Fifth Third Bank

Sr. High Net Worth Insurance Specialist

Posted 3 Days Ago

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Chicago, IL

Senior level

Fintech

The Role

The Sr. High Net Worth Insurance Specialist in the Wealth and Asset Management team provides comprehensive insurance solutions for high net worth clients. Responsibilities include developing and implementing business plans, making sales presentations, managing client relationships, and ensuring compliance with policies while achieving regional revenue goals.

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GENERAL FUNCTION:

The Senior High Net Worth Insurance Specialist works within the Wealth and Asset Management team to provide the right comprehensive insurance solutions based on client needs and objectives. Achieves financial and client experience goals. Responsible for overall HNW Insurance Plan goals in each Region assigned. Coordinate HNW Insurance Specialist activity to support Region production.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Overall responsibility for assigned Territories Individual Regional Revenue Goals
Develop customized Business Plan for each Region assigned
Communicate Business Plan with Regional Directors, track and report results monthly.
Provide professional consulting / advisory services and solutions to Private Bank clients through the development, delivery and implementation of financial planning: (estate, tax, insurance, option, investment, retirement).
Design, implement and manage business plan for each HNW Specialist supporting the Territory. This includes client level, sales processes and result reporting.
Develop proactive, reciprocal calling and referral relationships with client relationship managers and sales officers to create planning strategies and opportunities for high net worth client base.
Devotes time prospecting to new and existing clients leveraging consultative selling process to focus on needs and objectives.
Gathers data for quotes and prepares quote request submissions; analyzes marketing summary/order presentation spreadsheets and presents proposals; completes application for new business submissions.
Maintains existing book of business with a focus on deepening client relationships.
Reviews, markets, and delivers renewals as needed; processes and reviews plan amendments.

Keeps current with carriers, products and applicable legislation
Pursues professional studies and maintains a familiarity with trends in the industry and with new insurance products.
Must be able to profile clients and then articulate complex concepts, in an understandable way and converse with clients and their advisors convincingly.
Plays a major role in the sales process in acquiring significant relationships.
Coordinate HNW Insurance Specialist activity within assigned Regions.
Acts as backup for department team as necessary.
Performs other duties as assigned.

SUPERVISORY RESPONSIBILITIES:

Responsible for providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and provide challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

Required Series 6, 66, appropriate state resident insurance licenses for Life, Health and Long Term Care certification.
Bachelor’s degree in related field, preferred
10+ years insurance experience, or proven sales track record
10+ years sales experience.
CLU or CFP professional designation required, or in process

Benefits:
Our benefits programs are designed to support the health, happiness, and financial well-being of our employees and their families. Your benefits will include access to comprehensive
medical, dental, and vision coverage, a 401(k) plan and employee stock purchase plan that both offer a generous employer match, flexible paid time off, comprehensive leave programs, and
unique benefits to support your overall mental and physical wellness. For additional details, please contact your recruiter.

Compensation:
Compensation for this position is largely incentive based. Incentive compensation is combined with either a base salary or a draw to determine total cash compensation, and incentive
compensation is based upon company, line of business and/or individual performance. More information can be obtained upon request.

Sr. High Net Worth Insurance SpecialistCompensation for this position is largely incentive-based. Incentives are combined with either a base salary or a draw, resulting in total cash compensation. More information can be obtained upon request.LOCATION -- Chicago, Illinois 60606

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.