Senior Delegated Underwriting Due Diligence Analyst

Canopius Group; London; Hybrid; GBP 45,000 - 75,000; Full time

Job summary

An established industry player is seeking a Senior Delegated Underwriting Due Diligence Analyst to join their UK Operations team. This role involves ensuring that all delegated underwriting is compliant with internal policies and regulatory requirements. You will conduct thorough due diligence on Coverholders, assist underwriting units, and monitor changes in the regulatory environment. The company offers a flexible hybrid working model and a comprehensive benefits package focused on employee wellbeing. If you have a strong background in delegated underwriting and are looking to make a meaningful impact in a dynamic environment, this is the perfect opportunity for you.

Benefits

Hybrid working

Competitive base salary

Pension contributions

Flexible benefits

Discretionary bonus

Health insurance (family cover)

Qualifications

• In-depth knowledge of delegated underwriting authority practices in the Lloyd’s market.
• Strong analytical and IT skills, especially in Microsoft Excel.

Responsibilities

• Conduct due diligence and risk assessments for Coverholders.
• Monitor regulatory changes and ensure compliance.
• Assist in managing delegated authority business operations.

Skills

Delegated underwriting authority practices

Insurance industry practices

Coverholder onboarding process

Analytical skills

Microsoft Excel

Communication skills

Organizational skills

Time management skills

Ability to work in a team

Tools

Atlas

DCOM

Job description

Senior Delegated Underwriting Due Diligence Analyst

London, United Kingdom

Job Description

The Role

This is a 12 month Fixed Term Contract.

A member of the UK Operations team, reporting to the Delegated Underwriting Manager, you will be providing assurance to Canopius that all forms of delegated underwriting are being underwritten, registered, processed and managed in accordance with the agreed Delegated Underwriting, and other internal policies. The main purpose of the Delegated Authority Management function is to provide appropriate governance, frameworks and controls of the Delegated Authority Portfolio in order to mitigate risks.

Key Responsibilities

1. Conduct thorough due diligence, preparation & submission of new applications to Lloyd’s (including UK, EEA & International Coverholders, Class of Business, Regional, Relationships, Branch applications etc).
2. Undertake technical due diligence risk assessment reviews of new and existing Coverholders, ensuring our partners meet required standards.
3. Provide assistance to underwriting units in relation to all aspects of delegated authority including technical advice and Coverholder approval processes.
4. Conduct pre & post bind reviews for lead and follow binders, master policies, consortiums and line slips to ensure adherence with Canopius procedures and regulatory requirements.
5. Monitor and evaluate changes in the regulatory environment and collaborate with relevant stakeholders to devise solutions to meet regulatory requirements as required.
6. Preparation of regular internal reporting packs.
7. Utilisation of Lloyd’s registration and compliance systems, including Atlas and DCOM.
8. Assist the Delegated Underwriting Manager and Head of Delegated Authority, as required, in the ongoing management of all areas of Canopius’ delegated authority business.
9. Support the Delegated Underwriting Manager to manage offshore team’s workflow, responding to queries where required and monitoring quality.
10. Peer review of contract checks as appropriate.
11. Participate in Canopius Delegated Underwriting change projects including development of improved processes and systems testing.
12. Deputise for Delegated Underwriting Manager where required through attendance at meetings, monitoring workload and completion of tasks.

Skills

1. Detailed understanding of delegated underwriting authority practices, preferably within the Lloyd’s market
2. Strong knowledge of insurance industry practices and current regulatory requirements for Coverholder Management
3. Experience of Coverholder onboarding process with Lloyd’s
4. Ability to work as part of a team as well as under own initiative
5. Excellent attention to detail
6. Strong analytical & IT skills in Microsoft Excel and other MS office systems
7. Good communication and interpersonal skills
8. Good organisational and time management skills, ability to prioritise and meet deadlines
9. Ability to master new concepts quickly, and take initiative with own personal development

About Us

Our benefits
We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, pension contributions, flexible benefits, discretionary bonus, insurances including health (family) cover, and many other benefits to enhance financial, physical, social and psychological health.

About Canopius
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.

At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.

Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.

We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds.

We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.