Group Insurance Expert

About the job

Group Insurance Expert

Job Description

Our Company

EFG International is a global private banking group, offering private banking and asset management services. We serve clients in over 40 locations worldwide. EFG International offers a stimulating and dynamic work environment and strives to be an employer of choice.

EFG is committed to providing an equitable and inclusive working environment that is founded on the principle of mutual respect. Joining our team means experiencing a supportive environment, where your contributions are valued and recognised. We strongly believe that the diversity of our teams gives us a competitive advantage by fostering better decision-making and greater innovation.

Our Purpose and Mission

Empowering entrepreneurial minds to create value – today and for the future.

We are a private bank, offering personalised solutions on a global scale to private and institutional clients. Our sustainable success is based on our talents and on how we partner with our clients and communities to create lasting value.

Role

The Insurance Center of Excellence (CoE) serves as the group centre of competence on the insurance offering of Wealth Planning team. The CoE on insurance manages the insurance broker network, provides expertise, governance, training and oversight to ensure insurance offering is rolled out consistently at group and regional level. It supports wealth planners and CROs and other internal units with technical knowledge, product evaluation and compliance rigor. The CoE ensures that insurance offering and referral framework of EFG is technically sound, client-appropriate, compliant with regulatory and tax requirements, and aligned with the bank’s overall wealth planning framework.

Main Responsibilities

• Product Expertise, Due Diligence & Governance
• Be responsible for the product offering, oversee the insurance referral activity and respective revenue generated
• Design the insurance offering strategy in line with group Wealth Planning and business strategy
• Maintain the approved insurance product shelf aligned with client segment, regions, regulatory environment & risk appetite (whole life, private placement life insurance etc).
• Evaluate insurance brokers and product lines for strength, competitiveness, and suitability.
• Act as the central point for insurance broker selection, onboarding/offboarding, periodic due diligence and maintain governance standards.
• Act as the central point for Insurance referral framework (procedures, guidelines etc)
• Ensure proper documentation, disclosures and reporting of insurance referral activity
• Monitor regulatory developments affecting insurance - based planning (e.g. cross-border rules, regulatory framework and insurance regulation). Identify and mitigate various risks related to insurance solutions (mis-selling, reputational risks etc).
• Collaborate with 2nd line functions (compliance, legal and risk functions) in reviews and audits.
• Internal advisory support and education
• Develop and deliver:
• Internal training sessions
• Technical notes and planning guidelines
• Case studies and best-practice examples
• Provide technical guidance to RMs and Wealth Planners for client discussions.
• Develop and deliver:
• Advisor Support & Enablement
• Provide guidance on regulatory and suitability requirements.
• Support wealth planners with best practices in client conversations
• Innovation & Thought Leadership
• Identify emerging insurance industry trends, product innovations, and planning opportunities.

Our Values

• Accountability: Taking ownership for tasks and challenges, as well as seeking continuous improvement
• Hands-on: Being proactive to rapidly deliver high-quality results
• Passionate: Being committed and striving for excellence
• Solution-driven: Focusing on client outcomes and treating clients fairly with a risk-aware mindset
• Partnership-oriented: Promoting collaboration and teamwork. Working together with an entrepreneurial spirit.