Entity:
Guy Carpenter

As a part of the Guy Carpenter Client Support Services function of Marsh McLennan Global Services (MMGS) the colleague would support Fiduciary team. The role will be based in Mumbai Hiranandani office. :


What can you expect?



Becoming a part of a high performance team while leading a team of 2 to 4 Team Managers and a span of 40 to 60 reinsurance account handlers

Driving the organizational strategy to ensure continuous improvement in operations team through process, people, and quality

Taking complete ownership of end to end delivery of reinsurance fiduciary tasks

Contributing to making a positive difference in the customer service and exceeding client expectations via strong operational rigor and delivery. Also ensuring that all compliance and regulatory requirements are met and maintained as per required standards

Being bold in thinking and bringing innovative solutions to any barriers faced through the first 3-6 months, you will be actively supported by your peers to help understand the ways of working



What is in it for you?



An opportunity to lead a team of people supporting various Geographies and engagement with senior leaders on strategic discussions.

Opportunity to enhance your knowledge in Insurance/Reinsurance broking domain as well as Leadership skills.

Immense opportunity to lead Change Management initiatives as teams will be undergoing system/process migration

Leading operational delivery for the team/BU/entities assigned and provide dashboard and metrics to show trends, figures and business insight

People (team) engagement and development

Opportunity to work with global leads on various initiatives (process improvement, automation)



We will count on you for:



Core accountabilities:



Prompts issuing of statements, collection of receivable and payment of payable balances to secure the collection of outstanding fiduciary balances.

Drives personal cash processing and fiduciary targets, including the use of Key Performance Indicators (KPIs) for highly complex accounts to facilitate reporting from the CSS Dashboard and other system tools.

Manages assigned portfolio of Market/Client accounts to ensure all deadlines are met and time bound activities are addressed within defined parameters including (but not limited to) cash allocation, collections of brokerage and billings and resolution of fiduciary exposures. Assignments include accounts with moderate level of complexity.

Participates in regular dialogue and have frequent personal interaction with Market/Client contacts in order to resolve issues that are related to payment and collection and are of moderate complexity.

Provides detailed information on collection/remittance process in order to support Request for Proposal (RFP) and sales opportunities.

Leads gathering inputs for the evolution of the operational model at moderately complex levels of the organization to drive new process improvement ideas leveraging technology solutions.

Leads relationships with Brokers, Clients and Markets in order to understand issues, resolve problems and queries and review working practices.

Leads strategic team meetings and activities in order to drive sharing of opinions, ideas, knowledge and solutions and facilitates opportunities for team learning.


SLA - Monitor SLA management to ensure continuous improvement in delivering value/superior customer experience to stakeholders. Have insights on data available and create plans for achievement of annual operation goals. Ownership for timely delivery to the client either as per laid SLAs or as agreed with the client, whichever is earlier

Metrics Management Manage all the financial metrics and maintain the outstanding positions below the target levels

Stakeholder Management - Responsible for creating a rapport with onshore managers to be able to garner a long-term working relationship with them. This in turn should help the incumbent better appreciate the challenges of the stakeholder and have a view of their short medium term plans to ensure readiness in India

Provides meaningful contributions in stakeholder and client meetings with insights, presentations, and/or reports

New Migration - Identify new work opportunities through regular stakeholder interactions to increase cost efficiencies for operating companies. Create a knowledge environment in the team to ensure continuous learning from members on end-to-end business environment, processes, skills, competencies and create efficiencies for future business opportunities

SOP & Exception Management - Ownership of delivery as well as decisions on SOPs within defined frameworks and boundaries to ensure smooth functioning of day-to-day operations in a team. Incumbent will be required to ensure zero escalation. Manage exceptional/urgent/out-of-turn requests for work basis business priorities to ensure a balance between stakeholder and people expectations

Utilization & Resource Management - Efficient utilization of all available resources in Operations team (people, systems, knowledge) to ensure timely, cost efficient and quality delivery to stakeholders. The incumbent is responsible to ensure maintenance of a right-sized team with relevant skills and competencies to deliver to the expectations of stakeholders.

Performance Management and People Development - Should have a view of the competencies, potential and performance levels of team to be able to create long term development plans for skill requirements (manage high/low performing PLs/TLs & average/ low performing TMs)

Responsible for creating and implementing people development strategies for team for current and future skill requirements of the team. Mentor team members for larger and challenging goals/roles with a view to create an adept workforce. Responsible for ensuring an engaged workforce with a view of levels of engagement and intent to stay of team

Risk & Compliance- Monitor teams performance on risk and compliance to ensure operational risks are identified and mitigation plans implemented/reviewed on a regular basis to avoid any E&O, complaints, breaches.

Demonstrates strong knowledge of technical/functional insurance and reinsurance concepts, terms and contract clauses.

Demonstrates basic knowledge of market practices within technical domain areas

Networks with external groups to increase own knowledge of the technical area.

Responsible for operational issues within direct area of responsibility, maintain robust operational management discipline using reporting metrics to achieve processing metrics, ensuring all colleagues are operating rigorously within all published procedures and professional standards.


Knowledge and Skills:



Fundamentals of operations management, quality tools

Understanding of Insurance/Reinsurance broking business.

Understanding of end to end Fiduciary processes

Minimum 10 years experience overall in Insurance/Reinsurance broking operations, of which 3+ years in people management role

Analytical ability and Decision making

Communication, Influencing and Negotiation skills

Leadership and People management

Change management

Planning and Organizing

Resource Management



Desirable


Experience working with stakeholders across all CSS teams (claims, client teams, RM, etc.) and non-CSS teams (broking, finance, etc.), building trusted relationships

Working on a project or task where you had to influence someone to take a certain action to resolve challenging issues

Experience negotiating day-to-day client/market transactional activities

Coaching other team members

Desirable: Experience in Re-insurance Broking Accounts/Fiduciary function


Education:

Graduate (Commerce, Banking & Insurance, and Finance preferable)
Cert CII (Preferable)
III (Preferable)


What makes you stand out?


Track record of successful complex fiduciary account management

Client and/or market facing experience

Reinsurance business acumen

Strong problem-solving and analytical skills and ability to work with large quantities of data

Good communication, collaboration and people skills

Strong ability to plan and manage numerous processes, people and priorities simultaneously

Experience in statutory audits and dealing with auditors.