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For Companies At a Glance
- Tasks: Oversee Managing Agents, ensuring compliance and addressing risks in Delegated Authority arrangements.
- Company: Leading Lloyd's insurer in the heart of London.
- Benefits: Competitive salary, career development opportunities, and a dynamic work environment.
- Why this job: Join a pivotal role in shaping governance and operational excellence in the insurance market.
- Qualifications: Experience in Delegated Authority within an MGA or Syndicate environment.
- Other info: Collaborative culture with opportunities for innovation and professional growth.
The predicted salary is between 43200 - 72000 £ per year.
I am currently partnered with a leading Lloyd's player who are seeking a Delegated Authority Oversight Manager to join their growing team. My client is looking for an experienced Delegated Authority expert within the Lloyd's Market who has experience managing the full coverholder process, overseeing and providing full oversight on Managing Agents, reviewing new MGAs and onboarding these, and much more. The ideal candidate will have extensive Operational Delegated experience from an MGA or Syndicate environment.
Key Responsibilities
- Provide oversight of allocated Managing Agents to ensure compliance with Lloyd's Principles for Doing Business, with particular focus on Delegated Authority arrangements.
- Identify, assess, and proactively address potential risks, intervening early and escalating issues where appropriate.
- Deliver targeted, risk-based capability assessments, ad hoc assurance activity, and thematic reviews to support effective oversight.
- Champion a 'best-in-class' approach to governance, management, and Delegated Authority operating models across the market.
- Make informed, proportionate, and risk-based decisions to achieve appropriate outcomes through effective collaboration with colleagues across Lloyd's.
- Maintain and articulate the Lloyd's view of the Delegated Authority capability of allocated Managing Agents, contributing to relevant governance and decision-making forums.
- Build strong, open, and transparent relationships with allocated Managing Agents to enable effective oversight and timely information sharing.
- Apply a risk-based approach to provide enhanced oversight of a small number of highly material MGAs, broker facilities, and structured programme providers.
- Lead the management of underperforming or high-risk MGAs, exercising authority to implement appropriate remedial actions in line with the Third-Party Material Issues framework, and escalating significant concerns where necessary.
- Work collaboratively through the Delegated Authority Indicator Framework (DAIF) with Lloyd's review teams and the Delegated Underwriting Performance team to ensure oversight activity is aligned with agreed objectives and priorities.
- Proactively identify and drive opportunities for operational efficiency, including eliminating low-value activity, automating processes, or outsourcing where appropriate.
- Manage complex market enquiries relating to delegated authority and alternative distribution models globally, clearly communicating Lloyd's risk appetite.
- Support Country Managers by enabling effective triage and rejection of MGAs that present heightened local risk.
- Act as UK Country Manager for the review of new MGA applications sponsored by allocated Managing Agents.
- Contribute to the development of the Delegated Authority Centre of Excellence by:
- Leading on the resolution of complex market queries.
- Developing and contributing to thought leadership on key themes, emerging issues, and best practice.
- Maintaining and enhancing Delegated Authority guidance and reference materials.
- Identifying, sharing, and disseminating insights across the market and Lloyd's global networks.
Delegated Authority Oversight Manager in City of London employer: High Finance Limited
Contact Detail:
High Finance Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Authority Oversight Manager in City of London
✨Tip Number 1
Network like a pro! Get out there and connect with people in the Lloyd's market. Attend industry events, join relevant online forums, and don’t be shy to reach out on LinkedIn. Building relationships can open doors that you didn’t even know existed.
✨Tip Number 2
Prepare for interviews by knowing your stuff! Research the company and its approach to Delegated Authority. Be ready to discuss how your experience aligns with their needs, especially around compliance and risk management. Show them you’re the best fit for the role!
✨Tip Number 3
Follow up after interviews! A quick thank-you email can go a long way. It shows your enthusiasm for the role and keeps you fresh in their minds. Plus, it’s a great chance to reiterate why you’re the perfect candidate.
✨Tip Number 4
Don’t forget to apply through our website! We’ve got loads of resources to help you ace your job search. Plus, applying directly can sometimes give you an edge over other candidates. Let’s get you that Delegated Authority Oversight Manager role!
We think you need these skills to ace Delegated Authority Oversight Manager in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Delegated Authority Oversight Manager role. Highlight your experience in managing coverholder processes and overseeing Managing Agents, as this will show us you understand what we're looking for.
Showcase Your Expertise: In your application, don’t just list your skills—show us how you've applied them in real situations. Talk about specific examples where you've identified risks or improved operational efficiency in a previous role.
Be Clear and Concise: When writing your application, keep it clear and to the point. We appreciate straightforward communication, so avoid jargon and make sure your key achievements stand out.
Apply Through Our Website: We encourage you to apply through our website for the best chance of getting noticed. It’s the easiest way for us to track your application and ensure it reaches the right people!
How to prepare for a job interview at High Finance Limited
✨Know Your Delegated Authority Inside Out
Make sure you brush up on your knowledge of the Delegated Authority process, especially within the Lloyd's Market. Be prepared to discuss specific examples from your past experience managing coverholder processes and how you've ensured compliance with Lloyd's Principles.
✨Showcase Your Risk Management Skills
Since the role involves identifying and addressing potential risks, come ready with examples of how you've proactively managed risks in previous roles. Highlight any specific situations where your interventions made a significant difference.
✨Demonstrate Collaborative Spirit
This position requires effective collaboration with various stakeholders. Think of instances where you've successfully worked with colleagues or external partners to achieve common goals, especially in oversight or governance contexts.
✨Prepare for Complex Market Queries
Be ready to tackle hypothetical scenarios related to complex market enquiries. Practise articulating your thought process and decision-making strategies, as this will showcase your ability to manage high-stakes situations effectively.
