Underwriting Manager

The Underwriting Manager is responsible for leading the general insurance operations by developing and implementing Underwriting strategies to achieve sustainable growth and profitability objectives.

Our client in the Insurance industry is seeking to onboard an Underwriting Manager in the Port of Spain area.


Job Summary:
The Underwriting Manager is responsible for leading the general insurance operations by developing and implementing Underwriting strategies to achieve sustainable growth and profitability objectives. The incumbent should be able to foresee developing industry trends and redefine strategies in accordance with Underwriting guidelines and other legal and statutory requirements.


Principal Duties and Responsibilities:

Operations

• Contributes to discussions with Reinsurers and/or Reinsurance Brokers and the development of Reinsurance programs.
• Regularly assesses portfolios/ reinsurance to ensure proper underwriting standards are being met.
• Prepares and achieves objectives in annual budget and business plan, examining trends and identifying targets for New Business, Renewal Retention, Projected Loss Ratio and Underwriting Profit.
• Determines quality and mix of the portfolios in all classes of business and in all the company’s operations to achieve established profitability targets.
• Meets and liaises with Brokers, Agents, and other intermediaries to expand network, build confidence, maintain sound relationships, and achieve set targets.
• Contributes to product and business development initiatives.
• Provides technical expertise to Premier Insurance Company Inc

Compliance

• Ensures all legal, regulatory, and statutory requirements are met through diligent monitoring and use of robust systems.
• Responsible for continuous improvement and utilization of systems and controls to ensure that risk management, compliance and service objectives are continuously met.
• Adheres to Anti-Money Laundering Policies.

Reporting and Analytics

• Reviews and makes recommendations on Underwriting policies and wordings to ensure that they are relevant and adequate.
• Provides accurate and timely information as required for management meetings, Reinsurers, Regulators, Auditors, and all other Stakeholders.
• Monitors weekly, monthly, and quarterly reports and uses information to inform corrective action where required.
• Prepares forecasts based on analyses of market trends and business performance; produces information and reports to guide executive decision making and makes recommendations where necessary.
• Maintains hard copy and electronic filing systems to facilitate easy retrieval and proper record keeping in-keeping with the company’s legal and regulatory requirements throughout the company

People Management

• Supports, fosters, and drives a culture focused on employee development to provide high-potential employees with the opportunity to develop, while supporting the business needs and ensures proper recognition of employee contribution across the Underwriting Department.
• Manages and develops human resources to facilitate the continued improvement of the department, the accomplishment of individual goals and promotes service excellence; establishment of KPIs for effective measurement of department/ employee performance.
• Conducts performance management activities and participates in related Human Resource initiatives.
• Supports the development and maintenance of a team environment by performing other related duties.

Role Specific Competencies:

Influence and Negotiation

• Negotiates from an informed and credible position.
• Leads and facilitates productive discussions with staff and stakeholders.
• Encourage others to talk, share and debate ideas to achieve a consensus.
• Recognizes and explains the need for compromise.
• Influences others with a fair and considered approach and sound arguments.
• Shows sensitivity and understanding in resolving conflicts and differences.
• Manages challenging relations with internal and external stakeholders.
• Pre-empts and minimizes conflict.

Communication:

• Communicates and disseminates relevant, accurate and timely information; both oral and written.
• Cooperates with others, resolves issues that may hinder relationships, uses a high level of emotional intelligence, and refrains from gossip or negative and divisive communication.
• Listens actively and provides timely feedback and information.

Problem Solving:

• Researches and analyzes information, identifies interrelationships, and makes recommendations based on relevant evidence.
• Anticipates, identifies, and addresses issues and potential problems and selects the most effective solutions from a range of options.
• Participates in and contribute to team/unit initiatives to resolve common issues or barriers to effectiveness.
• Identifies and shares business process improvements.

People Management and Development

• Ensures roles and responsibilities are clearly communicated.
• Collaborates on the establishment of clear performance standards and deadlines in line with established performance development frameworks.
• Develops team capability, recognizes, and develops potential in people.
• Is constructive and builds on strengths when giving feedback.
• Identifies and acts on opportunities to provide coaching and mentoring.
• Recognizes performance issues that need to be addressed and works toward resolution of issues.

Integrity

• Represents the organization in an honest, ethical, and professional way and encourages others to do same.
• Demonstrates professionalism to support a culture of integrity within the team/unit.
• Sets an example for others to follow and identify and explain ethical issues.
• Ensures that others understand the legislation and policy framework within which they operate.
• Acts to prevent and report misconduct, illegal and inappropriate behavior.

Planning and Organization:

• Proactively plans, organizes, and delivers work/achieve goals or targets.
• Resolves complex issues and implements effective solutions.
• Generates strategic and creative solutions.

Resilience and Courage

• Demonstrates flexibility and use of initiative by responding quickly to situational changes.
• Listens when ideas are challenged, seeks to understand the nature of the criticism, and responds constructively.
• Raises work standards by challenging issues and seeking alternatives.
• Gives open and honest advice and feedback.
• Keeps control of own emotions and stays calm under pressure and in challenging situations.

Strategic Leadership:

• Recruits common understanding of and commitment to strategic goals across the organization’s levels and boundaries and clearly states purpose and rationale for action proposed.
• Think through future implications and weigh benefits and risks associated with potential actions while taking into consideration the impact it may have on those who may be directly affected.
• Identifies the critical factors that block or hinder improved organizational performance and/or customer service.
• Ties individual goals and tasks to the organization’s objectives to help employees view their work and contributions as important, fostering necessary performance investment.
• Clearly articulates the company’s vision and translates it into day-to-day practices.

Strategic Orientation:

• Understands own role in achieving team's organizational goals. Aligns day-to-day actions and resources with team's organizational issues and opportunities and makes changes to better address larger organizational strategies.
• Takes initiative to collaborate with the management team, board members and other stakeholders to shape the strategic direction of the company.
• Actively addresses long-term issues, opportunities, and internal forces affecting the company in relation to the external environment. Champions development of proactive strategies and uses strategic alliances to extend the boundaries and impact of the department.

Project Management

• Prepares clear project proposals and defines scope and goals in measurable terms.
• Establishes performance outcomes and measures for key project goals, and define monitoring, reporting and communication requirements.
• Prepares accurate estimates of costs and resources required for more complex projects.
• Communicates the project strategy and its expected benefits to others.
• Monitors the completion of project milestones against goals and initiate amendments where necessary.
• Evaluates progress and identify improvements to inform future projects.

Qualifications and Experience:

• ACII, CPCU or equivalent tertiary level qualification in a related field.
• 7-10 years relevant industry and role experience.