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Large Insurance client is in need of a Senior Delegated Authority Auditor to lead high-impact audits of third-party underwriting agencies (MGAs), coverholders, and binding authorities within the company’s insurance portfolio.
This role ensures robust governance, regulatory compliance, and risk management across delegated underwriting arrangements, driving improvements in underwriting quality and operational efficiency.
Key Responsibilities
Strategic Audit Leadership
* Plan and execute risk-based audits of delegated underwriting partners, focusing on property insurance (residential, commercial, catastrophe-exposed risks).
* Evaluate compliance with Lloyd’s standards, FCA/PRA regulations, and internal underwriting guidelines.
* Lead complex audits, including multi-jurisdictional coverholders and high-value binding authorities.
Governance & Stakeholder Management
* Present findings to C-suite, and the regulator, influencing strategic decisions.
* Mentor junior auditors and develop best practices for delegated authority oversight.
* Collaborate with Underwriting, Legal, and Finance to strengthen controls and contractual agreements.
Continuous Improvement
* Track remediation actions and validate corrective measures.
* Contribute to policies, training programs, and regulatory reporting.
Qualifications & Experience
Essential:
* 5-7 years in insurance auditing, compliance, or underwriting oversight, with expertise in property/catastrophe insurance.
* Proven experience auditing MGAs, coverholders, and TPAs in commercial or personal property lines.
* Strong grasp of FCA/PRA regulations, Solvency II, and contract law.
* Professional certification (e.g., ACII, CIA, CAMS, or equivalent)