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About the Role

The Delegated Authority Lead is responsible for the governance, oversight, and operational management of the Delegated Authority portfolio, ensuring compliance with Lloyd's standards, regulatory requirements, and internal governance frameworks. The role oversees all types of delegated facilities throughout their lifecycle, ensuring delegated underwriting arrangements deliver appropriate underwriting performance, customer outcomes, and operational excellence. Working across underwriting, operations, compliance, risk, finance and claims, the role provides both strategic oversight and day-to-day management of Coverholders, Third Party Administrators (TPAs), Binding Authorities and other delegated arrangements. The Delegated Authority Lead acts as the principal point of contact for delegated authority governance, ensuring that delegated partners maintain high standards of underwriting, operational performance, regulatory compliance and customer outcomes while supporting the commercial objectives of the business.

Responsibilities

Oversee the creation and maintenance of the Delegated Authority Framework, ensuring compliance with Lloyd's Delegated Authority Code of Practice, Principles for Doing Business, and internal governance requirements.
Maintain appropriate controls throughout the lifecycle of delegated arrangements, ensuring underwriting authority, accountability, and oversight are proportionate to risk.
Regularly review governance processes and recommend enhancements for control, efficiency, and compliance with changing regulatory and market requirements.
Manage the end-to-end oversight of Coverholders and other delegated partners, including due diligence, financial stability assessment, operational capability, governance, conduct risk, financial crime controls, business continuity, and information security.
Ensure delegated partners meet Lloyd's expectations and that material changes are identified, assessed, and escalated.
Develop strong relationships with Coverholders, brokers, and underwriting teams to encourage proactive engagement while maintaining robust independent oversight.
Develop and maintain management information for oversight of delegated business, reporting on underwriting performance, premium income, claims trends, bordereaux quality, complaints, customer outcomes, audit findings, and operational performance.
Analyse emerging trends, identify potential risks, and recommend corrective actions for performance outside agreed tolerances.
Prepare regular reports for senior management, Delegated Authority Committees, and other governance forums.
Own the governance surrounding bordereaux reporting, ensuring timely receipt, validation, and data quality standards for premium, claims, and risk bordereaux.
Investigate data quality issues, oversee exception management, and support initiatives to improve data completeness, consistency, and accuracy.
Coordinate assurance activity for Delegated Authority business, including Lloyd's Coverholder audits, internal audits, independent assurance, and external regulatory reviews.
Oversee the management of audit findings, ensuring remedial actions are defined, prioritised, and delivered within agreed timescales.
Monitor progress against remediation plans and report to senior management and governance committees.
Ensure ongoing compliance with Lloyd's standards, FCA requirements, and internal governance policies, focusing on Consumer Duty, conduct risk, operational resilience, financial crime prevention, sanctions compliance, and data protection.
Monitor regulatory developments and assess their impact on delegated arrangements, recommending policy and procedure updates.
Promote a culture of good governance and embed regulatory expectations in delegated authority operations.
Develop effective working relationships with internal teams (underwriting, operations, claims, compliance, risk, finance, technology) as a trusted adviser.
Maintain strong external relationships with Coverholders, MGAs, TPAs, brokers, Lloyd's, and other market participants.
Contribute to business transformation initiatives, system implementations, and process improvement programmes to enhance automation, reporting, and data quality.

Requirements

Significant experience within the Lloyd's Market insurance sector.
Demonstrable expertise in Delegated Authority governance and oversight.
Strong understanding of Coverholder governance.
Knowledge of multiple types of delegated authority.
Familiarity with Lloyd's Principles and the Delegated Authority Code of Practice.
Experience in producing governance reporting for senior management.
Experience interpreting operational and underwriting data.
Experience managing regulatory relationships.
Experience coordinating audit and assurance activities.
Experience of Lloyd's Atlas, bordereaux management platforms, underwriting systems, and Microsoft Excel.
Ability to balance commercial priorities with regulatory and governance requirements.

Skills

Delegated Authority governance
Coverholder governance
Lloyd's Principles
Delegated Authority Code of Practice
Governance reporting
Data interpretation
Regulatory relationship management
Audit and assurance coordination
Lloyd's Atlas
Bordereaux management platforms
Underwriting systems
Microsoft Excel
Power BI (beneficial)
Consumer Duty understanding (advantageous)
Conduct risk understanding (advantageous)
Operational resilience understanding (advantageous)
Financial crime requirements understanding (advantageous)
Communication skills
Influencing skills

Location

Lloyd's Market

Work Type

Full-time

Experience Level

Senior

Education Level

Professional insurance qualification such as ACII, or progress towards achieving one (advantageous)