Underwriting Manager

6 days ago

Nairobi, Nairobi Area, Kenya Stratostaff East Africa Full time 900,000 - 1,200,000 per year

Job Title: Underwriting Manager

Reports to: Technical Service Manager

Location: Nairobi, Kenya.

JOB PURPOSE

Our client, a reputable player in the insurance industry, seeks an Underwriting Manager to provide support and guidance to the underwriting team by overseeing all aspects of credit approval, credit administration, loan underwriting, and closing for all loan products and portfolio administration and policy
NATURE AND SCOPE
​
Reporting to the Board Risk Committee with a dotted reporting line to the CEO & Principal Officer, the Risk and Compliance Manager is responsible for improving risk management readiness by creating an organizational culture that places high priority on effective risk management and adherence to sound operating controls. The Manager is also responsible for risk training and risk-based performance measurements and evaluations.
Key Responsibilities:
  • Developing, implementing and interpreting departmental policies, procedures and endorsements.
  • Overseeing and assigning tasks to underwriters, underwriting assistants and interns working within the department.
  • Developing policies and methodologies that accesses the company's financial risk
  • Analyzing statistical in order to determine eligible and non- eligible individuals for insurance coverage by assessing clients' background information.
  • Providing support to the underwriting assistants on complex issues upon request.
  • Training and mentoring underwriting professionals on the departmental policies and standard operating procedures with the aim of achieving quality performance.
  • Conducting quality control checks by reviewing policy decisions and insurance proposals from time to time.
  • Analyzing cumulative data about underwriting performance and current risk levels then preparing reports
  • Reviewing insurance premiums based on informed judgment and competitor pricing
  • Organizing meetings with specialists to help determine risk assessment in unique circumstances
  • Allocate underwriting authority to staff, establishing their ability to accept risks, determine pricing and coverages and place reinsurance
  • Develop and execute strategic initiatives that support profit, growth, retention and customer service objectives
  • Assess agency performance and recommend the appointment or cancellation of agents
  • Manage the underwriting team while identifying individual training needs


Requirements QUALIFICATIONS AND EXPERIENCE
  • Holder of a Bachelor's degree in Mathematics, Statistics, Business Administration, Insurance or any other related field from a recognized university.
  • Have at least five (5) years' relevant working experience as an Underwriter
  • A post Graduate professional qualification in Insurance (ACII / AIIK)
  • Should have a sound understanding of reinsurance markets and mechanisms.
  • Should demonstrate highest standards of personal conduct, professional performance and business ethics.
  • Highly developed analytical and reporting skills with excellent communication and presentation skills.
  • Possess leadership skill and ability to work with diverse teams
  • Attention to detail

KEY COMPETENCIES

1. Good analytical skills

2. Excellent decision-making skills

3. Knowledge of the company's products and processes

4. Results-driven

5. Excellent negotiating skills



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