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The Delegated Authority Team sit between Compliance and the “business”, implementing processes and oversight in a moderated and achievable way. The purpose of this role is to support the smooth and effective running of the DA Processes, which includes overseeing and supporting the DA Analyst and DA Technician in fulfilling their duties, assisting with query resolution, monitoring all aspects of workflow, (including pre and post bind activities), sponsoring Companies to become Lloyd’s Approved Coverholders, reviewing Lead DCOM entries and conducting quarterly deep dive DA Controls reviews.
The role requires excellent attention to detail as minor discrepancies can have huge consequences. Strong organisational skills and the ability to multi task are a must as the volume of open cases at any one time can be high.
Key Responsibilities & Accountabilities
• Supporting the governance and oversight of all delegated authorities written on Syndicate paper
• Maintaining an awareness of market developments that may impact the HSL Delegated Underwriting Authority processes
• Representing the company at Lloyd’s or Market DA meetings e.g. DUM forums / Lloyd’s Projects in the Head of DA’s absence
• Promoting Business engagement with DA Requirements
• Providing day to day support, guidance, query resolution, supervision and oversight of the DA Analyst and Technician
• Providing absence / surge cover for the DA Analyst and Technician
• Proactively managing workflow processes, collaborating with others to ensure timely completion of tasks
• Monitoring performance against the companies DA requirements, interrogating any instances of non-adherence and reporting incidents to the Head of DA
• Adhering to established procedures and service standards to ensure compliance with regulatory, corporate, and operational requirements.
• Coordinating and overseeing the annual review of the DA process guides, ensuring they are accurate and reflect best practice before sign off by the Head of DA
• Delivering the quarterly DA Controls Reviews and presenting findings to the Head of DA
• Processing Lead DCOM entries
• Processing New Coverholder Applications
• Processing mid-term contract changes including endorsements or permission changes
• Assisting in the production of MI as required
• Deputising for the Head of DA as required
• Building and maintaining constructive working relationships both internally and externally, including with Underwriters, Operations, Compliance, Brokers, Lloyd’s and other Managing Agents
Keys Skills
• Proven experience in a technical delegated authority role.
• Experience in supervising others
• Practical experience of sponsoring Coverholder Applications and conducting Coverholder due diligence
Delegated Authority Officer
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