This position involves the execution of the business plan through effective delivery of the Delegated Underwriting function. The key objective is to drive forward the strategy and objectives of delegated underwriting business across all classes of business for both company and syndicate platforms working closely and supporting the Delegated Underwriting Director. The position will involve interaction with many stakeholders across the business including Underwriting, Regulatory Affairs, , Claims, Finance, Distribution, Credit Control and external stakeholders including Lloyd’s.
Key Responsibilities
- Develop and successfully deliver the delegated underwriting business plan in alignment with the overall business plan and strategy. Specifically in relation to;
- Collaboration with Underwriting and various in-house divisions to support the due diligence and onboarding process of all Delegated Underwriting opportunities.
- Stakeholder management, both internal and external
- Support the relationship with Lloyd’s of London Coverholder Management team(s).
- Oversee and co-ordinate the approval of new coverholders and binding authority renewals, carrying out and evidencing the appropriate due diligence assessment, including relevant reviews and input from related stakeholder parties
- Ensure the delegated underwriting processes and procedures are aligned with the operating model including the underwriting governance framework.
- Optimise business performance by providing accurate and timely management information relating to coverholder onboarding, performance and oversight.
- Achieve stakeholder sign off pertaining to stakeholder involvement of due diligence and onboarding process, including but not limited to Claims, Claims Vendor Management, Finance, Regulatory Affairs.
- Lliaise with, manage and support all stakeholder activities including close collaboration with Underwriting with the ability to resolve any issues.
- Organise regular formal delegated underwriting review meetings to ensure all delegated business is considered in a timely manner with appropriate evidenced sign-off at the correct authority level.
- Follow due process paying attention to current and changing regulatory frameworks closely working with the regulatory affairs team.
- Update and maintain DU records to ensure an effective and fully up to date record and audit trail is in place reflecting new, renewal and mid-term changes.
- Monitor and collaborate with the CSC function to ensure that the delegated business is processed correctly and that the CSC has sufficient information available to correctly record information on internal systems. Mitigate insufficient information by working closely with Underwriting, Operations and external business partners to ensure accuracy of data, correct formatting and timely receipt.
- Continuous review of systems and processes, optimising organisational efficiency to ensure best practices for all stakeholders involved.
- Support, from time to time, the bordereau management process to ensure bordereaux are received in a timely manner.
- Support the production of all Pre-bind management information metrics required within the Governance Framework, pertaining in particular to in house Committee packs and reporting.
- Working with the Delegated Underwriting Director and Underwriters to manage and develop coverholder relationships
- Support, from to time, the Programs Operation Manager to facilitate timely Coverholder audits to ensure our delegated underwriting partners are writing business in accordance with CNAH standards and controls.
- Support, from time to time the maintenance and update to Policies and Procedures for Delegated Underwriting where instructed, inclusive of risk and governance frameworks.
- Support from time to time, risk management decision making with reference to each of the Business Units and establish risk framework components in relation to delegated business.
- Where appropriate, manage the relationships with audit provider outsourcers.
Skills, Knowledge & Experience
- Ability to effectively liaise and communicate with key strategic partners across the business, including underwriting, operations and finance.
- Knowledge and experience of both Lloyd’s and the company markets.
- Very strong communication, negotiation and presentations skills with the ability to manage difficult conversations.
- Detailed knowledge and experience of technical underwriting, governance and compliance.
- Ability to manage logistics including stakeholder management to ensure standards are maintained.
- Solid analytical and problem-solving skills, able to identify, analyse and resolve issues.
- Knowledge of Microsoft Office Suite as well as other business-related software.
- Strong report authoring skills as the role will involve drafting a number of reports to stakeholders.
- Ability to work in conjunction with a number of key departments including Underwriting, CSC, Legal & Compliance, Claims and Finance.
- Effective time management to ensure the service levels required set by the Head of Underwriting Operations are adhered.
- Prior experience within Delegated Underwriting team.
- Ability to use PAS, Lloyd’s systems, including Crystal, Atlas, DCOM, DAM, and onboarding management tool is required.
The Company
CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets. We offer a highly specialised and comprehensive portfolio of innovative and market leading products. Coverage is available to businesses of all sizes for domestic, international and global exposures.
