Head of Market Security & Analysis

Aon’s Market Security and Analysis team is a dedicated team of credit and financial analysts focused on the global insurance and reinsurance industry. The team of 23 analysts are based in multiple offices including London, Krakow, Dublin, and the U.S.

Our mission is to protect Aon and Aon clients through the following responsibilities:

• Assess and monitor insurance and reinsurance carriers (or “markets”) with a goal of identifying those markets that appear to be “well-managed” and “financially sound.”
• Mitigate Aon client credit risk through the use of Market Security Briefs and market restrictions.
• Assist Aon business units in their control and use of markets, helping to ensure that Aon colleagues are consistently proposing only “viable” markets to clients.
• Help Aon clients make more informed decisions about their counterparties through Fact Sheets, Profile reports, News, and other services.
• Help ensure that intermediaries (Agencies, MGUs, Wholesalers) have the authority to write business on behalf of designated carriers and have provided the vital documentation according to business unit and Market Security requirements.
• Assist Aon business units in their compliance with legal/regulatory requirements with respect to counterparties, including the management and control of Terms of Business Agreements (TOBAs) for the UK and Belgium as well as conducting OFAC screening (for sanctions) of (affiliate) NFP and all Aon approved markets.
• Perform additional in-depth analysis of counterparties as requested by clients.

Aon is in the business of better decisions.

At Aon, we shape decisions for the better to protect and enrich the lives of people around the world.

As an organization, we are united through trust as one inclusive team and we are passionate about helping our colleagues and clients succeed.

What the day will look like:

The role is client-facing, and the colleague will interact with both internal Aon staff as well as clients directly.

• Take a lead role in analyzing the most sophisticated insurance and reinsurance groups and recommending treatments that prevent or minimize risk to Aon and Aon clients, while balancing Aon business needs.
• Lead the Market Security and Analysis (MS&A) team in delivering “Best in Class” services with respect to information needs on their insurance and reinsurance counterparties.
• Build and maintain relationships with key reinsurance partners globally.
• Identify and monitor trends of the industry and/or market segments.
• Engage with numerous Reinsurance and some Commercial Risk clients in their due diligence of counterparties.
• Provide updates to client senior management teams on developments in the insurance and reinsurance markets.
• Maintain key services for Aon reinsurance clients (including Market and Group Profiles, MarketReView, MarketPreView, Automated Ratings Notification Service, Market News).
• Assist Aon Reinsurance clients with their Market Security practices.
• Assessment of counterparties (assist clients in their due diligence of counterparties).
• Collateralized reinsurers and the associated key risks.
• U.S. collateral requirements and its impact on reinsurance reporting.
• Manage Market Security budget.
• Continue to review and prioritize team responsibilities and see opportunities for efficiency.
• Develop and enhance consistent approaches to analyzing insurance and reinsurance companies.
• Take the lead in resolving how AI capabilities (such as Aon Chat GBT) can be used to make the team more effective and efficient.
• Continue to develop MARS system and related practices to more efficiently complete team objectives.
• Continue to modernize and update the tools and methods to analyze insurers and reinsurers worldwide.
• Assume a central role in managing sensitive security issues with key reinsurance partners that are also clients.
• Perform “Senior Manager” responsibilities in accordance with UK regulations and guidelines.

Skills and experience that will lead to success:

• Proven experience in the insurance industry analyzing property and casualty (and/or Life and Health companies) insurance and reinsurance companies.
• Ability to independently analyze sophisticated insurer and reinsurer groups, identify key vulnerabilities, and summarize the analysis for senior management and/or Market Security committees.
• Ability to teach complex financial concepts to Market Security staff and other collaborators.
• Solid understanding of U.S. Statutory accounting, U.S. and international GAAP accounting, and IFRS accounting (including IFRS 17).
• At least 10 years of experience with reinsurance.
• Proven ability to understand the impact of reinsurance on balance sheets and income statements for all types of reinsurance transactions including: Loss Portfolio Transfers (LPTs), Adverse Development Covers (ADCs), Intercompany Pooling, Quota Share (QS), Structured QS, Funds Transferred, and Funds Held QS.
• Knowledge of financial instruments used in the capital structure of insurers and reinsurers globally; including debt, equity, surplus notes, trust preferred securities, and other hybrid debt/equity instruments.
• Complete understanding of the AM Best and S&P rating process for property and casualty insurers and reinsurers.
• A strong pattern of leadership and the ability to proactively and successfully interact with various partners, both within and outside of the organization.
• Excellent presentation skills (including experience making presentations to senior leadership and clients) with the ability to synthesize content from multiple sources.
• Ability to identify, implement, and guide efficiencies to existing systems, practices, and controls.
• Bachelor of Science Degree in Risk Management, Finance, Accounting, Mathematics, or equivalent.
• Some travel will be required.

Skills that would make you stand out:

• Previous experience analyzing insurance and reinsurance companies at a rating agency including AM Best, S&P, Fitch, and/or Moody’s or an equity analyst analyzing global insurance and reinsurance companies.
• Excellent modeling skills and thorough familiarity with spreadsheet-based financial models.
• Prior experience with rating agency and regulatory capital models and economic capital models.
• Knowledge of insurance regulation in leading insurer and reinsurer domiciles (including the U.S., UK, EU, Switzerland, Bermuda, Canada, Japan, or other major markets).
• Capital markets expertise, e.g., assisting insurers and reinsurers in raising capital or debt.
• Master’s degree in finance and/or CFA, CPA, and/or related industry designations such as CPCU, ARe are a plus.

How we support our colleagues:

In addition to our comprehensive benefits package, we encourage an inclusive workforce. Our agile environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon.

Our continuous learning culture inspires and equips you to learn, share, and grow, helping you achieve your fullest potential.

Aon values an innovative and inclusive workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.

Aon provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status.

We are committed to providing equal employment opportunities and fostering an inclusive workplace. If you require accommodations during the application or interview process, please let us know.

For positions in San Francisco and Los Angeles, we will consider for employment qualified applicants with arrest and conviction records in accordance with local Fair Chance ordinances.

Pay Transparency Laws:

The salary range for this position (intended for U.S. applicants) is $200,000 to $250,000 annually. The actual salary will vary based on the applicant’s education, experience, skills, and abilities, as well as internal equity and alignment with market data.

This position is eligible to participate in Aon’s annual incentive plans in addition to base salary. The amount of any incentives varies and is subject to the terms and conditions of the applicable incentive plan.

A summary of all the benefits offered for this position:

Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon’s discretion; medical, dental, and vision insurance.

This role does not accrue vacation. Rather, this role is eligible to take paid time off at the discretion of the employee and management in accordance with company policy and practices.

Various other types of leaves of absence; paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions.

Eligibility for benefits is governed by the applicable plan documents and policies.