Operations Specialist Job Code:
1079008 Skill Band:
Permanent Date Posted:
28 Feb 2020 About Us
The Future at Lloyd's - Sharing Risk to Create A Braver World
Lloyd's is the world's leading insurance and reinsurance marketplace. Through the collective intelligence and risk-sharing expertise of the market's underwriters and brokers, Lloyd's helps to create a braver world.
The Lloyd's market provides the leadership and insight to anticipate and understand risk, and the knowledge to develop relevant, new and innovative forms of insurance for customers globally.
Lloyd's Brussels is a newly established company that plays an important part of Lloyd's European Market Access strategy for both the insurance and reinsurance business in the EU/EEA from 2019.
It allows Lloyd's to remain actively engaged with the market and ensure that LB's Operating Model is an effective solution for the market to carry on business without interruption when the UK leaves the EU.
The Operations function plays a vital role in providing, promoting and protecting Lloyd's trading rights, sustaining Lloyd's relationships and credibility with Managing Agents, Brokers, Coverholders, the insurance regulatory and other trade bodies.The Role
The Operations Specialist acts as a Subject Matter Expert of the Lloyd's Brussels Operating Model and ensures that day-to-activities are executed timely, accurately and in line with Standard Operating Procedures. Depending on the area of focus, the Operations Specialist ensures that inbound risk, premium and claims data validation, capture, processing and control activities function effectively for both Open Market and Delegated Authority business.
The role holder will contribute to the implementation and continuous maintenance and optimisation of Lloyd's Brussels processes, systems, operating procedures, policies, controls and KPI's to support Lloyd's Brussels operations.What Will You Do?
What You'll Need
- Control and review failed messages of contracts (Open Market, Binders and Lineslips) from the Structured Data Capture vendor and identify and resolve issues in message based on the scanned placing document
- Liaise directly, as necessary, with the managing agents to query and resolve errors in risk premium and claims data provided through review of received data and contracts
- Validation and completion of failed risk bordereau submissions and ensuring that bordereau data are recorded against the correct binder
- Review and control of Xchanging messages and adjustment to contracts where necessary to ensure that messages are attached to the correct contract
- Production of documentation and obtaining agreement to the transaction from the Managing Agent, as necessary
- Investigate, follow up and resolve issues relating to aged receivables as part of the Credit Control Process
- Identify, design and execute controls and KPIs that ensure that data are processed accurately, timely and at the correct granularity.
- Maintain up to date documentations and Standard Operating Procedures
- Manage operational risk and maintain controls within the post bind processes
- Liaise with other Lloyd's Brussels teams to share insights, and identify opportunities to optimise the effectiveness of Lloyd's Brussels operations
As the successful candidate, you can expect to be rewarded with a competitive salary, an enviable range of benefits.
- Experience in contract, premium and claims booking processes is highly desirable
- Experience in Credit Control / Aged Debt processes will be an asset
- Experience in designing End-to-End process landscapes and Control Frameworks
- Good understanding of the risk, regulatory and compliance framework relating to the insurance/reinsurance industry.
- Experience of adhering to agreed governance processes and procedures
- Organisational skills with the ability to work to tight deadlines and make sound judgements
- Communication skills with an ability to translate complex technical terminology into non-technical language where appropriate
- Fluency in written and spoken English required. Any other European language is considered as an asset
We are committed to flexible working, therefore if you would like to consider this as a part-time opportunity, please email firstname.lastname@example.org
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