Delegated Authority Technician.

Taylor James Resourcing; City Of London; On-site; GBP 40,000 - 55,000; Full time

Job summary

A respected underwriting firm is seeking a Delegated Authority Technician in London. This permanent role offers a salary between £40,000 and £55,000. Responsibilities include managing Coverholder approvals, processing renewals, and ensuring compliance with underwriting systems. The ideal candidate will have strong stakeholder engagement skills and a background in risk assessment. This is an excellent opportunity for professionals in the insurance sector.

Qualifications

• Strong analytical skills in risk assessment and management.
• Excellent communication skills for stakeholder engagement.
• Ability to draft and review contractual documentation.

Responsibilities

• Facilitate approval of new Coverholders and Binding Authority Agreements.
• Handle Coverholder applications under guidance.
• Process and manage approvals for renewals.

Skills

Stakeholder engagement

Risk assessment

Document drafting

Data management

Job description

Our client is a well-established and highly regarded Underwriter with an excellent market reputation. They are now looking for a new person to join their Delegated Authority team as a Delegated Authority Technician, with a salary of £40,000 - £55,000 per annum.

The successful candidate's key focus will be to administer best delegated underwriting management practices, participating in internal projects and market initiatives where required to achieve this aim. In addition, it is essential to provide strong stakeholder engagement for delegated underwriting across the Business and with Coverholders, brokers, and Lloyd's.

Responsibilities:

• Facilitating approval of new Coverholders and Binding Authority Agreements
• Handling Coverholder applications under the guidance of the Head of Delegated Underwriting Authority
• Processing and managing approval of renewals including preparation of renewal data, annual due diligence, internal sign-off documents, drafting agreements, pre-bind quality assurance, and registrations
• Undertaking Conduct Risk review on new and renewal Coverholders and referring to the Product Oversight Committee where required
• Resolution of audit recommendations relevant to the agreed portfolio of coverholders
• Drafting of documentation for direct deal facilities, where required
• Reviewing and managing sign-off of lineslips and consortiums
• Ensuring accurate risk entry and rating in the underwriting system, processing endorsements, and updating systems where required for facilities managed
• Ensuring account information is accurate and processed in Lloyd's delegated authority systems
• Monitoring of premium income and commissions against booked estimates monthly
• Attendance at the quarterly Delegated Authority Management Group
• Participation on internal projects and meetings where required
• Handling the processing of bordereaux (written and paid) onto internal systems and Lloyd's systems
• Help to maintain internal logs related to receipt of bordereaux and its status of upload
• Monitor the quality of bordereaux data and resolving data issues by liaising with Underwriters / Coverholders & Brokers

Date: 25 Oct 2024

Sector: INSURANCE

Type: Permanent

Location: London

Salary: £40,000 - £55,000 per annum

Contact: [e-mail]

Ref: BT452