At a Glance
- Tasks: Manage and consult on a portfolio of SME group risk clients while delivering top-notch client service.
- Company: Join Foster Denovo, a leading financial advisory firm with a supportive culture.
- Benefits: Enjoy 25 days holiday, discretionary bonuses, and a generous pension match.
- Other info: Dynamic work environment with opportunities for professional growth and development.
- Why this job: Be the go-to contact for clients and make a real impact in their financial journey.
- Qualifications: 3+ years in brokerage or insurance with a solid grasp of group risk products.
The predicted salary is between 39600 - 48400 £ per year.
Purpose of the job: To manage and consult on a portfolio of SME group risk clients, typically below £1,500 income per client, while carrying out the associated end-to-end administration and delivering high-quality client service.
Job summary: Reporting directly to the Lead Partner (SME Risk), the role holder will act as the lead relationship contact for their own portfolio of SME clients, ensuring the associated scheme administration, renewals, market reviews and ongoing client queries are managed effectively. The role is hybrid between the SME Risk support and consulting teams, combining client-facing consultancy responsibilities with end-to-end administration. The role holder will work closely with insurers to deliver accurate, compliant and high-quality client service, while also supporting the implementation of new SME risk business once won and developing into a more technical consulting role.
Key skills and personal attributes:
- 3+ years’ previous experience working for a broker or insurer.
- Good understanding of the group risk market and products (including group life assurance, income protection and critical illness cover).
- Excellent understanding of market review and renewal processes.
- Ability to manage multiple client portfolios, renewals, projects and deadlines effectively.
- Previous experience attending client meetings.
Responsibilities include:
- Act as the lead relationship contact for a SME client portfolio, focused on clients below the agreed income threshold of around £1,500.
- Manage a portfolio of group protection schemes including:
- Conducting Fact Find/ initial advice calls
- Preparing quote specifications, reviewing quotations, negotiating with insurers and preparing review/renewal reports
- Conducting telephone advice meetings with clients.
- Carry out annual renewals and market reviews, ensuring these are proactively conducted within appropriate timescales.
- Be the first point of contact for client and provider queries.
- Manage the end-to-end administration process for clients.
- Ensure client engagement letters/contracts and AML records are kept up to date, accurate and in place.
- Support senior members of the consulting team on new business once it has been won, including setting up new policies.
- Support and coordinate the claims process for clients, liaising with insurers and HR teams as required.
- Manage and prepare client data for reports or provider submissions, including membership data.
- Check and issue accounts as part of renewal and market review activity.
About us: Foster Denovo currently boast over 120 Financial Advisers supported by around 300 employees across eight Foster Denovo offices throughout the UK. We have the scale and resource to provide exceptional advice and service to our clients, advisers and employees. Our stakeholder community is an invisible bond that gives Foster Denovo its solid foundations. It also means that our people care about our reputation and brand. And as such, we aim to delight every client we come into contact with.
When you join the Foster Denovo family, you benefit from our enviable reputation and years of industry experience. In everything we do, we’re driven by a firm set of core values, and our friendly, stakeholder culture has been praised by employees, clients and partners alike. Foster Denovo are also proud to hold the platinum investors in people accreditation which shows a clear commitment to the people who make us an employer of choice.
What we offer you: Foster Denovo has an open, mutually supportive, knowledge-sharing culture. It’s a culture that has created the space to think differently for the benefit of our clients. Our benefits package includes:
- 25 days holiday (increasing by an additional day per annum up to 30 days)
- Discretionary bonus
- Foster Denovo will match your personal pension contribution up to a maximum of 7.5%
- Life assurance of up to 4 x your salary;
- Income protection of 75% of your basic salary in the event of long term sickness
- Employees can use our financial advisers within the company for any financial advice or knowledge
- Interest free season tickets loans, eye care and childcare vouchers.
- Shopping discounts benefits portal (discounts on holiday, gym and high street retailers)
Account Manager - SME Risk employer: Foster Denovo
Foster Denovo is an exceptional employer that prioritises employee development and well-being, offering a supportive environment where you can thrive as a Client Experience Administrator. With a strong commitment to career progression, including pathways to becoming an adviser, and a comprehensive benefits package that includes generous holiday allowances and financial support, you will find meaningful opportunities for growth in our collaborative culture. Our platinum investors in people accreditation reflects our dedication to nurturing talent and ensuring a rewarding experience for all employees.
StudySmarter Expert Advice🤫
We think this is how you could land Account Manager - SME Risk
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
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✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Foster Denovo. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Account Manager - SME Risk
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Foster Denovo.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Foster Denovo. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Foster Denovo
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Foster Denovo to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Foster Denovo, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Foster Denovo's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
