ASSIGNMENT OVERVIEW:
Alchemy London Market are seeking a Delegated Underwriting Executive to enhance our clients team, who will bring profound expertise in delegated underwriting, enriching the company’s capabilities in ensuring regulatory compliance and operational excellence.
You will be responsible for managing the underwriting risk of the portfolio in collaboration with underwriters, focusing on Line Slip due diligence and new business development specific to Coverholders.
ASSIGNMENT OBJECTIVES:
- Developing streamlined approval and review processes for new, cancelled, and renewing binders.
- Ensuring that customer interests remain paramount and that all conduct aspects of Binding Authorities are communicated to the Product Oversight Group.
- Serving as a point of contact for the Syndicate, Lloyd’s, and the wider business community regarding delegated underwriting matters across all classes.
- Providing guidance and advice to syndicate underwriting teams and the wider business community on the management and setup of delegated underwriting arrangements.
- Managing and coordinating the onboarding process for new coverholders, collaborating with other business functions as necessary.
- Ensuring that all coverholders are approved in accordance with WRBSML and Lloyd’s Minimum Standards through efficient due diligence.
- Monitoring the performance of the Delegated Underwriting team against established KPIs.
- Coordinating monthly committee papers and reports.
- Assisting with the audit process, including appointment, scoping, scheduling, and remediation.
- Liaising with Lloyd’s and regulators to stay informed of regulatory updates and other Delegated Underwriting related activities.
- Ensuring that all data and administrative tasks are up to date through internal and external delegated underwriting systems.
- Providing support to other team members during busy underwriting periods and key project deliverables as needed.
KNOWLEDGE, SKILLS, & EXPERIENCE:
- Exceptional communication skills, capable of articulating complex concepts with clarity and precision.
- Demonstrated ability to establish trust and foster effective networks both internally and externally.
- Ability to influence stakeholders both internally and externally.
- Practical knowledge and experience of working with Delegated Underwriting Authorities (DUAs) from either underwriting or compliance perspectives.
- Familiarity with Lloyd’s Principles for Doing Business and the DUA Code of Practice.
- Understanding of Atlas & DCOM.
- Awareness of Conduct risk and its implications for DUA arrangements.
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