Job DescriptionThe Placement Specialist - Financial Lines Broker is the person recognized as the main contact in the marketplace to represent Willis Towers Watson and coordinate parties on all sides to meet and understand each other's agendas, appetites, and goals. The position does require travel and social interaction at industry events / meetings. The Placement Specialist Broker is responsible for all broking activity, utilizing industry expertise to enhance revenue and foster innovation.
Note: Employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity.
The Role We know how companies can unlock potential through effective risk management. Our clients rely on us to craft strategies to quantify, mitigate and transfer risk, taking advantage of our specialist industry experience and unparalleled market know-how. The result is a new way of embracing risk that drives superior results.
Brokers perform a variety of critical functions including but not limited to:
- Provide coverage and program design advice and expertise directly to clients and through Client Advocates and Producers
- Conduct pre-closing insurance due diligence for private equity sponsors, identifying material coverage deficiencies across existing programs, and structure and negotiate post-closing insurance programs
- Support Producers in new business development - provide knowledge and expertise about market dynamics, exposures and insurance solution related to private equity and alternative asset mangers' exposures
- Draft and negotiate manuscript policy language with insurance carriers and coordinate process with clients' in-house and outside counsel
- Arrange and manage underwriting meetings for both new and renewal business
- Preparation and finalization of quotes and coverage confirmations to ensure contract certainty
- Market renewal and new business opportunities and present proposals to clients
QualificationsThe Requirements - Minimum 3 years of experience in underwriting or broking financial lines insurance, preferably with focus on private equity or alternative asset managers
- Knowledge and familiarity with the overall financial lines marketplace across all segments. Prior experience with private equity, alternative assets managers, SPACs and private company financial lines insurance desired
- Experience in policy drafting and construction
- Comprehensive understanding of complex legal entity structures and exposures associated therewith
- Strong written and verbal communication and presentation skills
- Self-motivated, must have the ability to work independently
- Proficient in Excel, Word and PowerPoint
This position will remain posted for a minimum of three business days from the date posted or until sufficient/appropriate candidate slate has been identified.
Compensation and Benefits Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).
Compensation The base salary compensation range being offered for this role is $130,000.00-$175, 000.00 USD annually.
This role is also eligible for an annual short-term incentive bonus.
Company Benefits WTW provides a competitive benefit package which includes the following (eligibility requirements apply):
- Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
- Leave Benefits: Paid Holidays, Annual Paid Time Off (includes state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off (only included for Washington roles)
- Retirement Benefits: Qualified contributory pension plan (if eligible) and 401(k) plan with annual nonelective company contribution. Non-qualified retirement plans available to senior level colleagues who satisfy the plans' eligibility requirements.
At WTW, we trust you to know your work and the people, tools and environment you need to be successful. The majority of our colleagues work in a "hybrid" style, with a mix of remote, in-person and in-office interactions dependent on the needs of the team, role and clients. Our flexibility is rooted in trust and "hybrid" is not a one-size-fits-all solution.
We understand flexibility is key to supporting an inclusive and diverse workforce and so we encourage requests for all types of flexible working as well as location-based arrangements. Please speak to your recruiter to discuss more.
