Market Services

The department which provides services to members in relation to their underwriting at Lloyd’s including maintenance of funds of Lloyd’s (FAL) and distribution of profits and losses, whilst protecting capital security by ensuring that members meet capital requirements and regulatory demands.

Headed by Karen Oliver

 

Custody Operations

Headed by Mark Baker

FAL Management

Managed by Anne Cooper

Responsibility – custody and maintenance of all assets held within FAL for individual, small corporate and Direct Corporate Participant (DCP) members. This includes FAL re-arrangements and substitutions together with the management of the bi-annual coming into line process.

Alpha

Managed by Sally Tyler

Responsibility – administrative services to Alpha Insurance Analysts in London, liaison with members regarding coming into line, distribution of profits, auctions participations and FAL management.

Distribution

Managed by Theresa Thorp

Responsibility – distribution of profits and collection of losses from member in accordance with instructions received from members’ agents and DCPs.  Publication of Consolidated Personal Accounts and administration of capacity auctions and creation of syndicate stamp.

 

Members Regulatory Affairs

Headed by Nikki Hopper

Compliance and Membership

Managed by Angela Beckingham

Responsibility – ensuring that Market Services teams comply with all internal and external regulatory requirements to include compliance, financial crime and anti-money laundering, in conjunction with Lloyd’s compliance team. Issues relating to corporate membership, including the election of new limited liability members. Maintenance of members standing data, historical enquiries, register of member and data associated with AGM and Council Elections.

Internal Control

Managed by Jo Caller

Responsibility – deliver the Solvency II, Pillar 3 reporting requirements for FAL. Produce the Lloyd’s FAL valuation and Capital Test. Ensure that reconciliations are performed against UK GAAP and Solvency II valuations.

 

Asset Services

Headed by Peter Connop

Corporate Actions and income

Managed by Kerry Tyler

Responsibility – processing of both mandatory and voluntary corporate action events in accordance with the members’ instructions whilst ensuring adherence to the UK and global market event deadlines. The receipt and payment of UK and overseas income to members and the dispatch of all tax vouchers.

Settlement Services

Managed by Rose Hughes

Responsibility – settlement and registration of all trading assets held within members’ FAL. Liaison with Investment Managers and Custodians to ensure timely and accurate settlement across global stock markets.

 

Risk Management and BCP

Executive – Kim Harris

Responsibility – to develop and maintain an effective Business Continuity Plan for Market Services. To develop and maintain effective risk management and management information reporting within Market Services.

 

Business IT Support

Managed by Nick Brinn

Responsibility – day to day management of Market Services systems including Tarot (custody system), bi-annual interest payments to members on cash held as FAL and the production of cash movement statements. Oversight of all user testing and sign off on test scripts.