MaxLife - Chief Mgr - Ops - Underwriting/Risk

Max Life - Chief Manager - Operations (Underwriting Risk Management Unit)

KEY RESPONSIBILITY AREA:

Risk Management:

- Responsible for the entire gamut of activities of Underwriting Risk Management Unit. (URMU) within Underwriting (operations)

- Ensure due diligence in underwriting risk management practices to ensure mortality assumptions stay on track

- Manage and deliver on all Mortality Control initiatives as agreed from time to time.

- Highlight risk findings and suggest actions for underwriting, operations, distributor behaviour; Investigation / Verification agencies, Third Party Administrators and customers as applicable

- Conduct regular data analytics and make recommendations towards managing the mortality experience.

- Liaison with different stakeholders ( Distribution standard; Compliance; Claims; New business; Fraud Control Unit; Field Ops ) and ensure end to end resolution of specific issues

- Continuous research of evolving risk trends within organisation and across the line of business

- Ongoing industry benchmarking to know key players; agencies and understand / leverage best practices

Operations Management

- Manage day to day operations involving investigating agencies - case placement; follow-ups; productivity ; TAT, Cost

- Continuous evaluation of various investigation agencies- identification; Footprints; strength; weakness. Manage & strengthen relationship with Vendors/ Agencies/ TPA / Consultants

- Review and negotiate to ensure cost optimisation

- Manage day to day operations involving outsourced vendors- productivity to meet process deliverables

- Ensure operational readiness and scale up based on business volumes

- Undertake projects/ Initiatives for productivity improvement and efficient risk controls

- Develop strong process controls

- Timely dissemination of MIS , Dashboards and reports

- Monitor leakage and business metric and bring in guidelines / process changes to reduce the same

- Create robust Process & tracking mechanism to ensure resolution to any escalation.

- Establish a mechanism for timely and comprehensive resolution of customer queries and issues

Process Control and Compliance

- Document and ensure compliance of all SOPs on the final processes and subsequent modifications

- Ensure adherence to all regulatory requirements

- Ensure robust and regular QC on all processes.

- Report all complications and exceptions

- Ensure internal and external audit findings are completed/ closed within agreed timeline.

Portfolio analysis & Systems

- Develop systems for efficient risk management

- Ensure continuous monitoring & improvement in key business metrics like hit rate; investigation quality; ongoing feedback to agencies and consequence management

- Liason and support data requirement of cross functional team related to risk management.

- Ensure timely system updation

People Management –

- Resource planning, hiring and retention of key talent

- Identifying training needs; nomination and compliance to training programmes/ internal and external professional exams

- Enhance the knowledge and skills across department