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LIO PROCEDURES MANUAL

Detailed job descriptions and procedures manual for key responsibilities and processes of main office divisions. Segmented into Office Manager & Events, General Manager, Regulatory & Compliance, Operations Support, Market Support, and Financial Control.

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LIO PROCEDURES MANUAL

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  1. LIO PROCEDURES MANUAL July 2010

  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 & Events General Manager Regulatory & Compliance Operations Support Market Support Financial Control

  7. Office Manager & Events General Manager Regulatory & Compliance Operations Support Market Support Financial Control

  8. Office Manager & Events

  9. Office Manager & Events • Key Responsibilities • Office Manager & Events is responsible for: • • supporting the General Representative in all office activities and EU projects; • supporting Divisional Managers; • managing events and marketing initiatives • Managing communication and media relations • managing employees health & safety issues • managing issues relating to privacy and 231 laws • managing BCP and BIA

  10. Office Manager & Events Main Internal Relations Reports directly to the General Representative. Cooperates with Divisional Managers. Main External Relations All Third Parties Media Consultants

  11. Office Manager & Events General Manager Regulatory & Compliance Operations Support Market Support Financial Control

  12. General Manager

  13. 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); • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  14. General Manager

  15. Office Manager & Events General Manager Regulatory & Compliance Operations Support Market Support Financial Control

  16. Regulatory & Compliance

  17. 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: • − Anagrafe Tributaria • - Complaints Management; • − Legal Proceedings Management; • − Coinsurance Claims Management • −Coverholder and Open Market Correspondent applications

  18. Regulatory & Compliance Key Responsibilities (cont'd) Anagrafe Tributaria Regulatory & Compliance Manager is 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. Legal Proceedings Management Regulatory & Compliance Manager is required to act as a facilitator between the Lloyd’s Managing Agents and the attorneys as regarding attorneys’ appointment and legal proceedings.

  19. Regulatory & Compliance Key Responsibilities (cont'd) Coinsurance Claims Management Regulatory & Compliance Manager is responsible for granting complete and timely communication among the co-insurers participating in each Policy in order to facilitate funds collection and claims settlement. CH and OMC registrations Regulatory & Compliance Manager is responsible for ensuring that support is given to the General Manager in processing OMC and evaluation CH applications For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  20. Regulatory & Compliance Manager Regulatory & Compliance Executive Regulatory & Compliance Executive • Regulatory & Compliance

  21. 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. Legal advisors Prospective & existing Coverholders and Open Market Correspondents.

  22. Office Manager & Events General Manager Regulatory & Compliance Operations Support Market Support Financial Control

  23. Operations support

  24. Operations support • Key Responsibilities • Operations Support Manager is responsible for managing: • LIO hardware and software, as regarding: • assets buying needs; • Data Bases accessing and using. • Mocha, as regarding: • opening new Binders; • performing help desk activities. • Information management: • Data flows, reporting and analysis • Anagrafe Tributaria • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  25. Operation Support Main Internal Relations Reports directly to the General Manager. Cooperates with ITG (Corporation IT). Main External Relations Coverholders. Lloyd’s Broker. Managing Agents

  26. Office Manager & Events General Manager Regulatory & Compliance Operations Support Market Support Financial Control

  27. Market Support

  28. Market Support • Key Responsibilities • Market Support Manager is responsible, for coordinating the management of the following processes: • Public Tenders; • Policy Checking and Signing; • Contracts Cancellation. • Market Intelligence • Public Tenders • Market Support 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.

  29. Market Support Key Responsibilities (cont'd) Policy Checking and Signing Market Support Manager is in charge of checking for accuracy the Open Market Policies before committing Lloyd’s Underwriters through the General Representative signature. Contracts Cancellation Market Support 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”.

  30. Market Support Market Support Market Support Executive Market Support Executive Market Support Executive

  31. Market Support 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. Managing Agents

  32. Office Manager & Events General Manager Regulatory & Compliance Operations Support Market Support Financial Control

  33. Financial Control

  34. 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.

  35. 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; • translating in Italian, for filing at the Italian Chamber of Commerce purposes, the Corporation-related Lloyd’s Annual Report • supporting the General Manager in HR management • managing supplier relatioships • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.

  36. Financial Control Premiums Executive Claims Executive • Financial Control

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

  38. Premise Job Descriptions Procedures

  39. Roles Matrix Legend Regulatory & Compliance Financial Control Market Support Operations Support Brand & Information Management Office Management & HR

  40. Roles Matrix Legend Regulatory & Compliance Financial Control Market Support Operations Support Brand & Information management Office Management & HR

  41. Roles Matrix

  42. Roles Matrix

  43. Roles Matrix

  44. Roles Matrix Legend Regulatory & Compliance Financial Control Market Support Operations Support Brand & Information Management Office Management & HR

  45. Legend • Activity owner • Activity • External input • XXXXXX Activity to be implemented • Statutory • Document–back up paper evidence • Data Bases and Accounting/Management Systems • Control Activity (if red, control activity relevant ex Italian Legislative Decree 231/2001) • Ref. to other procedures included in the Manual • Ref. to a specific paragraph included in the procedure • Outsourcers performing activities on behalf of LIO ! B

  46. Roles Matrix Legend Regulatory & Compliance Financial Control Market Support Operations Support Brand & Information Management Office Management & HR

  47. Anagrafe Tributaria

  48. Anagrafe Tributaria • Scope • The aim of this Procedure is identifying roles, responsibilities and activities related to the periodic reporting to Anagrafe Tributaria • Responsibilities • The Process involves: • Regulatory & Compliance Manager; • Regulatory & Compliance Executive; • Operations Support Manager. • General Representative

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