Marsh McLennan—Deputy Manager - Fiduciary

Job description

Description: We are seeking a talented individual to join our Fiduciary team at MarshRe. This role will be based in Mumbai. This is a hybrid role that has a requirement of working at least three days a week in the office. Deputy Manager – Fiduciary We’re seeking a Deputy Manager – Fiduciary who will have an opportunity to understand end to end lifecycle of Re-insurance Broking. A place to enhance your knowledge and leadership skills. Immense opportunity to lead Change Management initiatives as teams are undergoing system/process migration. Within the first 30 days, we expect you to gain in-depth knowledge of the service you would oversee & understand the role requirements. Within 60 days, attain competency & have a good understanding of process and systems & finally within 90 days be able to technically lead the team and be a single point of contact for all technical escalations, process improvements. Lead discussions and build relationships with Clients / Re-insurers / Business units as well as Placing brokers. We will count on you to: Core Accountabilities: - Processes cash receipts and disbursement of fiduciary funds and reconciliations responding to resulting queries. - Supports personal cash processing and fiduciary targets, including the use of Key Performance Indicators (KPIs) to facilitate reporting from the CSS Dashboard and other system tools. - Leverages in-depth knowledge of fiduciary systems, processes, policies, and procedures in day-to-day work. - Prepares, records and reports customer billing transactions emanating from broker ledger. - Responds to requests from various stakeholders, and appropriately escalates issues. - Develops strong client/market relationships providing value added service. - Maintains technical reinsurance knowledge and skills to effectively manage and service assigned client and/or market portfolio. - Works with cross-functional teams (e.g., Compliance, Finance, etc.) to resolve sensitive client issues. Process Management: - Have a sound end to end understanding of the business process - Delivery as per company standards and continuous rigor on improving business performance - Review operational and quality failures, conduct root cause analysis & monitor plan to ensure success - Manage migrations seamlessly – This includes system and/or work transfers by proactively identifying roadblocks, provide solutions and perfect execution Risk & Compliance: - Ensure Compliance adherence to internal and external regulators guidelines - Be actively involved in managing FMEA, Risk Register and all compliance related matters as per the defined timelines People Management: - Manage capacity planning and forecasting - Ensure leave policy as per business demands - Adherence to the Engagement rhythm - Conduct monthly performance reviews and appraisals within agreed timelines - Succession Planning - Identify and develop individuals for next level with IDP and support bottom quartile colleagues with Performance Improvement Plan - Ensure attrition is managed as per the company standards. Strong Early Warning system (EWS) management to identify early and accurate detection - Develop effective relationships with the stakeholders (internal and external) and participate and contribute in meetings - Embed a continuous improvement culture by motivating & influencing teams to drive process improvement - Participate in central projects and deliver as per the agreed objectives Financial & Operational Performance: - Ensure unmatched cashes, Receivables, Income exposure is well within acceptable limits and exposure over 4 months are all known and escalated to Regional Leaders. - Drive discussion and escalation to ensure response from Clients, Re-insurers, Third Party, etc. to ensure we meet our Fiduciary responsibility in a regular and timely manner. - Manage SLAs on Accuracy, productivity and TAT per agreed standards with internal/external stakeholders to ensure the smooth and efficient deliveries - Responsible for managing available resources (people, process) effectively to ensure operational efficiency Knowledge and Skills: - Excellent communication and leadership skills - Organizational and time-management skills - Decision making skills - Problem solving skills - Knowledge of Broking business and the Insurance terminologies. - In-depth knowledge of performance metrics - Ability to prioritize and handle multiple tasks/projects during peak volume periods - Collaborative mindset across levels and teams - Good command on MS Office applications (MS-Excel, MS-Word) - Influencing - Communication skills - Analytical abilities - Rigor and Agility What you need to have: - 8+ years of experience in insurance / Re-insurance broking in the operations / finance areas - Should have undertaken the responsibility of coaching / mentoring technical experts. - In -depth knowledge of Reinsurance concepts, Market systems, general business trends, financial and regulatory impacts on the organization - Proficiency in Microsoft Office Applications (Word, Excel, PowerPoint) required. - Experience in Re-Insurance Broking Accounts/Fiduciary function. - Experience working with stakeholders across all CSS teams (claims, client teams, RM, etc.) - Experience influencing others indirectly to accomplish a goal. - Experience handling multiple client requests. What makes you stand out? - Track record of successful fiduciary account management - Client and/or market facing experience - Adaptable communicator, facilitator, influencer and problem solver - Good relationship skills, Proven ability to work on own initiative as well as in a team - Ability to multi-task and prioritize time effectively - CII Certification - Past experience of leading a team of 10-15 members - Proven Insurance domain knowledge in the entire General Insurance lifecycle Why join our team: - We help you be your best through professional development opportunities, interesting work and supportive leaders. - We foster a vibrant and inclusive culture where you can work with talented colleagues to create new solutions and have impact for colleagues, clients and communities. - Our scale enables us to provide a range of career opportunities, as well as benefits and rewards to enhance your well-being. Marsh (NYSE: MRSH) is a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of over $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit marsh.com, or follow us on LinkedIn and X. Marsh is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age, background, caste, disability, ethnic origin, family duties, gender orientation or expression, gender reassignment, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex/gender, sexual orientation or expression, skin color, or any other characteristic protected by applicable law.