US Retail Chief Broking Officer 6/7/2018

Aon New York, NY

Company
Aon
Location
New York, NY
AJE Ref #
582055734
Job Classification
Full Time
Job Type
Regular
Company Ref #
2446236
Experience
Entry Level (0 - 2 years)

JOB DESCRIPTION

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Job Family US-NY-New York

POSTING DESCRIPTION

US Retail Chief Broking Officer (CBO)

Duties and Responsibilities: The US CBO is responsible for developing and executing Aon s broking strategy to include building a coordinated broking organization that drives value to clients and leads the industry with innovation and thought leadership using data & analytics to support the strategy. The CBO role will be responsible for matching client s risk with capital solutions in a distinctive and differentiated manner; while also driving best in class broking and operating model that modernizes the submission/quote process and the use of data & analytics to build thought leadership and client innovation. An integral component of this role requires the management of carrier relationships in the market to ensure proper compensation and the necessary insights and knowledge for increasing the value from our trading partners. This leader is also responsible for the internal management of the U.S. broking practice, including the definition and execution of the Broking talent strategy and operations management to ensure proper reporting, communications, compliance and collaboration to drive Aon United. The US CBO will work closely with the global broking organization to ensure the US strategy is aligned with the global broking objectives and maximizing Aon s market leverage, relationship, innovation and data & analytics strategy around the world.



Key responsibilities and scope:

Product Innovation & Efficient Capital Solutions

* Champion the innovation agenda, working closely with the Client Solution Innovation team to ensure the definition and execution of both process and product/solution innovation

* Drive the innovation agenda with carriers to anticipate and meet shifting client needs, including our new products that respond to emerging risks (e.g., Cyber, Intellectual Property, Alternative Risk Solutions, etc.)

* Identify plans for delivering effective and efficient client solutions via bespoke broking, panels, facilities, and structured portfolio solutions (specific examples to include: Aon Client Treaty, Spectrum, LEAF, MM Cyber Panel, MGA/MGU). Own product rollout, tracking execution and building Stories around success.

* Work with Benfield and Affinity to deliver one Aon United approach to develop client solutions



Commission Standardization & Optimization

* Responsible for driving commission standardization across Bermuda, London, the United States, and where necessary practice groups (e.g., Professional Services Group)

* Work with Account Executive team to build a coordinate approach to managing compensation balanced with profitability by client for holistic compensation strategy with clients such as use of wholesale commissions and execution of minimum commission grid. Build tools for field to manage the compensation strategy of broking.

* Build optimal 3rd party wholesale compensation strategy as well as manage, track and report out wholesale commissions revenue

* Optimize the value we deliver through our Contingent agreements, NACs, Bursaries, PACs, DACs and wholesale distribution; Closely manage NACs and Contingents to ensure we are maintaining existing agreements, identifying new opportunities, tracking and reconciling activity and minimize client exceptions

* Translate the knowledge of the compensation process into how we communicate the value of Aon s Broking services, sharing our value proposition and promoting the ability, through training and education, for the field to deliver a consistently, strong message



Market Relationships & Carrier Management

* Serve as the face of US Retail to the insurance market and maintain and/or build relationships with carrier executive management and senior product and client segment leadership

* Serve as a primary internal source for information concerning market trends, pricing and other underwriting matters such as appetite and leadership changes with our key insurer trading partners

* Manage 3rd party intermediaries on behalf of clients and carriers

* Provide insight to Aon Inpoint for driving additional revenue opportunities and innovation

* Engage in complex and/or disputed claims to share expertise, guidance and, when necessary, apply resources and assets to seek resolution of high-value client claims; Facilitate client and carrier negotiations and maintain client dispute reports

Talent Strategy & Staff Management

* Drive broking and AGRC leadership to execute on talent agenda to include tools for measuring performance of teams and individuals

* Manage broking and AGRC resources, in conjunction with line management, and oversee staffing decisions to promote diverse teams and development opportunities for staff (including career paths and succession planning)

* Ensure the use of Broker Scorecards to drive accountability and track performance

* Support initiatives that drive engagement and retention

* Develop and keep current the best practices playbook for the broking role at a national level across all LOB s and work with each LOB broking leader to include the best practices within the product and practice groups

* Improve communication and collaboration with the global broking team to promote knowledge sharing and a consistent global brand

Operations Management & Operating Model Improvements

* CBO in conjunction with the COO of broking will build out the appropriate level of reporting for the field organization to manage the broking strategy

* Identify opportunities to improve the ease of doing business with Aon; Continue to support existing initiatives, such as modernizing the submission / quote process, removing barriers to utilizing GBCs and applying market insights for identification and definition of new solutions and services

* Support Global Risk Insight Platform (GRIP ) utilization, data integrity efforts and drive utilization of Risk/View as part of each client s renewal strategy led by broking

* Define and develop functionality improvement for ACL; work collaboratively with our carrier partners

* Drive compliance with broking to ensure standards and appropriate risk mitigation is executed

* Deliver Aon United to improve collaboration and allows for cross-sell opportunities, innovative solutions and the ability to bring relevant insights to clients

* Engage Aon Affinity and the Digital Client Innovation team where needed

* Embed the use of Aon Benfield to deliver best in class solutions for clients; Ensure Aon Benfield is involved in Strategy Sessions for our top 25 Global Corporate clients

* Participate, liaise and support Aon Inpoint with client meetings, problem solving and major renewal



Aon provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, or domestic partner status. Aon is committed to a diverse workforce and is an affirmative action employer.

Overview

Aon plc (NYSE:Aon) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Company Size:
50,000+ Employees
Industry
Financial Services
Founded:
1982
Social Media:
Headquarters:
200 East Randolph
Chicago, IL 60601

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