Main Purpose of Role:
- To own the processing of Coverholder Audits from Audit scheduling through to remediation and all offshore related processes
- To work as a member of the Delegated Underwriting Authority (DUA) team ensuring that specified tasks are completed to the required standard and within the prescribed timescales
- As a member of DUA, to provide the services and functions that support underwriters in the writing and servicing of Binding Authorities , Line Slips and Consortia cover types
- Liaise with underwriters, brokers, external audit firms on Argo’s Audit panel and other managing agents to coordinate the programme of Coverholder audits including meeting external audit firms where required
- To ensure extended Audit scope is applied to scheduled audits that requests reviews of high product risk contracts
- Review of audit reports for adherence to the Argo audit scope and quality, distribution of relevant issues ensuring that recommendations are followed up and completed.
- Follow up, and escalation of open audit recommendations to ensure completion in line with agreed service levels.
- Ongoing participation in the review and development of the Delegated Authority audit policy and audit scope.
- Assist with the ongoing performance monitoring of external audit firms.
- Ensure offshore team maintains and updates the audit records in accordance with Argo procedures
- Coordination of Coverholder audits with Claims audits.
- Maintain, update and circulate where required relevant binder audit information from Lloyd’s, FCA, LMA or other local regulatory bodies and ensuring procedures are kept up to date as part of the audit process,
- To ensure lead contract risk assessments are completed in accordance with the risk criteria set
- Attend Product Oversight Group (POG) meetings if required
- Contribute to the Quarterly Underwriting Committee paper on audit management and progress to plan
- To work with offshore Technicians to ensure processes are successfully completed
- To review weekly offshore workflow and carry out required Quality Assurance process
- To be a point of contact for offshore Binder Team , Brokers and Underwriters for any queries
- To manage weekly correspondence query log from offshore team and provide relevant feedback
- To assist DUA Manager on Argo Service Company requirements including preparation of renewal slips and endorsements throughout the contract period. (if required)
- Input work into Argo systems as and when required
- Chase brokers for outstanding information as and when required
- Produce statistics and reports as and when required
- Assist on system testing and liaise with the IT and Projects Department as and when required
- Ad hoc tasks as required
Comply with Lloyd’s rules on delegated underwriting and Argo internal protocols and procedures
- Communication (oral) – ability to communicate well one-to-one and in small groups. Keeps others informed and updated
- Communication (written) – ability to write clear, precise and well organised documents
- Relationship building – establish and maintain good working relationships with internal and external parties
- Organisational Skills – ability to deliver on tasks and meet deadlines
- Prioritisation and attention to detail – must have excellent skills in both of these competencies
- Team Player – ability to work well in a team as well as on own initiative
- Strategic thinking – understands the big picture. Ability to acquire, understand and absorb information quickly
- Ideally good knowledge of Lloyd’s, FCA/PRA and other regulatory standards
- Ability to act with due professional care, demonstrating sound integrity and confidentiality.
- University Degree preferable
- Educated to at least A level standard
- LMMIT – Pass preferable
- Proven experience of working on binding authorities with knowledge of the Coverholder audit management processes
- Excellent administrative experience
- Experience of working in a Lloyd’s environment advantageous
- Experience of London market systems and processing desirable but not essential
- Knowledge of the insurance industry
- Good knowledge of Outlook, Word, Excel and PowerPoint