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Delegated Underwriting Analyst - Syndicate & Company
£35000 - £40000 per annum
City of London, Greater London
MW Appointments
Delegated Underwriting Analyst
Salary to £40,000 + benefits and CII study Support
Permanent Contract - City / Home Hybrid Working Flexibility
Business : Lloyds Syndicate and Company
Role Summary
To undertake due diligence of third party Coverholders and International Distribution Companies and conduct quality control reviews of all forms of delegated underwriting (binding authorities, lineslips, et al). Working in a team of 7 alongside the Delegated Underwriting Manager , the Deputy Delegated Underwriting Manager and the Syndicate analyst team.
Duties and responsibilities
1 Undertake Coverholder Due Diligence by reviewing relevant documentation, e.g. Lloyd's annual compliance, financial crime and other business procedures, PI/E&O insurances, UK and international trading licences, etc., and using Lloyd's (Atlas) and MRS tools.
2 Conduct timely reviews of Binding Authorities, Lineslips and other forms of delegated underwriting agreements (Pre-Bind Quality Assurance, PBQA) for compliance with Lloyd's, and internal best practice requirements using relevant tools such as DCOM, Crystal, etc.
Liaise with Underwriters, Brokers and other delegated underwriting stakeholders to ensure due diligence and reviews are undertaken in a timely fashion and feedback is dealt with as required.
1 Maintain accurate delegated underwriting records, including managing Coverholder and Binding
Authorities entries using dedicated tools (Subscribe) and undertaking quality control of the underwriting teams' entries on a weekly and monthly basis.
1 Review Lloyd's international regulatory trading requirements, e.g. Crystal reviews to support PBQA.
2 Support the management with the adoption of Internal Audit recommendations, regulatory changes, etc.
3 Support the implementation of Lloyd's, MRS, FCA and other regulators' policies and procedures in relation to delegated underwriting, e.g. circulate Lloyd's Market Bulletins.
4 Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
Knowledge
1 Sound business knowledge and understanding of:
â Lloyd's delegated authority tools, e.g. Atlas, DCOM and all future developments
â Underlying principles of insurance/reinsurance practice
â Lloyd's Market practices and regulation, specifically relating to delegated underwriting
1 Demonstrate clear understanding of all company specific procedures that relate to own role
2 Demonstrate clear understanding of the roles of colleagues and their relationships to the structure and operation of the department and wider organisation
3 Demonstrate willingness to continue to develop knowledge through formal and informal learning, both internally and externally to the organisation
REF - 8800
MW Appointments is acting as an Employment Agency in relation to this vacancy.
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