Internal Audit-Insurance-Immediate Joinee

Role & responsibilities

Key Responsibilities:

• Conduct thorough audits of new and renewal insurance policies, reviewing underwriting files for accuracy, completeness, and compliance with established guidelines.
• Analyze underwriting data, including financial information, risk assessments, and supporting documentation, to identify potential issues and areas of concern.
• Assess the quality of underwriting decisions made by underwriters, evaluating the rationale behind risk selection and premium calculations.
• Identify trends and patterns in underwriting practices that may indicate systemic risks or non-compliance.
• Prepare detailed audit reports outlining findings, including specific examples of non-compliance, potential risks, and actionable recommendations for improvement.
• Communicate audit results to relevant stakeholders, including underwriting management, compliance officers, and product teams.
• Collaborate with underwriting leadership to develop corrective action plans to address identified issues.
• Track and monitor the implementation of corrective actions to ensure ongoing improvement in underwriting quality.
• Participate in the review and update of underwriting guidelines, policies, and procedures to reflect regulatory changes and market dynamics.
• Provide input on new underwriting tools and technologies to enhance risk assessment capabilities.
• Contribute to the development of training materials for underwriters based on audit findings and best practices.
• Stay abreast of regulatory changes impacting the insurance industry and ensure underwriting practices are compliant with relevant laws and regulations.
• Identify potential compliance risks within the underwriting process and escalate concerns to appropriate management.

Qualifications:

• Bachelor's degree in business, finance, or a related field.
• Minimum of 3 years of experience in insurance underwriting, with a strong understanding of various insurance lines and risk assessment methodologies.
• Proven analytical and problem-solving skills with the ability to identify complex issues and develop practical solutions.
• Excellent communication and interpersonal skills to effectively collaborate with diverse stakeholders.
• Strong attention to detail, accuracy, and ability to work independently and as part of a team.
• Proficiency in ,Advanced Excel Microsoft Office Suite and underwriting software applications.
• Insurance industry certifications

Preferred candidate profile

Immediate Joinee is Prefered

Proficiency in Advanced Excel Manadatory

Perks and benefits