Opportunity Information
Scale: BPS-20 | Grade: BPS-20
1
Federal Government Corporation/ Public Sector Company
Executive
On- Site (Fixed Location)
Karachi
The Role
Pakistan Reinsurance Company Limited is inviting applications for Executive Director Underwriting on a performance-based contract of three years. The post leads PRCL's reinsurance and Retakaful underwriting and reports to the Chief Executive Officer.
•Propose the annual underwriting plan, class-wise appetite and capacity, and maintain pricing discipline through technical rating standards •Monitor portfolio profitability by class, cedant and broker and recommend corrective action on loss-making segments •Lead annual treaty renewals and assess cedants' underwriting quality, retention and claims experience •Accept, decline or refer facultative risks within delegated authority •Design and place the retrocession and protection program within Board-approved net retention limits •Underwrite Retakaful business under the Takaful Rules, 2012 and the Shariah Advisor's rulings •Maintain catastrophe accumulation control and report probable maximum loss and appetite utilisation to the Risk Management and Compliance Committee •Monitor credit quality and concentration of cedants, brokers and retrocessionaires •Provide underwriting data to Finance and the Appointed Actuary for reserving, solvency and IFRS 17 purposes •Serve on the Underwriting and Reinsurance Committees, own first-line controls and implement audit and regulatory findings •Lead, develop and evaluate the underwriting team and maintain succession plans
Applicants General Eligibility & Requirements
•Must satisfy the fit and proper criteria under section 16 and Schedule-IV of the SOE Act, 2023 and
15+ years
Up to 57 years
Education, Experience and Skills Requirements
- Professional Master's Degree: Insurance
- Masters: Insurance, Risk Management, Finance
ACII or FCII with at least 15 years of relevant post-qualification experience with an insurer/ reinsurer, of which 5 years as a Key Officer; or Master's degree (16 years) in Insurance, Risk Management, Finance or M.Com Insurance with at least 20 years of such experience, of which 5 years as a Key Officer; or Fellow/ Associate of the Casualty Actuarial Society, Institute of Actuaries (England) or Society of Actuaries (USA) with at least 15 years of relevant experience, of which 5 years as a Key Officer
ACII/ FCII, or Fellow/ Associate of the Casualty Actuarial Society, Institute of Actuaries (England) or Society of Actuaries (USA), as per the qualification route
Salary, Compensation & Benefits
PKR 0/ month (Competitive market-based package to be decided during the interview; performance-based three-year contract)
Application
- Updated CV
- Copy of CNIC
- HEC Verified Degrees
- Experience Certificate(s)
- Upload updated CV along with copies of CNIC, academic/ professional degrees and transcripts, and experience certificates
- Bring original documents and HEC verified testimonials to the interview; no TA/ DA is admissible
- In case of difficulty with the online application, contact the HR Department by the phone or email given
No application fee
For Queries
hassans@pakre.org.pk
021-99202928
About the Employer
Pakistan Reinsurance Company Limited (PRCL)