Director, New Business & Underwriting

Director, New Business & Underwriting

Manulife - Agnes Yung
Vietnam
10 - 13 Years
Not Specified

Job Description


Are you looking for unlimited opportunities to develop and succeed With work that challenges and makes a difference, within a flexible and supportive environment, we can help our customers achieve their dreams and aspirations.
Job Description
Head of NBUW reports to Buy Value Stream Owner and is responsible for managing and supervising NBUW Department.
The major responsibilities include building a strong UW service in NB department across the Company; ensuring that the Company achieves industry leading UW standards measured against competitors’ benchmarks; meeting or exceeding service expectation of policyholders and all other distribution channels. These objectives are to be achieved with improved productivity, unit costs and strong compliance with all corporate and regulatory requirements.
In addition to the above, Head of NBUW will also be assigned special projects from time to time. She has to introduce initiatives to increase productivity and TAT
Duties and Responsibilities:
1. Oversees the research, development and implementation of all underwriting initiatives to ensure that Manulife maintains a competitive edge without sacrificing mortality or morbidity results. This includes:
  • Collaborating with Pricing and Product Development
  • Consulting with the Medical Director or Consultant, Claims, Legal and Compliance and other interested parties as appropriate
  • Collaborating with Pricing Officer to obtain the appropriate approval within the business unit and from Divisional and Corporate Risk Management for material underwriting initiatives

2. Oversees Underwriting’s participation in product development to ensure that any underwriting concerns are raised and that underwriting practices are appropriate to the product’s target markets and pricing assumptions.
3. Ensures that the business unit’s approved retention limits per life are not exceeded.
4. Ensures that the Underwriting and Claims Management Policy and the Underwriting Standards set out in the Product Risk Management Manual are implemented within the business unit, where applicable. The implementation includes developing more detailed underwriting practices and procedures that are appropriate for the business unit’s specific business. Also, ensures underwriters compliance with the detailed underwriting practices and procedures.
5. Provides leadership and direction in the hiring, professional development and training of the underwriting staff in order to develop the necessary expertise to make Manulife a leader in assessing individual insurance risks:
  • Ensures enough internal training opportunities exist to maintain and grow underwriting as a core competency within the business unit
  • Responsible for ensuring that on the job mentoring is in place for the underwriters in order to develop future generation of underwriting leaders within the business unit and within Manulife
  • Oversees development, reviews and approves business unit specific training programs for the underwriters. Ensures that the training program is consistent with the standards agreed upon with Underwriting Risk Management and the Underwriting Risk Committee
  • Ensures that underwriters are rewarded and compensated appropriately

6. Responsible for determining appropriate levels of underwriting approval limits for all lines of business. This includes recommending changes to the maximum approval limits for any level of underwriter to Underwriting & Claims Risk Management. Also, responsible for delegating approval limits to each underwriter based on established criteria. The Head of NBUW has the highest approval authority available within the business unit for each product line.
7. Responsible for the internal audit process of the Underwriting Department, ensuring that the audits are conducted in accordance with standards agreed upon with Underwriting & Claims Risk Management and the Underwriting & Claims Risk Committee. Semi-annually, reports audit findings and trends to Underwriting & Claims Risk Management.
8. Keeps abreast of emerging issues/trends and regulatory changes that impact underwriting revising detailed underwriting guidelines as necessary. Ensures that underwriters are made aware of such changes and comply with them.
9. Shares with Underwriting & Claims Risk Management and the Underwriting & Claims Risk Committee underwriting fraud situations and where available and applicable, will share findings such as the operations and financial impact of them, the lessons learned from them and the actions taken within the business unit.
10. Completes and submits the annual Underwriting Self-Assessment Questionnaire.
11. Develops and maintains excellent relationships with distribution partners in order to enhance and promote Manulife’s strengths including underwriting as a core competency.
Requirements:
  • Bachelor Degree
  • FALU, FLMI.
  • Extensive knowledge and experience in all aspects of risk assessment – medical, non-medical, financial, legal and compliance
  • Operational management background
  • Relationship management skills, internal and external
  • Generally, need 10+ years of underwriting experience
  • Leadership and good communication skills
  • Independent and can work under pressure
  • negotiating and influencing skills
  • Excellent presentations skills
  • Ability to interact and deal with people at all levels
  • Proficiency In MS Office

If you are ready to unleash your potential, it’s time to start your career with Manulife/John Hancock.
About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2019, we had more than 35,000 employees, over 98,000 agents, and thousands of distribution partners, serving almost 30 million customers. As of March 31, 2020, we had $1.2 trillion (US$0.8 trillion) in assets under management and administration, and in the previous 12 months we made $30.4 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as MFC on the Toronto, New York, and the Philippine stock exchanges and under 945 in Hong Kong.
Manulife is an equal opportunity employer. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention and advancement and we administer all of our practices and programs based on qualification and performance and without discrimination on any protected ground. It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request any accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2019, we had more than 35,000 employees, over 98,000 agents, and thousands of distribution partners, serving almost 30 million customers. As of March 31, 2020, we had $1.2 trillion (US$0.8 trillion) in assets under management and administration, and in the previous 12 months we made $30.4 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. Manulife is an equal opportunity employer. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention and advancement and we administer all of our practices and programs based on qualification and performance and without discrimination on any protected ground. It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request any accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.

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