Delegated Authority Audit Manager

1 week ago


Copenhagen, Copenhagen, Denmark iCAN Apply Full time

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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