Delegated Authority Auditor - London, United Kingdom - Great Lakes Insurance SE

Great Lakes Insurance SE
Great Lakes Insurance SE
Verified Company
London, United Kingdom

1 month ago

Tom O´Connor

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Tom O´Connor

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Description
Delegated Authority Auditor


Company
Great Lakes Insurance SE

Location
London, United Kingdom


About Great Lakes Insurance SE:


As specialty provider of primary insurance services in the UK, Great Lakes London Branch ("GLLB") is a substantial part of Great Lakes Insurance SE in Munich.

Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group.

Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia.


Great Lakes Insurance UK Limited ("GLLS"), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world.


About the role:


To assist in the provision of unbiased reasonable assurance that Outsourced Service Providers (OSPs) are complying with contractual and regulatory requirements, laws, and best practice.

The role includes organising audits of Great Lakes OSPs,.

Audits will include audit preparation, on-site fieldwork, drafting reports and tracking and analysis of audit findings with the aim of reviewing information to check adequacy of internal systems and controls and adherence to agreed procedures in order to minimise the risk and exposure to Great Lakes and its policyholders.


Work will be carried out at various locations throughout the UK and Europe depending on the location of the OSP.

Agents and Third Party Claims Administrators may manage business in the UK, written by Great Lakes UK including its Subsidiary, and around the world, written by Great Lakes SE and its associated Branches.


Key Responsibilities:

  • To support the preparation and delivery of accurate and timely audits of Great Lakes OSPs as per the Agency Audit plan and audit methodology. Ensuring they are completed in a competent, through and professional manner adhering to the audit process with adequate evidence.
  • Supporting in the production of written Audit reports following each audit in a clear, concise and timely manner for consideration by senior management and OSPs.
  • Ensure audit issues identified are followed up and satisfactorily addressed with the relevant stakeholders.
  • Facilitate the delivery of feedback to the business when internal issues are found at audits, assisting in the tracking and review of identified actions.
  • Collates relevant data to support and assist in the production of business reports.
  • Contributes in undertaking trend analysis on audit findings and discusses with relevant SMEs to consider rectification on a wider business level.
  • Participate in the 'onboarding' of potential new Agents / Coverholders (due diligence) when required.
  • To maintain audit systems and undertake data quality checks.
  • Assist with annual audit planning and reporting where required.
  • Escalate overdue audit findings and support the aim to reduce and avoid findings becoming overdue.
  • Provide support to colleagues within the Team or other business units or external resources for ad hoc requests, or longerterm projects in carrying out the Great Lakes strategy as requested.

Competencies:


Nimble learning (we think big) - you actively learn by tackling new problems and trying out new solutions, quickly learning from both successes and failures.

Collaborates (we lead the 'we') - you work together with others in your team, the department and

wider business (where relevant) to meet shared commitments.

Optimises work processes (we grow with our clients) - you know the most effective and efficient

processes to get things done and are constantly assessing how they can be improved.

Resourcefulness (we care and dare) - you find a way to get things done with the best use of the


resources available to you, knowing when to ask for support from others, but also offering your support to others where you feel your expertise, knowledge and skills can add value.

Communicates effectively (we are clear and authentic) - you communicate clearly and appropriately with your audience. You also share ideas, learn from others and keep stakeholders informed about progress, problems, opportunities and solutions, soliciting feedback along the way


Key Skills & Experience:

  • Strong report writing skills.
  • Fluent using Microsoft Packages;
  • Good spoken and written skills.
  • Understanding of MGA and TPA operations;
  • Background in oversight and control;
  • Knowledge of regulatory environment
  • Knowledge of legal contracts
  • Data analytics experience

Thought Leaders:


You will demonstrate inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.

You will treat your colleagues and sales and business partners fairly and with respect


Regulatory & Conduct Requirements:
Over the coming ye
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