Director, Regional Underwriting Risk Management

3 weeks ago

mumbai, India Reinsurance Group of America Full time

Position Overview

Responsible for maturing and implementing appropriate and robust underwriting risk management and quality assurance standards. Ensures sound risk management practices through collaboration between Global, Regional and Local office underwriting and cross-functional stakeholders. Ensures RGA’s regional underwriting risk and quality assurance frameworks keep pace with and adequately support all lines of business and future developments in underwriting.

Responsibilities

Underwriting Quality Assurance:

Guide and coordinate planning and timely execution of all regional client quality assurance reviews in consultation with Local Office Chief Underwriters and Quality Assurance (QA) l Mature the client quality assurance process within the region to achieve and maintain satisfactory corporate control and reliance standards. Oversee planning, support, and execution of all Regional internal quality assurance activities, ensuring: Provide expert hands-on assistance, as required, for underwriting quality assurance and audit activities in collaboration with the Global Underwriting, Global Audit or Local Office teams. Ensure the Regional quality assurance framework: keeps pace with and adequately supports developments in electronically underwritten business (through AURA and other e-UW solutions used by RGA’s clients). Work more closely with the Claims function to achieve alignment where possible in conducting and reporting audits.

Underwriting Risk Management:

Develop and implement and improve upon risk controls, incident notification and reporting for the Region. Identify and address underwriting weaknesses and risks which may impact RGA (including skills, experience, resources, processes, and control issues). Develop close interaction with Local Office Underwriting Management to help appropriately identify, manage, and report risk incidents as they occur. Support the Local Office routine risk reporting process. Ensure the adequacy and continuous improvement of all risk controls to manage RGA’s growing portfolio, including identifying appropriate data, process, and infrastructure improvements. Proactively maintain current knowledge of industry and regulatory developments, assisting Local Offices to anticipate and fulfill their compliance obligations. Advocate for appropriate operational and risk management standards; driving change through coordination, rollout, and adoption at the Local Office level of all improvements.

Overarching Responsibilities:

Engage with cross-functional stakeholders especially Claims within RGA (including Administration Operations, Claims, IT, Audit, Risk, Compliance and Legal) to ensure current and future work is aligned to meet the business’s best interests. Maintain regular connection with the Global Underwriting team, particularly the AVP, Head of Global Underwriting Technical Development, Competitiveness & Quality, and team, to ensure effective coordination and alignment of priorities. Ensure RGA’s regional underwriting risk management and quality assurance frameworks keep pace with and adequately support all lines of business and future developments in underwriting. Provide guidance and training to Regional and Local Office teams regarding the underwriting quality assurance process and risk management concepts.

Requirements

Education and Experience

Required:

Bachelors degree and 10+ years insurance industry experience Significant underwriting quality assurance experience Broad cross-functional and multi-product experience (mortality and non-mortality business knowledge)

Preferred:

Graduate degree and/or relevant professional experience Multi-country underwriting experience 5+ years reinsurance experience Additional language abilities, other than English, a distinct advantage.

Skills and Abilities

Required:

Excellent understanding of underwriting standards, risk controls, quality, and risk assurance principles. Demonstratable understanding of the broader reinsurance business – including pricing, product, treaties, retro, claims and administration and how they interact with underwriting. Ability to identify opportunities for continuous improvement and to maintain and implement processes and procedures globally. Demonstratable, in-depth understanding of difference in underwriting practices, processes, and systems globally. Advanced MS Office skills Ability to comprehend and interpret insurance documents. Excellent oral and written communication and presentation skills, demonstrating the ability to convey business terminology that is meaningful and well received by stakeholders. Excellent persuasion skills when working with internal partners and external customers to resolve issues/problems. Expertise in implementing change, ensuring understanding, participation, and ownership. Highly advanced investigative, analytical, and problem-solving skills utilising experience, research, guideline, and internal resources. Well organised with ability to manage multiple tasks or projects simultaneously, including the ability to handle changing priorities. Expert ability to analyse and recommend improvements to business processes. Exceptional ability to play an active role in developing and actioning departmental vision and goals through collaboration, creative thinking, persistence, even under adversity, while maintaining the confidence of stakeholders. Exceptional ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines. Exceptional ability to work well within a team and to foster teamwork. Ability to work online and accommodate peers in all time zones. Ability to travel as required. Excellent spoken and written language skills.

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