Delegated Audit Analyst

at  Beazley Management Limited

General:
Job Title: Delegated Audit Analyst
Division: Beazley Shared Services – Underwriting and Claims Operations
Key Relationships: Delegated Operations team, underwriting teams, claims teams; the Claims Business Management team; brokers, Coverholders, DCAs; compliance team; Conduct Risk team; Assurance team; Information Security, Licencing Team, external audit firms, delegated underwriting/audit teams from other managing agents, Lloyd’s coordination and delegated authorities team; the LMA
Job Summary: To coordinate audits of Beazley’s programme of Coverholder, DCA (Delegated Claims Administrator), admitted programs, underwriters and claims manager visits and provide assistance in relation to other aspects of delegated underwriting compliance

Key Responsibilities:

• Supporting the Delegated Operations Audit Lead in the delivery of Beazley’s Coverholder audit plan. This will include:
• liaising with external audit firms, Coverholders, Brokers, Underwriters, delegated Direct Deal manager, claims managers, the Claims Business Management team, other managing agents and Lloyd’s audit function to coordinate and commission external audits as required
• ensuring relevant, tailored audit scopes are produced and communicated to firms in advance of audits
• analysis of Third Party Audit reports and subsequent production and distribution of detailed actions required
• reviewing reports for adherence to audit scope, quality and value for money
• tracking and reporting of the completion status of recommendations – including regular follow up with Underwriting teams, producing regular reporting for various Committees
• recording timings of audits and following up receipt of reports with firms
• holding meetings with various Beazley teams to discuss potential issues arising from audits and record actions, challenging evidence where applicable, agreeing timescales and follow up to ensure that all matters are addressed. These will be logged and communicated to brokers, Coverholders as well as internal stakeholders
• tracking audit costs and liaising with external audit firms to ensure value for money
• providing support, where required, to the wider Delegated Operations function
• Keeping up to date with regulatory and market practises to include attendance at market meetings
• tracking of Underwriter audit visits to ensure adherence to plan
• Conducting ad-hoc project work in line with the Delegated Audits team strategy and supporting internal stakeholders and other members of the team where required
• Assist in the management of ad hoc queries directed to the team
• Assist in other activities of the team as required to comply with relevant Beazley procedures and policies

EDUCATION AND QUALIFICATIONS

• Educated to A level or equivalent
• Degree in any discipline – preferred but not essential

SKILLS AND ABILITIES

• Strong organisation skills with the ability to manage own time, meet deadlines and prioritise.
• Analytical, able to review reports, extract relevant issues and assess their importance
• Assertive, able to provide challenge to internal and external stakeholders to ensure issues identified are adequately addressed and brought to an acceptable conclusion
• Able to communicate effectively both verbally and in writing with both internal and external stakeholders and to successfully manage these relationships
• Team worker as well as able to work on own initiative
• Ability to negotiate and influence at all levels
• Strong communication skills, both verbal and written.
• Meticulous, precise, thorough, good at record keeping
• Strong computer skills – good working knowledge of MS Office, intermediate excel, word and powerpoint skills
• Understanding of both strategic and operational details.

KNOWLEDGE AND EXPERIENCE

• Previous experience of working in a Lloyd’s/general insurance environment – preferred but not essential
• Knowledge or experience of binding authority business advantageous
• Audit knowledge or experience beneficial
• Previous administrative experience

COMPETENCIES

• Information seeking
• Team working
• Initiative
• Achievement orientation
• Concern for quality
• Effective communicator

• Supporting the Delegated Operations Audit Lead in the delivery of Beazley’s Coverholder audit plan. This will include:
• liaising with external audit firms, Coverholders, Brokers, Underwriters, delegated Direct Deal manager, claims managers, the Claims Business Management team, other managing agents and Lloyd’s audit function to coordinate and commission external audits as required
• ensuring relevant, tailored audit scopes are produced and communicated to firms in advance of audits
• analysis of Third Party Audit reports and subsequent production and distribution of detailed actions required
• reviewing reports for adherence to audit scope, quality and value for money
• tracking and reporting of the completion status of recommendations – including regular follow up with Underwriting teams, producing regular reporting for various Committees
• recording timings of audits and following up receipt of reports with firms
• holding meetings with various Beazley teams to discuss potential issues arising from audits and record actions, challenging evidence where applicable, agreeing timescales and follow up to ensure that all matters are addressed. These will be logged and communicated to brokers, Coverholders as well as internal stakeholders
• tracking audit costs and liaising with external audit firms to ensure value for money
• providing support, where required, to the wider Delegated Operations function
• Keeping up to date with regulatory and market practises to include attendance at market meetings
• tracking of Underwriter audit visits to ensure adherence to plan
• Conducting ad-hoc project work in line with the Delegated Audits team strategy and supporting internal stakeholders and other members of the team where required
• Assist in the management of ad hoc queries directed to the team
• Assist in other activities of the team as required to comply with relevant Beazley procedures and policie