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Binding Authority Management Account Executive
 
Title: Binding Authority Management Account Executive
Category: Accounting & Finance
Job type: Permanent
Job status: Full Time
Salary: £10,001.00 - £30,000.00
Salary per: annum
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Description:
To support the BAM Director in providing a first class service to Insurer and Market Services Clients, by providing effective first line management to a team of binding authority technicians whilst achieving continual improvement in team performance.

To manage the people and processes to achieve consistently accurate, timely and compliant maintenance of clients data, and ensuring data integrity by quality checking the teams work. To support Senior Management with any other ad hoc tasks or responsibilities as necessary.

The candidate must act as a focal point for the binding authority management team to ensure all technical queries are address in a timely manner.

The candidate must ensure the Company goals and objectives are understood and work with management to implement any changes including new services or products ensuring SLA’s are delivered.

The candidate must develop a strong relationship with all clients and the brokers in which our clients do business including attending oversight meetings. They should also be able to identify new opportunities and to identify and enable a process of continual service improvement.

1. Service Development/Compliance/Communication

Monitors SLA performance for all BAM aspects and address any issues in a timely manner with BAM Management, Team Leaders, Senior Technicians and Clients as required.

Represents the Company at client meetings, including but not limited to executive summary review meetings, peer review meetings, renewal meetings (reviewed 4 months before expiry), and coverholder committee meetings.

Works effectively with team members to ensure all client requirements are delivered.

Liaises with Perspective, IT, and Management teams to develop specifications to meet internal, client and market development requirements.

Signs off all internal process and procedure manuals and ensure any changes are reflected within the manuals.

Acts as point of contact for technicians queries, responding in a timely manner.

Establishes and maintains a quality control system regarding all internal aspects of the BAM process.

Supports the development and reporting of all Conduct Risk and Pillar III and ensure shortfalls in data standards are addressed with clients, brokers and coverholders as required.

Works proactively with clients and/or auditors to ensure coverholder performance issues are addressed.

Assists Directors with all issues surrounding the Lloyd’s initiative to centralise delegated authority process.

Undertakes random audits on all aspects of BAM processes to monitor quality and help to identify where improvements can be made.

Effectively supports Finance, Client Reporting and Data Management departments as required.

Establishes and maintains a system reviewing all ongoing compliance breaches and ‘Not Supplied’ data as part of the reporting cycle.

Establishes and maintains a system for reviewing all Solvency II and Conduct risk compliance exceptions and works with the technicians, clients, brokers and when requested coverholders to address issues. Assists with the maintenance of appropriate process and training manuals for all activities undertaken

Liaises effectively with brokers via structured meetings and ad hoc queries to resolve outstanding issues and progress the timely provision of all bordereaux types

Ensures that all client queries/requests are appropriately logged in accordance with company procedures and maintains appropriate records relative to all processes undertaken

Works effectively with all members of staff to ensure that all monthly Executive and ad-hoc reports are produced within SLA deadlines, and all action points and matters arising are addressed

Ensures team are maintaining feedback status within i2Blade

Participates in the development and testing of the binding authority management systems to improve performance and provide an enhanced cost effective solution to clients

Assist BAM Manager to maintain the system development log and ensures releases are implemented in a timely and efficient manner

Conduct internal reviews of all binders approaching renewal/expiry (4 months prior to expiry) ensuring that all bordereaux are mapped correctly and uploaded, all provision issues are covered and all associated compliance issues are addressed.

Supports renewal and pre-audit process as required by clients

Maintains a system of early client notification of all compliance breaches of high priority clauses (Limits, Territories & Commissions) and facilitates the resolution of all issues

2. BAM Technician supervision/ Operational Management

Uses a competence based approach, in conjunction with HR, to ensure suitable candidates are recruited in the most time and cost efficient way.

Ensures that the roles, responsibilities and reporting lines within the Bam team are clearly communicated, and understood.

Supports and encourages training, development and learning of Technician Team

Ensures staff are appropriately supervised, trained and coached to meet competence standards against Job Profiles

Uses annual appraisals to assess performance and competence, review training and development needs and confirm that Job Profiles remain accurate

Maintains organisation and resources that are adequate to support business performance, demonstrating operational control of BAM technician workflow.

Ensures bordereau upload rates are maintained, various bordereau logs are maintained and developed in line with client requirements (RLD, Claims, etc.), and all bordereau upload targets are prioritised throughout the team.

Supports team with broker liaison to resolve any outstanding issues and progress collection activity for premium and the provision of bordereau

Ensures that roles, responsibilities and reporting lines are clearly communicated and understood

Optimises workflow by allocating work and making best use of resources

Proactively looks for and recommends process improvements which contribute to margin efficiencies, quality and competitiveness

Provides senior level Management Information (MI) with analysis on corporate performance

Ensures the prompt resolution of queries from clients or technicians with regard to binder/bordereaux upload queries.

Coordinates the sign off process on all new mapping templates

Follows up any outstanding queries and requests to technical divisions/IT development services

Generic Knowledge and Skills

High IT literacy (particularly Excel)

Ability to work to tight deadlines within a team environment, with good

Problem solving and decision making

Well developed verbal and written communication

organisational, communication and presentation skills

Ability to build effective relationships (internally/externally), establishing credibility amongst an extensive client group and brokers

Good understanding of delegated authorities and bordereaux processes including RLD, Written, Premium and Claims bordereaux

Experience of working in Lloyd’s and/or Company Insurance markets Delegated Authority business

A good understanding of market systems such as Lineage, IMR, ECF & LAE

A good understanding of Solvency II and Conduct risk reporting requirements

Management, delegation and supervision

Provision of management information

Good numerical skills, with the ability to work accurately, showing attention to detail

Strong reporting capabilities

In-depth understanding of Insurer and Market Services’ bespoke binding authority management system, “BACCUS”, and reporting dashboard, “Cognos”.

Good understanding of the claims and premium bordereau process

Company structure and reporting lines

Operating Procedure Manuals

Ability to interpret and manipulate data clearly and accurately with the ability to extract and identify key issues

Team player

Experience of market Binding Authority Management systems including TIDE & Broker repositories.

Keep up to date knowledge of the working practises of the London market via CPD
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