Delegated Authorities Audit Manager – 6 Month FTC

Job Title – Delegated Authorities Audit Manager

Contract – 6 Month Contract

Salary – Circa £80k

Location – London

Purpose of the Job:

A large proportion of the company underwriting and claims handling is delegated via coverholders and third party claims administrators (TPAs). Audit is a key control that the group operates over these third parties to ensure they are appropriately managing the authority delegated to them. The Audit Manager is responsible for ensuring that coverholders and TPAs are regularly audited in line with an appropriate risk based plan and that any issues identified are managed and resolved.

Principal Accountabilities:

• Delivery of the Delegated Authorities and TPA audit program to ensure the timely and cost effective scheduling and management of operational, compliance and claims audits of delegated authorities and third party administrators across the group.
• Management of the external auditor panel, including review of due diligence and making recommendations to the Delegated Management Committee of appointments and removal of auditors from the panel; maintenance of contractual arrangements and ongoing performance assessment and feedback against agreed standards.
• Maintain audit risk scheduling matrix
• Manage audit scheduling and scoping and the preparation of auditor packs, including for TPAs.
• Review audit reports (including for TPAs) and ensure audit recommendations are appropriate, RAG rated, time bound, centrally recorded and communicated to all stakeholders in a timely manner.
• Track associated recommendations to completion in a timely manner, ensuring any issues are escalated appropriately.
• Ensure tracking systems (internal or market) are up to date and reflect the correct position of audits and associated recommendations
• Ensure auditors are paid on time, or dispute invoices where appropriate.
• Delegate tasks such as scheduling, scoping, report reviews, recommendation tracking and invoicing to DUMU team members where appropriate and in consultation with line managers.
• Ensure appropriate quality control over work delegated to team members
• Development and implementation of reporting to proactively manage systemic risks identified through audit and raise issues appropriately through the company’s internal governance structure

Regulatory Conduct Rules:

• Act with integrity.
• Act with due skill, care and diligence.
• Be open and co-operative with Lloyd’s, the FCA, the PRA, and other regulators.
• Pay due regard to the interests of customers and treat them fairly.
• Observe proper standards of market conduct.

Education, Qualifications, Knowledge, Skills and Experience:

• Educated to at least A-level or equivalent
• Excellent knowledge of insurance industry practises and current regulatory requirements impacting coverholders and delegated authority audit. Experience participating in market committees related to audit is desirable.
• Very strong communication and interpersonal skills with both internal and external stakeholders. Supplier management experience desirable.
• Ability to assertively challenge whilst maintaining positive working relationships
• Strong computer and analytical skills including Microsoft Office
• The ability to both work well as a team as well as under minimum supervision and on own initiative
• Good attention to detail coupled with the ability to see the big picture and drive strategic initiatives
• Excellent organisational, time management and delegation skills, ability to prioritise sensibly and meet deadlines
• Ability to make sensible judgements balancing pragmatic considerations with the need to follow company’s procedures and manage risk to the business.

For Extra Information on the Company Please Contact:-

London: 0203 411 8430

Email: admin@lawesgroup.co.uk