Job DescriptionJob PurposeLead efforts in effective management of relevant Takaful Policies procured by the Bank. Ensure relevant Takaful policies meet the business objectives and needs while maintaining a coverage in line with the Risk Appetite.Manage the claim handling process to ensure that ongoing claims are closely tracked till payout.Key ResponsibilityEnsure timely renewal of the relevant Takaful Policies obtained by the Bank while ensuring the coverage is appropriate and in line with market developmentsPrepare annual proposal form while engaging with internal stakeholders to ensure timely and accurate information is shared with takaful providersEffectively handle queries from takaful providers during the policy renewal stagesDevelop robust understanding of the Takaful Policy coverage, conditions and exclusions to ensure effective claim managementAssess circumstance to identify claims that would be covered under the relevant takaful policies.Engage with legal department for potential claims as well as for obtaining a well-rounded understanding of the legal circumstance to lodge a potential claim.Ensure engaging with relevant internal and external stakeholders to share required information and data, preparing required texts for claim management.Communicate with Takaful Providers, Brokers, Loss adjusters and Reinsurers to solve any issue related to the claims and coverage.Awareness to internal stakeholders on the Takaful coverages and internal stakeholder roles and responsibilities.Liaise with internal stakeholders and Takaful Providers to benefit from complementary / value added services and evaluate the relevance and quality of those services.Maintain documentation and ensure that required takaful MIS and audit trails are correct and up to date.Prepare reports to Senior Management on Takaful mattersCompetencies/SkillsEducationBachelor’s Degree (Minimum) in relevant field.Work ExperienceMinimum 8 years with financial institutions in the areas of risk management or internal audit. With prior experience in actively managing Takaful Policies (Financial Lines) would be an advantage.
