Global Insurance firm is looking to bring on a DUA Audit Manager to play a pivotal role in overseeing and managing the audit function for delegated authorities, including coverholders and third-party administrators (TPAs). You will ensure that these entities operate within the terms of their delegated authority agreements, meet regulatory requirements, and follow best practices in underwriting and claims management.

Key Responsibilities:

• Lead and manage delegated authority audits of coverholders and TPAs, ensuring compliance with binding authority agreements, regulatory standards, and corporate governance.
• Develop and execute comprehensive audit plans, focusing on underwriting practices, claims handling, premium collection, and reporting standards.
• Provide recommendations to enhance the efficiency, governance, and compliance of third-party entities.
• Review and assess coverholder performance against key performance indicators (KPIs) and authority limits, and provide feedback on areas of improvement.
• Collaborate closely with internal stakeholders (underwriting, compliance, claims) to monitor delegated authority risk.
• Prepare detailed audit reports and present findings to senior management, underwriters, and regulatory bodies, ensuring timely follow-up on audit recommendations.
• Mentor and develop junior audit team members, contributing to continuous improvement in audit methodologies and frameworks.
• Build and maintain strong relationships with coverholders and other external partners, fostering a culture of transparency and best practices.

Requirements:

• Experience: 5 - 7 years in delegated authority audits or a related field within the insurance industry, with a deep understanding of coverholder oversight and the Lloyd’s market.
• Technical Knowledge: Strong knowledge of delegated authority agreements, insurance regulations (e.g., FCA, Lloyd’s minimum standards), and audit best practices.
• Skills:
  • Excellent analytical and problem-solving abilities.
  • Strong interpersonal and communication skills with the ability to influence and negotiate at all levels.
  • Experience with audit management software and advanced Excel skills.
• Attention to Detail: High level of accuracy and ability to critically assess detailed documentation and processes.