Risk Control Consultant

Job Description

Job Description: We are seeking a motivated and experienced Candidate for our Risk Control Unit, responsible for assessing individual and portfolio risks across the underwriting, post-underwriting, and claims stages. The ideal candidate will have a strong analytical mindset, a thorough understanding of risk management processes, and the ability to identify potential risks and recommend risk mitigation strategies. You will work closely with the underwriting and claims teams to ensure the risk management process is effective, efficient, and compliant. Key Responsibilities: 1. Underwriting Risk Assessment: Conduct thorough risk assessments on individual policies and portfolios at the underwriting stage. Evaluate risk exposure and provide recommendations to mitigate potential risks. Ensure that underwriting decisions align with the companys risk appetite and policies. Collaborate with the underwriting team to suggest appropriate risk mitigation measures for specific policies. 2. Post-Underwriting Risk Monitoring: Continuously monitor and assess risks post-underwriting, ensuring compliance with the terms and conditions set during underwriting. Identify emerging risks from portfolio performance, providing timely reports and recommendations. Ensure proper documentation of risk assessments and mitigation actions in underwriting records. Work with the underwriting team to address and resolve any discrepancies or risk-related issues post-issuance. 3. Claims Stage Risk Evaluation: Assess claims to identify potential risk patterns, irregularities, and trends. Ensure that claims are processed in accordance with the companys risk management guidelines and policies. Evaluate large or complex claims and work closely with claims adjusters to manage risk exposure. Recommend strategies to reduce the occurrence of high-risk claims and minimize overall portfolio risk. 4. Reporting & Documentation: Prepare detailed risk assessments and reports for management and stakeholders. Track risk metrics and report on the risk control performance of individual policies and portfolios. Ensure all assessments and actions are well-documented in accordance with company standards and regulatory requirements. 5. Risk Mitigation & Strategy Development: Work closely with other departments (underwriting, claims, legal, compliance) to develop and implement risk mitigation strategies. Suggest improvements in risk control processes and policies based on analysis of past risks and future projections. Propose new tools, technologies, or methodologies to improve risk assessment and control processes. 6. Compliance & Regulatory Adherence: Ensure risk management processes align with industry regulations and internal company policies. Stay updated with changes in insurance laws, risk regulations, and best practices. Support the Risk Control team in internal and external audits, ensuring proper compliance standards are met. Qualifications & Requirements: Education: Bachelors degree, Risk Management, Insurance, Business Administration, or a related field. Experience: Minimum of 3 years of experience in risk assessment, risk management, or related roles within the insurance industry. Exposure to underwriting, claims management, and post-underwriting risk analysis. Proven experience working with risk control tools and methodologies. Skills & Competencies: Strong analytical and problem-solving skills with the ability to assess risk in complex scenarios. Detail-oriented with excellent documentation and reporting skills. Good communication and interpersonal skills to collaborate with different teams. Knowledge of risk management tools, systems, and technologies. Familiarity with industry regulations, risk compliance, and best practices. Ability to manage multiple priorities and meet deadlines in a fast-paced environment.