Delegated Underwriting Controller
The Delegated Underwriting team provide a central service for the administrative support and oversight to Underwriters and claims teams through the Underwriting due-diligence process, bordereaux administration and technical processing, credit control, coverholder audits and management reporting to senior management. In addition the team work with external contacts including brokers, coverholders and regulators.
A Delegated Underwriting Controller is required to work within the Delegated Underwriting team with responsibility for managing and administering the entire delegated underwriting process. The successful candidate would be expected to achieve individual and team targets, and fully contribute to the overall success of the department.
- Responsible for day to day management of delegated underwriting authorities in accordance with the Delegated Underwriting Policy and Procedures.
- Process both new and renewal delegated underwriting authorities through our internal delegated workflow system, which includes full due diligence on both coverholders and claims TPA's, ensuring all checks are appropriately managed and signed off.
- Work with underwriters to ensure administration of the portfolio is in line with regulatory defined conduct requirements and agreed minimum standards for all territories and keep abreast of all regulatory change making sure our working practices kept current.
- Liaison with Underwriters, brokers and coverholders around our on-boarding requirements as well as future operational needs are met or are addressed in required.
- Identifying and escalating any breaches, should they occur to management and compliance.
- Work closely with the coverholder audit team to ensure all unresolved issues or matters of concern are raised in the audit.
- Grow and maintain underwriter/broker/coverholder relationships in support of the business through the life of the portfolio.
- Work closely the delegated bordereaux management technicians and credit controllers to ensure contract terms of trade are being adhered to. Discuss any written vs signed issues with underwriters and escalate to Director of Delegated Underwriting Management where necessary.
- Work collaboratively with other internal partners as required for each facility. eg. Compliance/Legal and Reg, Claims, Internal Audit, Risk Management, Finance, Corporate Management and Actuarial.
- Manage reporting requirements on their book of business.
- Any ad hoc tasks required by the Director of Delegated Underwriting Management.
Skills & experience
- Will be educated to a minimum of GCSE or equivalent
- Possess strong communication skills
- Will be a competent user of MS Office suite and an aptitude to learn in-house software is essential
- Will have experience of operational performance within an underwriting environment.
- Possess a full and thorough understanding of compliance issues, including conduct, IDD, GDPR, licencing, other regulatory matters.
- Good understanding of the applicable Lloyd's minimum standards and ensuring we meet that criteria.
- Good level of expertise and understanding of market practices and processes for delegated business.
- Able to interpret and understand of slip definitions and wordings, ensuring all our required clauses are included and up to date both from an underwriting and claims perspective.