Title: Senior Facultative Broker
Dubai, DU, AE
Role: Senior Facultative Broker
Location: Dubai
Overall objective:
Supporting the reinsurance team in facultative reinsurance acquisition and placements while qualifying and analysing cedant data through actuarial assessments to build a business case to reinsurance markets and build interest and confidence in acquiring risks.
Responsibilities:
Lines of Business: All Non-Life lines of business (mainly Property and Casualty)
FAC Acquisition
- Lead communications with potential cedant in acquiring their FAC risks
- Support the FAC team in developing slip wording when and where required.
- Support the FAC team in the development of FAC slips templates sizing for the various risks to be offered to reinsurance markets.
- Lead and develop communication channels with reinsurance markets where needed.
- Develop new Reinsurance market’s leads.
Reporting
- Update and release periodic (monthly/quarterly/yearly) FAC acquisition reports.
- Recommend risk premium developments across various portfolios for continuous profitability.
- Support the RI Financial team in booking, Debit Notes production, etc when and where needed.
Competencies for the Role:
- Team orientation
Work cooperatively and flexibly with other members of the team with a full understanding of the role to be played as a team member.
- Communication
Communicate clearly, fairly and in a non-misleading manner, both orally and in writing.
- Achievement/results-orientation
Get things done well and the ability to set and meet challenging goals, create own measures of excellence and constantly seek ways of improving performance.
- Problem-solving
Analyse situations, diagnose problems, identify the key issues, establish and weigh up alternative courses of action and produce a logical, practical and acceptable solution.
- Flexibility
Adapt and work effectively in different situations and to carry out a variety of tasks.
- Customer focus
Take constant care in looking after the interests of external and internal customers. Ensure that their wants, needs and expectations are given due consideration and that all efforts are made to meet them wherever fair and reasonable, in line with any standards from an industry regulator.
- Planning and prioritising
The ability to decide on courses of action, ensure that the necessary resources are available and schedule the work required to achieve a defined result in a desirable manner.
- Share knowledge
Share knowledge about the role you perform fully and willingly with others, where this is relevant, in the interests of the organisation.
- Self-development
Take responsibility for your own career and actively support ‘continuing professional development’.
- Commercial/business awareness
The capacity to understand the business opportunities and priorities of the organisation and constantly seek methods of ensuring that the organisation continues to be business-like and continues to meet the standards and requirements of its regulators.
- Leadership
Inspire individuals to give of their best in order to achieve a desired result and to maintain effective relationships with individuals and the team as a whole.
Education and Professional Qualifications Required / Preferred:
- Minimum bachelor’s degree in It, mathematics or any other relevant field (optional)
- Minimum of 7 years’ experience in FAC placement in an insurance/reinsurance/reinsurance broker company.
- Previous supervisor or manager position in a renowned Insurance level with financial target.
- Good knowledge of insurance legislation across the GCC and MEA region. (optional)
Personal Skills
- Good interpersonal and communication skills.
- Objective oriented personality
- Execution skills / Conflict Resolution / and Analytical skills
- Ability to operate effectively with people at all levels of the business.
- Excellent command of the English language.
IT Skills:
- Office 365 (MS teams, MS Power Point, MS Excel, MS Word, sharepoint,yammer)
- Any Financial Package software used by the organization
- MS Outlook
- MS Project