Since Aspen was founded in 2002, we have become a leading, diversified specialty insurance and reinsurance company. We respond thoughtfully and creatively to find the best outcomes for our clients and business partners through carefully-tailored solutions.
We believe the way we work is just as important as the work we do, and we are guided by our core values of respect, honesty, trust and professionalism.
Aspen is a great place to develop your career offering an exciting and challenging environment where achievement is rewarded.
The Role
We are recruiting for a Delegated Authority (DA) Junior Business Partner to join us on a 12 month Fixed-Term Contract!
The DA Junior Business Partner will work alongside an existing team of DA Business Partners in London and DA Operations team in India. They will be supporting the full Cover holder due diligence and onboarding process, whilst supporting with bordereaux resolution, audit and general administrative tasks
Our Aspen Values are expected to be reflected in the delivery and performance of every role
Key Accountabilities
- Support the end-to-end Cover holder on-boarding process, ensuring adherence to Lloyd’s minimum standards and internal governance
- Working with the Bordereau Analysts for the initial escalated BDX issues, escalating to Business Partner where required
- To maintain and update records in Atlas, DAM and other market / Lloyd’s systems
- Assist in the production of MI and reports for Business Partner Management
- Liaise with Underwriters, Cover holders and Brokers when issues arise, escalating to DA Business Partners in the first instance
- Assist in Aged debt projects where required
- Support the Audit Business Partner with the audit process, including use of the BDX and Lloyd’s DAM systems
- Ensuring effective communication is maintained with all parties involved
- To gain an understanding of the delegated authority contracts to ensure that appropriate terms are in place, working with Underwriters, Claims team, Brokers and Cover holders
- Records and monitors relevant information to ensure accuracy, good practice and adherence to prescribed standards
- Ensures own awareness of organisation goals and regulatory/legislative requirements is current and relevant; and is proactive in reviewing, analysing and providing feedback to help maintain compliance and effectiveness of processes while minimising risk
- To remain up to date with the binder approval process to ensure compliance with Aspen, Lloyd’s and FCA requirements relating to claims service and Conduct Risk
- Ensures entries are properly and promptly recorded on relevant systems to ensure accuracy of data
- To assist the Conduct area in operating product oversight procedure for delegated authority business
- To support in analysis of monthly team reporting
- Support where required in the conduct risk process
- Support in the query management and liaison with offshore team members in the completion of delegated authority administration
- Collaboration with team members and working with the business and its third parties in a positive way
- Develops knowledge of standard procedures and processes and will influence the development of these to improve efficiency
Knowledge, Skills and experience
- Delegated Authority experience
- Familiarity with Lloyd’s market operations processes, including changes to bordereau data and processing requirements
- Keen eye for detail, able to navigate detailed reports and summarise the key information for management
- Strong communication skills, with internal and external stakeholders
- Understanding of Lloyd’s and London Insurance Market
At Aspen we know that having a diverse and inclusive workforce is good for our people, good for our business and good for the environments in which we operate. We therefore welcome applications from people which allows us to draw on diverse cultures, perspectives, skills and experiences.
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