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For Companies At a Glance
- Tasks: Engage with clients in natural resources, manage reinsurance placements, and provide market insights.
- Company: WTW is a diverse and inclusive company committed to empowering its workforce.
- Benefits: Enjoy a collaborative culture, professional development opportunities, and flexible working arrangements.
- Why this job: Join a dynamic team making an impact in the natural resources sector while building valuable relationships.
- Qualifications: Experience in reinsurance or insurance broking, preferably in natural resources; degree in Business or related field.
- Other info: Equal opportunity employer; adjustments available for applicants throughout the hiring process.
The predicted salary is between 43200 - 72000 £ per year.
At WTW, we believe difference makes us stronger. We want our workforce to reflect the different and varied markets we operate in and to build a culture of inclusivity that makes colleagues feel welcome, valued and empowered to bring their whole selves to work every day. We are an equal opportunity employer committed to fostering an inclusive work environment throughout our organisation. We embrace all types of diversity.
The Role
- Client Engagement and Relationship Management: Build and maintain successful relationships with clients in the natural resources sector. Act as the primary point of contact for clients and stakeholders, providing expert advice on reinsurance matters. Understand client needs and provide strategic solutions for facultative placements.
- Facultative Reinsurance Placements: Lead the process of facultative reinsurance placements for clients in the natural resources sector. Negotiate terms and conditions with underwriters to ensure optimal coverage and pricing. Coordinate with internal teams, including underwriting and claims, to ensure effective execution of placements.
- Market Intelligence and Analysis: Stay updated on market trends, developments, and competitor activity within the natural resources sector and the wider insurance market. Provide market insights and advice to clients to support their reinsurance decision-making processes.
- Contract Review and Documentation: Oversee the preparation and review of reinsurance contracts and documentation. Ensure compliance with regulatory requirements and internal processes.
- Collaboration with Internal Teams: Work closely with the Natural Resources team and other departments within WTW, such as Risk Management, Actuarial, and Claims, to deliver integrated solutions. Provide support to junior brokers and help foster a collaborative and knowledge-sharing environment.
- Client Reporting and Presentations: Prepare and deliver client presentations and reports that highlight key insights, risks, and opportunities. Monitor and track the performance of placements and provide regular updates to clients.
Qualifications
- Experience: Experience in reinsurance or insurance broking, preferably within the natural resources or energy sectors. In-depth knowledge of facultative reinsurance placements, underwriting processes, and the natural resources market. Experience working with a variety of reinsurance products and structures.
- Skills: Excellent negotiation and communication skills, with the ability to build relationships with clients, underwriters, and other stakeholders. Excellent analytical and problem-solving skills, with a keen eye for detail. Proven ability to manage multiple clients and complex projects simultaneously. Proficiency in Microsoft Office Suite and reinsurance software tools.
- Education: Bachelor’s degree in Business, Finance, Economics, or a related field. Professional qualifications such as ACII (Associate of the Chartered Insurance Institute) or equivalent are advantageous.
The Application Process
- Stage 1: Online application and recruiter review
- Stage 2: Recruiter Screening Call
- Stage 3: 1st Round Interviews – Competency format.
- Stage 4: 2nd Round Interviews – Competency format.
- Stage 5: Offer and onboarding
We’re committed to equal employment opportunity and provide application, interview and workplace adjustments and accommodations to all applicants. If you foresee any barriers, from the application process through to joining WTW, please email candidate.helpdesk@willistowerswatson.com.
Facultative Broker - Natural Resources employer: Willis Towers Watson
Contact Detail:
Willis Towers Watson Recruiting Team
candidate.helpdesk@willistowerswatson.com
StudySmarter Expert Advice 🤫
We think this is how you could land Facultative Broker - Natural Resources
✨Tip Number 1
Familiarise yourself with the natural resources sector and current market trends. This knowledge will not only help you in interviews but also demonstrate your genuine interest in the role and the industry.
✨Tip Number 2
Network with professionals in the reinsurance and natural resources sectors. Attend industry events or join relevant online forums to connect with potential colleagues and gain insights that could be beneficial during your application process.
✨Tip Number 3
Prepare for competency-based interviews by reflecting on your past experiences. Think of specific examples where you've successfully managed client relationships or negotiated terms, as these will be key areas of focus during the interview stages.
✨Tip Number 4
Showcase your analytical skills by being ready to discuss how you've used data to inform decisions in previous roles. Being able to articulate your thought process will set you apart from other candidates.
We think you need these skills to ace Facultative Broker - Natural Resources
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and qualifications required for the Facultative Broker position. Tailor your application to highlight relevant experience in reinsurance or insurance broking, especially within the natural resources sector.
Craft a Strong CV: Your CV should clearly outline your experience, skills, and education related to the role. Emphasise your negotiation and communication skills, as well as any relevant professional qualifications like ACII. Use bullet points for clarity and ensure it is well-structured.
Write a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Highlight specific experiences that demonstrate your ability to build client relationships and manage complex projects. Make sure to align your values with WTW's commitment to inclusivity and diversity.
Prepare for Interviews: If selected for an interview, prepare by reviewing common competency-based questions. Be ready to discuss your previous experiences in detail, particularly those that showcase your analytical skills and ability to provide strategic solutions in the reinsurance field.
How to prepare for a job interview at Willis Towers Watson
✨Understand the Role
Before your interview, make sure you thoroughly understand the responsibilities of a Facultative Broker in the natural resources sector. Familiarise yourself with key terms like facultative reinsurance placements and client engagement strategies to demonstrate your knowledge.
✨Showcase Your Experience
Be prepared to discuss your previous experience in reinsurance or insurance broking, especially within the natural resources or energy sectors. Highlight specific examples where you've successfully managed client relationships or negotiated terms with underwriters.
✨Demonstrate Analytical Skills
Since the role requires excellent analytical and problem-solving skills, be ready to provide examples of how you've used these skills in past roles. Discuss any market intelligence or analysis you've conducted that has informed your decision-making.
✨Prepare for Competency Questions
As the interview format is competency-based, prepare for questions that assess your negotiation skills, ability to manage multiple clients, and collaboration with internal teams. Use the STAR method (Situation, Task, Action, Result) to structure your responses effectively.
