Delegated Authority Oversight 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

• Perform and oversee the onboarding of New Coverholder and DCA arrangements, supporting the application for approval to Lloyd’s where required

• Perform and oversee the renewal due diligence process for both Coverholders and DCAs as part of Chaucer’s ongoing monitoring

• Work closely with the Delegated Audit Manager on issues identified through both the due diligence and audit process.

• 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

• Regular liaison with key stakeholders in the business on issues identified through the due diligence process

• Ensure pre bind quality assurance checks are performed on all Chaucer binding authority business

• Ensure pre bind quality assurance checks are performed on Lead Chaucer lineslip business, and post bind for follow business

• Ensure pre bind quality assurance checks are performed on all Chaucer consortia arrangements

• Act as a point of liaison for ensuring Master/Group policies are correctly structured, and local regulatory requirements are adhered to

• Support and deliver changes required to oversight 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

• 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.