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- Tasks: Support the Delegated Underwriting Manager with compliance and administrative tasks.
- Company: Join a dynamic team at Lancashire, known for its collaborative culture.
- Benefits: Gain valuable experience in underwriting with opportunities for growth.
- Why this job: Make an impact in the insurance industry while developing your skills.
- Qualifications: Experience in Delegated Underwriting and strong analytical skills required.
- Other info: Be part of a supportive environment that values honesty and teamwork.
The predicted salary is between 36000 - 60000 ÂŁ per year.
The key purpose of this role is to provide support to the Delegated Underwriting Manager in any activities relating to the monitoring and compliance with underwriting requirements as set out within The Principles for doing business at Lloyd’s (“The Principles”). Additionally, this role will assist with administration and other clerical duties that impact the Delegated Underwriting team.
Department: Underwriting Operations
Location: London
Responsibilities
- Responsible for the administration of coverholder due diligence
- Responsible for the completion of Lloyd’s pre-bind quality assurance (PBQA) and general contract reviews in line with expected targets
- Assist with the coverholder audit function including scheduling, review of audit reports and ensuring outcomes are followed up as required
- Assist with the oversight of bordereau received from Coverholders, including mapping and processing, as required
- Responsible for maintaining and circulating required coverholder information from Lloyd’s ATLAS and DCOM systems
- Producing delegated underwriting information for monthly packs and regulatory returns
- Producing conduct related management information in respect of delegated underwriting
- Review and report on data received from coverholders
- Regular liaison with Underwriters, Claims, Finance and Compliance teams
- Ensuring compliance with “The Principles” as they relate to Delegated Underwriting
- Assisting colleagues with ad hoc duties as and when required
- Keeping up to date on technical and operational delegated issues that impact the Delegated Underwriting team
- Attending meetings and liaising with the Lloyd’s Third-Party Oversight (Delegated Authority)
Reporting
- Production of regular and ad hoc business reports relating to delegated authority risks including the associated conduct risk information
- Assist with the production of regular and ad hoc business reports
- Provide Management Information (MI) to manager for reporting purposes
Essential Skills & Requirements
- A thorough understanding of Lloyd’s reporting requirements and the requirements under “The Principles”
- Experience in a Delegated Underwriting role
- Good mathematical and analytical skills
- Strong IT skills
- Good organisational skills including the ability to prioritise and handle the allocation of workloads, ensuring specific deadlines are met
- The ability to work well within the team, sharing knowledge and training to meet business and team goals
The Lancashire Way
At Lancashire, we believe our culture sets us apart. The way we behave and approach our work day-to-day is what makes us unique and creates a positive experience for our people, business partners and other stakeholders. Honesty and integrity in all we do is a given and The Lancashire Way reflects our true character and spirit.
- Straight-talking: We feel empowered to share thoughts and ideas, because everyone’s voice matters.
- Collaborative: We work together towards common goals, share knowledge and support each other.
- Hard-working: We all have a stake in the company’s success and are proactive in contributing to our goals and vision.
- Responsible: We focus on achieving tangible results with consistent standards across the Group.
- Positive: We engage with brokers, clients, communities, stakeholders and colleagues professionally and passionately as proud ambassadors of Lancashire.
Delegated Underwriting Assistant employer: Lancashire Insurance Group
Contact Detail:
Lancashire Insurance Group Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Underwriting Assistant
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those working at Lloyd’s or in delegated underwriting. A friendly chat can open doors and give you insights that might just land you an interview.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of Lloyd’s Principles and reporting requirements. Show us you’re not just a candidate, but someone who understands the ins and outs of the role and is ready to hit the ground running.
✨Tip Number 3
Don’t underestimate the power of follow-ups! After an interview, drop a quick thank-you email to express your appreciation. It keeps you fresh in their minds and shows your enthusiasm for the role.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re serious about joining our team and contributing to our goals.
We think you need these skills to ace Delegated Underwriting Assistant
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Delegated Underwriting Assistant role. Highlight any relevant experience you have in underwriting or compliance, and don’t forget to showcase your analytical skills. We want to see how you can contribute to our team!
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 skills align with our values at StudySmarter. Keep it concise but impactful – we love a good story!
Showcase Your IT Skills: Since strong IT skills are essential for this role, make sure to mention any relevant software or systems you’re familiar with. If you've worked with Lloyd’s ATLAS or DCOM systems, definitely highlight that experience – it’ll set you apart!
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. Plus, it shows you’re keen to join our team!
How to prepare for a job interview at Lancashire Insurance Group
✨Know Your Lloyd’s Principles
Make sure you have a solid understanding of 'The Principles for doing business at Lloyd’s'. Familiarise yourself with the key compliance requirements and how they relate to delegated underwriting. This will show your potential employer that you're not just interested in the role, but also in the values that guide their operations.
✨Showcase Your Analytical Skills
Since this role requires good mathematical and analytical skills, be prepared to discuss specific examples where you've used these abilities in past roles. You might even want to bring along a few scenarios or data sets to demonstrate your problem-solving approach during the interview.
✨Highlight Team Collaboration
This position emphasises teamwork and collaboration. Be ready to share experiences where you've worked effectively within a team, especially in high-pressure situations. Discuss how you’ve shared knowledge and supported colleagues to achieve common goals, as this aligns with the company culture.
✨Prepare for Technical Questions
Brush up on your technical knowledge related to delegated underwriting and the systems mentioned, like Lloyd’s ATLAS and DCOM. Expect questions about how you would handle specific tasks, such as conducting audits or processing bordereau. Showing confidence in your technical skills will set you apart from other candidates.
