Managing Director

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Company: Marsh & McLennan Companies, Inc.
Location: New York, NY

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Summary:

Oversee the production and maintenance of professional reinsurance programs for current and prospective clients: lead a small team of brokers, establish and maintain strong client and market relationships, monitor documentation and accounting, manage time and expenses for profitable results. Task and assignment lead with respect to creating the underwriting submission and managing the flow of information during the placement process. Owner of the day-to-day ceded reinsurance manager relationship for the account.

Responsibilities:

New Business Development

  • Develop and present new/renewal/prospective presentations to clients and reinsurers.
  • Produce new clients and design programs for them, establish relationships through meetings, exhibit professional skills, and entertain in order to generate revenue.

Project Management

  • Oversee the timely production of appropriate account/program documents.
  • Liaise with Guy Carpenter service departments to ensure the proper level of client service and timely flow of business process.
  • Monitor the follow-up on contract documentation, ensuring the timely flow of materials.
  • Monitor accounting (payments, collections, etc.) anticipating and preventing problems when possible.

Business Retention

  • Renew reinsurance programs, meeting with and entertaining clients as needed to learn their needs and maintain strong relationships.
  • Design new programs for clients’ needs, placing business with client approved reinsurers
  • Respond to client queries and concerns, resolving issues promptly.
  • Establish and maintain strong relationships with reinsurers, clients, colleagues.
  • Respond to client requests for information (reinsurers financial reports, industry issues, etc.) coordinating with Market Information and other departments, as necessary.

Budget Management

  • Manage expenses, time, services, etc. in order to maximize GC profits.
  • Actively participate in the revenue/budget process.

Best Practice Procedures and Compliance Policies

  • Understand all best practice procedures and compliance policies. When new procedures are provided, understand and adopt new procedures as rolled out, take required training and speak up with any question or concerns uncovered in your role at Guy Carpenter.
  • Follow all best practice procedures and compliance requirements, and ensure placement documentation is complete to minimize potential errors and omissions.

Business Knowledge

  • Maintain comprehensive knowledge of reinsurer capabilities (product lines, capacity, approvals, etc), with the help of Market Information Department, Legal Department, and other departments as necessary

Management

  • Lead a small team of brokers to ensure proper training; assign clear duties and guidelines, monitor progress and provide performance feedback; make recommendations on hiring, salary, disciplinary action, etc., in accordance with GC policies

Requirements:

Education:
Bachelor’s Degree required. Master’s Degree and/or other insurance designations such as CPCU, ARe, ARM preferred.

Experience:

10 years related experience with the ability to deal with moderately complex accounts and mid-sized generating clients.

Knowledge and skills:

  • 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.
  • Excellent interpersonal skills for establishing and maintaining good client, reinsurer and internal relationships.
  • Excellent verbal and writing skills for complex communications (presentations, negotiations, etc.) with clients, markets and GC colleagues at many levels.
  • Strong ability to prioritize workload according to volume, urgency, etc. as well as the workload of others.
  • Strong ability to find creative solutions to new problems, as they arise.
  • Strong ability to be organized and pay attention to detail.
  • Strong computer skills for using Microsoft Office (Excel, Word, PowerPoint) and Lotus Notes.
  • Strong ability to maintain compliance with professional standards, where applicable, as well as company-wide quality initiatives.
  • Strong ability to identify client needs and access and organize resources including senior management, to deliver solutions which meet or exceed client expectations.
  • Strong ability to manage complex clients and help them address issues proactively.
  • Strong ability to effectively communicate and implement strategic initiatives for the firm.
  • Strong ability to possess strong knowledge of the relevant insurer marketplace, including those that provide alternate solutions. Maintain market relationships in order to identify and facilitate placement and resolve issues.
  • Work with discipline, industry, practice to sometimes identify and always encourage new product and service developments and marketing opportunities; lend technical support to them.
  • Strong ability to share information with other functional areas to enhance performance for the firm.
  • Strong ability to act as a role model and positive example for the organization by consistently exhibiting “Core Competencies” as defined by our Driving For Performance Initiative.
  • Strong ability to express a point of view and challenge the status quo to move the organization forward.
  • Strong ability to be open and flexible to changes in the organization and marketplace.
  • Strong ability to contribute to talent recruitment and development.
  • Ability to travel (including internationally), entertain, and attend meetings, up to 70% of the time.