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Candidates must have the full & permanent right to work in the UK
The Role
The MGA Operations Specialist is to act as a key member of the SCOR Delegated Operations management team working in a fast-paced environment that encourages new ideas and a fresh way of thinking.
As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk. Applying "The Art & Science of Risk," SCOR uses its industry-recognized expertise and cutting-edge financial solutions to serve its clients and contribute to the welfare and resilience of society in around 160 countries worldwide. Working at SCOR means engaging with some of the best minds in the industry - actuaries, data scientists, underwriters, risk modelers, engineers, and many others - as we work together to find solutions to pressing challenges facing societies.
As an international company, our common culture is defined by "The SCOR Way." Serving both to build momentum that drives the Group forward and as a compass to guide our actions and choices, The SCOR Way is anchored by five core values, reflecting the input of employees at all levels of the Group. We care about clients, people, and societies. We perform with integrity. We act with courage. We encourage open minds. And we thrive through collaboration. SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.
Job Description
- Oversee Regional operational support for Company delegated classes of business.
- Management of Binding Authorities and Line Slips, associated activities and reporting.
- Ensure compliance to SCOR minimum standards including data quality.
- Oversight of Delegated Authority policy and controls.
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Job Responsibilities
SCOR Company or Syndicate Delegated Authority:
- Partner governance & oversight: Managing regional operational relationships with Coverholders or MGAs to ensure adherence to guidelines and service standards.
- Management of due diligence process and administration of all classes for corresponding coverholders/for MGAs or TPAs. Including but not limited to, new Coverholder sponsorship, annual due diligence review and approval (including all third parties),
- Foster internal collaboration and alignment between functional departments.
- Liaising and providing guidance to underwriters, transversal functions and stakeholders,
- Oversight and control of internal/external business associated forums and actions,
- Management of outsourcing arrangements and monthly performance against SLA's,
- Audit & compliance: Ensuring MGAs/DCAs comply with regulatory requirements, SCOR's standards by conducting regular due diligence and operational audits.
- Review third - party audit recommendations and resolution of identified actions,
- Ensure data quality meets SCOR standards and rectify where gaps identified,
- Oversight of income or EGPI reviews, updates; results and reporting requirements, including outward contracts reporting needs.
- Identify opportunities for improvements in cost savings and efficiency across the processes,
- Oversight of statutory, regulatory and non-regulatory reporting, including requirements and report development.
- Ensure delegated systems including Alpha, SalesForce, Vipr and the HUB remain fit for purpose,
- Oversight of premium and claims bordereaux to ensure financial bookies are performed timely, driving data quality and metrics.
- Lead and contribute to department's document library by creating and maintaining policies, programs and procedures to ensure it meets business needs.
- Other management ad hoc tasks as required.
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Change and Operational Improvements:
- Champion in identifying, executing and communicating improvements to the operating model (technology and process).
- Lead and Define data and risk assessment guidance related standards across SCOR.
- Support cross company collaboration through targeted workshops, status briefs and informal updates.
- Manage monthly or quarterly internal controls while implementing process efficiencies where possible.
Committees and Memberships:
- Member of portfolio risk management team or SCOR Syndicate Conduct Risk Product Oversight Committee and Delegated Underwriting Committees.
- Member of the extended P&C operations management team.
Required experience & competencies
- Strong P&C industry knowledge, with a demonstrable understanding of the underwriting process, underwriting file management, and overall insurance company operations.
- Experience in designing and evaluating controls
- Couple of years of experience in Insurance Related or DUA
Required Education
- College/University degree or equivalent qualifications
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