Delegated Authority Manager
Avencia
London
2 months ago
About us

Avencia Consulting are currently recruiting on behalf of a fast-growing, prominent London Market Insurer for a Delegated Authority Manager to join a small, growing team in a position that will initially have both a hands-on and strategically aligned remit.


The role

Reporting to the Group Head of Operations, the purpose of the role is to manage the DA area and is the primary responsibility for ensuring accurate, timely data is captured, workflow deadlines are achieved and the development of appropriate reports and with KPIs reported to other functions.


Key accountabilities

Bordereaux Management

    • Ensure the timeliness, accuracy, and completeness of data entry into the system of record for all of the Company Delegated Authority book of business including reviewing bordereaux information, following up with brokers for outstanding bordereaux (claims and premium, written and paid), and reconciliation of paid to written bordereau.
  • Diarise and chase risk and premium, escalating promptly to the relevant parties when necessary
  • Binder contract certainty; check all fields in a binding authority schedule are properly completed

Cash Allocation

  • Enter cash into the system of record; reconcile to bank accounts; and apply cash to correct policy premium entries
  • Manage all final adjustments and account closing advices checking against premium instalments - with any discrepancies to be brought to the Underwriters’ attention or directly liaising with the broker as appropriate
  • Reconcile and match Xchanging entries to policy and premium entries booked

Credit Control

  • Credit control of bordereaux (claims and premium)
  • Supporting wider credit control function as required

Processing

  • Ensure, maintain and be responsible for the entry and accuracy of data within the underwriting system of record
  • Declaration and endorsement processing
  • Work with IT to ensure new Coverholders mappings and validations are incorporated in the Delegated Authority Tool
  • Assist with the processing of risk information into the underwriting system of record
  • Assisting in the production and maintenance of appropriate procedure documentation
  • Assist with special projects as required

Coverholder Due Diligence

  • Responsibility in the Operational Review Group (ORG) meetings for guiding new applications through the due diligence process and coordinating the documentation from an operations perspective
  • Assist with pre-renewal due diligence updating documentation as required;
  • Support the production of suitable reports for the pre-bind process including summarizing contract terms and reporting requirements.

Performance Monitoring & Reporting

  • Tracking, reporting and escalating issues to underwriting (and UMCC as appropriate) including the review of exceptions to the binder terms (granted authority, approved locations, etc.);
  • EPI tracking to expected and escalation for significant changes to pattern; co-ordinate and host the quarterly review meetings
  • Manage the DPMG meeting (Delegated Performance Monitoring Group) and provide regular reports/dashboards and adhoc updates to the Group
  • Manage the audit process which includes scheduling, arranging, completion and following up of the action points which are also reported back to the DPMG
  • Work with IT to create, develop and update the reports and DA Dashboards in Power BI
  • Project work, KPIs and Process Improvement Initiatives

Skills & experience
  • Demonstrated DA Operations/Management Experience
  • A practical understanding of Underwriting systems;
  • Basic competency in MS Office applications: Word and Adobe Standard required
  • Advanced Outlook and Excel skills
  • Demonstrated ability to master new concepts quickly, and take initiative with own personal development;
  • Ability to develop relationships with key stakeholders both internal and externally across the Company
  • Ability to present and interpret reports to senior management
  • Proven prioritization and time management skills with accurate results;
  • Must be able to self-lead and work effectively both independently and with teams;
  • Demonstrated ability to deliver and manage accurate thoughtful detail-oriented work within tight deadlines and/or while working extended work days.

Job Reference: FID00014