Delegated Authority Audit Manager

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

ABOUT US

Chaucer is a leading insurance group at Lloyd’s, the world’s specialist insurance market. We help protect industries around the world from the risks they face. Our customers include major airlines, energy companies, shipping groups, global manufacturers and property groups.

Our headquarters are in London, and we have international offices in Bermuda, Copenhagen, Dubai and Singapore to be closer to our clients across the world. To learn more about us please visit our website.

Chaucer is committed to diversity, actively values difference and respects people regardless of the protected characteristics which are outlined in the Equality Act 2010 (UK legislation) as a result of the Equal Treatment Directive 2006 (EU legislation). 
A diverse workforce and an inclusive workplace are core to our success as a business and integral to our winning strategy and culture. We recruit from the widest available pool of talent, and our hiring, assessment and selection process is fair, free from bias and one which ensures we select the right person for the job, based on merit. We are committed to promoting a culture that actively values difference, and recognises that everyone has the right to be treated with dignity and respect throughout their employment.
We are open to considering flexible working arrangements for all roles and encourage you to outline your needs during the interview process.