Hang Seng Bank was one of Hong Kong's bancassurance pioneers with insurance business footprint started since 1965. Over the years, Hang Seng Bank has been committed to serve its customers by providing full spectrum of insurance products including Life Insurance manufacturing, distribution of General Insurance and Medical products, and MPF business.
Insurance is a fast-growing business and is one of the key drivers of Hang Seng Bank. As a well-established insurance entity, we take care of every need of our customers with an optimized service excellence through the Bank's retail and commercial network, with a dedicated team of professionals in place.
We are currently seeking a high caliber professional to join our department as Head of Underwriting.
Principal responsibilities:
Insurance is a fast-growing business and is one of the key drivers of Hang Seng Bank. As a well-established insurance entity, we take care of every need of our customers with an optimized service excellence through the Bank's retail and commercial network, with a dedicated team of professionals in place.
We are currently seeking a high caliber professional to join our department as Head of Underwriting.
Principal responsibilities:
- Leading and managing the team of Life Insurance Underwriting, MI and Governance, and transformation project
- Acting as the SME in simplified/full/HNW underwritng decision-maker on all life insurance products
- Driving for customer-centric and digitalization journey by enabling underwriting rules engine for straight through process and leading the change for operational efficiency and the
- Acting as a leader to build up the UW professionalism and to tighten the control in compliance with regulatory requirements and internal policy
- Overseeing the outsourcing parties for proper oversight and governance to act as one single team and to deliver the best-in-class services in market
- Providing sound and informed advice to senior management on establishing and maintaining long term mortality and morbidity targets
- Providing underwriting expertise to support new product development and in-force policy portfolio management
- Formulation and review of underwriting policy, guidelines and manuals in compliance with internal policy and external regulatory requirements
- Acting as a process and control owner to conduct continuous monitoring against all the related risks and controls for areas of improvements and resolution
- Responsible for internal and external third party risk management including discharge of oversight responsibilities, regular performance and control review, contract review, pricing and recommendations to achieve the strategic goals and to ensure the delivery of services as expected
- Striving for streamlining opportunities and operational efficiency
- Ensuring the teams deliver in line with demand statements
- Planning and prioritisation of day-to-day processing across teams
- Establishing targets for a number of teams to meet overall goals in Production Quality and Financial Performance
- Implementation of change programmes as directed by the Functional Manager
- Developing and/or implementing Operating Procedures in accordance with the Business Services Operating Model highlighting any local procedures
Requirements:
University degree in Business Administration, Insurance or related discipline Fellow of the Academy of Life Underwriting, Fellow Life Management Institute, or Chartered Life Underwriter will be highly preferred Minimum of 15 years' experience in life insurance underwriting , and at least five in the High Net Worth market Minimum of 10 years' managerial experience Hold a substantial financial sum insured authority of likely not less than USD 20m Excellent communication, interpersonal, and analytical skills
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