Broker (Rochester)

ICAT in Rochester, NY

  • Industry: Financial Services - Banking/Investment/Finance - Securities Broker
  • Type: Full Time
  • $129,315.00 - 194,360.00
position filled

Location: New York , New York , United States

Broker I is responsible for supporting the broking placement process and execution of the clients go to market strategy The Broker I coordinates his or her efforts with the senior broking team for the account in order that the transaction is aligned with the overall engagement. Broker I coordinates the Technical Assistants and/or Associate Brokers responsibilities with respect to creating the underwriting submission and managing the flow of information during the placement process.

Responsibilities Include:

  • Update management on issues, progress, etc, regularly and upon request.
  • Assist senior brokers with complex analysis
  • Provide thorough review of contract documentation to ensure contract drafter has accurately captured terms and conditions for negotiation and finalization
  • Monitor follow-up on contract documentation, ensuring the timely flow of materials
  • Maintain comprehensive knowledge of reinsurer capabilities (product lines, capacity, approvals, etc), with the help of Market Information Department, Legal Department, and other departments as needed.
  • Develop deeper functional knowledge in capability areas
  • Understand all best practice procedures and compliance policies.
  • Follow all best practice procedures and compliance requirements, including but not limited to building a complete placement file as the placement progresses to minimize errors & omissions.
  • Obtain the most appropriate market placements and services for assigned accounts based on senior brokers assessment of client needs.
  • Respond to client queries and concerns, resolving issues promptly.
  • Assist with the design of new programs and recommendations for clients needs, placing business with client-approved reinsurers.
  • Assist in responding to client request for information (reinsurer financial reports, industry issues, etc), coordinating with Market Information and other departments as necessary.
  • Establish and maintain strong relationships with reinsurers, clients, colleagues at Guy Carpenter.

Qualifications:

  • Bachelors Degree is required.
  • 5 years related experience.
  • Thorough knowledge of insurance/reinsurance concepts and terms for developing and placing reinsurance programs, preparing placement slips and cover notes and drafting or amending new and existing contracts.
  • Interpersonal skills for establishing and maintaining good client, reinsurer and internal relationships.
  • Solidverbal and writing skills for complex communications (presentations, negotiations, etc.) with clients, markets and GC colleagues at many levels.
  • Good ability to prioritize workload according to volume, urgency, etc andfind creative solutions to new problems, as they arise.

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Associated topics: bond, broker, broker dealer, brokerage, capital, fiduciary, fund, market, securities broker, stock

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