The Risk Analyst is responsible for developing the functional skills required to coordinate all broking placement activities of the account. The Risk Analyst provides support to all account team members and contributes to strategic recommendations and problem solving for clients. The Risk Analyst should develop a broad understanding of the environment in which the insured operates, and the marketplace in which the transactions Guy Carpenter handles take place. The Risk Analyst will assist in the broking team with client and market research and financial analysis for current and prospective clients. The Risk Analyst will be responsible for communicating particulars for the account internally, including the clients budgeted revenue to management and details about the placement to GC Specialties for inclusion in market and peer studies.
ESSENTIAL JOB RESPONSIBILITIES
Broker Support
Data collection and analysis in building reinsurance submission for client assignments
Assist in renewing reinsurance programs. Provide brokers with research analysis as needed.
Update Brokers on issues, progress etc, regularly and upon request
Assist in responding to client queries and concerns, resolving issues promptly
Assist in monitoring accountings, (premium payments, loss collections, etc) anticipating and preventing problems when possible
Assist with broker review on contract documentation, ensuring contract drafter has accurately captured terms and conditions of placement
Assist in timely production of contract documentation and follow-up, ensuring timely flow of materials
Assist with scheduling of reinsurer audits and visits with client
Learn Business
Maintain comprehensive knowledge of reinsurer capabilities (product lines, capacity, approvals, etc) with the help of Market Information Department and Market Reference Guide
Analyze client risk and develop and present recommendations
Develop broking and functional skills
Best Practice Procedures and Compliance Policies
Understand all best practice procedures and compliance policies. When new procedures are provided, understand and adopt new procedures as rolled out, take required training and speak up with any question or concerns uncovered in your role at Guy Carpenter.
Follow all best practice procedures and compliance requirements, including but not limited to building a complete placement file as the placement progresses to minimize errors & omissions.
Client Services
Assist broking team in designing new programs for clients’ unmet needs
Respond to client requests for information (reinsurer, financial reports, industry issues, etc), as directed by senior broker, coordinating with Market Information and other departments as necessary, and clearing with senior broker.
QUALIFICATIONS
Bachelor’s Degree is required
Relevant work experience is a plus
Strong interpersonal skills for establishing and maintain good client, reinsurer, and internal relationships
Good ability to organize and pay attention to detail
Good verbal and writing skills for complex communications with clients, markets and Guy Carpenter colleagues at many levels
Good ability to prioritize workload according to volume, urgency, etc
Strong academic record in major and summer internship or other work experience
Good problem solving skills and financial aptitude
General knowledge of business principle and industry trends
Good computer skills using Microsoft Office (Excel, Word, PowerPoint) and Lotus Notes
Similar to an investment bank, we broker a specific type of financial transaction called reinsurance.
Reinsurance is a risk transfer agreement that is often referred to as “insurance for insurance companies.”
As an intermediary, we do not assume any of the risk transferred in a reinsurance agreement.
Similar to a consulting firm, we leverage our reinsurance expertise to help our clients anticipate and
navigate change, providing them with a business edge that goes beyond the reinsurance transaction.
