Reinsurance Broking Lead Specialist – Transactional Services

Role Overview

Reinsurance Broking Lead Specialist – Transactional Services at Marsh, based in Riyadh, Saudi Arabia. This hybrid role requires at least three days per week in the office.

Company Overview

Marsh 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.

Role Purpose

Lead the end-to-end lifecycle of reinsurance broking transactional services. Establish yourself as a technical subject matter expert and single point of contact for all technical escalations and process improvements. Drive change management initiatives as teams undergo system and process migration.

Key Responsibilities

Leadership & Mentoring

• Lead and participate in knowledge sharing forums across onshore and offshore locations
• Mentor and train team members to grow technically and professionally within the organization
• Act as a mentor and coach to develop team colleagues and build commitment towards team, department and organizational goals
• Consistently provide guidance by mentoring and training colleagues

Technical Operations & Processing

• Manage assigned client portfolio including transactional processing, follow-up and securing reinsurance recoveries
• Ensure timely and accurate system entry of all assigned client activity
• Assess and submit client and reinsurer presentation materials and communications to resolve questions and secure reinsurer agreement and payment of claims and account balances
• Manage settlement of funds to and from clients in a timely manner, ensuring all applicable payment warranties and conditions are met
• Take ownership of the end-to-end settlement process
• Collaborate with peers on complex or contentious reinsurance developments
• Provide insights into complex technical jargon and clarify procedures

Process Improvement & System Management

• Participate in System Release Testing including Enhancement, Regression and report bugs
• Identify and implement process improvement opportunities
• Lead discussions and build relationships with Clients, Re-insurers, Business units and Placing brokers
• Network with external groups to increase knowledge of the technical area

Compliance & Risk Management

• Ensure compliance adherence to internal and external regulator guidelines
• Participate in Internal and External audits at Team Level and ensure team adherence to various compliance mandates
• Interact with other company areas (Compliance, Finance, etc.) on sensitive topics
• Work with Fiduciary and/or collections to assist collection of funds

Qualifications & Experience

• Saudi national only
• Bachelor's degree (Commerce preferable)
• 3–5 years of experience in reinsurance broking in the operations area
• Demonstrated knowledge of technical and functional insurance and reinsurance concepts, terms and contract clauses
• Basic knowledge of market practices within technical domain areas
• In-depth knowledge of reinsurance concepts, market systems, general business trends, financial and regulatory impacts on the organization
• Should have undertaken responsibility for coaching and mentoring technical experts

Skills & Competencies

• Technical aptitude and analytical skills with ability to acquire subject matter expertise on existing and new processes
• Proficiency in Microsoft Office Applications (Word, Excel, PowerPoint)
• Ability to engage, influence and negotiate with Clients, Markets and Colleagues in a professional manner
• Strong ability to manage workload considering varying demands and manage expectations of all Customers and Stakeholders
• Ability to multi-task and prioritize time effectively
• Positive attitude and willingness to offer and execute ideas and solutions to enhance processes within a changing environment
• Proven track record with delivery of change, including process and people impacts and process improvement to enhance service provision
• Well-read and updated on recent developments and happenings impacting the business
• Good relationship skills, proven ability to work on own initiative as well as in a team
• Adaptable communicator, facilitator, influencer and problem solver
• Act as a role model by example, attitude and displaying of consistent behavior committed to a 'can do' culture
• Know-how of markets, legislations, regulators and procedures governing the business
• Understanding of RPA and various process enhancement tools (preferred)

Additional Information

Work Arrangement

• Hybrid role requiring at least three days per week in the office
• Office-based teams will identify at least one "anchor day" per week on which the full team will be together in person

Professional Development & Culture

• Professional development opportunities through interesting work and supportive leaders
• Vibrant and inclusive culture with talented colleagues creating new solutions
• Career opportunities, benefits and rewards to enhance well-being
• Commitment to diverse, inclusive and flexible work environment

Certifications & Development

• CII certification (preferred)
• Post-Graduation or Certificate Courses in Insurance (preferred)

First 90 Days Expectations

• Within 30 days: gain in-depth knowledge of the service and understand role requirements
• Within 60 days: attain competency and have good understanding of process and systems
• Within 90 days: technically lead the team and serve as single point of contact for all technical escalations and process improvements