IDB2325 - Underwriter, Commercial Risks (French-speaking)

           Feasibility Assessment

• Liaises with the Senior Underwriter, when required, to assess application/proposal forms submitted by potential customers, country & local sales representatives to collate information required to evaluate the feasibility assessment of potential customers for requested insurance coverage.
• Liaises with the Senior Underwriter, when required, on assessment of buyers’ and banks’ creditworthiness by analyzing financial statements and considers all relevant risk factors (e.g. financial risks, payment experience, etc.) and suggests insurance pricing.
• Follows up on and conducts meetings with exporters, importers and banks as and when required to conduct thorough due diligence and prepares assessment reports.

  Underwriting

• Provides all the necessary assistance to the Manager, Insurance Operations (Commercial Risks) in all underwriting operations pertaining to commercial risks. He or she is responsible for directing the policy portfolio by conducting requisite underwriting analysis to determine the risks associated with potential transactions/projects and obligors.
• Assists in conducting in-depth financial analysis of the involved buyers/importers/importer’s bank through analysis of business plans, financial models, cash flow statements, assets, projected cash flows and other sources of financial information to determine the credit worthiness of the buyer/bank involved in the transaction/project.
• Assists in conducting due diligence by conducting meetings with the obligor to understand various aspects of their business plan, assess value of securities, analyze governance structure of the business etc. to evaluate the potential risk in the transaction/project including risks associated with contract frustration and performance risk.
• Utilizes different sources of information to identify any legal issues associated with the project/transaction/importer and involves the General Legal Counsel in evaluation of default risk from a legal perspective.
• Assists in conducting meetings with local banks, financial authorities and local financial institutions to ensure the due diligence about the transaction/project and buyer /bank is done thoroughly to minimize the risk of claims.
• Liaises with the Manager, Insurance Operations (Commercial Risks) to present insurance applications/proposals to the Technical Underwriting Committee for approval and provides all the facts of the case, as well as his/her point of view in order to assist the Technical Underwriting Committee to take an informed decision.
• Provides inputs on recommended premiums, reinsurance support required and coverage for risks after complete analysis and consideration of the project/transaction documentation, business factors and competition issues.
• Whole turnover policies are well underwritten and satisfactorily maintained to have the renewals of the policies without any issues
• Ensures accuracy of the monthly quarterly declaration submitted by PHs to which invoices are issued in time; reconciles with Accounts and Finance and follow-ups with AMs and PHs on the amount outstanding
• NPLs are well managed and coordinates closely with the claims division in minimizing loss

  Documentation of Approved Deals

• Coordinates with the Manager, Insurance Operations (Commercial Risks), on all aspects related to policy applications such as preparation of non-binding indicative term sheets (NBIs), policy submissions, policy offers, follow up on policy acceptance, declarations and premium invoicing etc.
• Coordinates with the Manager, Insurance Operations (Commercial Risks) on all credit limit applications by timely preparation and completion of the file, credit submission, issuance and cancellations of approvals.
• Documents the approved policy and includes all details pertaining to policy terms, premium, credit limit, coverage etc. to ensure availability of information for reference, as and when required, and manages all aspects of the transaction including submissions to relevant committees using the IMS system.
• Communicates the approved policy to the Country Manager for ensuring effective servicing of all commercial risk policy holders.
• Maintains in good condition all policy / transaction documentation
• Maintains good harmony and coordination with underwriting support staff and involves in knowledge sharing, training and upgrading skills of the underwriting support team.
• He or she is responsible for the entire underwriting process, from application registration to policy issuance and all that is in between. Using the support of the Underwriting Support team, he or she will ensure that the policy documentation is complete and in order.

  Reporting

• Prepares all requisite reports (weekly, monthly, annual etc.) relevant to the customer/policy for review by the Manager, Insurance Operations (Commercial Risks) and other key stakeholders.
• Prepares all statistical information as required by senior management
• Participates in and contributes to the preparation of the annual business plan and budget.

  Other Responsibilities

• The role holder will also perform duties pertinent to the Department/Division/Function as assigned by his Supervisor.

Nature of Experience

• Prior experience in Underwriting or Financial Analysis, preferably in Export Credit Insurance or Banking Industry

Nature of Experience

• Prior experience in Underwriting or Financial Analysis, preferably in Export Credit Insurance or Banking Industry

Generic Key Performance Indicators

• Response time in reverting to customers
• Quality of underwriting
  • Claims Ratio
  • NPLs Outstanding
• Acceptance Ratio
• Premium generated from existing policyholders
• Policies retained and renewed