Delegated Authority Onboarding & Due Diligence Manager
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Delegated Authority Onboarding & Due Diligence Manager
London, United Kingdom
AXA XL's culture of profitable growth is at the core of our business unit ethos, and the primary driver of
both strategic and day-to-day decisions. As an extensive global business, we take pride in our raise the bar behaviours and strategic drivers, to unlock the potential of our client, brokers, coverholders and employees. We aim to consistently outperform the competition and attract the best talent by being the employer of choice in the UK & Lloyd's market.
The mission of the Delegated Authority Service Centre (DASC) is to support the AXA XL UK & Lloyd's ambition to be the preferred insurer for Delegated Authority business in the London Market.
The ambition is to provide the best service internally (to underwriting and claims) and externally in the market (to coverholders, third party claims adjustors, regulators), through the entire end to end delegated authority process; from on-boarding, binder lifecycle management, to reporting and analysis, supported by high quality data and a class leading efficient governance and control environment.
The DASC management team, led by the Head of the DASC, will consist of an Onboarding and Due Diligence Manager, Operations and Data Reporting and Analytics Manager, Oversight Manager, and Services and Delivery Manager.
The Onboarding and Due Diligence Manager will play a key role in significantly influencing and elevating the delegated business operations through the DASC.
As the Delegated Authority Onboarding & Due Diligence Manager at AXA XL UK&L, you will play a crucial role in managing and overseeing the onboarding and due diligence processes for new coverholders and delegated claims authorities. This includes conducting thorough due diligence, coordinating operational setups, and managing renewal processes. You will need to work collaboratively across the delegated service centre with the relevant experts to create a unified approach and improve regulatory relations. Your efforts will help safeguard the company's interests and ensure that all delegated authority activities are conducted in a manner that makes it simpler for Clients, Coverholders, Brokers and internal clients to do delegated business with us.
Delegated Authority is a material element of the UK & Lloyd's BU business, representing circa $1bn GWP with over 250 Coverholders across multiple global territories. The role requires overseeing due diligence, operational set-up, and renewal management.
DISCOVER your opportunity
• Lead the onboarding process for new delegated authority partners, including conducting due diligence, contract negotiation, and system setup
• Complete CH/DCA screening and review detailed due diligence, including system & controls, reputation and standing, cyber security, and other procedural checks (e.g., financial crime, conflicts of interest).
• Coordinate and complete the Conduct Risk Evaluation (CRE)
• Suggest binder policy wording edits (on non-technical aspects) and complete binder policy wording sign-offs
• Complete the operational set-up for new CH/DCA, including registry on system, data entry, BDX mapping & feed development, and document production/review.
• Obtain HPR/MPR/LPR ratings from Conduct Risk and coordinate all required governance approvals, from decision in principle to formal sign-offs
• Act as the "quarterback" for all CH/DCA onboarding queries (external and internal).
• Manage all aspects related to renewal management: contracts, extension of authority, support annual reviews, etc.
• Ensure compliance with regulatory requirements and company policies for delegated authority arrangements
• Contribute to the improving regulatory relationships with a unified approach with other touchpoints
• Develop and implement standardized processes for due diligence and onboarding to ensure consistency and efficiency
• Conduct risk assessments and financial evaluations of potential delegated authority partners to mitigate potential risks
• Maintain accurate and up-to-date records of all delegated authority partners and their onboarding status
• Provide training and support to internal and external stakeholders on delegated authority onboarding and due diligence processes
You will report to the UK & Lloyd's Head of Delegated Authority Service Centre
SHARE your talent
SHARE your talent
• Bachelor's degree preferred and experience in insurance with a focus on delegated authority onboarding and due diligence.
• Experience conducting detailed due diligence and operational set-ups within an insurance context.
• Customer first approach with experience in improving customer journeys, particularly within a governance or control environment.
• Strong understanding of regulatory requirements and compliance, for example Lloyd's and the FCA
• Excellent analytical and problem-solving skills.
• Ability to manage multiple tasks and projects simultaneously.
• Strong communication and interpersonal skills
• Ability to manage onshore and offshore relationship, including a combination of landlord and managed service resource.
FIND your future
AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don't just provide re/insurance, we reinvent it.
How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business - property, casualty, professional, financial lines and specialty.
With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.
Learn more at axaxl.com
Inclusion & Diversity
AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.
At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That's why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It's about helping one another - and our business - to move forward and succeed.
- Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe
- Robust support for Flexible Working Arrangements
- Enhanced family friendly leave benefits
- Named to the Diversity Best Practices Index
- Signatory to the UK Women in Finance Charter
Learn more at axaxl.com/about-us/inclusion-and-diversity . AXA XL is an Equal Opportunity Employer.
Sustainability
At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called "Roots of resilience", focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.
Our Pillars:
- Valuing nature : How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society - are essential to our future. We're committed to protecting and restoring nature - from mangrove forests to the bees in our backyard - by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
- Addressing climate change : The effects of a changing climate are far reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
- Integrating ESG : All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We're training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
- AXA Hearts in Action : We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL's "Hearts in Action" programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day - the Global Day of Giving.
For more information, please see axaxl.com/sustainability