Finex Broker, Financial Institutions - Toronto, Canada - WTW

WTW

Verified Company

Toronto, Canada

4 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

The FINEX Senior Associate Broker role within the Financial Institutions & Professional Services (FIPS) Industry Vertical Division will be responsible for managing the day-to-day broking responsibilities for Financial & Executive Risk lines and Property & Casualty programs both independently and in conjunction with other team members.

The Senior Associate Broker will be responsible for handling both new and renewal business.

Other duties and responsibilities will include but are not limited to negotiating policy terms and conditions with underwriters, conducting renewal strategy and proposal presentations, and adhering to internal compliance protocols.

Our FIPS FINEX Brokers serve as an integral interface between WTW clients, prospects and various insurers in the marketplace.

They advise colleagues on the design of complex risk management programs for FI clients; present submissions to insurers, negotiate to secure coverage that meets client needs, oversee preparation of and deliver client proposals and maintain strong relationships with key insurers.

This role offers a hybrid working opportunity, with some required office time and travel to client locations.

The Role

Work with Client Advocate to execute broking strategy for renewal and new placement s
Lead negotiations of renewal and new placements with insurance markets on behalf of clients
Contribute to new business opportunities for new clients and develops business opportunities with existing clients
Retain existing book of business and develop and strengthen client relationships
Perform research to assist Client Advocate in establishing an understanding of client's and prospect's business and industry
Understand and explain coverage terms to clients and prospective clients
Review and evaluate information and analytics to assess and evaluate client risks to support the placement of client risks in the market
Support Client Advocate in providing coverage and program design advice and expertise to clients; perform coverage needs and gap analysis to make recommendations regarding program improvements
Work with Client Advocate to research and evaluate all solutions (insurance and otherwise) to identify and develop optimum risk solutions for clients
Develop, review and deliver presentations to clients and prospective clients
Contribute to thought leadership and continuous process improvement of the Broking function
Participate in program peer reviews, where applicable
Contribute to product and service innovations
Mentor and coach junior team members
Maintains business relationships with clients and underwriters
Maintain insurance market intelligence and share with the FIPS and FINEX teams
Participate in I&D activities and/or initiatives
Adhere to compliance procedures and processes
Record and maintain all information accurately on the appropriate systems
Work closely with associates from other departments that support the broking process (e.g., analytics, claims)
Provide strategic planning and consulting advice to clients; monitors insurance and risk management needs in collaboration with other WTW resources and practices. Recommends appropriate solutions throughout the policy term (including acquisition due diligence)

The Requirements

Bachelor's degree or equivalent
5+ years insurance industry or equivalent work experience
Ontario RIBO license will be required. If not currently licensed, ability to obtain one within 90 days of employment
Negotiation skills (insurer and client); ability to maintain renewal book of business
Business Acumen: demonstrates basic knowledge/understanding of insurance business.
Project Management: ability to execute assigned tasks in timely fashion
Leadership skills: ability to make decisions and support them; ability to take control of own work; ability to seek guidance and coordinate with others when needed
Insurance Technical skills; demonstrates knowledge of core insurance principles; Understands coverage forms and principles
Strong technology acumen ability to utilize technologybased record management systems: advanced MS Office skills and familiarity with other relevant online tools
Selfstarter/requires mínimal supervision, ability to execute assigned tasks in timely fashion
Collaborates in office, and works remotely if/when desired
Ability to interface with clients and collaborate internally with teammates to serve clients
Seeks guidance when needed, and receptive to direction and feedback
Good presentation skills written and oral
Good listening skills Travel may be required
Equal Opportunity Employer/Vet/Disability_