Group Insurance Specialist

Job description

The Insurance Center of Excellence (CoE) serves as the group center of expertise for the Wealth Planning team's insurance offering. The Insurance CoE manages the insurance broker network, providing expertise, governance, training, and oversight to ensure that the insurance offering is implemented consistently at the group and regional levels. It supports wealth planners and CROs, as well as other internal units, with technical knowledge, product evaluation, and compliance rigor. The CoE ensures that EFG's insurance offering and referral framework are technically sound, tailored to clients, compliant with regulatory and tax requirements, and consistent with the bank's overall wealth planning framework.

Main tasks

• Product expertise, due diligence, and governance: responsibility for the product range, monitoring of insurance brokerage activities, and the resulting sales.
• Developing the insurance offering strategy in line with the group's asset planning and business strategy.
• Maintenance of the approved insurance product range, which is tailored to customer segments, regions, the regulatory environment, and risk appetite (e.g., whole life, private placement life insurance).
• Evaluation of insurance brokers and product lines in terms of strength, competitiveness, and suitability.
• Central point of contact for selection, onboarding/offboarding, periodic due diligence, and maintaining governance standards for insurance brokers.
• Central point of contact for the insurance referral framework (procedures, guidelines, etc.).
• Ensuring proper documentation, disclosure, and reporting of insurance brokerage activities.
• Monitoring regulatory developments affecting insurance-based planning (e.g., cross-border rules, regulatory framework, and insurance regulation). Identifying and mitigating various risks associated with insurance solutions (mis-selling, reputational damage, etc.).
• Collaboration with second-line functions (compliance, legal, and risk functions) during reviews and audits.
• Internal consulting support and training: Development and implementation of internal training sessions, technical notes and planning guidelines, case studies, and best practice examples.
• Providing technical guidance to RMs and wealth planners for client meetings.

Further tasks

• Advisor Support & Enablement: Providing guidance on regulatory and suitability requirements, supporting wealth planners with best practices in client meetings.
• Innovation & Thought Leadership: Identification of trends, product innovations, and planning opportunities in the insurance industry.

Our values

• Responsibility: Taking responsibility for tasks and challenges and striving for continuous improvement.
• Hands-on: Proactive delivery of high-quality results.
• Passion: Commitment and pursuit of excellence.
• Solution-oriented: Focus on customer results and fair treatment of customers with a risk-aware attitude.
• Partnership: Promoting cooperation and teamwork,