Business Manager

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Overview

Business Manager

Grade: 3
Reporting to: The Active Underwriter

Location: London

About us

IQUW is a speciality (re)insurer at Lloyd's (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation and human expertise to make smart decisions, fast.

The role

Reporting to the Active Underwriter and working closely with the Underwriting Leadership Team, you will play a pivotal role in driving organisational success and ensuring seamless operations. This position requires a blend of exceptional leadership, strategic thinking, and operational expertise to support the IQUW Underwriting Leadership team in achieving their goals and managing day-to-day operations effectively.

The purpose of this role is to:

• Keep policies and procedures under review, to ensure there are mechanisms in place to meet underwriting components of the Lloyd's 'Principles for Doing Business' and that records are kept, providing evidence.
• Track and co-ordinate the progress and productivity of the various strategic work streams ongoing in IQUW (syndicate 1856).

• Oversee framework for underwriting licences, underwriting attestations, special acceptances and Lloyd's market bulletins.

• Create/ enhance and manage operational control frameworks for the Active Underwriter/ Deputy Active Underwriter.
• Collaborate and work with the direct reports of the Active Underwriter/ Deputy Active Underwriter and liaise with a variety of stakeholders to create a consistent approach to operational and functional reporting.

Key responsibilities

Strategic Planning and Support

• Working closely with the Active Underwriter, Deputy Active Underwriter and Heads of Divisions to develop and execute strategic initiatives, ensuring alignment with the organisation's mission, vision, and goals.

Boards and Committees

• Co-ordinate the timely preparation of packs for various committees (Board, ExCo, UMC, etc).
• Member of and/or participate in relevant committees as required. Includes attendance at weekly HODs meetings and team meetings. In so doing, track execution of actions and outputs from attendees and sub-working groups.

Project Management

• Oversee critical projects and initiatives, from conception to completion, ensuring timely execution and delivery of results. This includes special projects as assigned by the Active Underwriter / Deputy Active Underwriter.

Efficiency, Procedures and Controls

• Collaborate with Head of Underwriting Operations, to ensure Operational Excellence across the Underwriting function. Streamline organisational processes and workflows to enhance efficiency and productivity, identifying areas for improvement and implementing solutions. Identify potential risks and opportunities and develop strategies to mitigate.
• Ensure that all underwriting procedures and controls necessary are developed and adhered to across the Underwriting teams in 1856. This is done through providing assurance checks and identifying any breaches which require escalation.
• Lloyd's Core Market Returns: Ensure all syndicate returns are submitted in accordance with the Lloyd's regulatory timetable.
• Produce timely reports and statistics in order to meet business and regulatory deadlines.

MI and Metrics

• Capture key operational metrics: Monitoring and collection of aged debt, meeting Lloyd's E-trading mandates, monitoring late data entry and underwriting authorities etc

People and Budgets

• Human Resources: Work closely with the HR team to drive fast, quality recruitment. Develop and manage HR budgets and monitor expenses.
• Financial Management: Work closely with the finance team to develop and manage budgets, monitor expenses and provide financial analysis to support decision-making.

Essential qualifications, skills and experience

• Understanding of Underwriting and delegated underwriting management and operations.
• Knowledge of exposure management.
• Lloyd's market experience and knowledge of market governance, Principles of doing business at Lloyd's and other regulatory requirements.
• Knowledge of business planning capital management/ modelling.
• Wide experience of underwriting processes, procedures and compliance. Knowledge of industry practice and processes such as Lloyd's SBF, SCR and the ORSA.
• Demonstrable skills in process improvement, project management and change management.
• Knowledge of industry practice and processes such as Lloyd's SBF, SCR and the ORSA
• Leadership: proven ability to influence and motivate colleagues to achieve common goals and objectives, self-motivated and able to take the initiative and operate independently. Ability to foster a culture of collaboration, innovation, and continuous improvement.
• Communication and Collaboration: Excellent written and verbal communication with impactful interpersonal skills. Confidence to provide constructive challenge where appropriate to clients and senior management.
• Adaptability: The ability to adapt to changing priorities, deal with multiple tasks and work under pressure to strict deadlines. Thinks innovatively and responsively.

For the full JD please see here.