Account Broker

JOB SUMMARY

Responsible for developing and growing the business portfolio of the assigned team or unit, and in implementing processes and procedures relation to sales, client servicing, and collections. Also responsible for ensuring that bank interests (financial or reputational) are likewise well-protected.

DUTIES & RESPONSIBILITIES

1. Business Development and Account Maintenance 

1. Responsible for delivering the premium and commission budget for his or her assigned team or unit while keeping within the operating expense budget as well as in alignment with company rules and regulations.

2. Receives calls, requests for quotations, endorsements, policies and other inquiries from clients, insurance companies, BDO branches and business units; and acts on them appropriately and promptly.

3. Communicates regularly with Commercial Bank Group (Combank) counterparts and other bank units to formulate, agree and implement sales strategies, and satisfy client servicing requirements.

4. Maximizes the business relationship with bank counterparts and clients by assessing accounts and identifying opportunities for new business and organic growth, and cross-selling other insurance products to address client's needs, contribute to production and grow the existing business portfolio.

5. Ensures that all policies are renewed on time.

6. Strengthens business relationships with clients by constant communication (i.e. providing market updates, disaster alerts), visits and providing the highest level of customer service.

7. Conducts product presentations or orientation on topics ranging from insurance coverage to claims handling for client or bank counterparts.

8. Follows agreed broking procedures and/or specific work instructions in handling new business and renewals.

9. Provides regular progress reports to Combank Unit and Team Heads and Account Officers with regards to the status of accounts in the pipeline as well as unit/team/AO performance versus budget.

2. Account Administration (Quotation, Proposal, Placements, Collections, Claims) 

1. Negotiates with insurance companies and other BDOI units (i.e. TSU) the most appropriate terms and conditions to suit the needs of the client (when applicable or necessary).

2. Prepares the required documentation using the BDOI system such as renewal advice, quotation slip, proposal form, placement slip and cover note.

3. Reviews policies issued by insurance companies prior to sending out to clients.

4. Ensures that policies and endorsements are issued and released to clients within prescribed turnaround time (TAT).

5. Assists clients with Accounting or Claims concerns and to coordinate with respective units.

6. Requests for credit term extensions from the insurers for accounts with ARs over 45 days.

7. Assists in the collection of receivables.

8. Monitors booking of accounts and transmittal of SOAs, policies, endorsements, and Confirmations of Cover (COC’s) to bank units/counterparts.

9. Coordinates with appropriate departments for various reconciliation matters.

10. Responsible for monitoring and providing assistance and dispositions (when necessary) in the application of unapplied payments, booking of accounts, transmittal of SOAs and adjustments/cancellation of policies to BDO Combank units or clients; and elevating matters for higher management or bank counterpart intervention

3. Reportorial and Administrative Requirements 

1. Prepares and submits the regular Mancom and internal (Combank) reports on a regular basis.

2. Ensures the good order of files and policy documents (soft and hard copies, when possible) for proper organization and easy reference.

3. Performs other duties as may be assigned by the immediate superior or senior management from time to time.

BDO Unibank, Inc. provides equal opportunity to all qualified candidates. Hiring decisions are based on job requirements and candidate qualifications, and shall not be influenced by any consideration  of race, color, religion, sex (including sexual orientation and gender identity), national or ethnic origin, or disability.                                                                                                                       Requisition ID: 27187