At a Glance
- Tasks: Support Underwriters in managing Delegated Authority processes and ensure compliance.
- Company: Join Hiscox, a leader in the insurance industry with a focus on diversity and inclusion.
- Benefits: Enjoy hybrid working, competitive salary, and a supportive team environment.
- Other info: Great career growth opportunities in a dynamic and inclusive culture.
- Why this job: Make an impact by facilitating new business relationships and ensuring regulatory adherence.
- Qualifications: Detail-oriented with strong organisational skills and experience in a busy office.
The predicted salary is between 35000 - 45000 £ per year.
The London Market Delegated Authority Team is part of the HSL Operations and Governance Team and supports Underwriters in delegating underwriting authority. Reporting to the London Market Head of Delegated Authority, the team balances compliance and business needs to minimize regulatory and reputational risks. We facilitate new business relationships and ensure adherence to regulatory requirements by staying updated on regulatory changes. Our team values meeting deadlines, delivering exceptional service, and maintaining strong communications with stakeholders.
The purpose of this role is to support Underwriters in navigating the Delegated Authority processes at Hiscox. This involves managing the pipeline of upcoming Binders, setting Binders up on our underwriting system and initiating the due diligence workflow, preparing Financial Crime Risk Assessments, completing certain Post Bind tasks or Control Monitoring activities and escalating any non-adherence in a timely manner. The role requires excellent attention to detail as well as strong organisational skills and the ability to multitask.
Main Responsibilities
- Managing the pipeline of upcoming Binders
- Preparing the Set Up tasks on all Binders
- Cross referencing Coverholder details between the Contract, Openbox and Atlas
- Maintaining Coverholder address details on Openbox
- Assessing the Financial Crime Risk Rating of Coverholders and Binders
- Facilitating post-bind activities, such as the Binder Expert Reviews
- Monitoring the completion of Follow DCOM entries
- Following up with Brokers when Binders are not registered on DCOM
- Monitoring various Controls to ensure adherence to requirements and that any approvals required have been obtained
- Monitoring the completion of Lineslip Tasks by Underwriters
- Monitoring the completion of Coverholder review Meetings by Underwriters
- Completing Due Diligence reviews as required
- Performing general administrative duties such as profiling or mailbox monitoring
- Other ad‑hoc duties as required
Candidate Ideal Traits
- Detail‑oriented and enjoys researching information
- Passionate about high‑quality service
- Ability to manage high volumes of tasks
- Independent thinker and decision‑maker
- Excellent communication skills
Must haves
- Experience in a busy office environment
- Strong attention to detail and great accuracy
- A proactive mindset and the initiative to pre‑empt issues or explore possibilities before raising queries
- Effective prioritisation and organisational skills
- Strong stakeholder communication skills
Nice to have
- London Market / Lloyd’s Insurance experience
- Delegated Authority Experience
- Familiarisation with Lloyd’s DA Systems eg Atlas / DCOM
- Experience using AI tools to enhance ways of working
Diversity & Hybrid Working At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success. We have also learned that working life doesn’t always have to be in the office, so we have introduced hybrid working to encourage a healthy work‑life balance.
Delegated Authority Technician employer: Hiscox
Hiscox is an exceptional employer that prioritises diversity and inclusivity, fostering a unique culture where employees can thrive. With a commitment to employee growth and a hybrid working model, we ensure a healthy work-life balance while providing opportunities to engage with high-quality service in the dynamic London Market. Join us to be part of a dedicated team that values compliance, communication, and excellence in all aspects of our operations.
StudySmarter Expert Advice🤫
We think this is how you could land Delegated Authority Technician
✨Join Compliance Communities
Get involved in compliance and risk communities — both online and offline. Look for forums, LinkedIn groups, or even local meetups where compliance pros hang out. You never know who might drop a job opportunity your way!
✨Attend Industry Conferences
Keep an eye out for compliance and risk management conferences and workshops in your area. These events are a goldmine for networking, and they often have job boards or recruiters on-site looking for new talent. Plus, it’s a chance to learn what's trending in the field.
✨Leverage Your University Career Services
If you’ve recently graduated or are still studying, head over to your university's career services. Many companies, including those in compliance, actively recruit fresh talent through these services, so make sure you tap into that resource.
✨Showcase Your Knowledge Online
Start writing articles or blog posts about compliance topics that interest you. Share them on platforms like LinkedIn to demonstrate your knowledge and passion. This not only builds your presence in the field but can also catch the attention of companies like Hiscox looking for candidates who are engaged and informed.
We think you need these skills to ace Delegated Authority Technician
Some tips for your application 🫡
Show Your Understanding of Compliance:In the compliance-risk field, it's super important to showcase your understanding of regulations and risk management frameworks. Highlight any relevant coursework, certifications (like ICA or AML), or even projects that demonstrate your knowledge and commitment to this area. We want to see how you can navigate this complex landscape!
Quantify Your Achievements:When detailing your experience, try to quantify your achievements. For example, if you've previously worked on a project that improved compliance metrics or reduced risk exposure, give us the numbers! This data-driven approach really stands out to hiring managers in compliance-risk roles.
Tailor Your CV to Reflect Relevant Skills:Make sure your CV highlights skills that are particularly relevant to compliance, like attention to detail, analytical thinking, and report writing. Ensure these are easy to spot – consider using bullet points to break down your responsibilities and achievements for maximum impact!
Craft a Motivating Cover Letter:In your cover letter, let us know why you’re excited about the compliance-risk role at Hiscox. Share what motivates you about compliance, and how you believe you can contribute to our mission. This is your chance to showcase not only your skills but also your passion for this important field!
How to prepare for a job interview at Hiscox
✨Master the Regulations
Brush up on key compliance regulations relevant to the industry you're applying to. Familiarising yourself with specific laws and frameworks used in your field will give you an edge during technical questions. Show that you’re not just aware of them but can also apply them—think real-life scenarios!
✨Show Your Analytical Skills
Compliance roles really focus on analytical skills, so be prepared for case studies or situational questions during the interview. We've got to demonstrate how we approach risk assessments or compliance audits, possibly drawing on examples from past experiences or university projects. Bring some thoughtful case scenarios to discuss!
✨Know Your Tools
Get comfortable with commonly used compliance software and tools. Familiarity with platforms like RSA or MetricStream can really impress during your interview, as it shows you're ready to hit the ground running. If you’ve had any experience with them, make sure to highlight that!
✨Align with Company Culture
Since it's a full-time position, show your long-term commitment and interest in the company’s mission and values. Dive into how your ethics and professional philosophy align with Hiscox’s stance on compliance. A shared vision can really resonate with interviewers looking for fit as much as skill!
