Senior P&I Broker

1 week ago


Singapore LOCKTON COMPANIES (SINGAPORE) PRIVATE LIMITED Full time
Job Title: Senior P&I Broker

LOCKTON COMPANIES (SINGAPORE) PRIVATE LIMITED is seeking a highly skilled Senior P&I Broker to join our team.

Key Responsibilities:
  • New Business: Identify new business opportunities, secure identified new business, and provide advice on risk and insurance issues.
  • Place Business: Obtain insurance on appropriate terms, price, and insurer to meet the client's requirements, maintain records of negotiations, presentations, and communications with insurers, and effect amendments to an existing insurance on appropriate terms and price to meet the client's requirements.
  • Support Business: Produce documentation to support the placing of insurance contracts, communicate, present, and negotiate details of cover to/with insurers and/or clients, check and maintain records of negotiations, presentations, and communications with insurers and with clients, and produce and/or review documentation to evidence insurance contracts placed including wordings, policies, and associated negotiations with insurers and clients.
  • Retain Business: Service the account to identify the client's requirements, develop an account strategy to meet the client's requirements, and maximise account income through negotiation with the client, efficient use of resources, and account penetration.
  • Develop and Manage Effective Internal/External Relationships: Communicate effectively at all levels, manage performance, and self-motivate to achieve desired results with regard to team, division, company, and annual personal objectives.
  • Manage Compliance, Regulatory Requirements, and Market Issues: Be aware of and adhere to operating procedures as detailed within the Operating Procedures Manual (OPM) / Team supplements / Transportation Best Practice documentation, understand changes and developments in regulation / Market Reform, including impact upon the business.
  • Development: Conduct effect analysis of own training requirements, take responsibility for own continuous learning, and mentor colleagues that require support.

Qualification and Experience:

Generic Knowledge:

  • At least 5 years industry knowledge.
  • MAS regulation including Money Laundering, Anti Bribery & Corruption, Insurance Conduct of Business Sourcebook (ICOBS) and Business Contacts, Treating Customers Fairly, Conflicts of Interest, Complaints Handling, General Data Protection Regulation (GDPR), Insurance Distribution Directive (IDD), Insurance Act 2015.
  • Business sector specific products (Previous Experience in P&I).
  • Business sector specific risks.
  • IT – Microsoft Office.

Specific Knowledge:

  • OPM (as applicable to the role) and Team Supplement.
  • Legal & Compliance (E&O Awareness).
  • Company policies and procedures (including Gifts and Entertainment Policy), internal compliance and operational standards.
  • IT – Processing Systems.
  • Team structure and reporting lines.

Tell Employers What Skills You Have:

Negotiation, Commodity, Microsoft Office, Brokerage, Entertainment, Strategy, Compliance, Attention to Detail, Transportation, Audits, Bonds, Evidence, Fixed Income, Regulatory Requirements, Benchmarking, Equities.


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