Delegated Authority Technician.

Job Title: Delegated Authority Technician

Salary: £40,000 - £55,000

Location: London

Date: 25 Oct 2024

Sector: INSURANCE

Type: Permanent

A well-established and highly regarded Underwriter has an excellent market reputation and is now looking for a new person for their Delegated Authority team.

The successful candidate's key focus is 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:

1. Facilitating approval of new Coverholders and Binding Authority Agreements
2. Handling Coverholder applications under the guidance of the Head of Delegated Underwriting Authority
3. 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
4. Undertaking Conduct Risk review on new and renewal Coverholders and referring to the Product Oversight Committee where required
5. Resolution of audit recommendations relevant to the agreed portfolio of coverholders
6. Drafting of documentation for direct deal facilities, where required
7. Reviewing and managing sign-off of lineslips and consortiums
8. Ensuring accurate risk entry and rating in the underwriting system, processing endorsements, and updating systems where required for facilities managed
9. Ensuring account information is accurate and processed in Lloyd’s delegated authority systems
10. Monitoring of premium income and commissions against booked estimates monthly
11. Attendance at the quarterly Delegated Authority Management Group
12. Participation in internal projects and meetings where required
13. Handling the processing of bordereaux (written and paid) onto internal systems and Lloyd’s systems
14. Help to maintain internal logs related to receipt of bordereaux and its status of upload
15. Monitor the quality of bordereaux data and resolving data issues by liaising with Underwriters, Coverholders & Brokers