Senior Broker (Facultative) at AON

About the Role 

As a Senior Broker some of your key responsibilities will include:

• Act as the primary point of contact within the broking team for specific clients (assigned to the Broker) to provide specialist advice to the client and client team.
• Act as the primary point of contact within the broking team for specific clients (assigned to the Broker) to provide specialist advice to the client and client team.
• Assist the Senior Brokers and/ or Executive Head with servicing their portfolio of clients.
• Responsible for providing advice to clients and colleagues on placement design, available coverage and capacity, likely pricing, potential coverage enhancements and market progress within scope of responsibility.
• Work in partnership with the client team to ensure client needs and expectations are met.
• Contribute to on-going client satisfaction, retention and profitability.
• Analyse clients' reinsurance requirements, collect and analyse relevant information to identify risk transfer solutions.
• Provide advice to clients and colleagues on the scope of coverage available for different products to establish the appropriate product that meets the clients' reinsurance requirements.
• Review and quality check reinsurance documentation at a pre-determined stage in the process (in line with Aon Compliance and Audit requirements and SOP’s) to establish whether the selected product accurately reflects clients' reinsurance requirements.
• Responsible for negotiating the best prices and capacity using knowledge, expertise and market presence for desired cover where appropriate.
• Ensure a full technical and quality check has been completed on all work in line with Aon Facultative procedures and internal compliance and Audit requirements.
• Liaise with colleagues on any issues arising.
• Work collaboratively with colleagues on every account or portfolio of accounts, to ensure that relevant information is shared among appropriate individuals and required actions are taken to meet clients' needs.
• Identify appropriate channels for risk placement based on clients' and Aon’s market security guidelines and other requirements prior to placement.
• Negotiate terms and conditions of placement with lead underwriters, obtain quotes, and handle underwriter queries and requests for information.
• Ensure complete placement by negotiating with support underwriters, handle underwriter queries and requests for information.
• Create, maintain and manage long-term business relationships with underwriters to enhance service delivery, establish new opportunities for risk placement or facilitate the settlement and payment of claims.
• Overall responsibility for ensuring all placements (assigned to the broker) are carried out in line with Aon Compliance and Audits requirements
• Responsible for delivery of formal Client confirmation of cover (EOC) with included TOBA stating limitation of Liability
• Support the effective delivery of global service through network relationships, where appropriate.
• Provide advice to clients and colleagues on market developments and share knowledge of market trends to enhance the overall value proposition.
• Negotiate bespoke or manuscript wordings with underwriters for individual accounts.
• Negotiate or assist in negotiation of terms and conditions for a facility with underwriters, including the negotiation of facility wordings.
• Responsible for formulating a coherent client, market and remuneration (all non-standard remuneration to be approved by CEO or COO) strategy.
• Contribute in supporting business development initiatives, as directed.
• Being responsible for the review of market submissions and presentations in line with Aon compliance and Audit requirements for new business and as well as renewals to ensure that it effectively sell the client's risk to the market
• Ensuring appropriate employees are aware of all underwriting subjectivities
• Reviewing status ensuring warranties are met
• Working with markets to create entrepreneurial solutions to meet Client needs
• Providing on the job training to Trainee Brokers
• Being esponsible for engaging in business development and/or contributing directly or indirectly to all business development efforts in Aon South Africa.

Role-specific Technical Skills, Knowledge and Experience

Qualifications.

• Grade 12 (matric).
• An appropriate NQF level 4 FAIS /short-term insurance qualification.
• Preferably a relevant bachelor’s degree in insurance and risk management.
• First level regulatory examination for representatives.

Knowledge.

• Sound business know-how and financial acumen.
• Solid understanding of the reinsurance environment.
• Solid knowledge of broking/insurance/underwriting in the reinsurance treaty environment.
• Solid knowledge of clients’ needs in the reinsurance market.
• Solid knowledge of and technical competence in mining and power risks (CAR, assets).

Skills and Attributes.

• Excellent marketing and sales skills.
• Well-developed analytical technical and problem-solving skills.
• Well-developed communication skills. (Verbal and written).
• Excellent industry networking skills.
• Well-developed influencing and negotiation skills.
• Well-developed interpersonal skills.
• Proven ability to work with and in teams.
• Computer literacy with advanced experience in MS Word and Excel.
• Well-developed business and financial skills and acumen.

Experience.

• Have a minimum of 3 to 5 years’ experience in broking/insurance/underwriting/reinsurance environment.