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Role Title: Senior Binding Authority Management Technician
Department: Operations
Team: Business Support
Location: London
Type: 12 month Fixed-term contract
About the Role:
The Senior Binding Authority Management Technician is responsible for the day-to-day administration of a number of Operational and Non-Operational functions that provide input into LSMs management of binding authorities. This includes assisting the Binding Authority Services Manager with relationship management and oversight of Operational Services that have been outsourced to LSMs outsource service provider(s) in addition to those functions retained within LSM.
About the Department & Team:
* To provide efficient and effective support to all LSM "front office" functions and business entities.
* Continuously review systems and processes within the end-to-end underwriting process, with the aim to improve efficiencies and productivity.
* Responsible for the efficiency and compatibility of systems and processes between all LSM offices.
* Keep abreast of, and understand the impact of, market processes and initiatives that potentially could impact the syndicates operations.
* Accountable for the delivery of MI requirements to the business and the continual improvement of the format, performance and delivery of MI and BI.
* To engage in project design and delivery by taking a lead role in the definition of business requirements and related process change for both enhancements and new trading opportunities, in conjunction with the Change and IT teams.
* Accountable for the quality and timeliness of underwriting information recorded in the core systems.
* Develop the strategy for the use of the service company and Broker 258.
* Responsible for the transaction of business between overseas offices and the syndicate and between the syndicate and Xchanging.
* Provides the broking interface to support the transaction of facilities for third party coverholders, the placement of outwards reinsurance and the placement of intra-group business underwritten by the syndicate.
Key Responsibilities:
Binder Management
* Ensure that all in scope binders are notified to the service provider in a timely fashion and in line with agreed SLAs. Thereafter ensuring that the service provider has set the binders up within agreed timeframes and all escalated queries are resolved.
* Overseeing the mapping review and sign off function on a divisional basis ensuring that all binders pass mapping quality control checks.
* Working with the outsource provider, facilitating where appropriate, the timely receipt and upload of all bordereaux for in scope binders. Act as a point of reference to assist in query resolution and to resolve bordereaux provision issues when prescribed processes do not achieve required results. Where appropriate escalate issues to the Binding Authority Operations Manager.
* Overseeing the completion of a set of regular monthly compliance checks of uploaded data, escalating potential breaches of binder terms to underwriters and the DUA team.
* Overseeing the smooth transfer of data from the outsource provider to LSMs internal data warehouse.
* Assisting in the integration of any new or additional systems or processes into LSMs existing Binder Bordereaux Management process.
* Working with the DDM Tide system, assisting in the integration of binders and the mapping and bordereaux upload process.
* Ensure that all Claims bordereaux are being reconciled, mapped and uploaded by the outsource service provider. Where required oversee the validation and reconciliation reporting through the Claims Operations team on behalf of the department.
* Liaising with the Binding Authority Services Manager, escalating issues arising in performing the overview and checking of regular upload duties, performed by the outsource provider(s) as and when required.
Additional responsibilities include:
* Work with the Binding Authority Services Manager and other Senior Binder Management Technicians in developing processes that effectively monitor aged debt for all expiring BAM contracts.
* Work with the Binding Authority Services Manager and the overall Binding Authority Operations Manager on specific projects that develop and improve downstream services and processes.
* Work with the underwriting teams and/or internal credit control team to reduce debt balances at a declaration level where applicable.
* Provide support to the Binding Authority Services Manager, for any change activities that impact LSMs outsourced functions & tasks.
* Provide representation on appropriate Internal or external committees or working groups in relation to binder management and the outsourced functions.
* Ensure that all documented internal management processes meet audit requirements both internal and external.
* Assist the Binding Authority Services Manager in identifying process breakdowns, data issues, reconciliation errors and manage corrective actions following through to successful resolution.
* Provide support to the Binding Authority Services Manager in reviewing and improving the effectiveness of all outsourced binder contracts, implementing improved services and process as identified.
* Assist in the generation of reporting for Binders, alongside streamlining the reporting requirements.
* Promote the functionality of the Bordereaux Repository and PowerBI reporting and analytic capabilities.
* Development of the Bordereaux Repository functionality in line with Underwriting and Regulatory requirements with Key Stakeholders.
* Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSMs commitment to our Liberty Values, placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include the Senior Managers and Certification Regime Conduct Rules, Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.
Skills and Experience:
* Insurance experience within the Lloyds Market. Experience specifically within delegated underwriting highly desirable. Claims processing knowledge desirable.
* Excellent verbal and written communication skills and the ability to interact professionally with a diverse group, executives, managers, and subject matter experts.
* Demonstrable experience of meeting stakeholder requirements.
* Strong team player, with an appreciation of the need to ensure strong links are built and maintained with other business functions and areas.
* Good people management skills.
* Good understanding and knowledge of end to end underwriting process.
* Good knowledge of Lloyds practises and procedures desirable.
* Ability to work independently.
* Strong analytical skills required.
About Liberty Specialty Markets (LSM)
Liberty Specialty Markets is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets.
Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:
* Offering a vibrant and inclusive environment and committing to their career development.
* Promoting diversity, equity and inclusion (DEI). Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
* Reinforcing that collaborating together to share our unique perspectives help us make better decisions, deliver innovative solutions and pursue our ambitious goals.
* A supportive culture, which includes promoting a healthy work-life balance and working flexibly.
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