Spec Support Underwriting

1 month ago

Bengaluru, India Empower Retirement Full time

Grow your career with a growing organization

Whether they’re helping people reach their long-term financial goals or providing personal wealth management strategies, every associate contributes to changing the lives of those we serve for the better. When it comes to job satisfaction, that’s hard to beat. And from a personal satisfaction perspective, you’ll enjoy the freedom to support causes that matter to you and experience a truly inclusive work environment. Your future starts now.

Canada Life servesthe financial security needs of more than 13 million people across Canada, with additional operations in Europe and the United States. As members of the Power Financial Corporation group of companies, we’re one of Canada’s leading insurers with interests in life insurance, Health insurance, Investment, and Retirement savings. We offer a broad portfolio of financial and benefit plan solutions for Individuals, Families, Businesses, and Organizations.

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The Group Underwriting department is responsible for assessing the risk and making decisions associated with the sale and pricing of an employer benefits plan, amendments to that plan and the annual renewal of the plan. And, at times, provide annual financial reports to clients about their plan.
The Underwriting Support Specialist supports Group Underwriters by compiling information from various systems/reports into renewal analysis tools and financial report tools, plus manual rate calculations and maintenance of the premium rates on Canada Life billing systems. They perform validation of the information gathered and deliver output to the Underwriter.

This role is to support the work of the Canadian Underwriting team.

ESSENTIAL FUNCTIONS:

Manual Rate Calculations and Premium Rate Coding:
• Check employee data received from the Plan Sponsor for reasonableness and accuracy then manipulate it for import into the ARC tool.
• Calculate manual rates for each renewal and perform analysis on the change in a group’s manual rate year over year.
• Prepare on demand manual rate calculations to respond to Plan Sponsor queries on proposed plan changes.
• Update billing systems when renewal rates are sold and update MIS tool.
• Monitor the Support Team Mailbox – where on demand requests and sold renewal confirmations are sent by Underwriters.

Renewal and Financial Preparation:
• Check premium, claims, rates, and reserves for accuracy and reasonableness.
• Identify erroneous data and coordinate with partner departments to fix the data.
• Prepare the renewal analyses, rate exhibits and listings that are part of the package delivered to the Plan Sponsor by the Underwriter and the Account Executive.
• Prepare the financial report that will be provided to the Plan Sponsor. Tasks related to the financial report directly impact corporate accounting systems.
• Assist with non-standard on demand reporting and financial estimates.
• Assist with preparing monthly/quarterly/annual scheduled reporting.

QUALIFICATIONS:
• Degree in Business, Finance, or similar field strongly preferred.
• 1-3 years of experience, graduates with great attitude and excellent academic background 
• You are curious and inquisitive. You love math
• You get energized when you work in partnership with team members and many internal business areas, and you do this with your excellent interpersonal skills.
• You are highly proficient with Excel and easily learn new tools and applications.
• Your verbal and written communication skills are both effective and efficient.
• You are a driver who has ability to meet tight deadlines, work under pressure, and prioritize multiple tasks and shifting priorities.
• You are a critical thinker who can problem-solve and make good decisions when working with incomplete information.
• You understand what it means to put the customer first. That is, put the customer at the center of what we do.
 

This job description is not intended to be an exhaustive list of all duties, responsibilities and qualifications of the job. The employer has the right to revise this job description at any time. You will be evaluated in part based on your performance of the responsibilities and/or tasks listed in this job description. You may be required perform other duties that are not included on this job description. The job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.

We are an equal opportunity employer with a commitment to diversity. All individuals, regardless of personal characteristics, are encouraged to apply. All qualified applicants will receive consideration for employment without regard to age, race, color, national origin, ancestry, sex, sexual orientation, gender, gender identity, gender expression, marital status, pregnancy, religion, physical or mental disability, military or veteran status, genetic information, or any other status protected by applicable state or local law. 

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