Overview

Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.

Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks.

Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.

A key role in the Delegated Authority division that forms part of the wider Market Performance and Oversight. The strategic focus is on promoting greater market sophistication and capability in delegated authority, driving improvements in MGA's oversight and continuing to evolve adherence to Lloyd’s Principles for Doing Business in relation to Delegated Authority business.

Responsibilities

• Overseeing the adherence of allocated Managing Agents (MAs) to Lloyd’s Principles for Doing Business, specifically in relation to their Delegated Authority business.

  • Addressing potential risks, proactively intervening and escalating issues

  • Conduct targeted, risk-based capability assessments, ad hoc assurance activities, and thematic reviews.

  • Promote a ‘best in class’ approach to management and Delegated Authority arrangements.

  • Make considered and risk-based decisions, ensuring that the right outcomes are achieved through effective oversight and collaboration with the wider Lloyd’s team.

  • Responsible for maintaining the ‘Lloyd’s view’ on the Delegated Authority capability of allocated MAs, feeding into governance forums.

• Building meaningful, open, and transparent relationships with allocated MAs to enable effective oversight and sharing of key information.

• With a risk-based approach provide targeted oversight of a small number of highly material MGAs, broker facilities and structured programme providers.

• Leading on addressing problematic MGAs with the authority to take appropriate remedial actions, aligned with the Third-party Material Issues. This includes imposing robust and proportionate interventions based on market knowledge and sound risk-based principles, and escalating high-impact issues as necessary.

• Collaborating through the Delegated Authority Indicator Framework (DAIF) with other Lloyd's review teams and the Delegated Underwriting Performance team to ensure that MA oversight activities are properly aligned with their objectives and priorities.

• Proactively identify opportunities for operational efficiency—whether that’s work we can stop because it adds little value, work we can automate, or work we can outsource.

• Handle complex market queries related to the delegated authority model and alternative distribution processes globally, clearly articulating Lloyd’s risk appetite.

• Supporting Country Managers to enable them to triage/reject MGAs that present local risks.

• Acting as the UK Country Manager for reviewing new MGA applications that are sponsored by allocated MAs.

• Contributing to the creation of the Delegated Authority centre of excellence by lead on:

  • Responding to and resolving complex market queries.

  • Creating and contributing to thought leadership on themes, issues, and best practices.

  • Maintaining and updating guidance materials.

  • Identifying and sharing insights with the market and Lloyd’s global networks

Qualifications and requirements

The description provided lists responsibilities and expectations for overseeing delegated authority and MA oversight; candidates should have a risk-based mindset, experience with governance frameworks, and ability to interact with senior teams and market participants. Specific qualifications and experience requirements are not explicitly enumerated in this text and should be defined by the employer as appropriate.

Diversity, inclusion and working arrangements

Diversity and inclusion are a focus for us – Lloyd’s aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development. You can read more about diversity and inclusion on our website.

We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.

Application

By choosing Lloyd's, you\'ll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.

Should you require any additional support with your application, or any adjustments, please note that the following link is for reference only and does not register your application at this vacancy: Lloyd’s apply