Parametric Product Specialist at Marsh & McLennan Companies in New York, New York

Posted in Other 11 days ago.

Job Description:

What you can expect:

You will be an expert in parametric risk transfer products, with focus on parametric weather, energy, and nat-cat solutions. Parametric solutions are becoming an increasingly important risk management tool for our clients across all major industries, driven by several factors: climate change, increased weather volatility, hardening property market, and the need from client stakeholders to diversify their risk management toolbox. This is a multifaceted role in a rapidly growing field, with an opportunity to contribute to business growth locally and globally.

You'll be in Marsh & McLennan's NYC global headquarters or our London office, and be part of the Financial Risk Products team. The group drives and places innovative financial risk transfer solutions for Marsh clients, and is engaged with clients and colleagues globally. We are responsible for the entire chain of the risk transfer placement process, from identifying risk drivers and structuring, to marketing, negotiation with insurers and documentation.

What's in it for you?

  • A company with a strong Brand and strong results to match.

  • Culture of internal mobility, collaboration and valued partnership with HR from the business.

  • Employee Resource Groups which provide access to leaders, relevant volunteer and mentoring opportunities and interactions with counterparts in industry groups and client organizations.

  • Competitive pay (salary and bonus potential), Full benefits package - starting day one (medical, dental, vision, STI/LTI, life insurance, generous 401k match AND contribution.

We will count on you to:

  • Understand clients' needs across various industries, identify risks and assist with development of parametric solutions

  • Gather and analyze clients' financial data, as well as 3rd party weather and commodity price data

  • Work with senior team members and use existing models to help design tailored solutions

  • Develop material for client presentations, internal and external sales efforts, and colleague training on parametric solutions and trends

  • Participate in meetings with clients and internal colleagues to discuss exposures and solutions

  • Administer electronic data and file storage, as well as distribute documentation to clients

  • Prepare term sheets and quote summaries for clients

  • Maintain internal logs of live deals, placement process, as well as market and client contacts

  • Review insurance policies and financial contracts, and identify potential pitfalls and improvements

  • Perform loss calculations for existing client contracts

What you need to have:

  • Bachelor's degree in a technical field; masters or math/science degree preferred

  • 3-7 years of experience working in the re/insurance industry as a broker or underwriter

  • Client-centric empathy and drive to bring better understanding of weather and natural disaster risk to less technical audiences

  • Curiosity and eagerness to constantly learn and apply new solutions. Ability to face and troubleshoot difficult and complex problems

  • Can work independently with minimal supervision with ability to manage projects/processes

  • Ability to influence others within and outside of the job function regarding approach and procedures

  • Ability to develop strong internal/external client-oriented solutions

  • Superior detail orientation, excellent communication, interpersonal, and time management skills

  • Strong teamwork skills, hard working with a constant positive attitude

  • Strong Microsoft Office skills, especially Excel

Marsh is a global leader in insurance broking and risk management. In more than 130 countries, our experts in every facet of risk and across industries help clients to anticipate, quantify, and more fully understand the range of risks they face. We work with clients of all sizes to define, design, and deliver innovative solutions to better quantify and manage risk. We offer risk management, risk consulting, insurance broking, alternative risk financing, and insurance program management services to businesses, government entities, organizations, and individuals around the world. To every client interaction we bring an unmatched combination of deep intellectual capital, industry-specific expertise, global experience, and collaboration.

Since 1871, clients have relied on Marsh for trusted advice, to represent their interests in the marketplace, make sense of an increasingly complex world, and help turn risks into new opportunities for growth. Our more than 30,000 colleagues work on behalf of our clients, who are enterprises of all sizes in every industry, and include individuals, multinational organizations, and government entities worldwide. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. Visit for more information and follow us on LinkedIn and Twitter @MarshGlobal.Marsh and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).

Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: health and welfare, tuition assistance, 401K, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: