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LIO PROCEDURES MANUAL

LIO PROCEDURES MANUAL. December 2008. Premise Job Descriptions Procedures. Premise Job Descriptions Procedures. The aim of the Lloyd’s Italian Office (hereafter LIO) Procedures Manual is collecting: Job Descriptions and Procedures related to the main Office Divisions identifying:

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LIO PROCEDURES MANUAL

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  1. LIO PROCEDURES MANUAL December 2008

  2. Premise Job Descriptions Procedures

  3. Premise Job Descriptions Procedures

  4. The aim of the Lloyd’s Italian Office (hereafter LIO) Procedures Manual is collecting: • Job Descriptions and • Procedures related to the main Office Divisions identifying: • competent Managers’ key responsibilities and • core processes’ operative and control activities. Job Descriptions are to be considered as the top level of the organisational model detailed into Procedures describing the Office processes.

  5. Premise Job Descriptions Procedures

  6. Office Manager General Manager Distribution & Market Development Regulatory & Compliance IT Local Services Financial Control

  7. General Representative Office Manager EU projects General Manager Distribution & Market Development Regulatory & Compliance IT Resources Local Services Financial Control

  8. Office Manager General Manager Distribution & Market Development Regulatory & Compliance IT Local Services Financial Control

  9. General Representative Office Manager EU projects General Manager Distribution & Biz Development Regulatory & Compliance IT Resources Local Services Financial Control • Office Manager

  10. Office Manager • Key Responsibilities • Office Manager is responsible for: • • supporting the General Representative in all office activities; • managing relations with suppliers • supporting Divisional Managers; • managing the Receptionist & GR’s PA • managing events

  11. Office Manager EU projects Receptionist & GR’s PA • Office Manager

  12. Office Manager Main Internal Relations Reports directly to the General Representative. Cooperates with Divisional Managers. Coordinates the Receptionist’s activity. Main External Relations All Third Parties. Outsourcers

  13. Office Manager General Manager Distribution & Biz Development Regulatory & Compliance IT Local Services Financial Control

  14. General Representative Office Manager EU projects General Manager Distribution & Market Development Regulatory & Compliance IT Resources Local Services Financial Control • General Manager

  15. General Manager • Key Responsibilities • General Manager is responsible for: • implementing the Lloyd’s strategy, • coordinating Divisional Managers; • overseeing the correct activities Development; • Market development; • evaluating Coverholders and Open Market Correspondents applications; • defending the inappropriate use of the Lloyd’s brand; • managing Human Resources (pro-tempore); • granting employee safety. • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  16. General Manager Distribution & Market Development Regulatory & Compliance IT Resources Local Services Financial Control • General Manager

  17. General Manager Main Internal Relations Reports directly to the General Representative. Cooperates with Divisional Managers and the Lloyd's Distribution Network. Main External Relations All Third Parties. Outsourcers. Industry Associations.

  18. Office Manager General Manager Distribution & Market Development Regulatory & Compliance IT Local Services Financial Control

  19. General Representative Office Manager EU projects General Manager Distribution & Market Development Regulatory & Compliance IT Resources Local Services Financial Control • Distribution & Biz Development

  20. Distribution & Biz Development Key Responsibilities Distribution & Market Development is responsible for supporting the General Manager in evaluating Coverholder and Open Market Correspondent applications. Main Internal Relations Reports directly to the General Manager. Cooperates with the Lloyd's Distribution Network. Main External Relations Prospective & existing Coverholders and Open Market Correspondents.

  21. Office Manager General Manager Distribution & Market Development Regulatory & Compliance IT Local Services Financial Control

  22. Regulatory & Compliance General Representative Office Manager EU projects General Manager Distribution & Market Development Regulatory & Compliance IT Resources Local Services Financial Control

  23. Regulatory & Compliance • Key Responsibilities • Regulatory & Compliance Manager is responsible for: • • identifying and circulating any relevant legislative provisions to ensure regulatory compliance; • • coordinating the management of the following processes: • − Claims Settlement; • − Complaints Management; • − Legal Proceedings Management; • − Coinsurance Claims Management.

  24. Regulatory & Compliance Key Responsibilities (cont'd) Claims Settlement As regarding the day by day activity, Regulatory & Compliance Manager oversees the entire Claims Settlement process assuring complete and accurate management of all claims reported and managing particular situations. Regulatory & Compliance Manager is also responsible for preparing the statutory periodic reporting to be submitted to the “Anagrafe Tributaria” in accordance with the Italian Legislative Decree 223/06, art. 35 and for complying with any other relevant legislative provision. Complaints management Regulatory & Compliance Manager is responsible for complying with “ISVAP Circolare 518/D” requirements in terms of managing complaints receipt and answering and is also responsible for quarterly statutory reporting to ISVAP.

