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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 best practices within the Lloyd's market.
- Qualifications: Experience in Delegated Authority from an MGA or Syndicate environment required.
- Other info: Collaborative culture with opportunities for innovation and operational efficiency.
The predicted salary is between 36000 - 60000 £ 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: HJF Promotional Products
Contact Detail:
HJF Promotional Products Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Authority Oversight Manager in City of London
✨Network Like a Pro
Get out there and connect with people in the Lloyd's market! Attend industry events, join relevant LinkedIn groups, and don’t be shy about reaching out to potential colleagues. Building relationships can open doors that a CV just can't.
✨Showcase Your Expertise
When you get the chance to chat with hiring managers or during interviews, make sure to highlight your experience with Delegated Authority and risk management. Share specific examples of how you've tackled challenges in previous roles to demonstrate your value.
✨Prepare for the Interview
Do your homework on the company and its approach to Delegated Authority. Be ready to discuss how you can contribute to their goals and improve their oversight processes. Tailor your answers to reflect their values and needs.
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who are proactive about their job search!
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 the key responsibilities of the position.
Craft a Compelling Cover Letter: Your cover letter should tell us why you're the perfect fit for this role. Share specific examples of how you've successfully managed delegated authority arrangements and addressed risks in previous positions. We love a good story!
Showcase Your Collaboration Skills: Since this role involves working closely with various teams, make sure to highlight your collaboration skills. Tell us about times when you’ve worked with colleagues to achieve effective oversight or improve operational efficiency.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at HJF Promotional Products
✨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, think of instances where you've successfully mitigated risks in previous roles. Be ready to explain your approach to risk assessment and how you’ve intervened early to resolve issues.
✨Demonstrate Collaborative Spirit
This position requires effective collaboration with various stakeholders. Prepare to share examples of how you've built strong relationships with Managing Agents or colleagues in the past, and how that has led to successful outcomes.
✨Be Ready for Complex Market Queries
Expect questions about handling complex market enquiries related to delegated authority. Think of challenging situations you've faced and how you communicated Lloyd's risk appetite effectively. This will show your ability to manage high-stakes scenarios.
