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For Companies At a Glance
- Tasks: Administer Binding Authority agreements and ensure compliance with Lloyd’s standards.
- Company: Respected international Lloyd’s Broker known for excellent staff retention.
- Benefits: Competitive salary, supportive work environment, and opportunities for professional growth.
- Why this job: Join a dynamic team and play a key role in global insurance projects.
- Qualifications: 10+ years in London Market with strong knowledge of delegated authority processes.
- Other info: Collaborative culture with opportunities for innovation and career advancement.
The predicted salary is between 36000 - 60000 ÂŁ per year.
A brand new opportunity has arisen for a well-respected and international Lloyd’s Broker, who are renowned for their excellent staff retention in the market. Our client is now seeking an experienced Binding Authority Technician, in a role that involves setting up Binding Authority agreements, working collaboratively with Brokers, Clients & Underwriters, as well as being an instrumental part of the timely and accurate creation of Binder Slips & Endorsements for Global Property Energy, Aviation & Personal Accident Risks.
Role Overview & Responsibilities
The Delegated Authority – Binding Authority Agreement Technician is responsible for the effective administration, oversight, and governance of delegated authority business. This role ensures the accurate setup, maintenance, and compliance of Binding Authority Agreements, bordereaux reporting, and supporting documentation in line with internal controls, Lloyd’s standards, and regulatory requirements. The position plays a key role in maintaining a robust, compliant, and well-controlled delegated authority framework.
Binding Authority Agreement Administration
- Set up, draft, renew, and maintain Binding Authority Agreements across internal and Lloyd’s systems, including Whitespace, ATLAS, and DCOM.
- Ensure all binder documentation is accurate, complete, and compliant with internal governance and Lloyd’s requirements.
- Monitor key contractual dates, endorsements, amendments, and renewals across delegated authority arrangements.
- Manage the receipt, validation, and reconciliation of risk and premium/claims bordereaux from coverholders and intermediary brokers.
- Upload, review, and reconcile bordereaux data within delegated authority platforms, including DA SATS, Tide, and internal systems.
- Investigate and resolve data discrepancies to ensure timely, accurate, and complete reporting.
Compliance & Governance
- Support coverholder onboarding, due diligence, audits, and annual compliance reviews.
- Monitor coverholder performance and adherence to underwriting authority and agreed controls.
- Maintain accurate records and audit trails to support regulatory reporting through Lloyd’s systems, including DAM.
Stakeholder Support
- Act as a key point of contact for underwriters, brokers, coverholders, and internal operational teams.
- Respond to Binding Authority–related queries, providing clear, timely, and effective stakeholder communication.
- Contribute to the ongoing development and enhancement of delegated authority processes, including automation and system improvements.
- Support management with Management Information (MI) reporting and data analysis to monitor performance, trends, and risks.
About You
- 10 years + of London Market experience and a proven experience within delegated authority or Binding Authority Agreement administration (creating Slips and Endorsements).
- Strong working knowledge of Lloyd’s and London Market systems and delegated authority processes.
- Experience using platforms such as ATLAS, DCOM, DA SATS, and DAM.
- Excellent numerical and analytical skills with a high level of attention to detail.
- Strong written and verbal communication skills, with the ability to manage multiple stakeholders effectively.
Insurance Technician - Binding Authorities in City of London employer: Nashrock Insurance Recruitment
Contact Detail:
Nashrock Insurance Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Insurance Technician - Binding Authorities in City of London
✨Tip Number 1
Network like a pro! Reach out to your connections in the insurance industry, especially those who work with Binding Authorities. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of Lloyd’s systems and processes. We all know that confidence is key, so practice answering common questions related to Binding Authority Agreements and be ready to showcase your expertise.
✨Tip Number 3
Don’t just apply and wait! Follow up on your applications after a week or so. A quick email to express your continued interest can make you stand out from the crowd and show that you're genuinely keen on the role.
✨Tip Number 4
Use our website to find the latest job openings tailored to your skills. We’ve got a range of opportunities that match your experience in Binding Authority administration, so don’t miss out on applying directly through us!
We think you need these skills to ace Insurance Technician - Binding Authorities in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the role of Binding Authority Technician. Highlight your experience with Binding Authority agreements and any relevant systems like ATLAS or DCOM. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this role. Mention your 10+ years in the London Market and how you've successfully managed delegated authority processes. Let us know why you want to join our team!
Showcase Your Attention to Detail: In this role, attention to detail is key. When filling out your application, make sure everything is accurate and well-presented. We appreciate candidates who take the time to ensure their documents are error-free and compliant with standards.
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of applications and ensures you get all the updates directly from us. Plus, it shows you're keen on joining our team!
How to prepare for a job interview at Nashrock Insurance Recruitment
✨Know Your Stuff
Make sure you brush up on your knowledge of Binding Authority Agreements and the specific systems mentioned in the job description, like Whitespace and ATLAS. Being able to discuss your experience with these tools will show that you're not just familiar but also ready to hit the ground running.
✨Showcase Your Attention to Detail
Since this role requires a high level of accuracy, prepare examples from your past work where your attention to detail made a difference. Whether it was catching a mistake in a binder slip or ensuring compliance with regulations, having concrete examples will help you stand out.
✨Communicate Clearly
You'll be interacting with various stakeholders, so practice articulating your thoughts clearly and concisely. Think about how you can explain complex concepts simply, as this will demonstrate your strong communication skills and ability to manage multiple stakeholders effectively.
✨Prepare for Scenario Questions
Expect questions that put you in hypothetical situations related to compliance and governance. Prepare by thinking through how you would handle issues like data discrepancies or stakeholder queries. This will show your problem-solving skills and readiness to tackle challenges in the role.
