Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Oversee Managing Agents' compliance with Lloyd's Principles and address potential risks.
- Company: Join Lloyd's, the world's leading insurance marketplace, fostering a brave and inclusive culture.
- Benefits: Enjoy flexible working, health programmes, professional development, and a generous benefits package.
- Why this job: Make a real impact in risk management while collaborating with top industry professionals.
- Qualifications: Experience in oversight, risk assessment, and strong communication skills required.
- Other info: Be part of a diverse team driving innovation and operational efficiency in the insurance sector.
The predicted salary is between 36000 - 60000 £ per year.
Responsibilities
- Overseeing the adherence of allocated Managing Agents (MAs) to Lloyd's Principles for Doing Business, specifically in relation to their Delegated Authority business.
- Addressing potential risks, proactively intervening and escalating issues.
- Conducting targeted, risk-based capability assessments, ad hoc assurance activities, and thematic reviews.
- Promoting a best-in-class approach to management and Delegated Authority arrangements.
- Making considered and risk-based decisions, ensuring that the right outcomes are achieved through effective oversight and collaboration with the wider Lloyd's team.
- Maintaining the 'Lloyd's view' on the Delegated Authority capability of allocated MAs, feeding into governance forums.
- Building meaningful, open, and transparent relationships with allocated MAs to enable effective oversight and sharing of key information.
- Providing risk-based oversight of a small number of highly material MGAs, broker facilities and structured programme providers.
- Leading on addressing problematic MGAs with the authority to take appropriate remedial actions, aligned with the Third-party Material Issues, including imposing robust and proportionate interventions and escalating high-impact issues as necessary.
- Collaborating through the Delegated Authority Indicator Framework (DAIF) with other Lloyd's review teams and the Delegated Underwriting Performance team to ensure MA oversight activities are aligned with objectives and priorities.
- Proactively identifying opportunities for operational efficiency, including stopping low-value work, automating processes, or outsourcing where appropriate.
- Handling complex market queries related to the delegated authority model and alternative distribution processes globally, clearly articulating Lloyd's risk appetite.
- Supporting Country Managers to enable triage or rejection of MGAs that present local risks.
- Acting as the UK Country Manager for reviewing new MGA applications that are sponsored by allocated MAs.
- Contributing to the creation of the Delegated Authority centre of excellence, including leading on: responding to and resolving complex market queries; creating and contributing to thought leadership; maintaining and updating guidance materials; and identifying and sharing insights with the market and Lloyd's global networks.
About Lloyd's
Lloyd's is the world's leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market's brightest minds, working together for a braver world. Our role is to inspire courage, so tomorrow's progress isn't limited by today's risks. Our values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that's more sustainable, resilient and inclusive, you'll find a home at Lloyd's - build a braver future with us.
Work style and benefits
A key role in the Delegated Authority division that forms part of the wider Market Performance and Oversight. The strategic focus is on promoting greater market sophistication and capability in delegated authority, driving improvements in MGA oversight and continuing to evolve adherence to Lloyd's Principles for Doing Business in relation to Delegated Authority business.
Diversity and inclusion are a focus for us - Lloyd's aims to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments. We offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into professional development. You can read more about diversity and inclusion on our website.
We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes. By choosing Lloyd's, you'll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.
Delegated Authority Oversight Manager in City of Westminster employer: Lloyd's
Contact Detail:
Lloyd's Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Authority Oversight Manager in City of Westminster
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those connected to Lloyd's. Attend events, webinars, or even casual meet-ups. Building relationships can open doors that a CV just can't.
✨Tip Number 2
Prepare for interviews by diving deep into Lloyd's values and principles. Show us how your experience aligns with our mission of promoting a braver future. Tailor your examples to highlight your risk management skills and collaborative spirit.
✨Tip Number 3
Don’t just wait for job openings to pop up! Keep an eye on our website and apply proactively. Sometimes, the best opportunities come from expressing interest before they’re even advertised.
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way. It shows your enthusiasm and keeps you fresh in our minds as we make decisions. Plus, it’s a great chance to reiterate why you’re the perfect fit for the role.
We think you need these skills to ace Delegated Authority Oversight Manager in City of Westminster
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your CV and cover letter to highlight your experience with Delegated Authority and risk management. We want to see how your skills align with our values and the specific responsibilities of the role.
Showcase Your Problem-Solving Skills: In your application, give examples of how you've proactively addressed risks or improved processes in previous roles. We love candidates who can demonstrate their ability to think critically and make considered decisions.
Be Clear and Concise: When writing your application, keep it straightforward and to the point. Use clear language to articulate your experiences and achievements, as we appreciate clarity and directness in communication.
Apply Through Our Website: Don’t forget to submit your application through our official website! It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at Lloyd's
✨Know Your Lloyd's Principles
Familiarise yourself with Lloyd's Principles for Doing Business, especially as they relate to Delegated Authority. Be prepared to discuss how you can ensure adherence to these principles and share examples from your past experiences where you've successfully managed compliance.
✨Showcase Your Risk Management Skills
Highlight your ability to identify and address potential risks. Prepare specific examples of how you've proactively intervened in previous roles to mitigate issues, and be ready to discuss your approach to making risk-based decisions.
✨Build Relationships
Demonstrate your skills in building meaningful relationships with stakeholders. Think of examples where you've effectively collaborated with teams or external partners to achieve common goals, and be ready to explain how you would apply this in the context of managing allocated MAs.
✨Emphasise Operational Efficiency
Be prepared to discuss how you've identified opportunities for operational efficiency in your previous roles. Share specific strategies you've implemented, such as automating processes or outsourcing tasks, and how these have led to improved outcomes.
