Location: Flexible/Remote (Travel within UK and Europe required)
Job Summary: The UK and Europe Underwriting Auditor is pivotal in ensuring that our MGA Members across the UK and Europe consistently adhere to their delegated agreements and the prevailing local regulatory requirements. This role involves a comprehensive process of planning, executing, and reporting on audits, coupled with the responsibility of identifying issues and ensuring that corrective actions are tracked and implemented.
- Audit Planning: Formulate an annual audit plan for our UK and Europe Members, ensuring all pertinent areas are covered.
- Audit Execution: Undertake audits, including pre-audit preparation, actual audit execution (be it on-site or remote), and post-audit reporting, ensuring full compliance with established audit methodologies and standards.
- Issue Identification: Recognise and document issues and discrepancies during the audit process and escalate them to senior underwriters and management.
- Corrective Action Tracking: Systematically track and monitor audit issues and corrective actions at our Members, ensuring they are resolved in a timely fashion.
- Data Management: Efficiently manage pertinent data to maintain a record of all audits, their results, and any outstanding actions.
- Stakeholder Relationships: Cultivate and sustain robust relationships with key internal and external stakeholders, emphasizing collaboration and clear communication.
- Resource Management: Ensure resources, both material and human, are available and optimized for all allocated audit tasks.
- Training and Resource Gaps: Identify any training or resource deficiencies and communicate these to management, aiding in the continuous improvement of skills and resources.
- Completion of audits in line with the annual plan.
- Maintaining comprehensive documentation throughout the audit process.
- Timely escalation of audit and control issues.
- Clarity and accuracy of audit reports, with actionable recommendations.
- Efficient tracking and reporting of actions to stakeholders.
- Positive feedback on communication and understanding of processes.
- A minimum of 3-5 years of experience in underwriting, auditing, or compliance within the insurance industry.
- Knowledge of MGA/Coverholder operations preferred.
- Familiarity with audit methodologies and standards.
- Understanding of Property and Casualty (P&C) Insurance and relevant regulatory frameworks.
- Willingness to travel within the UK and Europe.
- Strong analytical and organizational abilities.
- Relevant professional qualification or equivalent experience, such as a Bachelor's Degree or ACII.
- Competitive salary with performance-based bonuses.
- Flexibility to work remotely.
- Comprehensive health insurance.
- Retirement savings plan.
- Collaborative and supportive work environment.
PRA Conduct Standards:
- Uphold integrity in all actions.
- Demonstrate skill, care, and diligence in tasks.
- Maintain transparency and cooperation with key regulators (NBB, MFSA, FCA, PRA, etc.).
- Ensure effective control of firm's business activities.
- Comply with all regulatory system requirements and standards.
- Oversee delegated responsibilities vigilantly.
- Disclose vital information that regulators (MFSA, FCA, PRA) would expect to know.
- Prioritize the protection and interests of both current and potential policyholders.
FCA Conduct Rules:
- Treat customers fairly and prioritize their interests.
- Adhere to proper market conduct standards.
To apply, please send your resume/ email to: [email protected]