Binding Operations Manager

Job information Binding Operations Manager from the Company The Fidelis Partnership, this latest Binding Operations Manager job vacancy is located in the city London. This latest job opening is open to job seekers who have the latest education / graduate . Job Vacancies in this Specialist field have been opened and published up to the specified time.

Job Description :

London Permanent – Full Time
On Site

About us

The Fidelis Partnership is a leading privately-owned, Bermuda-based Managing General Underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership is one of the largest Managing General Underwriters globally and its operations also include outwards reinsurance, claims handling, exposure management and portfolio analytics. The Fidelis Partnership also sponsors and incubates specialist MGAs through its Pine Walk platform. The Fidelis Partnership is separately owned and managed from the ownership and management of Fidelis Insurance Group.

Across product lines and geographies, we focus on three diversified pillars: reinsurance, specialty and bespoke solutions. We are truly diversified. Our long-standing partnerships with capital providers and quota share partners make us nimble. Our breadth of expertise and capabilities deliver outstanding market returns.

The role

This role is an essential part of the Technical Operations Team, and the purpose of the role is to manage and complete the risk capture and endorsement processing ensuring the capture of accurate and appropriate data, which is recorded in a timely manner.

Key accountabilities

Binding/Slip Processing

• Responsible for ensuring that the in house and outsourced teams responsible for binding/slip processing, maintain and own the entry and accuracy of data within the underwriting system of record from the underwriting slips for inwards business.
• Liaise and forge strong working relationships with key stakeholders.
• Responsible for ensuring the support of improving the Binding Operational function by reviewing existing processes and creating efficiencies.
• Attend the Underwriting and Marketing Conference Call (UMCC) meetings on a monthly basis to gain a better understanding of the underwriting rationale.

Endorsement Processing

• Responsible for ensuring that the in house and outsourced teams responsible for endorsement processing, maintain and own the entry and accuracy of data within the underwriting system of record from the endorsements for inwards business.

Outsourced Management

• Ensure SOPs are in place and are reviewed and updated on a quarterly basis to incorporate any changes to the processes or system improvements.
• Ensure SLAs and KPIs are defined and met by the outsourced provider including agreed processing volumes and quality performance related measurements

Earnings

• Responsible for the liaison with the Actuarial team so that all custom earning patterns are updated in the system of record by each month close.

Data Quality

• Responsible for the maintenance and the ownership of the entry and accuracy of binding and endorsement data within Prequel.
• Responsible for ensuring that the in house and outsourced the teams are fully trained in each Line of Business and their processes by attending learning sessions and communicating with the underwriters and underwriting assistants.
• Ensure that all agreed data quality targets are met.
• Responsible for ensuring that all identified data quality errors are corrected by the following day after discovery.
• Where data quality issues are identified in relation to outsourced processing, work with the outsourced providers leadership team to ensure that root cause analysis is undertaken and ensure remediation plans are defined and implemented by the outsourced provider to prevent recurrence.

Performance Monitoring & Reporting

• Responsible for ensuring that the team have a full understanding of the month end procedures and that all deadlines are completed in a timely manner, including the resolution of queries with the underwriters before month close.
• .Manage and prioritise workload and take ownership of relevant responsibilities ensuring that all the SLA’s are met on time with no exceptions.
• Responsible for ensuring the team fully support audits and that all action points arising from the audit are completed within the given deadlines.
• Responsible for the production of reporting for Management and Board meetings.
• Responsible for the maintenance of all Binding documentation including manuals, SLA’s and KPIs. Participate in Project work and Process Improvement Initiatives as required.

Skills & experience

• Minimum of 8-10 years experience in Insurance industry.
• Demonstrated Operations/Management Experience.
• Experience in managing outsourced providers
• A practical understanding of Underwriting and Policy Administration systems.
• Basic competency in MS Office applications: Word and Adobe Standard required
• Advanced Outlook and Excel skills.
• Demonstrated ability to master new concepts quickly, take initiative and manage operations teams.
• Excellent communication skills and ability to work with all levels of management.
• Proven ability to develop and maintain relationships with key stakeholders both internal and externally across the Company.
• Ability to present and interpret reports to senior management.
• Proven prioritization and time management skills with accurate results.
• Must be able to self-lead and work effectively both independently and with teams.
• Demonstrated ability to deliver and manage accurate thoughtful detail-oriented work within tight deadlines.

Other

The Fidelis Partnership Ethos

At The Fidelis Partnership, we aim to be different while making a difference.

• We set the standard for quality in our industry. Guided by our expertise, our clients can take unique and material risks with confidence.
• Our approach is tailored and designed to deliver excellence for our clients. We are trailblazers, creating unique solutions in the (re)insurance space.
• We are experts. Our brokers and clients value the depth of our knowledge and experience. We leverage state-of-the-art underwriting technology to be a market leader.
• We believe sound ethics make for good business. We deliver value for our customers, investors and communities while actively avoid trading with industries that cause harm to people, the environment and animals.
• We pride ourselves in creating a workplace that prizes execution, meritocracy, Diversity & Inclusion. Our people herald from countless backgrounds and are united by ambition and the unabashed desire to deliver excellence every day. We provide a competitive environment that helps people cultivate themselves professionally and personally and balance a rigorous workplace with a mindset that prioritises environmental and charitable activities in our communities worldwide.

Our ethos dictates our decisions and actions. It unites us as a team of experts and colleagues and provides us with a compass for ensuring we deliver our best to every stakeholder we serve.

Diversity, Equity & Inclusion

Diversity & Inclusion in the workplace

• Insofar as possible, we aim to ensure the composition of our workforce reflects the make-up of the local community
• We have specific programmes in all our offices to support diversity within the hiring process, e.g. internship and scholarship award programmes
• This is a particular focus in Bermuda, where we engage actively with local organisations to source diverse talent and provide coaching/mentoring for underrepresented groups
• We aim to maintain a focus on equal opportunities across all stages of hiring process
• We measure and minimise the pay gap where possible.

Bring Your Whole Self to Work

Our vision is for a workplace culture where differences are valued and where diversity of background, experience and thought are welcomed. We want to create an environment where all employees, regardless of who they are, are given equal opportunities for career progression and enjoy fair reward from their and The Fidelis Partnership’s successes. This will be driven by a workforce that embraces Diversity & Inclusion at every level, in every department across The Fidelis Partnership.

To ensure that all candidates have a fair opportunity to show their abilities during the recruitment process, adjustments may be required. If your physical or mental health or disability may necessitate an adjustment, please contact fidelis@avenciaconsulting.com to discuss. All information relating to your health or disability will be treated in accordance with our data protection policy.

Apply by 20/06

Reference: FID01427