Manager – Risk Transfer

Job Purpose

To assist in procuring new insurance coverage based on the bank’s operational and risk needs, manage insurance claims, and handle renewals of existing insurance policies in alignment with management directives and approvals.

Key Responsibilities

• Claims Management:
  Assess potential insurance claims by gathering and analyzing relevant data. Prepare claim documentation, coordinate with the Manager and Legal team for review, and ensure accuracy in submissions.
• Legal Coordination:
  Liaise with the Legal department on lodged insurance cases and potential claims to ensure proper documentation and follow-up.
• Internal Collaboration:
  Work closely with Audit and other relevant departments to obtain investigation reports and supporting documents for current or anticipated claims.
• Documentation Handling:
  Customize investigation reports as needed—without altering factual content—for submission to insurers or other stakeholders.
• Stakeholder Communication:
  Act as a central point of contact between the bank and external insurance stakeholders, including insurance companies, brokers, loss adjusters, and reinsurers. Ensure clear, timely, and effective communication to protect the bank’s interests.
• Policy Management:
  Support the Insurance Manager in evaluating and securing new insurance coverage. Assist with the timely renewal of existing policies in line with internal approvals.
• Reporting & MIS:
  Ensure all insurance-related management information systems (MIS) are accurate, comprehensive, and regularly updated for internal reporting and audit purposes.

Competencies and Skills

• Strong knowledge of insurance principles, particularly within the financial services sector
• Excellent communication and coordination skills across internal and external stakeholders
• Analytical mindset with attention to detail
• Familiarity with claims processing, risk assessment, and financial documentation
• Ability to manage multiple tasks and deadlines efficiently
• High level of integrity and discretion in handling sensitive information

Qualifications

• Education:
  Bachelor’s degree (minimum) in Finance, Risk Management, Insurance, Business Administration, or a related field.
• Work Experience:
  6–8 years of professional experience within financial institutions or auditing firms, preferably in areas such as branch operations, audit, consulting, or risk management. Prior experience in insurance handling is highly desirable.