Head of Insurance Underwriting

Location
Saudi Arabia
Salary
Competitive salary
Posted
20 May 2019
Closes
26 Jun 2019
Ref
5d11f5e8e4b00242e074d536
Job role
Accountant
Sector
Insurance
The role holder is responsible for oversight of the Bank's insurance underwriting activities including risk acceptability evaluations, risk engineering, support and monitoring. This role holder is responsible for fixing the premiums, adherence to the regulatory guidelines and setting the terms and conditions for the delegations of insurance (if any).

Client Details

A Leading Financial Institution actively contributing to the growth of the kingdom and achieving 2030 vision goals.

Description

Underwriting Leadership

§ Oversees the firm's insurance underwriting operations and guides the development of underwriting policies and standards.

§ Collaborates with senior management to develop, implement and administer policies and programmes to ensure high quality underwriting and minimize claims.

§ Advises senior management on risk & compliance issues related to credit insurance.

Underwriting Process

§ Guides and reviews the development of underwriting policies and standards like examination of underwriting files for risk selection, use and adequacy of rating models, wording including coverage provided and other terms and conditions.

§ Supervises the insurance underwriting operations while focusing on both efficiency / cycle time and compliance.

§ Evaluates the acceptability of risks associated with application and approves & signs off on the underwriting report in relation to risk assessment.

§ Participates in risk evaluation committee meetings (if necessary) and keeps abreast with relevant rules and regulations.

§ Develops and maintains relationships and communication with business heads, actuaries, and risk management department.

Policies and Procedures

§ Ensures the preparation, maintenance and recording of all documents and data relating to underwriting process and policy documents in a systematic manner adhering to requisite legal formalities and internal policies.

§ Constantly reviews and recommends changes to the underwriting guidelines and procedures to ensure underwriting profitability.

Profile

§ Bachelor's degree in Finance, Accounting, Economics, Commerce or any related discipline

§ Master's degree in Finance, Accounting, Economics, Commerce or any related discipline is preferred

§ Minimum of 10 years of experience in Credit Administration and Underwriting with at least 6 years in a similar role

§ Experience in banking industry and insurance products.

§ Experience in reviewing loan and insurance packages prepared

Technical skills:
  • Solid understanding of Financing products, preferably Export/ Import Financing products
  • Advanced knowledge in risk assessment, insurance products and underwriting process.
  • Proven insurance underwriting skills
  • Other skills:
  • Exceptional analytical and quantitative skill
  • Excellent oral and written communication skills in both English and Arabic
  • Project management and organization skills
  • Strong detail orientation


  • High standards of values and ethics, and professional behaviorfor clients.

    Job Offer

    Very attractive package and benefits.. no Tax