Outsourced Activities Controller
About this job
POSITION: Outsourced Activities Controller English & French & 3rd language
MAIN FUNCTION: The Outsourced Activities Controller has the main responsibilities of:
- Auditing and monitoring contractual obligations of counterparties
- Report writing
- Follow up on control recommendations
- Business systems and processes improvement
REPORTING TO: OAC Supervisor
Duties and Responsibilities
- Controlling and Monitoring all delegated outsourced activities such as but not limited to: Sales and distribution Processes, Subscriptions Process, Claims Handling, Complaints Handling, Quality, Fraud, Freedom of Services (FOS) checks, AML checks, BCP checks, Data protection and Information security.
- Conduct Third Part Administrators (TPA) and/or Finance Partner onsite audits, off site audits and regulatory visit (when applicable) including all the above mentioned delegated outsourced activities
- Review & Preparation:
– Chair cross-departmental meetings as part of the pre-audit process
– Assessment and monitoring of issues raised
– Review related contracts & agreements in advance – understanding cross-functioning of ` business lines. –
Sample preparation for onsite analysis and review, full analysis of the available partners’ data
– Liaise and update all stakeholders and maintain communication with business development team.
- Conducting on-site audit:
– Verify that the claims administration and distribution process are in line with guidelines and contractual agreements
– Monitor that the quality of all the above mentioned delegated outsourced activities and services to customers provided by these TPA and/or Finance Partners, are meeting the required standards and that there is consistency of methods, processes and practices
– Control the insurance premium calculation and the related payment processes
– Monitor complaints handling process and liaise with the relevant Departments for all contentious claims that proceed to lawsuit level
– Verify the compliance standards and liaise with the Compliance Department for all compliance matters – Monitor and assess additional ad-hoc issues identified within various business teams – FOS checks – all activities within regulatory norms.
- Post-Audit & Evaluation:
– Debrief stakeholders and management team on key issues and results
– Conduct & report risk-assessment of findings
- Audit Reporting and Continuous Evaluation
- Draft detailed report to established guidelines & standards, documenting results and measurement of key areas
- Include risk assessment of all issues
- Report on FOS, BCP and AML checks
- Processes and Procedures
- Cooperate in updating processes and procedures for all current partnerships
- Analyse and monitor the day to day activity of current TPA and/or Finance Partners – and the delivery of SLAs as outlined in the Cooperation Agreement
- Identify process weaknesses and initiate the implementation of corrective measures
- Participate to various projects (when applicable)
- Providing some support on training issues and preparation of training programs.
- Insurance or Audit related certification (e.g. ACII, IIA) an advantage
- Experience with On-site Audits and Control experience.
- Between 3 and 5 years proven background in Life/General Insurance environments.
- Knowledge and understanding of mitigating outsourcing risk and regulatory requirements for managing an outsourcing framework.
- Excellent communication skills and ability to liaise with management/executives within each of the TPA and/or Finance Partners.
- Strong reporting writing skills to senior management level. Written English must be perfect.
- Be able to work on own initiative and able to work as part of an international business team.
- Professional experience in Audit and/or quality check and/or contractual obligation checks an advantage * Regular travelling throughout Europe
- English & French
- Insurance Division: Dublin Management Team, and internal functional teams
- The Compliance and Risk Functions
- External: Partners in Europe: Third Party Administrators, Finance Partners and Telemarketing