About us
Avencia Consulting are recruiting on behalf of a leading Specialty Insurer based in the City for a Head of Operations to join, where you will be managing delegated authority operations.
The role
The Group Head of Partnership Operations is responsible for the end-to-end management and oversight of delegated authority (DA), Lineslips, Third Pary Capacity (TPC) including the consortia (where the company lead). i.e. all non open market business. This will be together with other teams in the business, most notably the TPC placement team and underwriting teams for DA and lineslips.
*They will lead a team of approximately 6 people as well as an outsourced team to deliver on this.
*Note that ceded reinsurance processes are out of scope.
*DA includes: Coverholders, external (to the Group) MGAs, internal MGAs (which are part of the Group).
*TPC includes carrier partners that provide the business with capacity through binding authority agreements.
*Consortia are TPC consortia that we lead and other syndicates and company markets can participate in.
*The successful candidate will lead operations and develop strong partnerships with key stakeholders, both internal and external.
Key accountabilities
DA
*Governance Framework Management: Oversee and manage the full lifecycle governance and performance oversight of Coverholders, MGAs, Cells, Consortia and Binders. Ensure adherence to governance frameworks and maintain all related documentation across the Group.
*Application and Due Diligence: Together with the relevant underwriter, lead the application, due diligence, and approval processes for new Coverholders, MGA, and Binder business. Manage the ongoing performance and conduct annual audits, reviews, renewals, and off-boarding processes.
*Renewals: Coordinate the renewals with the relevant underwriter and annual renewals and rollover process.
*Referral Processing: Manage the referral process for binder business that requires prior submission, ensuring timely approval in collaboration with relevant business areas.
Lineslips
*Governance Framework Management: Oversee and manage the full lifecycle governance and performance oversight of lineslips. Ensure adherence to governance frameworks and maintain all related documentation across the Group.
*Processing
TPC / Consortia
*Governance Framework Management: Oversee and manage the full lifecycle governance and performance oversight of TPC. Ensure adherence to governance frameworks and maintain all related documentation across the group.
*Once the TPC team have sourced new capacity, onboard and manage all operational aspects.
*Integrate into all functional areas such as tech ops, finance etc.
All areas:
*Broker Relationship Management: Build and maintain strong relationships with brokers, acting as a key liaison to facilitate communication and ensure successful partnerships.
*Partnership Coordination: Coordinate all activities and communication between internal and external parties related to new and existing partnerships, ensuring smooth operations and compliance.
*Underwriting Reports: Provide critical input for the production of underwriting reports, ensuring accuracy and relevance for informed decision-making.
*Regulatory Compliance: Ensure strict adherence to internal and external underwriting regulations. Liaise with brokers, clients, auditors, and regulators to maintain compliance and uphold the firm’s reputation.
*Team Leadership and Development: Manage, motivate, and develop a team of direct reports, ensuring they have clear objectives and receive regular feedback. Oversee staff appraisals and objective-setting processes in line with company standards.
*Operational Efficiency: Support and drive changes necessary to implement and maintain a scalable operating model as the business grows and evolves.
*Performance Monitoring: Oversee performance monitoring activities, including EPI sign-off each quarter, participation in the Delegated Performance Monitoring Group (DPMG), and oversight of the Coverholder audit process.
Skills & experience
*Demonstrated 7+ years experience in managing DA operations and / or consortia.
*Practical understanding of underwriting systems and processes
*Proven ability to quickly master new concepts and take initiative in personal and team development
*Strong relationship-building skills with both internal and external stakeholders
*Excellent prioritisation, time management, and organisational skills
*Ability to deliver accurate, detail-oriented work within tight deadlines and in a fast-paced environment
*High proficiency in Microsoft Office Suite and experience with spreadsheets
*Strong understanding of the international underwriting marketplace
*Proven negotiation skills, with the ability to attract new business and retain clients
*Excellent written and verbal communication skills, with the ability to engage effectively with senior management and external stakeholders
This role is ideal for a dynamic, self-motivated individual with a passion for driving operational excellence and successful partnerships within a fast-paced environment.