Key Responsibilities
- Perform comprehensive review and analysis of the proposals (for issue of Insurance Surety Bonds) to ensure adherence to established policies and standards under Underwriting philosophy.
- Evaluate the Client-Corporates borrower’s creditworthiness and financial stability.
- Identify potential risks and mitigate losses.
- Communicate effectively with internal teams and external clients / agencies to address diligence / compliance / underwriting issues.
- Ensure compliance with regulations of IRDAI.
- Prepare reports summarizing the risks and recommendations.
- Monitor industry trends and updates related to Issue of Surety Bonds and adhere with the changes in the processes.
- Work closely with the underwriting team to resolve proposal processing issues.
Core Competencies/ skills:
A Due Diligence Specialist should possess a unique set of skills and qualifications that are essential in evaluating the risks involved in loan applications, including:
- Strong analytical skills to assess the risk associated with the proposals / applications by examining financial statements, credit ratings / scores, legal documents and other relevant data.
- Excellent attention to detail to ensure all required documents are in order and correctly evaluated.
- Proficiency in relevant financial software and platforms to facilitate efficient due diligence / underwriting processes.
- Proficiency in financial modelling, data analysis tools like Excel and familiarity with regulatory frameworks improve effectiveness.
- Sound knowledge of the relevant Acts / Rules / Regulations.
- Excellent communication skills to liaise effectively with the officials of the Underwriting team, clients, and other relevant parties.
- Decision-making skills to approve proposals / applications or to advise the concerned based on analysed data and company policies.
- Ability to work under pressure and meet tight deadlines, managing multiple proposals / applications simultaneously.
- Customer service skills to professionally and courteously handle client inquiries and concerns.
Qualifications, Age & Experience
- Chartered Accountant (CA) or Company Secretary (CS) or MBA (Finance) preferred.
- Knowledge of AML-KYC regulations and Certification in Due Diligence Process are the additional advantages.
- 2-3 Years of prior experience in banking, corporate finance, audit, or compliance is highly valued. Exposure to processing / sanctioning of Non-Fund Based Limits - Bank Guarantees and issue of Insurance Surety Bonds provides practical insights.
- Analytical mindset with demonstrated success in the due diligence process and proper advise.
Integrity, transparency and commitment to excellence in the key area/s
