Job Title: Associate Broker
Team/Dept.: Broking Team
Location: Minneapolis
Position Overview:
Responsible for providing assigned internal and external clients and prospects with outstanding service to allow BMS Re to create, administer, and service the best and most efficient reinsurance programs and additional services to meet the client’s needs.
Essential Responsibilities:
- Assist in managing clients’ accounts or portions of clients’ accounts (i.e., handle underwriting preparation, perform fact-finding procedures, may have some client interface, and assist with placement with reinsurers, etc.)
- Help prepare reinsurance submissions/underwriting narratives with direction from client relationship manager; review large data sets, and with the help of other brokers, analyze, and look for trends to organize submissions and provide the best possible output to clients
- Ensure compliance with BMS quality standards before, during, and after placement process; responsible for quality control of all work produced on assigned accounts and proper Hub filling
- Accurately prepare memos and letters to reinsurers/clients for their signature, as well as other required signatures
- Assist with the preparation and finalization of contract wording, working closely with the Contract Wordings team and client relationship manager; accountable for verifying that all Slips/Cover Notes or Summary of Terms and Contract Wordings have been fully executed
- At the completion of placements, assist in the drafting of Post-Placement Memos, Brokerage Estimate Exhibits and Market Sheets for final sign-off of client relationship manager
- Prepare experience exhibits throughout the year with assistance from the Accounting and Claims team
- Maintain files - Complete necessary forms; document conversations via telephone, e-mail, or other electronic means; perform copy work for files, keep files up to date, etc.
- Perform special projects and other miscellaneous duties as assigned by the client relationship manager or others
Required Education, Experience and Skills:
- BS/BA degree from an accredited college or university
- Capability to learn about and comprehend information about insurance and reinsurance products with the ability to appropriately apply knowledge while performing day-to-day responsibilities
- Ability and willingness to build effective and constructive relationships with external clients and contacts
- Accountable to build and maintain effective teamwork, communication and interpersonal relationships with all BMS team members
- Ability to effectively and efficiently organize and analyze large amounts of data
- Ability to view situations from the perspective of the client in order to anticipate and meet the client’s needs
- Excellent written and verbal communication skills
- Proactive in demonstrating use of own initiative
- Strong organization and time management abilities; accurately scopes out length and difficulty of tasks and projects; sets objectives and goals to meet deadlines; uses proper channels and resources
- Basic knowledge of how strategies and tactics work in insurance and reinsurance; knowledgeable in current and possible future policies, practices, trends, technology, and information affecting the insurance and reinsurance markets and clients
- Strong ability to effectively use the Microsoft suite of products, particularly Excel
- Ability to learn quickly and effectively incorporate new concepts and practices; flexible and open to change
- Ability to see the big picture and apply everyday knowledge and experience to making BMS successful
- High level of accuracy and attention to detail
- Personally demonstrate the five BMS values and ensure that team members are aligned with these:
- We put clients first
- We work as one
- We find a way
- We sweat the details
- We take ownership
What’s in it for me?
This is a permanent role, offering a competitive salary and bonus plus access to our personalised benefits platform, Your Rewards, including:
- Medical insurance
- Vision insurance
- Dental insurance, 401(k)
Through our Diversity, Equity and Inclusion (DEI) vision, we are committed to ‘building a culture of belonging for all, valuing diverse perspectives and embracing authenticity.’ As such, we have created our ‘BMS Together’ programme, with dedicated training, collaborative committees and intentional partnerships. In support of our ESG vision, we offer two additional paid days each year to take part in charitable work.
