Delegated Authority Audit Manager
1 week ago
Job summary
The successful candidate will play a key role in supporting the Head of Delegated Authority Operations and Controls with the effective oversight of delegated activities performed by Coverholders and Delegated Claims Administrators (DCAs).
Main duties
- Maintain and monitor the Chaucer Audit Panel, ensuring TOBAs are in place, and the quality/timeliness of audit reports is appropriately measured and reported on using a scoring matrix.
- Ensure the audit schedule is appropriately managed, with risk factors and previous audit outputs a key factor in determining the frequency of audits.
- Ensure that the scope of the audit is adequate based on previous findings and risk profile.
- Immediate onwards reporting of breaches to the Head of Delegated Authority Operations and Controls to ensure Lloyd's Third-Party Material Issues (TPMI) process is followed.
- Responsible for categorising the severity of audit recommendations, and setting due dates for compliance.
- Ensuring appropriate evidence is obtained to satisfactorily close audit recommendations.
- KPI reporting on audits scheduled, recommendations raised, and reports/recommendations overdue.
- Regular liaison with key stakeholders in the business on issues identified through the audit process.
- Support and deliver changes required to the audit scope as a result of new regulation.
- Support the Head of Delegated Authority Operations and Controls with adherence to FCA, PRA, CBI and Lloyd's requirements for delegated business.
- Improving MI capability for reporting on operational metrics.
- Implementation of technology that enables a smarter/more efficient way of working, in close collaboration with the project team.
- Continuously identify smarter, more efficient ways of working to enable commercial decision making.
Regulatory responsibilities
To the extent directed, support the Group's responsibility in relation to following:
- Comply with all policies and procedures and ensure that due regard is paid to providing good customer outcomes and the fair treatment of customers.
- Compliance with Lloyd's Byelaws and Minimum standards.
- Compliance with FCA and PRA requirements (UK Regulator).
- Compliance with Central Bank of Ireland (Irish Regulator).
- Ensure that the principles of providing good customer outcomes and the fair treatment of customers are upheld by Agents and Service Providers.
Relevant Experience
Essential
- MGA and binder experience, ideally from a Syndicate / Managing Agent / Lloyd's of London perspective.
- Knowledge of Lloyd's DA regulation with regards to binders.
- Insurance knowledge, ideally across multiple lines of business.
- Strong presentation skills, including Excel and PowerPoint.
Desirable
- DCOM and ATLAS knowledge.
- DAM Knowledge.
- ACII.
Personal skills
- Proactive.
- Flexible.
- Very good interpersonal skills.
- Excellent organisational skills.
- Excellent communication skills with the ability to liaise at all levels.
- Work as part of a team.
- Adapt to a pressured environment.
- Self-Motivated.
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