Senior Account Executive - Inherited Portfolio and Potential Equity!
One of those rarest of jobs, combining the most coveted yet hard to find 'must haves’ on most Account Executives’ wish lists: A chance to inherit an established portfolio, coupled with the potential to earn equity in a thriving broking house.
Our client is a longstanding name in the North West broking community. Over several generations, it has forged a fine reputation, and is recognised as the 'go to’ broker for firms of all industry sectors. Shunning the approaches of the consolidators, its MD has decided to 'go it alone’ and is proud to remain independent.
Its Principal is seeking a Senior Account Executive to join the business, effectively becoming his number 2. This is a crucial role, where you will work in close conjunction with the Principal, who still plays a very active part in the business but intends to reduce his workload from his current '6 days a week regime’ to something with a fairer work-life balance!
In order to achieve this, the Principal will initially pass on a portfolio of commercial accounts generating circa £150K in commission and fee income. This is likely to increase in coming years as the Principal takes more of a back seat. These are longstanding clients from such industries as Property Owners, Contractors and Haulage, with premium spends ranging from a couple of thousand pounds to close to six figures.
You will run the business in the absence of the MD, whether this be managing the team should he take a long overdue holiday, or simply acting as a technical referral point should he be in client meetings. You will be encouraged to really 'make the role your own’; for example, you may look to assume control of the business’ compliance function, manage insurer relations, or work on innovative schemes.
The focus here is very much on the management of existing accounts, freeing up the MD’s workload and adding value from an operations perspective, but you will certainly be encouraged to help develop new business.
It is essential that you have extensive commercial broking experience, including knowledge of all common commercial covers such as Property, Liability, Fleet and Business Interruption etc. You must have a strong degree of business acumen and a sound understanding of the insurance requirements of firms from a variety of sectors. Coming into the brokerage in a such a senior capacity you must be trustworthy, reliable, a natural problem solver and have a strong work ethic. Furthermore, you must be a 'people person’, mindful of the established culture in the business and able to secure the buy-in from your colleagues and clients alike with your positive outlook and professional demeanour.
In return, you will assume an exciting new role, and have the support of friendly and respected insurance professionals who will genuinely welcome your input into the business. You will receive a generous basic salary that is anticipated to be in the region of £35K - £45K but completely negotiable for outstanding candidates who are, for example, confident in winning large volumes of new business or transferring accounts post-covenant. With succession planning in mind, the MD wants to hear from candidates who seek to become more of a business partner, and in years to come, earn a meaningful equity stake in the business. You will also benefit from a company bonus (dependent on what extra responsibilities you assume within the business), pension and other benefits including support towards professional qualifications under the Chartered Insurance Institute.
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