Audit Analyst, Delegated Underwriting Authority

Arch Capital Group; City Of London; On-site; GBP 30,000 - 40,000; Full time

Job summary

An international insurance organization seeks a qualified candidate to support the Delegated Underwriting Authority Audit Manager. This role involves maintaining the coverholder audit schedule, managing audit timelines, and liaising with both internal and external stakeholders. Candidates should have a minimum of one year of experience in delegated authorities and possess strong communication and analytical skills.

Qualifications

• Understanding of delegated authority contracts and governance process.
• Prior experience undertaking audits or reviewing audit reports.
• Ability to extract key issues from large quantities of information.

Responsibilities

• Support the audit function of Arch UK.
• Assist in maintaining the coverholder audit schedule.
• Monitor the timely receipt of audit reports.

Skills

Understanding of delegated authority contracts

Audit experience

MS Office proficiency

Project management skills

Excellent communication skills

Interpersonal skills

Education

Degree level education preferred

A Level education or equivalent

Tools

MS Excel

Job description

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.

Role Summary and Purpose

• To support the Delegated Underwriting Authority Audit Manager in overseeing the coverholder audit function of Arch UK

Key Tasks and Responsibilities

• Assist in maintaining the coverholder audit schedule
• Assist in the scheduling and scoping of audits
• Assist in the review of audit reports and identifying required follow up actions to be issued to the coverholder
• Monitor the timely receipt of audit reports and record their findings and recommendations in Arch internal systems and Lloyd's Delegated Audit Management system where required
• Manage the DUA Audit mailbox
• Liaise with internal and external stakeholders to ensure remediation of findings and recommendations, updating Arch and Lloyd's systems to assist with monitoring progress
• Maintain Arch approved auditors list and associated auditor Terms of Business Agreements
• Maintain the Arch coverholder and binding authority management system
• Liaise with Arch Compliance team where High Conduct Risk products are sold under binding authority arrangements

Role Requirements & Skills

• An understanding of delegated authority contracts and the governance process around these
• Prior experience undertaking audits and/or reviewing audit reports desirable
• MS Office, Excel intermediate
• Demonstrated project management skills
• Excellent communications skills, both verbal and written
• Strong interpersonal and team working skills

Ability to review significant quantities of information, identifying and extracting key issues

Qualifications

• Degree level education preferred, 'A' Level education minimum or equivalent relevant professional qualification
• Strong analysis and data processing skills
• Knowledge of Lloyd's structure and policies in delegated underwriting

Experience

• At least one year's experience working within delegated authorities, preferably within a delegated underwriting team.