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- Tasks: Conduct audits of outsourced service providers in underwriting, claims, and product distribution.
- Company: Join a respected insurance organization with a friendly, hybrid work culture.
- Benefits: Enjoy a competitive salary, bonus opportunities, and a generous benefits package.
- Why this job: Make an impact by ensuring compliance and positive consumer outcomes while enjoying travel opportunities.
- Qualifications: Strong background in delegated authority and relevant audit experience required.
- Other info: Opportunities for overseas travel and collaboration on special audit projects.
The predicted salary is between 48000 - 60000 £ per year.
Quick Registration First Name * Last Name * e-mail * Phone * Sector Location
We are looking for a Qualified ACA/ACCA Accountant
HR Business Partner. to £70,000This well established
We are looking for a Numerate Graduate with at least
We are lookin for a Junior Finance Analyst to work
Date: 24 Apr 2023
Sector: INSURANCE
Type: Permanent
Location: London
Salary: £60000 – 71500 per annum
Email:
Ref: BT982
Delegated Authority Audit . to £71,500
This high respected insurance organisation offers a exceptionally friendly, hybrid work environment and a generous benefits package including bonus.
They are now looking for a candidate with a strong delegated authority background to be responsible for the organising of audits of all those Outsourced Service Providers to whom the company delegates authority. This could be in the form of underwriting, claims and / or product distribution. This will include audit preparation, on-site fieldwork, drafting of the audit report and of the tracking of the closure of audit findings.
The successful candidate will provide independent, unbiased, reasonable, assurance and validation that OSPs are operating as expected and are complying with contractual and regulatory requirements, laws (and best practice wherever possible) and have in place appropriate systems and controls to ensure positive consumer outcomes.
To plan, organise and carry out audits both onsite and remotely as required, this includes travel and opportunities for overseas travel.as per the Agency Audit Plan. The audits will typically focus on the processes and controls in all areas of delegated authority including policy underwriting, finance and reporting, claims, I.T, governance and compliance.
To report and make recommendations on the systems and procedures being reviewed, monitor management’s response and facilitate implementation.
Preparation and delivery of audit reports.
To identify any risks arising from Agency Audits carried out and ensure appropriate remedial action is communicated and action taken to address.
To maintain the ‘Audit Tracker’ in accordance with the guidelines set.
Identify and record regulatory and/or contract breaches found during audit
Escalate overdue audit findings
Maintain full audit records and evidence of testing work undertaken.
Assistance with annual audit planning and reporting to the relevant Management Committees where required.
Working alongside other business units or external resources on specialist ad hoc audit projects where required.
To carry out appropriate due diligence / on-boarding processes from time to time to ensure the suitability of potential new business and business partners and report findings accordingly.
Provide support to colleagues or other business units or external resources for ad hoc requests, or longer-term projects.
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Delegated Authority Audit employer: Taylor James Resourcing
Contact Detail:
Taylor James Resourcing Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Delegated Authority Audit
✨Tip Number 1
Familiarize yourself with the specific regulations and compliance standards relevant to delegated authority audits in the insurance sector. This knowledge will not only help you during the interview but also demonstrate your commitment to understanding the role.
✨Tip Number 2
Network with professionals in the insurance industry, especially those who have experience in delegated authority audits. Engaging in conversations can provide insights into the company culture and expectations, which can be beneficial during your application process.
✨Tip Number 3
Prepare to discuss your previous audit experiences in detail, particularly any instances where you identified risks or implemented improvements. Real-life examples will showcase your analytical skills and ability to add value to the team.
✨Tip Number 4
Stay updated on the latest trends and best practices in audit processes and technology. Showing that you are proactive about continuous learning can set you apart from other candidates and align with the company's values.
We think you need these skills to ace Delegated Authority Audit
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Delegated Authority Audit position. Understand the key responsibilities and required qualifications, especially the importance of a strong delegated authority background.
Tailor Your CV: Customize your CV to highlight relevant experience in auditing, compliance, and risk management. Emphasize any previous roles that involved working with outsourced service providers or similar responsibilities.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of the insurance industry and your ability to conduct audits effectively. Mention specific examples of past experiences that align with the job requirements.
Highlight Soft Skills: In your application, don't forget to mention soft skills such as communication, analytical thinking, and problem-solving. These are crucial for reporting findings and making recommendations effectively.
How to prepare for a job interview at Taylor James Resourcing
✨Understand the Delegated Authority Framework
Make sure you have a solid grasp of what delegated authority means in the insurance sector. Be prepared to discuss how you would assess compliance and effectiveness in this area, as it will be crucial for the role.
✨Showcase Your Audit Experience
Highlight your previous audit experiences, especially those related to outsourced service providers. Be ready to provide specific examples of audits you've conducted, the challenges faced, and how you overcame them.
✨Prepare for Technical Questions
Expect technical questions regarding regulatory requirements and best practices in auditing. Brush up on relevant laws and standards that apply to the insurance industry to demonstrate your expertise.
✨Demonstrate Strong Communication Skills
Since the role involves reporting and making recommendations, practice articulating your thoughts clearly and concisely. Be prepared to explain complex audit findings in a way that is understandable to non-experts.
