Job Description
The Role
As a member of the Delegated Authority Management team within Canopius UK Operations, the Delegated Authority Assurance Analyst will support the end-to-end assurance process for Canopius’ delegated authority partners including Coverholders, Delegated Claims Administrators and Product Partners. This includes supporting processes such as, onboarding and ongoing oversight of Coverholders and Delegated Claims Administrators (DCAs), as well as assisting with the inception and renewals of their delegated authority contracts and master agreements. The role contributes towards the effective oversight of all delegated authority assurance operations, ensuring delivery is in line with Canopius Delegated policies, as well as other internal guidelines. The main goal of the Delegated Authority Management function is to provide governance, frameworks, and controls for the Delegated Authority Portfolio to reduce risks and support the company’s growth plans.
Key Responsibilities
- Complete assurance reviews of Coverholders & Delegated Claims Administrators (DCAs) to ensure compliance with Lloyd’s and Canopius standards.
- Conduct pre- & post-bind reviews for lead and follow binders, consortiums and line slips in line with Canopius policies, regulatory requirements and best practice
- Track all DCA appointments & produce/deliver DCA claims endorsements.
- Support with the due diligence, preparation, and submission of new applications to Lloyd’s, for UK, EEA, and International Coverholders and DCAs.
- Assist with reviewing existing and negotiation of new DCA Master Agreements to ensure adherence to Canopius procedures and regulatory requirements.
- Collaborate with other Delegated Authority Management teams, as well as Conduct, Complaints, Compliance, Cyber, Operational Resilience, and Data Protection teams, to ensure seamless information flow and effective oversight.
- Provide guidance to underwriting units, claims & other internal units in relation to all aspects of delegated authority assurance.
- Identify and escalate delegated authority breaches.
- Assist with reporting when required.
- Utilise Lloyd’s registration and compliance systems, such as Lloyd’s Insights, Atlas, Crystal+, Lloyd’s Contract Confidence tool, and DCOM.
- Monitor data accuracy, consistency, and completeness.
- Facilitate positive flow of communication with Brokers, Underwriters, Coverholders, and DCA parties.
Skills And Experience
- Knowledge of delegated authority practices, preferably within the Lloyd’s market.
- Knowledge of insurance industry practices and current regulatory requirements for Coverholder and DCA management.
- Excellent attention to detail.
- Ability to work both as part of a team and independently.
- Strong analytical and IT skills in Microsoft Excel and other MS Office systems.
- Problem solving skills.
Competencies
- Stakeholder engagement: Cultivates and maintains positive relationships with relevant internal or external stakeholders, effectively involving and communicating with them to drive collaboration, support, and alignment towards shared goals.
- Collaboration and teamwork: Works effectively with team, project or other work groups or those outside formal line of authority to accomplish goals. Actively participates as a member of a team; develops and builds cohesive team relations to produce required outputs; possesses knowledge and understanding of colleagues’ work.
- Adapting to change: Adjusts thoughts, feelings, and behaviours to handle new, challenging, or complex situations; embracing change as a growth opportunity when working within new work structures, processes, regulations, or requirements.
- Continuous Improvement: Analyses current and future state business requirements and identify strategies to continuously improve products, services or processes. Guide and inspire others to achieve results to enhance efficiency, quality and consistency.
- Innovation: Creates, develops and implements new ideas to enhance new or improved processes, systems, solutions, products or services; tries different and novel ways to deal with problems and opportunities.
- Resilience: The ability to cope with and recover from setbacks, challenges or difficulty. Persevering even under pressure or crisis situations and uses ways that foster strength and growth, often emerging stronger than before.
- Future Focused: Anticipates changes in regulations, technology and client needs, proactively responding to key trends happening in the industry. Thinks about the future through identifying opportunities and obstacles whilst planning effectively.
Our Benefits
ABOUT US
We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, non-contributory pension, discretionary bonus, insurances including health (family) and dental cover, and many other benefits to enhance financial, physical, social and psychological health.
About Canopius
Canopius is a global specialty lines (re)insurer. We are one of the leading insurers in the Lloyd’s of London insurance market with offices in the UK, US, Singapore, Australia and Bermuda.
At Canopius we foster a distinctive, positive culture which enables us to bring our whole selves to work to flourish as people, and build a business which delivers profitable, sustainable results.
Based in incredible new offices in the heart of the City of London, Canopius operates a flexible, hybrid working model and is committed to providing an environment that challenges employees to be their best and where everyone's unique contributions are recognised, valued and respected.
We are fully committed to equal employment opportunities for all applicants and providing employees with a work environment free of discrimination and harassment. All employment decisions are made regardless of age, sex, gender identity, ethnicity, disability, sexual orientation, socio-economic background, religion or beliefs, marital or caring status, or any other status protected by the laws or regulations in the locations where we operate. We encourage and welcome applicants from all diverse backgrounds.
We make reasonable adjustments throughout the recruitment process and during employment. Please let us know if you require any information in an alternate format or any other reasonable adjustments.
