Syndicate Business Performance Manager Job Code:
1117988 Skill Band:
Performance Mgmt Location:
United Kingdom - London Type:
Permanent Date Posted:
4 Mar 2019 Syndicate Business Performance Manager One Lime Street, London About Us
All roles within Lloyd's have an integral part to play in the achievement of the Strategy and Vision 2025 and will contribute overtly to:
Lloyd's becoming a brand that is globally admired and recognised and respected for its reputation as the world's specialist centre for (re)insurance. Lloyd's will be known around the world for its integrity and will be a place where talented, diverse and socially responsible employees feel proud to work. This leadership role will practice and promote the principles of inclusive leadership and respect the value of diversity.
The Syndicate Business Performance (SBP) team works to approve business plans, monitor overall performance of syndicates against business plan, and review underwriting standards. The Role
To work effectively with approximately five or six Managing Agents as the syndicate level underwriting performance contact, working to identify and mitigate underwriting performance issues and assist with the approval and monitoring of realistic and achievable Syndicate Business Forecasts / plans (SBFs). Additionally, to verify compliance with Lloyd's minimum underwriting standards. Working to meet the strategic needs of the Corporation, and their purpose to:
What Will You Do?
- Protect the Central Fund by ensuring that syndicate underwriting delivers sustainable performance and profitability
- Ensure that syndicate's performance is closely monitored and appropriate action when performance issues are identified
- Ensure that underwriting plans are realistic and achievable; appropriate portfolio oversight and control is carried out; minimum underwriting standards are maintained
To act as the lead day-to-day underwriting contact with allocated managing agents:
- Reviewing and monitoring the ongoing execution and delivery of SBF's by Managing Agents, assessing material changes, identifying issues, recommending appropriate action plans, escalating and seeking Senior Management or CPG approval where needed
- Actively work closely with syndicates to ensure that appropriate portfolio management actions are being taken, recommending remedial actions where problems are identified
- Providing independent challenge and regulatory oversight addressing underwriting issues at the syndicate level
- Evaluating SBFs presented by Managing Agents; ensuring that they are realistic and achievable; preparation of these SBF's for presentation to the Capital and Planning Group as needed
- Reviewing syndicate ORSAs and providing feedback to the Syndicate Capability Oversight team on the business considerations, risk appetite and forward-looking assessments
- Reviewing periodically (quarterly) syndicates' actual underwriting performance against the approved SBF (for all open years), taking into account business priorities, strategy and approach and addressing issues as they arise
- Reviewing periodic (monthly) syndicate's PMDr reports to assess the development of current year of account written premium, risk-adjusted rate change and price adequacy compared to the approved SBF; addressing issues as they arise
- Reporting on a periodic basis, and as required, to senior management and through our systems, including the PRD and Dynamics on all syndicate performance issues, identifying key considerations, responding to exception report triggers and suggesting prioritized actions
- Preparing feedback to be provided to the PRA by senior management to support specific syndicate discussions, quarterly monitoring on an ad hoc requests
- Work closely with the Oversight Managers in Syndicate Capability Oversight to ensure a streamlined and efficient process of interaction with relevant Managing Agents
A professional and business expert role with no management responsibilities, the role holder is expected to:
- Contribute to an open and transparent culture of risk management and demonstrate a strong awareness of the risks that should be managed within the responsibilities of the role; and
- Deliver responsibilities in line with all relevant risk appetites, policies, reporting and when applicable, membership on or input to Lloyd's risk committees
- As part of business plan approval and monitoring for individual syndicates, responsible for contribution to risk appetite metrics as needed
- Completion of periodic returns and reports
Working in the Syndicate Business Performance team responsible for approximately ten syndicates, assessing performance standards and raising underwriting standards in the interest of ensuring profitable growth. What You'll Need
The role holder must have:
- Strong portfolio management skills
- Established analytical and quantitative capabilities
- Well-developed communication skills including listening, negotiating, presenting and report writing (verbal and written)
- A well-developed, commercial business sense, energy and flexibility
- The ability to build effective business relationships at all levels both internally and externally
- Proficiency in the Microsoft Office suite in particular Excel and PowerPoint; a working knowledge of Business Objects, QlikView or similar reporting software would be preferable
- Extensive (re)insurance market knowledge.
- A good understanding of business economics
- Knowledge of the structure and operation of the Lloyd's underwriting market place, processes and functions
- Experience as an underwriter, (re)insurance broker, actuary or business consultant.
- Experience as a senior level portfolio manager
- Tertiary education, preferably in a business or other numerate discipline
- ACII / FCII / ACA / Actuarial Designation / MBA: preferred
As the successful candidate, you can expect to be rewarded with a competitive salary, an enviable range of benefits.
- Encourages a climate of team-working and collaboration, acting as a visible role-model of these values and behaviours
- Maintains and extends a broad and effective network of links with individuals both internally and externally and uses these to benefit the business.
- Anticipates customer needs and champions initiatives to increase customer satisfaction.
- Consistently achieves high-level results, managing project teams and ensuring projects are delivered on-time and on-budget to agreed quality standards.
- Demonstrates detailed and comprehensive knowledge of own area, and is recognised as an expert by people across the organisation.
- Shares knowledge and expertise openly and freely, positioning knowledge sharing as an organisational priority.
- Inspires enthusiasm and a positive attitude in people about their work and their contribution to the organisation's success.
- Guides conversations to desired end points; negotiates effectively by exploring a range of possibilities.
- Uses many different approaches to interact successfully with others, adapting interpersonal style to fit the situation and the characteristics of groups and individuals.
- Stays positive and upbeat in situations where definite information or direction is not available and seeks to take advantage of such settings.
- Supports and encourages change in their department; is seen by others as a change champion.
- Demonstrates strong knowledge of the customers and competition in the industry and how that impacts the business.
To apply, please visit www.lloyds.com
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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