Jobs in UAE: Purpose of the job:

The central purpose of the role is to increase the profitability of the Group’s insurance business in the Middle Eastern region including Saudi Arabia, Egypt and new markets such as Pakistan and North Africa, with particular focus on guidance of insurance management in HSBC Middle East countries ex UAE, preferred strategic partner management, One HSBC implementation and achieving high operational efficiency standards.

The job holder will contribute towards strategic oversight of all insurance activities across the Region. Ensuring that business is undertaken in line with the Group Insurance Strategy and is operating to Group Insurance standards.

They will also be in charge of overseeing operational aspects of the insurance businesses across the region, including One HSBC implementation, ensuring we meet both internal and external (regulatory) operational standards. This is inclusive of, but not limited to the following:

•Direct all operational support services regionally including new business processing, claims management, policy servicing, renewals and customer service and ensure adequate quality controls are implemented.

• Establish mechanisms for continuous improvement in Regional operational efficiency and reduction in operational costs.

• Elimination of paper based processes and implementation of straight through processing (STP) wherever possible.

• Ensure timely and effective insurance administration services are delivered and all associated controls are implemented to fulfill statutory and compliance requirements with minimal complaints and processing errors.

• Establish and ensure effective technical insurance relationships with regulators are maintained in each Country of operation.

• Ensure outstanding operational customer service experience is delivered regionally, to maximize cross sales and customer retention.

• Support the development of product line strategies, product propositions and channel management initiatives for the insurance business to ensure profitable business growth across the region.

• Establish and ensure effective technical insurance relationship with regulators are maintained across the region to deliver products that meet customer needs and give the business competitive advantage

• Support the development of product line strategies and product propositions and channel management initiatives for the insurance business to ensure profitable business growth across the region

Main
Responsibilities:

Impact on the Business:

• Help deliver the Annual Operating plan in terms of revenue growth costs and PBT

• Prepare, present and implement a strategic plan for the region which is aligned with the overall Group strategic plan for Insurance.

• Ensure that the business meets internal and external operational standards.

• Successful One HSBC implementation

• Direct the development of, and control and monitor the implementation of operation strategies, policies and procedures for all Regional insurance businesses.

• Oversee, monitor and control all administrative operations and customer service functions for all Regional insurance businesses.

• Ensure that all operations and activities undertaken comply with legal & regulatory requirements and Group’s direction.

Leadership & Teamwork

• Development of and contribution to Regional Insurance strategy

• Deputize for Regional Head, Insurance

Operational Effectiveness & Control

•Ensuring the sales process is fully compliant with local laws, International norms and HSBC values

• Ensuring that HSBC is at the forefront of emerging regulations in each market – supporting growth aspirations whilst retaining the appropriate risk management discipline to achieve strategic goals

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Skills

Major Challenges

The external challenges are in:-

• Building consideration for HSBC as an insurance brand in those markets where we are already an established Banking institution but not viewed as a major provider of Insurance products.

• Devising strategies to enter new markets

• Satisfying the fast-changing insurance regulations of the emerging markets in the region

The significant internal challenges are in:-

• Working closely with the Heads business in each region, as well as those people responsible for management of the insurance proposition in each market

• Seeking to influence the shelf space discussion and resource allocation processes to create a sense of priority and urgency for insurance activities

Preferred Skills/
Experience:

• The jobholder should have broad based product and operational aspects of the insurance industry covering life, and non-life business across both personal and commercial lines.

• 8-10 years operational management experience in the insurance/banc assurance industry.

• Strong leadership skills to convey a vision of where the insurance business is going.

• Good communication skills, both verbal and written

• The ability to work in a matrix management structure

• Excellent team working

• Excellent English. Arabic ideal, but not mandatory

Additional Information

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