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- Tasks: Support the Assurance Manager in overseeing Delegated Authority audits and quality assurance.
- Company: Join a dynamic company focused on enhancing governance and oversight in insurance.
- Benefits: Enjoy opportunities for professional growth, collaboration, and potential international travel.
- Why this job: Be part of a team that values best practices and fosters strong relationships with stakeholders.
- Qualifications: Strong experience in Delegated Authority models and proficiency in report writing required.
- Other info: Ideal for those passionate about compliance and making an impact in the insurance industry.
The predicted salary is between 36000 - 60000 £ per year.
To support a new Delegated Authority (DA) Assurance function, designed to enhance oversight and control of Delegated Authority relationships within the company.
This role focuses on capturing additional data, performing detailed analysis, and conducting quality assurance to strengthen governance over DA arrangements, audits, and processes, including those of the company\’s Outsourced Service Providers (OSPs).
Key Responsibilities:
- Act as a deputy to the Assurance Manager as needed
- Promote best practices in Delegated Authority oversight
- Monitor, analyse, and oversee audits of approved DA arrangements by Third Parties
- Share audit findings and trend analysis with business stakeholders
- Contribute to due diligence activities for onboarding new agents, coverholders, and TPAs, including on-site reviews as needed
- Conduct quality assurance reviews of audits and share findings with the Head of DA Audit and Assurance and relevant stakeholders
- Facilitate feedback for internal audit issues, assisting with tracking and reviewing follow-up actions
- Support adherence to the Audit Risk Appetite, aiming to minimize and avoid overdue audit findings
- Foster and maintain collaborative relationships with colleagues, business partners, and external stakeholders
- Provide support for ad hoc projects or long-term initiatives aligned with the company\’s goals
Key Duties & Tasks:
- Oversee audits of DA arrangements and analyse reports from OSPs
- Communicate results and trend analysis of Sub-Delegated and Third-Party Audits to relevant business units
- Conduct audits of Sub-Third-Party Service Providers both onsite and remotely, with occasional international travel
- Support due diligence and onboarding processes, assessing the suitability of new business partners
- Clarify audit versus BAU oversight responsibilities within the business
- Work collaboratively with ABMs, Claims, and SMEs to proactively manage audit findings, helping prevent overdue findings
Key Skills & Experience
- Strong experience with Delegated Authority models, oversight, and controls
- Solid knowledge of the regulatory landscape surrounding insurance products
- Proficiency in report writing and Microsoft Office Suite
- Experience in auditing and familiarity with legal contracts
Assurance Specialist employer: The Emerald Group Ltd, Search and Selection
Contact Detail:
The Emerald Group Ltd, Search and Selection Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Assurance Specialist
✨Tip Number 1
Familiarize yourself with the Delegated Authority models and the regulatory landscape surrounding insurance products. This knowledge will not only help you understand the role better but also demonstrate your commitment to the field during discussions.
✨Tip Number 2
Network with professionals in the insurance industry, especially those involved in audit and compliance roles. Engaging with them can provide insights into best practices and may even lead to referrals for the position.
✨Tip Number 3
Stay updated on the latest trends and challenges in Delegated Authority oversight. Being knowledgeable about current issues can give you an edge in interviews and show that you're proactive about your professional development.
✨Tip Number 4
Prepare to discuss specific examples from your past experience where you've successfully managed audits or quality assurance processes. Concrete examples will help illustrate your skills and fit for the Assurance Specialist role.
We think you need these skills to ace Assurance Specialist
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Assurance Specialist position. Understand the key responsibilities and required skills, as this will help you tailor your application to highlight relevant experiences.
Highlight Relevant Experience: In your CV and cover letter, emphasize your experience with Delegated Authority models, oversight, and controls. Provide specific examples of how you've successfully managed audits or quality assurance processes in previous roles.
Showcase Analytical Skills: Since the role involves detailed analysis and trend reporting, include examples in your application that demonstrate your analytical skills. Mention any tools or methodologies you have used to analyze data effectively.
Tailor Your Cover Letter: Craft a personalized cover letter that addresses the company's goals and how your background aligns with their needs. Mention your ability to foster collaborative relationships, as this is crucial for the role.
How to prepare for a job interview at The Emerald Group Ltd, Search and Selection
✨Understand Delegated Authority Models
Make sure you have a solid grasp of Delegated Authority models and their oversight. Be prepared to discuss your experience with these models and how you've implemented best practices in previous roles.
✨Showcase Your Analytical Skills
Since the role involves detailed analysis and quality assurance, be ready to provide examples of how you've successfully analyzed data and communicated findings in past positions. Highlight any specific tools or methodologies you used.
✨Familiarize Yourself with Regulatory Standards
Brush up on the regulatory landscape surrounding insurance products. Being able to discuss relevant regulations and how they impact Delegated Authority relationships will demonstrate your expertise and preparedness for the role.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills and ability to manage audit findings. Think of situations where you've had to navigate complex audits or collaborate with stakeholders to resolve issues.