  25. Regulatory & Compliance Key Responsibilities (cont'd) Legal Proceedings Management Regulatory & Compliance Manager is required to act as a facilitator between the Lloyd’s Underwriters and Brokers and the attorneys as regarding attorneys’ appointment and legal proceedings updating towards the Lloyd's Distribution Network. Coinsurance Claims Management Regulatory & Compliance Manager is responsible for granting complete and timely communication among the coinsurers participating in each Policy in order to facilitate funds collection and claims settlement. For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  26. Regulatory & Compliance Manager Regulatory & Compliance Executive Regulatory & Compliance Executive • Regulatory & Compliance

  27. Regulatory & Compliance Main Internal Relations Reports directly to the General Manager. Cooperates with Financial Control Division and the Lloyd's Distribution Network. Main External Relations Insured Parties. ISVAP. Outsourcers.

  28. Office Manager General Manager Distribution & Market Development Regulatory & Compliance IT Local Services Financial Control

  29. General Representative Office Manager EU projects General Manager Distribution & Market Development Regulatory & Compliance IT Resources Local Services Financial Control • IT resources

  30. IT resources • Key Responsibilities • IT Manager is responsible for managing: • • LIO hardware and software, as regarding: • assets buying needs; • assigning, inventorying and maintaining; • Data Bases accessing and using; • backing up and mirroring; • • Mocha, as regarding: • opening new Binders; • performing help desk activities. • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  31. IT resources Main Internal Relations Reports directly to the General Manager. Cooperates with ITG (Corporation IT). Main External Relations Coverholders. Lloyd’s Broker.

  32. Office Manager General Manager Distribution & Market Development Regulatory & Compliance IT Local Services Financial Control

  33. General Representative Office Manager EU projects General Manager Distribution & Market Development Regulatory & Compliance IT Resources Local Services Financial Control • Local Services

  34. Local Services • Key Responsibilities • Local Services Manager is responsible, for coordinating the management of the following processes: • Public Tenders; • Policy Checking and Signing; • Contracts Cancellation. • Public Tenders • Local Services Manager is responsible for facilitating the Lloyd's Distribution Network in participating in Italian Public Tenders through: • preparing and submitting bids to Public Body and • analysing, in case of contract awarding, related Cover Notes and Policies accuracy.

  35. Local Services Key Responsibilities (cont'd) Policy Checking and Signing Local Services Manager is in charge of checking for accuracy the Open Market Policies before committing Lloyd’s Underwriters through the General Representative signature. Contracts Cancellation Local Service Manager is also responsible for enabling timely policy cancellation as requested by both Insured Parties and Underwriters. For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  36. Local Services Local Services Public Tenders Executive Public Tenders Executive Public Tenders Executive

  37. Local Services Main Internal Relations Reports directly to the General Manager. Cooperates with the Lloyd's Distribution Network. Main External Relations Public Bodies as Public Tenders and related Brokers. Insured Parties.

  38. Office Manager General Manager Distribution & Market Development Regulatory & Compliance IT Local Services Financial Control

  39. General Representative Office Manager EU projects General Manager Distribution & Market Development Regulatory & Compliance IT Resources Local Services Financial Control • Financial Control

  40. Financial Control • Key Responsibilities • Financial Control Manager is responsible for coordinating the management of the following processes: • Premiums and Premium Taxes Cash Flow; • Financial Statement Preparation; • Cash Management. • Premiums and Premium Taxes Cash Flow • Financial Control Manager is responsible for managing premiums receipt for “Freedom of Establishment” policies only and for managing premium tax return submission and payment for both “Freedom of Establishment” and “Freedom of Services“ policies in compliance with the fiscal legislation applicable. • Financial Statement Preparation • Financial Control Manager is in charge of preparing, supported by the Outsourcer, the LIO Financial Statement for tax payment purposes granting its correctness and accuracy.

  41. Financial Control • Key Responsibilities (cont'd) • Cash Management • Financial Control Manager is responsible for managing bank accounts and petty cash in order to guarantee that all payments and incomings be completely, accurately and timely recorded. • In addition to the above mentioned responsibilities, Financial Control Manager is responsible for: • supporting the General Representative in preparing the Budget and • translating in Italian, for filing at the Italian Chamber of Commerce purposes, the Corporation-related Lloyd’s Annual Report. • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  42. Financial Control Premiums Executive Claims Executive • Financial Control

  43. Financial Control Main Internal Relations Reports directly to the General Manager. Cooperates with the Lloyd's Distribution Network. Main External Relations Banks. Outsourcers.

  44. Premise Job Descriptions Procedures

  45. Roles Matrix Legend Regulatory & Compliance Financial Control Local Services IT Resources Distribution & Market Development HR

  46. Roles Matrix Legend Regulatory & Compliance Financial Control Local Services IT Resources Distribution & Development HR

  47. Roles Matrix

  48. Roles Matrix

  49. Roles Matrix

  50. Roles Matrix Legend Regulatory & Compliance Financial Control Local Services IT Resources Distribution & Development HR

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