Delegated Authority Audit

Date: 24 Apr 2023

Sector: INSURANCE Type:
Permanent

Location:

London Salary: 60000 - 71500 per annum

Email: brian@taylorjamesresourcing.comRef: BT982 Delegated Authority Audit . to 71,500

This high respected insurance organisation offers a exceptionally friendly, hybrid work environment and a generous benefits package including bonus.

They are now looking for a candidate with a strong delegated authority background to be responsible for the organising of audits of all those Outsourced Service Providers to whom the company delegates authority. This could be in the form of underwriting, claims and / or product distribution. This will include audit preparation, on-site fieldwork, drafting of the audit report and of the tracking of the closure of audit findings.

The successful candidate will provide independent, unbiased, reasonable, assurance and validation that OSPs are operating as expected and are complying with contractual and regulatory requirements, laws (and best practice wherever possible) and have in place appropriate systems and controls to ensure positive consumer outcomes.

To plan, organise and carry out audits both onsite and remotely as required, this includes travel and opportunities for overseas travel.as per the Agency Audit Plan. The audits will typically focus on the processes and controls in all areas of delegated authority including policy underwriting, finance and reporting, claims, I.T, governance and compliance.

To report and make recommendations on the systems and procedures being reviewed, monitor management's response and facilitate implementation.

Preparation and delivery of audit reports.

To identify any risks arising from Agency Audits carried out and ensure appropriate remedial action is communicated and action taken to address.

To maintain the ‘Audit Tracker’ in accordance with the guidelines set.

Identify and record regulatory and/or contract breaches found during audit

Escalate overdue audit findings

Maintain full audit records and evidence of testing work undertaken.

Assistance with annual audit planning and reporting to the relevant Management Committees where required.

Working alongside other business units or external resources on specialist ad hoc audit projects where required.

To carry out appropriate due diligence / on-boarding processes from time to time to ensure the suitability of potential new business and business partners and report findings accordingly.

Provide support to colleagues or other business units or external resources for ad hoc requests, or longer-term projects.