Head of Delegated Authority Operations and Controls

Job summary

The successful candidate will play a key role in supporting the Group Head of Delegated Authority Oversight with the design and implementation of an enhanced Delegated Authority and Controls Framework. The role will include ongoing oversight of all Compliance and Regulatory delegated activities, process improvement and representation on both internal committees and market meetings/committees as a delegate to the Group Head where required.

Main duties

• Support the Group Head of Delegated Authority Oversight with the design and implementation of enhanced delegated authority processes across all delegated methods of placement

• Assist in the centralisation of all Delegated Authority Oversight Activities to include onboarding, slip review, audit and renewal due diligence

• Create and operate a delegated controls framework over all processes related to delegated activities, with a focus on evidence-based outcomes supporting effective control design, and exception reporting to the Group Head of Delegated Authority Oversight

• Regular liaison with the Risk Management team regarding the control’s framework, identified risks, and emerging risks

• Create and maintain a centralised share centre for all onboarding and ongoing oversight activities

• Ongoing enhancement of the onboarding and renewal due diligence to ensure regulatory compliance with changes to global regulation

• Ongoing enhancement of the pre bind slip review quality assurance process to ensure regulatory compliance with changes to global regulation

• Maintain the Delegated Authority Controls Framework, Process and Procedure manual to ensure it remains current and relevant to the department’s operations

• Support the Group Head of Delegated Authority Oversight with adherence to FCA, PRA, CBI and Lloyd’s requirements for delegated business.

• Improving MI capability for automatic reconciliations across multiple platforms (PAS, DCOM, Bordereaux Management System), mitigating gaps in Oversight

• Implementation of technology that enables a smarter/more efficient way of working, in close collaboration with the project team.

• Assist in building a resource model that is proportionate to the delegated business written

• 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

Skills & Competencies

• 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

• DCOM and ATLAS knowledge

• Excellent presentation skills, including Excel and PowerPoint

• Ability to think strategically and innovatively to aid in the development of the business

• Excellent interpersonal, decision-making and organisational skills

• Ability to guide, inspire, and manage their team or stakeholders towards achieving common objectives

• Is adaptable, having the capability to adjust actions, and behaviors to effectively respond to change

• Ability to challenge constructively and respectfully, being able to negotiate to reach mutual agreement by open dialog

• Ability to influence decisions outside span of direct control and instil values of the company in its employees

• An effective communicator with the ability to convey and receive information, ideas, and emotions effectively and clearly

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.