Job Description

Position Title: Assistant Vice President – Specialty Underwriting

Department: Non-Motor Underwriting

Function: Underwriting

Location: Head Office – Mumbai

Grade: M6

CTC Range: 27–29 LPA

Position Summary

We are seeking an experienced underwriting professional to lead and profitably manage the Specialty Lines portfolio, including products like Surety Bond Insurance, Trade Credit Insurance, and related commercial lines. This role goes beyond core underwriting and involves strategic portfolio management, process optimization, and regulatory compliance. The ideal candidate will have a strong finance background to effectively assess contractor risk and capacity.

Key Responsibilities

Business Growth:

Drive growth in the specialty lines segment by supporting business stakeholders and exploring new opportunities.

Profitability

Develop and implement underwriting practices that enhance the profitability of the portfolio.

Portfolio Management

Monitor, analyze, and manage the performance of the specialty lines portfolio across both top-line (premium) and bottom-line (profit) metrics.

Regulatory Compliance

Ensure adherence to all regulatory, statutory, and board-mandated underwriting guidelines and frameworks.

Process Development

Improve and streamline underwriting workflows, documentation processes, and operational efficiency.

Team Development

Mentor and support the professional development of team members through training and knowledge-sharing.

Qualifications

Education:

Post-graduate degree in any discipline.

Preferred: Undergraduate degree in Finance or qualification as a Chartered Accountant (CA) or Chartered Financial Analyst (CFA).

Fellowship or Associateship from the Insurance Institute of India is mandatory.

Experience

Minimum 10 years in commercial lines underwriting, with at least 2 years specifically handling Surety Bond Insurance.

Behavioral Competencies

Execution: Focused, organized, and result-driven.

Proactivity: Takes initiative and accountability in addressing client and business needs.

Decision Making: Makes data-driven decisions and engages stakeholders effectively.

Adaptability: Quick to adjust in dynamic environments.

People Empowerment: Acts with empathy and builds trusted relationships.

Teamwork: Collaborates effectively and fosters a growth-oriented environment.

Openness & Inclusion: Embraces diverse perspectives and continuous improvement.

Functional Skills

Strong technical expertise in Surety Bond Insurance underwriting

Sound understanding of portfolio analysis and risk assessment

Excellent communication and interpersonal skills

Ability to evaluate the financial strength of contractors and corporate clients

Assistant Vice President Specialty Underwriting Insurance

Assistant Vice President, Specialist, Business Audit, T&M, Audit