Role: Underwriting Quality / Audit Manager
General description of the position
The purpose of the Underwriting Quality Manager is to determine adherence to the AIG Underwriting Control Framework. This includes adherence to the underwriting authority, underwriting guidelines, procedures and rules, AIG Corporate, AIG CUO or Product Specific standards and policies as they relate to Auto, Personal Property, SME and Service Programs Products across all legal entities.
Review underwriting quality, pricing compliance, portfolio management utilization, management controls and provide senior management with commentary on the overall underwriting, go-forward critical profitable growth plans and improved control on the legacy book and financial health of the entity being reviewed. Leverage underwriting audits for capability assessments of operations in light of Product strategic business plans.
The Underwriting Quality Audit Manager will also provide support to the Global Head of Underwriting Audit with local industry knowledge and support training initiatives.
In addition, the Underwriting Quality Audit Manager will support the Global Product and Underwriting Governance team on project initiatives from time to time.
Major responsibilities of the position
Financial/Strategic
- Conduct audits annually across all legal entities/portfolios. Undertake pre-audit work, use audit tools, discuss audit ratings and findings in wrap-up meetings; review critical findings and recommendations with Audited Entity, Country, Regional and Global Product team; prepare reports; vet action plans.
- Continued evaluation and focus on unusual underwriting exceptions and volatile business
- Conduct 12 - 18 audits annually. Ensure release of Reports are within benchmark timeframe.
- 10% to 20% of the role is working in conjunction with the Global Head of Underwriting Audit on various underwriting and governance related initiatives.
Operational
- Analyze audit findings and recommendations, provide Underwriting Governance and Audit and Product Management with both formal and informal feedback on capabilities, underwriting and staffing issues.
- Utilize the information to update/enhance the audit protocol, manual, grading model and processes as appropriate.
- Further assist with post-audit actions (including collaborating with Product, IAG, ERM, CUO etc) by product/geography to maintain diligence on risk assumption and profitability through providing input into Underwriting Authority changes, buy-backs, risk appetite and guidelines.
- Enhancing Underwriting Audit Analytics through the use of technology and data e.g. automation, AI/ML
- Regular feedback to the Regional and Global Product staff on a quarterly basis
- Provide feedback and input into audit guidelines, grading model and processes.
- Participation in specific projects. Changes to or clarification of Underwriting Authority wording, buy-backs, risk appetite and guidelines.
- More efficient and effective insights into data and application of these insights into improving underwriting quality.
Organizational
- Meet with Regional/Product Management regularly to remain current on underwriting and other product related issues. Foster good Underwriting Audit-Product communication and teamwork. Methods include establishing regular, scheduled meetings with Product Management, participation in Product Line strategy sessions, workshops/seminars, etc.
- Ad hoc Training of Underwriters as part of the audits conducted
- Continue to increase network of AIG contacts at all levels of management for all functional partners such as Compliance, Legal, IAD, Claims, Quality Assurance departments, ERM etc.
- Alignment of messaging from the Global perspective to the field. Exposing and training the field where applicable on audit findings
Specific Requirements / Skills to Exhibit
- Fluent in written and spoken English. Additional language capability is a strong plus.
- Proven and indisputable technical knowledge of Personal Insurance Product lines.
- Excellent evaluation and analysis skills, including auditing skills.
- Ability to provide direction and convey strategy of Global Home Office, Underwriting Audit and Underwriting Governance to Regional and Country staff.
- Excellent knowledge of product line underwriting guidelines, risk appetite, tools, processes, management controls and pricing methodologies, including the ability to train this knowledge to others.
- Working knowledge of regulator requirements.
- Working knowledge of the actuarial function (e.g. reserving, DAC accounting, development of experience and statistical rating – aka rate reviews) and the business analytics area.
- Technical knowledge of data capture processes, coding guidelines; working knowledge of systems infrastructure in AIG.
- Demonstrated report writing, time management and analytical skills.
- Demonstrated business judgement and interpersonal skills, as well as the ability to work independently or as part of a team.
- Ability to travel extensively and maintain scheduled delivery of tasks.
- Good communication and presentation skills.
- Good relationship building skills.
Experience
- Minimum 10 years industry experience with a P&C carrier of significant market size. Management positions in underwriting with P&L responsibility is strongly preferable. Audit or Actuarial experience a strong plus.
- Minimum 5 years’ experience with a P&C carrier within the Product organization. Proven experience in underwriting a full range of products, placing fac reinsurance, effective demonstration of management controls and utilization of portfolio management tools, and working with diverse distribution channels are preferable.
- Working experience in multiple regions/countries is a strong plus.
At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.
Enjoy benefits that take care of what matters
At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.
Reimagining insurance to make a bigger difference to the world
American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.
Welcome to a culture of inclusion
We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.
AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to candidatecare@aig.com.
Functional Area:
UW - Underwriting
AIG Malaysia Insurance Berhad