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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 a focus on continuous improvement and innovation.
The predicted salary is between 36000 - 60000 £ 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.
Bordereaux Management
- 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.
Continuous Improvement & MI
- 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.
Binding Authority Technician... employer: Nashrock Recruitment
Contact Detail:
Nashrock Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Binding Authority Technician...
✨Tip Number 1
Network like a pro! Reach out to your connections in the industry, especially those who work with Binding Authority Agreements. 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 and London Market systems. Be ready to discuss your experience with platforms like ATLAS and DCOM, as well as how you’ve handled compliance and governance in past roles.
✨Tip Number 3
Showcase your analytical skills! Bring examples of how you've managed bordereaux data or resolved discrepancies in previous jobs. This will demonstrate your attention to detail and problem-solving abilities to potential employers.
✨Tip Number 4
Don’t forget to apply through our website! We’re always on the lookout for talented individuals like you. Plus, it’s a great way to ensure your application gets the attention it deserves.
We think you need these skills to ace Binding Authority Technician...
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Binding Authority Technician role. 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 of London Market experience and how you can contribute to our team at StudySmarter.
Showcase Your Attention to Detail: In this role, attention to detail is key. Make sure to highlight specific examples in your application where you've demonstrated this skill, especially in managing compliance and governance tasks. We love candidates who can keep things accurate and organised!
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 don’t miss out on any important updates. Plus, it’s super easy!
How to prepare for a job interview at Nashrock Recruitment
✨Know Your Stuff
Make sure you brush up on your knowledge of Binding Authority Agreements and the systems mentioned in the job description, like Whitespace, ATLAS, and DCOM. Being able to discuss these confidently will show that you're not just familiar with the role but also genuinely interested in it.
✨Showcase Your Experience
With over 10 years in the London Market, you’ll want to highlight specific examples from your past roles that demonstrate your expertise in delegated authority administration. Prepare a couple of stories that showcase your problem-solving skills, especially around compliance and governance.
✨Communicate Clearly
Since the role involves liaising with various stakeholders, practice articulating your thoughts clearly and concisely. Think about how you can explain complex concepts simply, as this will be crucial when responding to queries during the interview.
✨Be Ready for Data Discussions
Given the emphasis on bordereaux management and data reconciliation, be prepared to discuss your experience with data analysis and reporting. Bring examples of how you've handled discrepancies or improved processes in the past, as this will demonstrate your analytical skills and attention to detail.
