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Underwriting Compliance Specialist

You will be responsible for assisting the Underwriting Audit Manager in delivering the audit plan following up on audit findings and helping with associated underwriting controls activities across all classes of business.

The role will additionally involve assisting the Underwriting Operations Manager with the management of the underwriting governance framework, particularly associated with underwriting authorities, breach analysis and exception reporting.

Key Responsibilities

  • The key function is the delivery of the underwriting audit plan to ensure we maintain a robust approach to underwriting controls within appropriate timescales for the entire organisation. This will involve strong communication and organisational skills in order to gain expert resource to support the underwriting audit function and closely liaise with the Business Unit Heads and the senior underwriting team.
  • Comply with all applicable legal and regulatory requirements and ensure, at a level appropriate to the position, that appropriate measures are in place to ensure this compliance.
  • Ability to assist the Underwriting Audit Manager with development and expansion of the underwriting audit framework.
  • Support in the underwriting audit process including the design of the audit pre-audit questionnaires and pre-audit information.
  • Support the communication of the underwriting audit results to the Underwriting Audit Manager and providing regular reports to the relevant Business Unit Heads, senior management and the Underwriting Committee.
  • Monitoring and managing actions arising out of underwriting audits to ensure completion in a timely manner and producing monthly reporting on the status of outstanding actions.
  • Additionally provide support for the issuance of all staff underwriting authorities. Ensure that all authorities are reviewed on an annual basis and that all new starts are processed appropriately.
  • Provide support to the Business Unit Heads to coach new employees on underwriting principles.
  • To provide support in the development of the underwriting systems to promote remote auditing.
  • Manage the controls associated with authoring Peer Review across the business.
  • Undertake Lloyds and participate in independent reviewers' conferences and other associated sessions where appropriate.

Skills, Knowledge & Experience

  • Knowledge and experience of both Lloyd's and the company markets.
  • Solid communication and presentation skills with the ability to manage difficult conversations.
  • Solid knowledge and experience of either a technical area, underwriting a commercial line of business or a role in compliance for a commercial insurer or syndicate.
  • Ability to provide advice regarding logistical issues to ensure that the audit team has the infrastructure in place to allow them to work remotely.
  • Solid analytical and problem solving skills, able to identify, analyse and resolve issues.
  • Knowledge of Microsoft Office Suite as well as other business-related software.
  • Good report authoring skills as the role will involve drafting a number of reports to stakeholders.
  • Ability to work in conjunction with a number of key departments including Underwriting, Legal & Compliance and Internal Audit.
  • Effective time management to ensure completion of the underwriting audit timetable set by the Underwriting Audit Manager.
  • Ability and willingness to travel.
  • Language skills in any or all of the following: French, German, Italian and Danish would be beneficial.

Visit the IDEX Consulting Ltd website for further opportunities. We value diversity and always provide guidance based on merit. Please note that the information supplied may be retained for up to 3 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy.

Underwriting Compliance Specialist

London, UK
Full time
Compliance, Underwriting
Combined / Package

Published on 01/04/2022

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