IDB3390 – Senior Underwriter (Sovereign Risks)

JOB PURPOSE:

The role holder is responsible for providing all the necessary support and assistance to the Associate Manager, Operations (Sovereign Risks) in all underwriting operations pertaining to short-term, medium term and FII risks. He or she will analyze and screen applications/proposals, performing all requisite risk analysis (including financial analysis and project due diligence), managing credit limit applications, documentation of all approved policies and timely preparation of all requisite reports.Thisroleisalsoresponsibleforpresentingallinformationanddatacollatedabouttheproject/transactionandpotential customers to the Technical Underwriting Committee, NPLs, and Claims Committees to assist in making informed decisions. The role holder will provide inputs to the policy administration database to ensure effective management of policies and safeguarding the Corporation’s financial health. The role holder will also be responsible for the entire underwriting process, from application registration to policy issuance and policy administration and renewals throughout the policy period.

KEY RESPONSIBILITIES:

FeasibilityAssessment

• Assesses submitted application/proposal forms and coordinates with applicants and Business Development Department (BDD) colleagues, to collate information required to evaluate and assess the sovereign risk / State- Owned Enterprise (SOE) Risk, the projects/transaction risks and the related parties in relation to the requested insurance coverage.

• Coordinates with other relevant departments/divisions/functions in the Corporation, including Legal, Risk Management and Reinsurance to ensure eligibility of the transaction, conformity with ICIEC’s risk appetite and guidelines, and availability of capacity and reinsurance support, respectively.

• Conducts meetings with investors, project companies and all related parties to conduct thorough due diligence and prepares assessment reports to finalize the underwriting submission document.

Underwriting

• Provides all the necessary assistance to the Associate Manager, Operations (Sovereign Risks) in all underwriting operations pertaining to sovereign risks underwriting and in directing the insurance portfolio.

• Conducts due diligence missions to the host country, meeting with the relevant government bodies (Ministry of Finance, Central Bank, other relevant ministries and government authorities to the project/transaction), parties involved in the project/transaction including the obligor.

• Conductsin-depthfinancialanalysisoftheprojects/transactionsandallinvolvedsovereign,sub-sovereignorprivate parties, in relation to the covered risks including political and economic instability risks, currency volatility, payment default, market risks, operational risks etc.

• Utilizes different sources of information to identify any legal issues associated with the project/transaction’ structure and documentation, involving the Legal Department.

• Presents insurance proposals to the Pre-Technical Underwriting Committee (Pre-TUC) for clearance and to the Technical Underwriting Committee (TUC) for approval, providing all the facts of the case, as well as a detailed risk assessment to assist the 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 applicant documentation, business factors and competition issues.

JOB REQUIREMENTS:

GENERIC KEY PERFORMANCE INDICATORS:

• Responsetimeinrevertingtocustomers

• Qualityofunderwriting

  • ClaimsRatio

  • NPLsOutstanding

• AcceptanceRatio

• Premium generated from existing policyholders

COMPETENCIES: