Underwriting Manager

Job Purpose Responsible for planning, directing and overseeing the accurate and prompt risk evaluation, classification and acceptance of new business within the set underwriting guideline and service standards with compliance to applicable relevant regulations towards the achievement of its strategic goals. Critical Accountabilities Key Result Areas Major Activities Output Challenges and Risks Operational Management Establishes underwriting processes and guidelines and ensures accurate risk evaluation, classification, and acceptance within the set turnaround time Communicates with and seek reinsurer’s approval on various underwriting endeavors Implement activities that will increase approval rate for new business Partners with the distribution channel to help grow the business Develop Underwriting Training Modules for Distributors and Underwriters Contribution to the achievement of NBI, persistency targets Prompt and accurate risk evaluation Number of issued policies Acceptance of new business within set risk criteria as dictated by Company and reinsurers Develop/Conduct UW training modules Improved distribution satisfaction rating Stretched working hours especially during cut-off Managing volume Meeting TAT Workforce Management Manage the performance of the team and the individual team members; conduct coaching and put in place corrective action plan/s for non/under performance Plan and allocate resources to effectively staff and accomplish the work to meet departmental productivity and quality goals High performing team Managing underperformance Staff turnover Staff Development Provide career planning, development planning and opportunities for team members Lead employees using a performance management and development process that provides an overall context and framework to encourage employee contribution and includes goal setting, feedback, performance development planning, and disciplinary action, when necessary Employee engagement Keeping staff motivated Stakeholder Management Manage relationships / agreements with customers, internal and external. Respond to escalated queries / concerns from customers, internal and external Communicate with customers, other parties on sensitive matters in a timely and effective manner Ensures prompt feedback on the status of new business applications to support distributors to facilitate new business applications Customer satisfaction Handling difficult customers Quality Management Regularly reviews the internal Standard Operating Procedures for the Unit. Recommend updates, as necessary Ensures the development and implementation of departmental policies and procedures are completed Conduct annual close file review / technical underwriting audit of new business cases approved by supervisors. Review and update UW guidelines processes on a regular basis Conduct trainings and learning sessions with the distribution channels Non-adherence may lead to audit findings Others Maybe assigned to participate om AdHoc projects for system and process improvements, if any Performs other related tasks, as maybe assigned, from time to time Key Decisions/Dimensions Decisions Decisions Quantifiable Data Related to Job Development and implementation of underwriting guidelines Approval of large cases Make decisions in addressing minor and complex problems affecting own unit or other units Recommend course of action to Immediate Head in addressing major issues, handling exceptions/deviations Turn Around Time – 2 days for non-med / 4 days for medical / 11 days for reinsured cases Underwriting Authority limits: Up to 50M Graduate of a 4-year Bachelor’s degree, preferably with a medical background Minimum 10 years of experience in life insurance underwriting Minimum 5 years of experience in managerial/supervisory capacity FLMI Designation Passed at least one ALU (Academy Life Underwriting) exam Personal Characteristics/Behaviors Other Requirements Performance management Project management Coaching Quality management Results driven Foster teamwork Handles pressure Giving feedback Presentation skills Oral and written communication Computer knowledge, Microsoft office #J-18808-Ljbffr