Delegated Authority Analyst

Description

As a member of the Delegated Authority Management team within Canopius APAC 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.

• Maintain the Delegated Authority contract register, ensuring all new and renewal agreements are accurately recorded and updated throughout the contract lifecycle.

• Track key contract milestones, renewal dates, regulatory approvals, negotiation status and outstanding actions.

• Prepare weekly contract status reports for review by the Senior DA Assurance Analyst and DA Assurance Manager.

• Monitor upcoming renewal activity and proactively alert stakeholders where milestones are at risk of being missed.

• •Coordinate the collection of information required for BAA, DCA and delegated authority contract negotiations.

• Maintain negotiation action logs and ensure agreed actions are communicated and followed up with relevant stakeholders.

• Support contract execution activities and ensure all required approvals are obtained prior to contract commencement.

• Maintain version control and document management for delegated authority agreements.

• Coordinate monthly contract and renewal governance meetings.

• Prepare meeting packs, contract status updates and stakeholder reporting.

• Track and follow up outstanding actions arising from governance meetings.

• Support stakeholder engagement activities to maintain momentum on contract negotiations and onboarding activities.

• Own the day-to-day maintenance and reconciliation of the DA Tracker covering Coverholders, DCAs, Product Partners and associated approvals.

• Ensure tracker information is complete, accurate and aligned to Lloyd's registration systems and internal records.

• Produce periodic MI on renewal pipeline, overdue actions, contracts pending execution and upcoming approvals.

Skills & Qualifications

• Business Process Improvement

• Regulatory Compliance

• SLA Management

• Stakeholder Management

• Third Party Management

• 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.

• Good communication and stakeholder management skills

• Good organisational and time management skills, with the ability to prioritise and meet deadlines.

• Ability to learn new concepts quickly and take initiative with personal development.

• Strong contract administration and document control capability.

• Proven ability to manage trackers, action logs and governance reporting.

• Ability to coordinate multiple stakeholders and competing deadlines.

• Strong planning, organisational and follow-up skills.

• Ability to identify and escalate risks impacting contract completion timelines.

• Experience maintaining operational MI and reporting.