Senior Coverholder Audit Analyst - 12 Month Fixed Term Contract

London, England

Delegated Underwriting / Coverholder Audit team sitting within the the DA Oversight pillar of the Dalegated Authority Service Centre

As a Senior Audit Analyst you will support the Audit Manager based in London on the end to end Coverholder Audit process.

You would be responsible for reading and reviewing audit reports and presenting findings to the Audit Review Committee with suggested resolutions. You will be liaising with multiple stakeholders, such as Underwriters, Brokers and Coverholders to ensure they understand audit recommendations identified. You will be responsible for evaluating and managing responses through to closure with suitable evidence.

Ideally you will have working knowledge and experience of the Lloyd’s Coverholder Audit process, Lloyd’s standards and the Lloyd’s Audit System.

The Audit team is a small of team of 4 FTE; 1 in London and 3 in Poland. The team manages a high volume of BAU, so you will be assisting in ensuring AXA XL is in line with the latest Lloyd’s regulation

What you’ll be doing

What will your essential responsibilities include?

Support the initiatives being delivered by the Audit Manager based in London and the Audit Team in Poland.
Work closely with the Audit Manager in evaluating and improving a robust Audit process, which allows AXA XL to comply with Lloyd’s audit standards.
Confident to liaise with all internal and external stakeholders for both the evaluation of audit findings and for reaching a conclusion.
Actively participating in committees / meetings as required eg presenting key points to the Audit Review Committee.
Organise the collection of data for audit scopes.
Creating a letter of recommendation and liaising with Underwriters for sign-off. This would be followed by issuing letters the Brokers / Coverholders.
Managing recommendation responses received by Lloyd’s DAM system or email.
Updating Audit records in AXA XL internal system CATS and the Lloyd’s Audit System with final agreed recommendations.
Communicate with Underwriters, Brokers and Coverholders on the outstanding audit recommendations, raising awareness of the audit expectations and timelines to close actions.
Monitor and track the SLAs for Audit reviews to ensure timely Coverholder audits.

You will report to the Audit Manager based in London.

What you’ll bring

We’re looking for someone who has these abilities and skills:

Required Skills and Abilities:

Knowledge of Coverholder Audit in the Insurance Industry.
A knowledge of the standard Binding Authority Agreements, how they operate and how the audit process manages them
A working knowledge of Lloyd’s scope and audit requirements and a good knowledge of Lloyd’s standards.
A working knowledge of the Lloyd’s Delegated Audit Management system (DAM)
Excellent presentation skills, and great team working experience.
An understanding of risk and how it might be mitigated.
Excellent communication skills; verbal and written.
Excellent listening skills.
Effective organisational skills, self motivated and able to work on own initiative.
Excellent / intermediate in excel handling.
Ability to analyse trends within data.

Desired Skills and Abilities:

A desire to keep pace with changes to market practice and responding to regulatory consultations.
Highly analytical and enjoy working with large quantities of data.
Knowledge of insurance operations, including claims/underwriting etc is advantageous.

What we offer

Inclusion

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic. At AXA XL, we know that an inclusive culture and enables business growth and is critical to our success. That’s why we have made a strategic commitment to attract, develop, advance and retain the most inclusive workforce possible, and create a culture where everyone can bring their full selves to work and reach their highest potential. It’s about helping one another — and our business — to move forward and succeed.

Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe.
Robust support for Flexible Working Arrangements
Enhanced family-friendly leave benefits
Named to the Diversity Best Practices Index
Signatory to the UK Women in Finance Charter

Learn more at axaxl.com/about-us/inclusion-and-diversity. AXA XL is an Equal Opportunity Employer.

Total Rewards

AXA XL’s Reward program is designed to take care of what matters most to you, covering the full picture of your health, wellbeing, lifestyle and financial security. It provides competitive compensation and personalized, inclusive benefits that evolve as you do.

We’re committed to rewarding your contribution for the long term, so you can be your best self today and look forward to the future with confidence.

Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called “Roots of resilience”, focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.

Our Pillars:

Valuing nature: How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society – are essential to our future. We’re committed to protecting and restoring nature – from mangrove forests to the bees in our backyard – by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
Addressing climate change: The effects of a changing climate are far-reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
Integrating ESG: All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We’re training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
AXA Hearts in Action: We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL’s “Hearts in Action” programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day – the Global Day of Giving.

For more information, please see axaxl.com/sustainability.

Who we are

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don’t just provide re/insurance, we reinvent it.

How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business − property, casualty, professional, financial lines and specialty.

With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.

Learn more at axaxl.com

Coverholder Audit jobs

Senior Coverholder Audit Analyst - 12 Month Fixed Term Contract