Associate Underwriter | Policy Support Specialist

2 weeks ago

Jeddah, Makkah Province, Saudi Arabia beBee Careers Full time
Policy Support Specialist

The Policy Support Specialist plays a crucial role in ensuring the smooth operation of the underwriting process. This includes obtaining and reviewing financial information, credit reports, and other relevant data to assess compliance risk, commercial risk, political risk, and sector risk for corporates, banks, and projects.

This role involves assisting Underwriters with underwriting activities, reviewing financial information, drafting policy changes, and maintaining standardized product documentation. The Policy Support Specialist also assists in managing day-to-day operations of the Underwriting Support Function (USF) to ensure it meets its mandates.

Credit Information Operations
  • Manage credit information sources to optimize cost and enhance efficiency.
  • Gather credit information on buyers and banks and complete files for risk assessment.
  • Participate in developing and maintaining databases of basic information on counterparty entities.
  • Register and process credit limit applications for various insurance products in a timely manner.
  • Create and manage folders for buyers, banks, and policies to store relevant documents.
  • Update information about buyers/importers/financial institutions periodically.
  • Identify new sources for credit information by exploring third-party online and offline databases.
  • Ensure maximum utilization of free information sources and recommend participation in agreements with information providers.
  • Conduct questionnaires and analyze feedback from Underwriters and end-users.
Policy Management
  • Record incoming policy applications and other documents.
  • Assist Underwriters in administrative processes related to policies, including registration and scanning of documents.
  • Enter application details accurately and issue individual credit limits and policies to policyholders.
  • Ensure adherence to guidelines for registering applications with credit limits and premium calculations.
  • Verify declarations received from policyholders and generate invoices.
  • Reconcile statements of account with PH and Accounts & Finance.
  • Coordinate with account managers to reduce receivables from policyholders.
  • Process policy application stages for all types of insurance products.
  • Invoice premiums and fees, including follow-up and verification of declarations.
  • Handle reconciliation with finance and participate in collecting account receivables.
  • Maintain documents in IIMS with proper file naming.
Underwriting Operations
  • Support Underwriters in managing policies' administrative processes, including issuing policy amendments.
  • Prepare summaries of credit information reports, sector reports, and financial statement summaries.
  • Draft underwriting submissions for the underwriting committee.
  • Coordinate with teams to receive KYC and compliance clearance.
  • Attend due diligence meetings and provide summaries of gathered information.
  • Prepare policy performance reports during renewals and propose changes to policy terms and conditions.
  • Follow up on non-performing loans with Claims and Recovery.

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