Senior Broker, Financial Institutions & Professional Services Industry Division

The Senior 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 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 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 Senior Client Advocates and Strategic Client Engagement Leaders to execute broking strategy for renewal and new placements
• 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 Senior Client Advocates and Strategic Client Engagement Leaders 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 Senior 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 Senior 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 (., 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)