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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 48000 - 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 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 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 LinkedIn groups, and don’t be shy about reaching out to potential colleagues or mentors. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of Delegated Authority processes and the latest trends in the Lloyd's market. We recommend creating a cheat sheet of key points and questions you might face. This will help you feel more confident and ready to impress!
✨Tip Number 3
Showcase your expertise! When you get the chance to chat with hiring managers, highlight your experience managing coverholder processes and your ability to identify risks. Use specific examples from your past roles to demonstrate how you’ve made a difference.
✨Tip Number 4
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. So, go ahead and submit that application!
We think you need these skills to ace Delegated Authority Oversight Manager in 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.
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.
Showcase Your Collaboration Skills: Since this role involves working closely with various teams, make sure to highlight your ability to build strong relationships. We want to see how you've collaborated effectively in past roles to achieve common goals.
Apply Through Our Website: Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it makes the whole process smoother for everyone involved.
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, come ready with examples of how you've proactively managed risks in previous positions. Highlight any specific frameworks or methodologies you've used to assess and mitigate risks effectively.
✨Demonstrate Collaborative Spirit
This position requires strong relationships with Managing Agents, so be prepared to talk about how you've built and maintained these relationships in the past. Share stories that illustrate your ability to communicate clearly and work collaboratively across teams.
✨Be Ready for Scenario-Based Questions
Expect questions that put you in hypothetical situations related to oversight and governance. Think through how you would handle underperforming MGAs or complex market enquiries, and articulate your thought process clearly during the interview.
