Risk Management Specialist

5 days ago


Jeddah, Makkah Province, Saudi Arabia MINDFREE Consulting | Insurance Talent Hub Full time
Role Summary

MINDFREE Consulting | Insurance Talent Hub is seeking a highly skilled Technical Director to lead our underwriting function. The successful candidate will be responsible for developing and implementing underwriting strategies, managing the underwriting, reinsurance, and operations team, and collaborating with key stakeholders to drive business growth and profitability.

About the Position
  1. The Technical Director will provide expert guidance and leadership to the underwriting, reinsurance, and operations team, ensuring that all activities are conducted in accordance with regulatory requirements.
  2. They will leverage their expertise in risk assessment and financial modeling to inform high-level product decisions and drive business growth.
  3. The ideal candidate will possess strong analytical, communication, and leadership skills, as well as experience in managing cross-functional teams and collaborating with external partners.
Key Accountabilities
  1. Develop and execute underwriting strategies that align with business objectives.
  2. Manage the Reinsurance function, ensuring timely follow-up with the reinsurance team and effective management of reinsurance relationships.
  3. Collaborate with the Technical & Operations department to set objectives and strategies that drive business growth and profitability.
  4. Provide guidance and mentorship to team members, promoting a culture of innovation and excellence.
  5. Leverage technology to optimize internal operations and improve strategic outcomes.
  6. Oversee the underwriting process, ensuring accurate risk assessment and pricing, and effective acceptance of Marine, Health, Group Life, Property, Engineering, Motor, and General Accident-related insurance risks.
  7. Establish and maintain a robust governance framework for Underwriting, including underwriting authorities, manuals, and quality assurance reviews.
  8. Develop and maintain Underwriting Policies and Procedures, Strategy, and recommend business plans for profitable business growth.
  9. Foster partnerships with Heads of Claims, Chief Commercial Officer, Reinsurance Manager, and other relevant stakeholders to drive business growth and profitability.
  10. Support product development and market expansion initiatives, leveraging expertise in risk assessment and financial modeling.
  11. Collaborate with the Actuary to monitor the pricing of Motor and Medical Insurance Products.
  12. Promote a culture of continuous learning and development, nurturing and growing the team.
  13. Ensure compliance with regulatory obligations and maintain a high level of integrity in all underwriting activities.
  14. Analyze trends and performance metrics, identifying areas for improvement and opportunities for growth.
  15. Monitor employee turnover ratios (attrition rate) and work closely with the Head of Human Resources to address any issues.
  16. Regularly review and enhance processes, technology, and systems, driving automation and efficiency improvements.
  17. Ensure adherence to policies, procedures, and applicable regulations.


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