Reinsurance Broking Lead Specialist – Transactional Services

Company:

Marsh

Description:

Job Summary

We are seeking a talented individual to join our Operations team at Marsh. This role will be based in Riyadh, Saudi Arabia, for SAUDI NATIONALS ONLY. This is a hybrid role that has a requirement of working at least three days a week in the office.

We’re seeking a Lead Specialist – Transactional Services who will be part of the end-to-end lifecycle of Re-insurance Broking. This is a place to enhance your knowledge and leadership skills, with an immense opportunity to lead Change Management initiatives as teams are undergoing system/process migration.

Within the first 30 days, we expect you to gain in-depth knowledge of the service you would handle and understand the role requirements. Within 60 days, attain competency and have a good understanding of process and systems. Within 90 days, be able to technically lead the team and be a single point of contact for all technical escalations and process improvements. Lead discussions and build relationships with Clients / Re-insurers / Business units as well as Placing brokers.

Key Responsibilities

• Lead/Participate in knowledge sharing forums across onshore / offshore locations
• Collaborate with peers on complex or contentious reinsurance developments. Support and provide training, mentoring and guidance within the team and/or department for all aspects of reinsurance service processing
• Provide insights into complex technical jargons and clarify procedures
• Participate in System Release Testing (Enhancement, Regression, report bugs)
• Mentor and train team members to grow technically and professionally within the organization
• Management of assigned client portfolio. Duties to support client base include transactional processing, follow up and securing reinsurance recoveries, collateral and timely and accurate system entry of all assigned client activity
• Assess and submit client and/or reinsurer presentation materials and communications to resolve questions and secure reinsurer agreement and payment of claims and account balances
• Work with Fiduciary and/or collections to assist collection of funds
• Manage settlement of funds to and from client in a timely manner ensuring all applicable payment warranties and/or conditions are met and take ownership of the end to end process
• Interacts with other company areas (Compliance, Finance etc.) on sensitive topics
• Networks with external groups to increase own knowledge of the technical area
• Ensure Compliance adherence to internal and external regulators guidelines
• Participate in Internal/External audits at Team Level and ensure team adherence to various compliances mandates
• Identify & implement process improvement opportunities

Required Qualifications / Experience

• Demonstrates knowledge of technical/functional insurance and reinsurance concepts, terms and contract clauses
• SAUDI NATIONAL ONLY
• Demonstrates basic knowledge of market practices within technical domain areas
• Act as a mentor and coach to develop team colleagues; build passion and commitment towards team, department and organisational goals
• Positive attitude, willingness to offer and execute ideas and solutions to enhance processes within a changing environment
• Know-how of markets/legislations/regulators/procedures governing our business
• Technical aptitude, analytical skills and ability to acquire subject matter expertise on existing and new processes
• Well-read and updated on recent developments and happenings impacting our business
• Able to engage, influence and negotiate with Clients, Markets and Colleagues in a professional manner
• Consistently provide guidance by mentoring and/or training Colleagues
• Consistently deliver superior Client service
• Strong ability to successfully manage workload considerate to varying demands to manage expectations of all Customers and Stakeholders
• Proven track record with delivery of change, including but not limited to process and people impacts and process improvement to enhance the provision of service
• Act as a role model by example, attitude and displaying of consistent behavior committed to a ‘can do’ culture
• Graduate (Commerce preferable)
• 3-5 years of experience in Re-insurance broking in the operations area
• Should have undertaken the responsibility of coaching / mentoring technical experts
• In-depth knowledge of Reinsurance concepts, Market systems, general business trends, financial and regulatory impacts on the organization
• Proficiency in Microsoft Office Applications (Word, Excel, PowerPoint) required

Preferred Qualifications (What makes you stand out)

• CII certification
• Post-Graduation/Certificate Courses in Insurance
• Adaptable communicator, facilitator, influencer and problem solver
• Good relationship skills, proven ability to work on own initiative as well as in a team
• Ability to multi-task and prioritize time effectively
• Understanding of RPA / various process enhancement tools

Why Join Our Team

• We help you be your best through professional development opportunities, interesting work and supportive leaders
• We foster a vibrant and inclusive culture where you can work with talented colleagues to create new solutions and have impact for colleagues, clients and communities
• Our scale enables us to provide a range of career opportunities, as well as benefits and rewards to enhance your well-being

About Marsh

At Marsh business, you can be your best. We work on challenges that matter with colleagues who help bring out our best. Our uniquely collaborative environment will empower you to focus on your personal and professional success, learning from top specialists in the (re)insurance industry and leading you towards a rewarding and impactful career.

Marsh (NYSE: MRSH), is a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit our website, or follow us on LinkedIn and X.

Inclusion and Hybrid Work

Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age, background, caste, disability, ethnic origin, family duties, gender orientation or expression, gender reassignment, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law.

Marsh is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.

Marsh (NYSE: MRSH) is a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit marsh.com, or follow us on LinkedIn and X.

Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age, background, disability, ethnic origin, family duties, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, skin color, or any other characteristic protected by applicable law.

Marsh is committed to hybrid work, which includes the flexibility of working remotely and the collaboration, connections and professional development benefits of working together in the office. All Marsh colleagues are expected to be in their local office or working onsite with clients at least three days per week. Office-based teams will identify at least one “anchor day” per week on which their full team will be together in person.