Delegated Underwriting Authority (DUA) Manager
hace 3 días
City of London
Delegated Underwriting Authority (DUA) Manager Location: London This career opportunity is available at Santam Syndicate 1918 for a Delegated Underwriting Authority (DUA) Manager, who will be based in the UK & have right to work in the UK. What will you do? This role is responsible for designing, implementing, and managing the Delegated Authority (DA) framework for Santam Syndicate 1918, a newly established Lloyd’s syndicate managed by Asta, to deliver operational excellence in delegated underwriting. The individual will build the DA operating model from inception ensuring all binders, coverholders, and consortia arrangements are established with robust governance, on-boarding, clean data flows, and strong underwriting controls while enabling commercially disciplined growth aligned to the Syndicate Business Plan. Key responsibilities: Build & Implement the DA Operating Model: • Design and implement the Delegated Authority Target Operating Model (TOM)., • Establish end-to-end binder lifecycle processes (pre-approval → contract → onboarding → monitoring → renewal/termination)., • Define RACI between Syndicate and Asta (underwriting, compliance, operations, finance)., • Develop and embed DA procedure manuals, control frameworks, and governance documentation., • Review and enhance delegated underwriting guidelines aligned to class risk appetite. Binder & Coverholder Approval: • Lead due diligence for new coverholders in coordination with Asta’s DA team., • Prepare underwriting rationale for internal governance committees., • Oversee drafting and approval of binding authorities., • Ensure contract certainty and correct capture within Asta systems., • Maintain complete binder register and status tracking., • Special focus during start-up phase:, • Avoiding uncontrolled proliferation of small facilities, • Managing accumulation risk early Bordereaux & Data Infrastructure Design: • Define bordereaux templates aligned to:, • Lloyd’s principles for doing business, • Exposure management requirements, • Reinsurance reporting needs, • Actuarial performance analysis, • Establish validation rules and data completeness standards., • Oversee timely and complete receipt and accurate processing of bordereaux, • Oversee integration between coverholder systems and Asta policy administration platforms., • Design monthly reconciliation process between:, • Delegated data, • Written premium, • EPI capture, • PMDR / regulatory returns Performance Management & Early Warning Framework: • Work with actuarial to implement structured MI pack for Delegated Authority portfolio:, • GWP vs Plan; Rate change tracking; Loss ratio (attritional vs large); Exposure accumulations;, • Establish performance triggers (e.g., LR thresholds, rate deterioration flags)., • Present DA performance to Underwriting Committee and Board., • Identify corrective actions early (rate adjustments, underwriting restriction, audit). Governance & Lloyd’s Compliance: • Ensure full compliance with Lloyd’s Delegated Authority Code of Practice., • Support Asta in annual Delegated Authority returns and attestations., • Coordinate coverholder audits and remediation tracking in conjunction with Asta., • Ensure sanctions, licensing, and regulatory checks embedded in onboarding process., • Support ORSA and Risk Register inputs relating to delegated business. Strategic Growth Support: • Assist CUO and Actuarial in evaluating DA growth opportunities., • Assess scalability of coverholders., • Support business planning for next underwriting year. Qualifications & Experience: • Direct experience with Lloyd’s binder and coverholder oversight with strong understanding of Binding Authorities, Coverholder oversight, and bordereaux management., • 5–8 years experience in the Lloyd’s market., • Experience overseeing offshore or outsourced operational teams, ideally within delegated authority or bordereaux processing environments., • Knowledge of Lloyd’s Principles for Doing Business and UK regulatory frameworks., • Excellent stakeholder management skills., • Experience with DA systems such as ATLAS, DDM, Fusion would be beneficial., • Prior experience working with a 3rd party Managing Agent (ideally Asta), • ACII / FCII (preferred)., • Compliance with Lloyd’s and regulatory standards., • Timely completion of Coverholder reviews and audits., • Service performance of outsourced bordereaux processing teams, including SLA adherence, error rates, and cycle‑time improvement., • Bordereaux accuracy and reporting quality., • Successful onboarding of new delegated arrangements. Skills & Competencies: • Strategic Insight and Commercial Acumen, • Demonstrates the ability to think strategically, anticipate market dynamics, and make commercially sound decisions., • Strong Governance and Control Orientation, • Ensures rigorous adherence to governance frameworks, regulatory requirements, and internal control standards., • Data‑Led Decision Making, • Applies analytical thinking and utilises high‑quality data to inform judgement, improve performance, and drive operational effectiveness., • Effective Influencing and Stakeholder Engagement, • Builds strong relationships, communicates with impact, and collaborates effectively across internal and external stakeholder groups.