Job description
Title:
DUA Analyst
Company:
Everest International Insurance
Job Category:
Compliance Oversight
Job Description:
This is a great opportunity to join a growing Specialty Insurer with Company and Lloyd’s capacity. We have big plans and we want you to be part of this. If you want a job that will give you a variety of experience in the insurance sector, this is the one for you. We are looking for someone who can put their hand to a variety of tasks dealing with underwriters, MGA/Coverholders/ Risk & Compliance and general management.
Job Summary
The DUA team of Everest Insurance, a member of the Everest Re Group, Ltd. is looking for a Delegated Underwriting Authority Analyst to join our Dublin/London/European office.
To work as a member of the Delegated Underwriting Authority team to deliver :-
- Coverholder / MGA documentation operational review and analysis.
- Consistent and accurate Third-party counterparty analysis and measurement against current codes of practice.
- Challenge received due diligence were necessary from Coverholder / MGAs.
- Administration and day to day management of Audit issues.
- Day to day Administration and delivery of key regulatory priorities such as such as governance reports.
- Day to day operational control on key areas of the Everest Global Markets (EGM) D A portfolio to key stakeholders in accordance with internal Group and external regulatory minimum standards.
- Day to day administration and management of the Coverholder / MGA Approval Workflow Platform for EGM, and to chase stakeholders for any outstanding actions, due diligence escalating upwards as and when required.
- To provide centralized operational day to day support and coordination to any internal or external audit that EGM receives in respect of its’ D A portfolio.
- Coordinated performance meetings between MGA, EGM underwriters and DUA team.
- Deal with second line of risk management defence queries and action as required.
KEY ACCOUNTABILITIES:
- Assisting the DUA Manager to follow the agreed monitoring processes to ensure that audit actions and recommendations are dealt with in a timely manner. Where this is not occurring, liaise with the broker/Coverholder / MGA in conjunction with the underwriting staff in order to remedy the situation and provide evidence of completed actions.
- Work in conjunction with the DUA MI Analyst to produce and update Delegated Underwriting Authority operational based management information and/or dashboard reporting, as relevant, for the Underwriting Committees and business users as required.
- Work in conjunction with the relevant team members to routinely check and provide analysis that correct procedures are being followed, ensuring required Coverholder / MGA and/or Lineslip-holder risk and premium bordereaux is received in a timely manner and in an acceptable format in accordance with the requirements of each contract. Where this is not occurring, to co-work with the broker/Coverholder/MGA in conjunction with the underwriting staff in order to remedy the situation.
- Assisting the DUA Manager to perform due diligence checks on Binding Authority documentation for Coverholder / MGAs. This can be directly with the Coverholder / MGA and or through external systems. To be the focal point working with stakeholder, internally within EGM and/or externally to source and review incoming documentation to ensure that all requisite documentation is recorded and stored within internal EGM filing systems.
- To be able to review due diligence and challenge were required the due diligence received from the MGA/Coverholder.
- Perform regular reconciliation and reviews of Coverholder / MGA premium transactions and fees to ensure accuracy of underwriting data for use in financial reporting.
- Assist within EGM to the co-ordination and planning for any internal/external audits of EGM’s DUA portfolio.
- To be the central point for all workflow management and administration, ensuring that all required agreement party tasks are chased down and completed within prescribed timescales. To produce for business stakeholders any requisite reporting that shows any area of incomplete administration and escalate issues accordingly to the D A Manager.
- To act as internal business SME for any I T related project issues/maintenance as required and be the central point of contact for all EGM stakeholders for any queries that may emanate.
- To assist external stakeholders and any distribution channel relating to Audits of Third Party Coverholder / MGAs as may be required and to work with external stakeholders in the scoping, planning and completion of audits throughout the calendar year. Additionally working with the DUA MI Analyst to provide executive reporting and identification of key issues arising from audits.
- To routinely perform checks on a periodical basis to be determined of all internal and external minimum standards applied to the orderly running of all in-force and expired Delegated Authority Contracts and ensure that all pertinent documentation is securely maintained within the internal DUA and Everest filing systems. To review exceptions on a monthly basis with the DU A Manager, to administer location of outstanding or missing documentation and report genuine exception reporting with the DUA MI Analyst to the relevant committees.
- Any other ad hoc duties or tasks as defined and agreed with the Delegated Underwriting Authority Manager.
- All functions to be performed in accordance with current EGM policies and specific procedure manuals, as amended from time to time.
- Assist the EGM Credit Control Manager in the day to day administration of Credit Control analysis and tasks relating to Coverholder / MGAs, Consortia and Lineslips.
Business Experience
Essential:
- Relevant experience of working for an Insurance Company/Lloyd’s Syndicate, preferably in a delegated authority or underwriting/operational role.
- Relevant experience of handling and/or analyzing bordereaux and / or risk level data.
- Relevant experience of administration and running of Delegated Authority Audits.
- Relevant SME experience of handling key insurance projects working with internal key stakeholders.
Desirable:
- Knowledge of insurance underwriting claims and facultative reinsurance processes.
- Lingual in any Continental European language(s).
- Relevant experience of technical reviews of Agreements and relevant Coverholder / MGA insurance documentation.
Interpersonal Skills & Abilities
- Good organizational skills.
- Good communication skills.
- Must be numerate and literate.
- Logical, analytical and resourceful.
- Good attention to detail.
- Ability to follow through on tasks/projects.
- Must be able to work alone but also contribute as part of a team.
IT Skills:
- Must be highly computer literate:-
- Intermediate Excel and Word
- Use of Document Management & Workflow systems (Training will be given).
- Use of Management Information tools
- Project Management skills as a business user
Educational standard:
- Minimum School/college examinations or relevant experience in operational delegated underwriting authority or syndicate underwriting support role.
- Progress towards attaining professional qualifications desired, if not already achieved.
Type:
Regular
Time Type:
Full time
Primary Location:
Dublin
Additional Locations:
London
As an effective team member, employees at Everest Insurance must champion the Everest Insurance Culture:
- Collaboration: Open and transparent communication with customers and colleagues
- Thoughtful Assumption of Risk: Supporting the Everest goal of carefully writing profitable business by ensuring data quality, prompt and accurate feedback to Underwriters, and operational control throughout the enterprise.
- Execution: Delivering outstanding support to the organization through strong day-to-day business operations, effective project management, and careful oversight of vendors.
- Humility: Caring and respectful approach to service colleagues, customers, and the community.
- Leadership: By example, every day.
Everest is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex (including pregnancy), sexual orientation, gender identity or expression, national origin or ancestry, citizenship, genetics, physical or mental disability, age, marital status, civil union status, family or parental status, veteran status, or any other characteristic protected by law.
As part of this commitment, Everest will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact Everest Talent Acquisition at 1-908-604-3000.
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