As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.
Job Description
We are looking to recruit a VP, Senior Broker to join us!
You will be responsible for facilitating new and renewal business for Sompo Broker Services on behalf Sompo UK underwriting staff as a wholesale broker in accordance with the business plan. Develop and manage the structure of a wholesale broking entity to act as internal conduit between external retail brokers and the company’s Lloyd’s Syndicate to facilitate reductions in commissions. Play a pivotal role for designated lines of business developing business relationships and managing the end-to-end placement of assigned contracts including performing data and analysis, producing presentation materials, and completing broking documentation. Liaise with Underwriting and Claims to resolve queries. It will be expected to contribute to the development of evaluating business opportunities, risks and exposures, pricing structures, rates, terms and conditions.
Our Sompo Values are expected to be reflected in the delivery and performance of every role
Key Accountabilities
• Inputs to and translates organisational vision and Divisional/Functional strategy into operational deliverables and provides tactical leadership and support to managers to achieve positive results for the business in line with strategy
• Drives business performance through others facilitating effective planning, control and support mechanisms to ensure delivery of the business plan in line with market and shareholder expectations
• Contributes to, monitors and advises on the plan developments and changes in order to ensure relevancy, compliance and optimal delivery
• Determines own work priorities and activities in line with agreed plans to ensure the achievement of the function’s objectives
• Applies specific expertise to manage processes and workflow within the team, and is responsible for ensuring accuracy, efficiency, good practice and adherence to prescribed standards
• As a technical expert, is responsible for executing higher value/more complex transactions (making decisions within authority limits) to ensure that they are appropriately completed and that related records and systems are properly maintained
• Interprets, and helps to cascade organisation goals and regulatory/legislative requirements; and is responsible for monitoring functional activity, and application of Policy and Procedures, to ensure that compliance, effectiveness and risk management is optimised
• Supports the senior underwriting team with the review and analysis of the portfolio/functional performance to identify and influence progress towards business objectives
• Supports the senior underwriting team in the production of management information reports, to enable effective monitoring of underwriting activity.
• Acts as a technical expert to support the identification of issues and opportunities within area of expertise.
• Understands and contributes to management and peer review processes to encourage and develop excellence
• Maintains expertise and team knowledge through identifying and suggesting appropriate learning and development activities
Knowledge, Skills and experience
• Extensive and relevant knowledge of the London and Lloyds insurance market dynamics and core processes in appropriate product line(s)
• Broad experience of working in a broker or insurer
• Has established relationships that are relevant to their role / product line
• Specific subject matter expertise and knowledge of compliance and FCA regulation
• Understands, and anticipates how relevant market conditions impact upon their own specific class of business /portfolio
• Technical understanding of class specific underwriting and reinsurance parameters and delegated authorities; including relevant business goals/targets - and how this role contributes to overall performance
• Working knowledge of risk profiling, pricing tools and loss models and how to apply these to their role
• Specific subject matter expertise and knowledge of legal and regulatory requirements (specific reference to FCA/Lloyds regulation)
• Degree level education (or equivalent) (And relevance of degree subject to role) is preferred.
• May hold ACII (or equivalent) qualified or has made progress towards completion of insurance qualifications
• They will have completed the Lloyds & London Market test (where relevant)
