Head of Bonds Underwriting

2 weeks ago

Makati City, National Capital Region, Philippines BPIMS Insurance Corporation Full time

This position is primarily responsible for the direct supervision and control over the Bonds Unit and all its personnel. Its overall responsibility is also for the efficient administration and management of the Unit which includes Sales, Underwriting, Reinsurance and Claims to ensure the productivity and profitability of the Bonds line.

  • Establishes goals for the Unit and formulates plans and strategies to attain premium production and underwriting targets of the bonds business on monthly and yearly basis
  • Accepts or rejects all bond applications and facultative reinsurance applications within limits of authority, through prudent underwriting and proper acceptance of bond risks to ensure growth and profitability of the bonds business
  • Evaluates and settles all valid and legitimate claims in conformity with the limits of authority and existing company policies to ensure effective management of bond claims and to optimize recovery
  • Conducts client visitations regularly to establish and maintain sound relations with the company's clients, agents, brokers, government agencies, other insurance companies, industry associations and the public in general
  • Supervises the overall operations of the Unit by regularly monitoring turn-around time performance in bond issuance and also telephone answer rate to minimize customer complaint
  • Determines optimal reinsurance program in coordination with RI Unit to enable Sales effort and to ensure reinsurance placement is completed within the agreed turn-around time for bond issuance
  • Manages the overall operations of the Unit through regular meetings and discussions with the staff to ensure that proper controls and monitoring procedures are followed
  • Signs and issues bonds, bills, endorsements, renewal certificates, statements of accounts and other pertinent documents relative to the issuance of bonds
  • Conducts suretyship seminar for employees and agents

QUALIFICATIONS:

  • Must be an Insurance Commission (IC) licensed bond underwriter
  • College graduate, preferably Business Administration with Financial Analysis
  • With experience as Bonds Underwriting in a Managerial role
  • Effective marketing skills necessary in the generation of more bonds business and conservation of existing bonds business
  • Expertise and technical knowledge in bond underwriting, reinsurance and claims
  • Proficiency in the evaluation of all bond applications, as well as in the management and handling of all bond claims
  • Working knowledge of the construction business, trends in the construction industry, and basic economics
  • Working knowledge of basic laws and jurisprudences as regards Bonds and Bond claims
  • Sufficient legal background necessary in the interpretation of contracts relative to bond applications
  • Attendance and completion of various specialized and advanced insurance / suretyship / management courses

Job Type: Full-time

Benefits:

  • Company Christmas gift
  • Company events
  • Health insurance
  • Life insurance

Schedule:

  • 8 hour shift
  • Monday to Friday

Supplemental pay types:

  • Bonus pay
  • Performance bonus
  • Quarterly bonus
  • Yearly bonus

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