TECHNICAL DIRECTOR (UNDERWRITING)

The Technical Director will set the underwriting strategy and deliver Underwriting services for all lines of business. Also, he will manage the Underwriting, Reinsurance, and Operations team in daily functional responsibilities and engage with internal and external stakeholders to achieve a sustainable portfolio in line with Underwriting and Reinsurance guidelines.

JOB RESPONSIBILITIES

1. Lead the underwriting function, with clear accountability over its underwriting operational and strategic priorities.
2. Manage and guide the Reinsurance function and maintain proper follow-up with the reinsurance team.
3. Set objectives and strategies for the Technical & Operations department.
4. Lead and guide the team members of the Business Operations Team by motivating them to stay focused, acting as a mentor, and encouraging initiative.
5. Select and implement suitable technology to streamline all internal operations and help optimize their strategic benefits.
6. Manage a team to deliver exceptional performance on the daily activity of Underwriting. This includes assessing, pricing, and accepting Marine, Health, Group Life, Property, Engineering, Motor, and General Accident-related insurance risks.
7. Establish and maintain a governance / organization structure for Underwriting, including underwriting authorities, manuals, and quality assurance review.
8. Define Underwriting Policies and Procedures, Strategy, and recommend business plans for profitable business growth.
9. Engage with Heads of Claims, Chief Commercial Officer, Reinsurance Manager, and other relevant stakeholders to achieve both the growth and profitability objectives.
10. Provide active support for product development and market expansion initiatives.
11. Engage with Actuary to monitor the pricing of Motor and Medical Insurance Products.
12. Assess risks and determine rates based on risk assessment and financial modeling applications to make high-level product decisions.
13. Represent the company in interactions with regulatory authorities, affluent customers, auditors, rating agencies, and other external parties as needed.
14. Ensure timely reporting and submission to regulatory authorities and related liaison with Compliance.
15. Ensure claim experience forms are accurate and timely provided to customers.
16. Provide the CEO with Underwriting performance reports (monthly, quarterly, annually).
17. Nurture and develop the team with a focus on productivity.
18. Ensure that Underwriting activities are performed in compliance with regulatory obligations.
19. Perform root cause analysis in liaison with the Chief Commercial Officer on trends like low quotation conversion to policy issuance or with the Production team on policy issuance turnaround time.
20. Engage with the Head of Human Resources to monitor employee turnover ratios (attrition rate).
21. Regularly review and enhance processes, technology, and systems, suggesting automation and efficiency improvements.
22. Ensure adherence to policies, procedures, and applicable regulations.

Manage the day-to-day activities of the department.

23. Identify the department's human resources requirements and provide recommendations on levels of rewards, promotions, transfers, and career progressions.
24. Plan and evaluate resource availability or requirements based on employee workload.
25. Define the KPIs of the department and direct reports and periodically analyze their performance.
26. Provide periodic (monthly, quarterly, annually) KPI reporting to the CEO.
27. Address queries and provide support to internal stakeholders (Compliance, Internal Audit, IT, Human Resources, etc.) and external regulatory authorities.
28. Undertake continuous training and certification for skills enhancement and remain updated with market changes related to job responsibilities.
29. Engage with the Head of Human Resources to identify and implement a learning and development (training) program for the Underwriting Department.
30. Perform any ad hoc and additional responsibilities assigned by the Reporting Manager.

JOB QUALIFICATIONS

1. Preferably bachelors degree in mathematics, economics, business administration, accounting, or a related field.
2. Strong analytical and problem-solving skills.
3. Extensive experience in managing large teams.
4. Strong negotiation and presentation skills in Underwriting.
5. High ethical standards, confidentiality, and the ability to develop trusting and effective working relationships with employees and external contacts.
6. Strong computer literacy and proficiency in Microsoft Office programs.
7. Qualified Insurance Foundation Certificate Exam (IFCE).
8. Preferably Chartered Insurance Institute (CII) Designation.

REQUIRED EXPERIENCES

1. 8+ years of experience in handling Underwriting & Reinsurance.
2. 5+ years of experience in a managerial / supervisory position.
3. 3+ years of experience interacting with regulatory authorities.

COMPETENCIES

1. Business Acumen
2. Strong Leadership
3. Risk Assessment
4. Relationship Management
5. Team Coordination
6. Attention to Detail
7. Negotiation and Communication
8. Computer, Database, & ERP Software
9. Interviewing Skills