Market Security Manager and Monthly Audit Lead - London, United Kingdom - Lockton Companies

Description

The main purpose of this role is to support the business in leading the Market Security Function for Lockton Re within the Operations team, complete and manage the monthly auditing process and help deliver on other Risk and Operational tasks as directed.

Some key tasks & duties for the role will include:

Market Security

• Lead the Market Security function and committee for the Lockton Re Global business and run / oversee the day-to-day activities of the Market Security function.
• Assist in maintaining a sound / compliant control environment, in line with Lockton Re's risk appetite.
• Ensure and oversee that approved Lockton Re (re)insurers and intermediaries are vetted and on-boarded in line with agreed policies and procedures.
• Respond to, or oversee, market Know Your Client (KYC) requests.
• Train Market Security committee members allowing them to fulfil their duties.
• Provide accurate and timely provision of information and insight to support the Market Security committee members in their duties.
• Ensure up to date records are maintained at all times on the Market Security systems.
• Maintain and publish the Market Security approved lists.
• Oversee the monitoring of, (rating agency) rating movements on markets.
• Provide updates, advise and guide the business on rating movements and other market intelligence.
• Create client communications of changes to rating agency models.
• Use internal and external analysis systems to review (re)insurer financials.
• Assist in ensuring the integrity of the account opening process.
• Respond quickly to ad-hoc requests from the business for in person support on client interactions, or RFP requests for information and support on Market Security matters.
• Create individual or group (re)insurer reports and summaries for clients.
• Complete agency applications on behalf of the business where required.
• Complete sufficient ongoing due diligence on (re)insurers and intermediaries.
• Prepare or oversee the preparation of Market Security Meeting Pack and meeting minutes.
• Review Market TOBAs as required and ensure that the required agreements are in place.
• Act as, or oversee, the secretary to the Market Security Committee.
• Maintain the Market Security intranet page and keep all documentation up to date.
• Provide analysis and management information to senior management to facilitate their oversight of their responsibilities in this area.

Monthly Audit Function

• Select and Complete monthly Quality File audits for all Lockton Re Divisions in line with existing procedures.
• Consolidate and analyse monthly audit results and provide trend and narrative analysis.
• Identify process areas for improvement and any re-training requirements.

Other Areas (example):

• Assist in collating Risk Function activity – risk registers, Business Continuity Plans etc and associated testing.
• Play a role or lead Ad hoc Operations projects through to delivery.
• Stand in for line manager in meetings / workshops where required.

Skills and knowledge to help you succeed in this role include:

• 3-5 years of experience working in the market security and agency department of an insurance broker operating in the UK regulatory environment, or experience of working in the department of the brokerage that handled these functions, is essential.
• Experience of and ability to manage or oversee colleagues is essential.
• Ability to independently review legal documents relating to the placement chain, for example, TOBAs and co-broking agreements, is essential.
• An understanding of relevant FCA regulations, including CASS.
• Thorough understanding of the (re)insurance industry and carriers is essential.
• Experience of working with rating agencies, internal and external analytics is advantageous.
• Ability to understand and explain rating agency models is essential.
• Able to read, interpret, understand and summarise (re)insurer financial data in a way that individuals with differing levels of knowledge will understand is essential.
• Ideally experience of file auditing and process improvement.
• Adaptable, with a desire to develop and enhance the role and the approach within the team.
• An eye for detail and a focus on accuracy.
• Able to analyse complex situations and identify appropriate actions in response.
• Good presentation and communication skills, able to influence others and the ability to interact with associates and partners at all levels, from senior executives to interns.
• Able to work independently, prioritise and manage workload balancing competing objectives, prioritising to ensure that deadlines are met.
• Conscientious and self-motivated, with a good eye for detail.
• Parts of this role is a certified function and therefore background checks, DBS etc. will need to be done as well as the certification.
• Proficient in Microsoft Office suite.
• Positive attitude and proven track record of stakeholder management