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Lockton is the world’s largest privately held independent insurance broker. Their focus is to provide their clients with the best in risk management, insurance and employee benefits consulting.
The entrepreneurial culture of the Lockton business is reflected in empowering their associates to act quickly, learn fast and provide the right solutions for their clients.
The role
We have a new opportunity to join the Transactional Risks division of Lockton, as a Graduate Associate.
Transactional Risk is a relatively new ‘emerging risk’ and offers an exciting, fast-paced work environment and this role would suit Graduate-level candidates seeking their first role in the industry. This team continues to grow and develop, so there will always be scope for progression, which will be based upon the performance and motivation of the successful candidate.
What is Transactional Risk
In a nutshell the team sell insurance relating to M&A, (mergers and acquisitions). The main product sold, is called warranty and indemnity insurance, (commonly referred to as W&I). W&I is an insurance product used by buyers and sellers in connection with M&A transactions to cover liabilities under the warranties and tax indemnity. The team works with a large number of law firms of all sizes nationally and internationally. W&I differs to other types of insurance as it is one-off, deal-based policies i.e. non-renewable.
Skills and Experience
We would like someone who is bright, enthusiastic, keen to learn and adaptable. The rest follows. The team are constantly busy, working at pace, balancing multiple priorities at one, so it's important that you enjoy and flourish in this type of working environment.
We would like to hear about experiences where you have made mistakes and adapted your work or the processes in place to ensure those errors are avoided in the future. We would also like someone who is comfortable being in a client-facing role.
We anticipate that work will cover the following
- Producing reports on insurance terms to a high standard in line with guidance. You will need aptitude to be able to review insurance terms from different formats. We will teach you everything you need to know about insurance and the terms that you are reviewing.
- Agreeing non-disclosure agreements and hold harmless letters, according to template guidance. Again, we will train you up on this.
- Assisting with project management and running transactions.
- Developing a network of contacts in the Corporate Finance community.
- Assisting the team organise business development and deal follow-ups.
- Managing, reporting and analysing data from our Customer Relationship Management system.
- Study of the Charted Institute of Insurance professional qualifications will be fully encouraged and supported.
About you
- Hardworking and willingness to learn
- Graduate degree, ideally in law or economics/finance but any degree will be considered
- Interest in pursuing a career in the insurance industry
