Assistant Director, Facultative

Job Description

• To support and work closely with Executive Director, Facultative to manage and grow the Facultative portfolios, including production and placement activities into the international markets.
• To identify and act upon new business opportunities on a wholesale and facultative basis which promote the profitable development of the business.
• To participate in the development of the Facultative reinsurance business in line with Company's plans and targets.
• To facilitate the prompt placement of Facultative reinsurance contracts in accordance with the client’s requirements and needs, in a timely manner in accordance with regulatory requirements acting in the best interest of the client and the company at all times.
• To provide a quality service to clients covering all aspects of their reinsurance arrangements; to advise, arrange and secure the appropriate cover at a competitive premium.
• To assume responsibility for:

1. The renewal business portfolio
2. New business production
3. The marketing & placement of risks
4. Client Servicing

Job Requirements

• The leadership and management of reinsurance intermediation for the team including business production, risk placing, and client servicing and associated functions.
• To meet the financial and operational targets set by the Department.
• To promote effective and regular communication within the Department and with other Departments.
• To promote and ensure compliance with the Company’s Rules and Procedures and other management instructions, in particular with regard to:

- the conduct and recording of business

- confirmations and evidencing of cover

- recording and filing of all communications and discussions

- the safeguarding of client monies

- the escalation and reporting of breaches, errors & omissions, disputes and complaints

• Support the liaison with other departments to ensure that a co-ordinated approach is adopted on matters with cross-company impact.
• Reporting to the line manager on a timely manner to update on the performance and ensure the line manager is made aware of:

- Any matter which might expose the Company to a claim, legal action or regulatory action/investigation.

- Any serious disciplinary cases.

- Any substantial failure to comply with the external regulatory and legislative framework.

• To ensure sound business practices and an adequate and proactive risk control framework within the team.
• To ensure that Tracking is completed promptly to reflect the current status of any risk.
• To exercise judgement when reviewing proposals, either new or renewals.
• To be a Producing and Placing broker, as required.
• To ensure files are passed on to the others in accordance with Company Rules and Procedures.

Regulatory Responsibilities / Knowledge Required:

• To be familiar with the detailed regulatory obligations imposed by Monetary Authority of Singapore (MAS).
• To ensure you are trained and competent to perform your duties to the required standard and in compliance with the Monetary Authority of Singapore (MAS) regulations.
• Detailed understanding and knowledge of general insurance and underlying legal principles.
• Detailed understanding of the Company’s internal procedures and practices.

Requirements / Skills Required:

• Previous exposure to a leadership and management role(s), track record as a trusted team leader as well as a good team player.
• Ability to organize and delegate tasks effectively.
• Ability to prioritize and organize own workload to ensure that deadlines are adhered to and targets are met.
• Ability to work under pressure and to manage, lead, motivate and influence others.
• Excellent written and verbal communication skills.
• Ability to develop and sustain relationships with both internal and external parties.
• Confidence in representing the department or the company both internally and externally.
• Proficient computer skills, such as Microsoft suites, etc.