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Vice President, Group Insurance
Barclays Capital
London, , United Kingdom
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Description
About Barclays
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. Please visit our website here for more information.
Group Insurance
The key objective of Group Insurance is to develop effective insurance risk management strategies to safeguard the people, assets and liabilities of Barclays. The team’s goal is to be the insurance go to experts to our internal stakeholders delivering specialists insurance risk management expertise and advisory solutions to meet the changing needs of the businesses in Barclays.
Role Purpose
• Support the Director, Group Insurance and/or have direct responsibility to design, negotiate and execute and administer insurance policies through the Group’s approved brokers and/or directly with insurers, captive companies and providers of alternative risk transfer.
Key Accountabilities
• Be directly responsible for the control and management of specific insurance policies identified by the Director, Group Insurance.
• Work with the Group's captive insurance companies and fronting insurers to ensure issuance of insurance policies where required to comply with statutory, regulatory or counterparty obligations.
• Be responsible for the management of claims under specific insurance policies and for work with other members of Group Insurance on all other claims.
• Research market trends on insurable and transferable risk, and provide technical expertise and advice on insurance, risk management and risk controls to relevant stakeholders as appropriate.
• Provide technical support to the Managing Director Group Insurance to identify risks of Group level materiality that could be mitigated by insurance or by other alternative risk transfer and capital market solutions.
• Inform the Group's risk appetite for insurable risks and work with other members of Group Insurance to ensure that insurance policies match that risk appetite.
• Establish and maintain relationships with appropriate persons across the Group to facilitate the timely collection of relevant underwriting information to support the placement of insurance policies.
• Establish and maintain relationships with brokers and underwriters of insurance, and providers of alternative risk transfer and capital market products, and communicate output to other areas and functions within the Group interested in risk transfer.
Person Specification
• Minimum qualification – Graduate with ACII (or equivalent insurance/risk qualification).
• First rate understanding of the global insurance markets and the products used for the transfer of risk (including ART and other capital market structures).
• Detailed understanding of insurance markets and business processes, environment, contract terms, waivers, releases, risk controls and checks and ability to act with assistance in relation to overseas equivalents.
• Detailed knowledge of the main classes of corporate insurances including underwriting criteria, and insurance policy structures, definitions, policy wordings and exclusions.
• Proficiency in handling and negotiating complex claims.
• Knowledge of financial institutions and their key risk exposures. Awareness of banking regulation and its implications for operational risk/insurance mitigation.
• Relevant experience with an insurance company, insurance broker or the insurance division of a large commercial organisation involved with or managing global insurance programmes.
• High standard of communication skills, oral and written.
• Good interpersonal skills, able to gain agreement of internal customers to programme requirements and risk controls.
• Good negotiating skills in insurance contracts
Risk and Control Objective
All Barclays colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards
Benefits
Our customers deserve the best. The same goes for our employees. That's why at Barclays you'll receive a range of benefits that include a competitive salary and all the tools, technology and support you need to succeed.
Our Culture
Everything we do is shaped by the five values of Respect, Integrity, Service, Excellence and Stewardship. The values inform the foundations of our relationships with customers and clients, but they also shape how we measure and reward the performance of our employees. Simply put, success is not just about what you achieve, but about how you achieve it.
Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.
Barclays is an equal opportunity employer and are opposed to discrimination on any grounds. For more detailed information, please visit our dedicated Diversity and Inclusion site here.