Crystal, or DCOM, make sure to mention it. If not, do a bit of research to understand their functions. Showing that you're tech-savvy can give you an edge in the interview.