DA Assurance Specialist (1Yr FTC)

Munich Re; London; On-site; GBP 40,000 - 80,000; Full time

Job summary

An established industry player is seeking a dedicated professional to enhance oversight and control in Delegated Authority relationships. This role involves capturing data, conducting detailed analysis, and ensuring quality assurance of audits and processes. You will collaborate closely with colleagues and external stakeholders, fostering best practices while managing audit findings. With a focus on compliance and governance, this position offers a rewarding compensation package, including an on-target bonus and generous leave. If you are analytical, proactive, and enjoy working in a team-oriented environment, this opportunity is perfect for you.

Benefits

25 days annual leave

Private medical insurance

10% employer contributory pension

Fully paid 6 months family leave

Option to purchase additional leave

Qualifications

• Strong experience in Delegated Authority oversight and controls.
• Proficiency in report writing and data analytics.

Responsibilities

• Monitor and analyze audits of approved DA arrangements.
• Conduct quality assurance reviews and share findings.
• Support due diligence activities for onboarding new agents.

Skills

Delegated Authority models

Regulatory landscape knowledge

Report writing

Microsoft Office Suite

MGA and TPA operations

Auditing

Data analytics

Power BI

Job description

Company
Great Lakes Insurance SE
Location
London, United Kingdom

Job Purpose:

To support a new Delegated Authority (DA) Assurance function, designed to enhance oversight and control of Delegated Authority relationships within Great Lakes.

This role focuses on capturing additional data, performing detailed analysis, and conducting quality assurance to strengthen governance over DA arrangements, audits, and processes, including those of Great Lakes' Outsourced Service Providers (OSPs).

Key Responsibilities:

1. Act as a deputy to the Assurance Manager as needed.
2. Promote best practices in Delegated Authority oversight.
3. Monitor, analyze, and oversee audits of approved DA arrangements by Third Parties and Great Lakes partners.
4. Share audit findings and trend analysis with business stakeholders.
5. Contribute to due diligence activities for onboarding new agents, coverholders, and TPAs, including on-site reviews as needed.
6. Conduct quality assurance reviews of audits and share findings with the Head of DA Audit and Assurance and relevant stakeholders.
7. Facilitate feedback for internal audit issues, assisting with tracking and reviewing follow-up actions.
8. Support adherence to the Audit Risk Appetite, aiming to minimize and avoid overdue audit findings.
9. Foster and maintain collaborative relationships with colleagues, business partners, and external stakeholders.
10. Provide support for ad hoc projects or long-term initiatives aligned with Great Lakes’ goals.

Key Duties & Tasks:

1. Oversee audits of DA arrangements and analyze reports from OSPs.
2. Communicate results and trend analysis of Sub-Delegated and Third Party Audits to relevant business units.
3. Conduct audits of Sub-Third Party Service Providers both onsite and remotely, with occasional international travel.
4. Assist in preparing regular MI reporting for Great Lakes UK and SE boards and committees, ensuring data accuracy and relevance.
5. Support due diligence and onboarding processes, assessing the suitability of new business partners.
6. Participate in Quality Assurance Dip Checking and "Check the Checker" reviews for the Delegated Authority Audit Pillar.
7. Manage the internal issues log, coordinating with Subject Matter Experts (SMEs) to address and resolve concerns.
8. Clarify audit versus BAU oversight responsibilities within the business.
9. Work collaboratively with ABMs, Claims, and SMEs to proactively manage audit findings, helping prevent overdue findings.
10. Ensure compliance with Munich Re’s Code of Conduct and FCA Conduct Rules.
11. Support regulatory reporting requirements with the reporting function as needed.

Key Skills & Experience:

1. Strong experience with Delegated Authority models, oversight, and controls.
2. Solid knowledge of the regulatory landscape surrounding insurance products.
3. Proficiency in report writing and Microsoft Office Suite.
4. Knowledge of MGA and TPA operations.
5. Experience in auditing and familiarity with legal contracts.
6. Skills in data analytics and Power BI.

Personal Attributes:

1. Strong analytical and creative thinking skills.
2. Excellent organizational and interpersonal skills.
3. Team-oriented, with a proactive approach to sharing knowledge and ideas.
4. Effective communication and client-facing abilities.
5. Willingness to travel (up to 10% of the role, including within the UK and internationally).
6. Flexible and collaborative, able to advise and provide constructive feedback.
7. Consistently fair and pragmatic, offering independent and balanced perspectives.

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%.

We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.