Delegated Authority Senior Audit Analyst

Role Overview

The Delegated Authority Senior Audit Analyst plays a pivotal role in ensuring the robust oversight and effective management of audits conducted on Coverholders and Delegated Claims Administrators (DCAs). This position is integral to maintaining Chaucer’s high standards of governance and regulatory compliance across its delegated authority arrangements.

• Audit Oversight & Management:
• Lead the coordination and monitoring of audit activities, ensuring audits are conducted in line with Chaucer’s internal standards and external regulatory expectations. This includes managing audit schedules, tracking progress, and ensuring timely completion and reporting.
• Audit Analysis & Reporting:
• Review and interpret audit reports to identify key findings, trends, and areas of concern. Provide insightful analysis to internal stakeholders, supporting continuous improvement and risk mitigation.
• Stakeholder Engagement:
• Build and maintain strong working relationships with internal teams (Underwriting, Compliance, Claims, etc.) and external parties (Coverholders, DCAs, auditors). Act as a key point of contact for audit-related queries and communications.
• Audit Scoping & Planning:
• Contribute to the development and refinement of audit scopes, ensuring they are risk‑based and tailored to the nature of the delegated arrangement. Review and assess audit proposals and quotes to ensure value and effectiveness.
• Performance Monitoring & Auditor Management:
• Support the selection of suitable audit firms and monitor their performance against agreed KPIs and service standards. Provide feedback and contribute to auditor performance reviews.
• Regulatory Compliance:
• Maintain a thorough understanding of relevant regulatory frameworks, including Lloyd’s Minimum Standards, FCA Conduct rules (e.g., Consumer Duty), Financial Crime obligations, and broader compliance requirements. Ensure audit activities align with these obligations.
• Data & KPI Reporting:
• Assist in the preparation and presentation of audit‑related KPIs and MI to senior management and governance committees, contributing to strategic decision‑making and oversight.

• Analytical and organisational skills, with the ability to manage multiple audits and priorities simultaneously.
• Excellent communication and interpersonal skills, capable of engaging effectively with diverse stakeholders.
• In‑depth knowledge of Lloyd’s and London Market practices, particularly in relation to delegated authority.
• Familiarity with audit methodologies and principles, ideally within an insurance or regulatory context.
• A proactive and detail‑oriented approach, with a commitment to continuous improvement and risk management.

• Conduct thorough analysis of audit reports for both Coverholders and Delegated Claims Administrators (DCAs), ensuring that any issues, risks, or areas of non‑compliance are identified, escalated, and appropriately resolved.
• Assist the Delegated Authority Audit Manager in planning and scheduling audits, ensuring alignment with risk‑based priorities and regulatory expectations.
• Oversee and maintain the audit schedule, tracking progress and ensuring timely execution and reporting of all planned audits.
• Ensure that Coverholders and DCAs are assigned to the correct audit cycle based on risk assessment, performance, and regulatory requirements.
• Collaborate with internal business units and market stakeholders to define the scope of individual audits and agree on appropriate recommendations and follow‑up actions.
• Promote understanding and adherence to Chaucer’s internal standards and applicable regulatory requirements among Coverholders and DCAs.
• Lead the scoping of audits for both Coverholders and DCAs, ensuring that audit objectives are clearly defined and tailored to the nature of the delegated arrangement.
• Review and approve audit quotes, ensuring cost‑effectiveness and scope accuracy, and support the processing of related invoices.
• Contribute to the preparation and delivery of KPI and management information reporting to support governance and oversight.
• Assist in maintaining records of auditor performance, including feedback and…