Senior Binding Authority Technician

Job Vacancy
May. 2022

Introduction

Bell & Clements Limited is a Lloyd’s Broker authorised and regulated by the Financial Conduct Authority. Formed over 35 years ago, we became approved by Lloyd’s in 1987 and then became part of the Munich Re Group in 2007.  We offer insurance and reinsurance intermediaries throughout the world access to Lloyd’s of London and to London, European and Bermudian companies.

We specialize in providing US Managing General Agents (“MGAs”) with a comprehensive service for surplus lines business. We are acknowledged market leaders in arranging binding authorities for US MGAs and in managing the relationship between the MGA and Insurers.

We also provide, through our Bell & Clements Underwriting Managers division, a capability to quote and bind a wide variety of risks under our own in-house binding authorities.

Technical Department - Binder Team

Based in London, the Technical Department currently has a team of 12 employees.  Within the Technical Department, the Binding Authority team currently consists of 6 employees.

The Role – Senior Binding Authority Technician

Overview

We are looking to recruit an experienced Binding Authority Technician who would be reporting to the Binding Authority Technical Management team, the purpose of this role will primarily be to contribute towards the smooth running of the Binding Authority team within the Technical Department, providing support to the Broking and Managed Underwriting departments, with particular attention being made towards the points detailed below.

Responsibilities

  • Maintenance/back-up of the Binding Authority diary.
  • Assist with production of Confirmations of Cover, Endorsements and other general correspondence.
  • Submission of Binding Authority Agreements/Endorsements to Delegated Contract Manager (DCOM).
  • Submission of Binding Authority Agreements/Endorsements/Premium Bordereaux to Xchanging (DXC) and dealing with any resulting queries.
  • General office administration.
  • Strong understanding and experience in Premium Bordereaux processing.
  • Contract Creation/Submission of Premium Bordereaux to the DDM System.
  • To learn and assist where necessary in all areas of the binding authority team.
  • Awareness of FCA rules as may be applicable to this role.
  • To abide by the policies and procedures of Bell & Clements Limited.

Skills and experience

  • Minimum 3 years working experience for a Lloyd’s Broker.
  • Knowledge of US business would be an advantage.
  • Detailed knowledge of latest Binding Authority Agreement processes and procedures.
  • Experience of working in a technical binder processing role essential.
  • Experience in premium bordereaux processing.
  • Excellent communication skills both written/verbally, as well as being well organised and able to work with your own initiative and as a team.
  • Flexibility and ability to meet deadlines.
  • MS Office Intermediate level essential.
  • Good working knowledge of DXC, DCOM, DDM.
  • Any general office experience and/or specific exposure to the insurance industry must be an advantage.

Terms and Conditions

  • This position is offered on a permanent basis.
  • Hybrid Working Environment.
  • Annual salary will be dependent on the skills and experience of the successful candidate.
  • Benefits as per Bell & Clements standard employee offering (upon successful completion of any probationary period)

Equal Opportunities

Bell and Clements is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, transgender status, religion or belief, marital status, or pregnancy and maternity.

Category: Job Vacancy
Tags: Technical Team