About BMS
BMS is a dynamic, independent global broker established in 1980, delivering specialist insurance, reinsurance, and capital markets advisory services. Our purpose is to help people, businesses and communities flourish and prosper in a world of risk.
We are a global brand with offices located across the US, Canada, Latin America, Australia, Europe and Asia with both a strong local focus and understanding of market needs. Being independent gives our brokers the freedom to deliver the best solutions and combined with our collaborative team approach, single platform worldwide and renowned personal service, we are the independent broker of choice.
Summary of Position:
As a Binding Authorities Technician, you will be responsible for creating and managing the full binding authorities process.
Key Responsibilities & Accountabilities:
- Create and prepare Binding Authorities, Lineslips and facilities with the assistance of the brokers
- Using the Lloyd’s Delegated Contract and Oversight Manager (D-COM) registration system and upload the information onto the Atlas database
- Submitting and signing Binding Authorities into Xchanging
- Prepare off-slips/certificates where required
- Invoice the off-slips/certificates where required
- Send out off-slips/certificates to clients where required
- Assist in the creation and maintenance of comprehensive client and broking documents including the facilities renewal statistics / information.
- Liaise with individual Syndicates Delegated Underwriting Team
- Liaise with internal & external stakeholders to deliver a consistently excellent & comprehensive service
- Assist with the development, analysis and maintenance of comprehensive data for the facilities
- Maintain up to date & accurate documentation, files, excel spread sheets relating to the particular facility
- Deal with incoming enquiries from Clients, Underwriters and third parties
- Collate monthly ‘Earned to Incurred’ statistics, ‘Aggregate reports’ and Premium Income ensuring Premium and Risk Bordereaux are sent to Underwriters where required within the time scale
- Signing such Premiums Bordereaux via Xchanging
- Handle any or all queries from Xchanging when signing such Premium Bordereaux
- Experience and understanding using the Lloyd’s Binding Authority QA tool
- Provide advice and assistance to brokers in the placement of the facilities
- Liaise with Accounts department and Business Units where required
- Ensure all KPIs are met
- Adhere to company and regulatory policies, procedures together with mandatory training requirements
- Adhere to financial reporting requirements including monthly phasing of income
Functional & Behavioural Competencies required:
- Maintain strong relationships with Clients and Underwriters
- Demonstrate commitment to continuous personal and professional development through active participation in development events
- Proven track record in handling binding authorities from cradle to grave, experience in working in the specifically Property and/or Casualty lines of business would be ideal
- Competent IT skills, including but not limited to Microsoft Word, Excel & PowerPoint would be ideal
- Ability to communicate effectively, both verbally & in writing, with internal & external stakeholders
- Detailed understanding of the process and procedures within the insurance market.
- Professional and personable
- Ability to think laterally and solve problems using own initiative
- Ability to work effectively within a team
- Strong prioritisation and organisational skills
- Self-motivated and able to work independently
- Basic technical knowledge of FCA regulations as they pertain to Binding Authorities and the Role a Lloyd’s broker plays in respect 3rd Party binders and in-house binders
- Knowledge of Eclipse/Sequel would be beneficial, but not essential
Personally demonstrate the five BMS values and ensure that team members are aligned with these:
Accountable
Entrepreneurial
Collaborative
Empowering
Disciplined
What’s in it for me?
This role offers a competitive salary and bonus, 27 days holiday, plus access to our personalised benefits platform, Your Rewards, including:
- comprehensive private medical cover for you and your dependents
- complimentary annual health checks
- access to a virtual 24hr GP
- critical illness cover
- gym subsidy & dedicated wellbeing support
- retail discounts
- opportunity to purchase equity
- defined contribution pension
Through our Diversity, Equity and Inclusion (DEI) vision, we are committed to ‘building a culture of belonging for all, valuing diverse perspectives and embracing authenticity.’ As such, we have created our ‘BMS Together’ programme, with dedicated training, collaborative committees and intentional partnerships. In support of our ESG vision, we offer two additional paid days each year to take part in charitable work.
BMS offers flexible and hybrid working policies and we’re happy to discuss options with you upon application. Please let our team know if you require any adjustments to support you through the application process.