- Senior
- Bureau à London
Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.
Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks.
Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.
Newly created opportunity within the Market Development team, to lead the process to assess the suitability of a new Managing Agents to join the Lloyd’s market.
You will build trusted partnerships with PRA and FCA counterparts in the authorisation and supervision teams to ensure aligned perspectives on applicants’ suitability and maintain open and transparent relationships.
Key deliverables include:
Project manage Managing Agent applications from first enquiry through assessment to authorisation (or declinature) and post-authorisation activities.
Judge the suitability of new Managing Agents to join the Lloyd’s market, documenting observations and conclusions.
Engage with senior leaders of potential new and existing Lloyd’s businesses to understand their proposals and drivers for wanting to join/expand their presence in the Lloyd’s market. As part of this, ensure that they understand the rigour of the authorisation process, both in terms of time, human, and financial resources.
Lead the drafting and editing of each ‘recommendation memo’ on which the PRA and FCA decision makers will base their authorisation decisions, ensuring there is clear consideration of the risks posed by the new Managing Agent from a Lloyd’s and UK regulatory perspective and how these risks will be mitigated post authorisation.
Provide feedback to applicants on any areas of likely weakness in their application, with guidance as to how they may address these through the process.
Lead discussions at Lloyd’s multi-disciplinary early review stage of the new entrant process, as well as workshops between applicants, Corporation colleagues (and PRA/FCA as required) to enable swift and effective decision-making on applicants’ suitability to join the market.
Act as Lloyd’s lead subject matter expert on new managing agent authorisations, advising and guiding colleagues who are project managing their own Managing Agent applications.
Own and edit all materials that describe the application process for new Managing Agents (both externally-facing materials, i.e. guidance to applicants on Lloyds.com, and the internal operating framework agreed between the PRA, the FCA and Lloyd’s.)
Highly beneficial to the role would be:
An understanding of the PRA & FCA’s requirements when authorising a new Managing Agency at Lloyd’s – in particular an understanding of governance structures, expectations under SMCR and the PRA and FCA threshold conditions.
An understanding of Lloyd’s Principles for Doing Business, and how this oversight framework enables a holistic view of the risk posed to Lloyds, with practical examples of good and poor practice.
Experience in a supervisory or authorisation role at the PRA, or to have direct experience of an authorisation process from an advisory capacity.
Experience delivering difficult messages to stakeholders
Experience operating in a matrix environment engaging with and influencing cross-functional teams
Unprecedented levels of enquiries of New Entrants looking to join the Lloyd’s market, make this a very exciting time to join the team and lead the new entrant process to ensure that we continue to grow in a sustainable and profitable way as a market.
Do you align to our values; Be Brave, Stronger Together and We Do the Right Thing! If so, then please apply and come join the team!
Diversity and inclusion are a focus for us – Lloyd’s aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development. You can read more about diversity and inclusion on our website.
We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.
By choosing Lloyd's, you'll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.
Should you require any additional support with your application, or any adjustments, please click the following link;
https://cleartalents.com/apply/lloyds-msa1645695881
