*Preferred position location: Myanmar. Other locations to be determined by home country of successful candidate in Asia where WVI is registered to operate.
PURPOSE OF POSITION:
VisionFund commenced a strategic initiative to use insurance tools and techniques to help create financial safety nets for the poor. This then prevents them from falling back into poverty when shocks occur. This initiative will also help us reach more poor clients in rural and higher risk environments by creating the confidence to lend in these areas to improve their livelihoods.
This role will be the pivot point for the development of practical financial safety nets across Asia and connecting with the wider global initiatives. Therefore this the role will involve interaction with climatologists, economists, donors, insurance, IT specialists at technical and senior management levels within VisionFund and as well as outside ; but far more importantly it requires the cultural sensitivity and practical mindset to help develop solutions for the poor that work for them in their context.
The work will involve strong project management and co-ordination of many stakeholders as well as highly technical design of insurance solutions. The successful candidate will drive pragmatic implementation of insurance solutions into VisionFunds operations to create affordable financial safety nets for the borrowers. The role involves facilitation of experts towards practical conclusions, making the case for change to senior colleagues and developing persuasive approaches to bring staff and clients along.
This role will also be responsible for proposing designs of insurance projects. The job will be responsible for expanding innovative approaches to insurance services for VisionFund Micro Finance Institutions (MFIs) in the region.
The role reports to the Regional Head of Asia and the Global Insurance Director. There will also be extensive reporting required to other stakeholders such as Partners.
Integration of insurance within MFIs:
Enhance awareness of potential for all insurance products within Asia MFI leadership.
Develop and then ensure a smooth implementation and integration of the insurance activities into VisionFund’s existing operations.
Advise and specify teams’ skills for all kinds of insurance business management.
Make the case for change to senior stakeholders and take staff and clients along the implementation journey to make the offering of insurance products cost effective and efficient, leveraging the existing administrative processes in the MFIs.
Insurance business growth and product development in Asia/Lacro:
Put together measures that would coordinate the analysis of the insurance client needs in the rural branches.
Drive business case analysis for different insurance product types within MFI.
Ensure quality product design of insurance products within the MFI.
1st Approver of all insurance related service providers/provisions and insurance products in all MFIs in Asia. 2nd Approver is Global Insurance Director.
Ensure insurance product design activities within VFI bring to a practical and cost effective conclusion by gathering qualitative and quantitative data.
Through MFIs gather intelligence and ensure circulation of briefs on Asia insurance developments for clients to VFI global region and MFIs.
Interact effectively with a very diverse range of stakeholders serving to deliver insurance products.
Record and keep custody of input from highly technical specialists e.g. Professors of climatology & agricultural economics, senior insurance specialists and senior development & resilience specialists to develop solution options for MFIs.
Ensure inputs from other specialists is driven towards practical solutions that will work for VisionFund and for the poor.
Build high net worth corporate relationships that enable:
advocating in the Asia region for the benefits that insurance products for VisionFund would bring to the clients of the MFIs, effective underwriting of the insurance products e.g. reinsurance relationships or agro-related companies.
Be responsible for ensuring insurance project design and scope is meeting the needs of the donors for project control, reporting and evidencing.
Be the 1st Approver of all insurance components for donor requests and project designs for insurance related projects to donors that support the VisionFund insurance program development.
Reports for VisionFund global, regional.
Assist local management to report to their boards on key insurance projects.
Be responsible for quality reports for Insurance program/project implementation within MFI and VFI Responsible for Calculation, verification and quality of Insurance claims submitted to insurance partners in region.
Responsible for quality of data and documents used in insurance process used in region.
To contribute and provide imputs for training curriculum for MFI staff in charge of Insurance.
To conduct and deliver trainings for MFIs Staff who deal with Insurance.
To identify talent and potential successors for this role, among MFI staff. Coach them and identify right trainings and stretch assignments for their development.
To provide imputs for developing trainings to raise awareness of insurance among clients in Asia.
To conduct and deliver various types of insurance trainings to insurance clients.
To develop required training about characteristics of insurance products in accordance with regulators’ requirements and deliver it to clients.
KNOWLEDGE, SKILLS & ABILITIES:
A minimum of under-graduate level education in mathematics or business or finance or international development.
Trained in project/program management (preferably in a grant funded context) or experienced manager with a proven track record in project delivery in developing countries.
Significant professional knowledge of microfinance and micro insurance.
Knowledge of personal lines insurance such as life and health.
Excellent understanding of core banking systems.
Strong report writing skills.
Highly numerate, proficient in the use of spreadsheet models.
Good inter-personal and cross-cultural skills to cope with a very diverse stakeholder group9.
The role requires hands on experience in microfinance and ideally in microinsurance specialized in personal lines (health, life, personal accident).
Proven ability to influence senior leaders regarding products and business plans.
Experience of microinsurance products in both development and operation.
Experience of the implementation of new microfinance products.
Hands on experience of dealing with microfinance clients.
Track record of successful project implementations.
Effective in written and verbal communication in English.
Preferred Skills, Knowledge and Experience:
Membership of an insurance based professional body would be an advantage.
Postgraduate qualification in a relevant subject is preferred, or equivalent experience/knowledge gained in a work situation e.g. as an Economic development specialist or Microfinance professional.
Matrix management experience.
An insurance specialist with experience of running grant financed development projects.
Track record of donor-funded project implementation.
The position requires ability and willingness to travel domestically and internationally up to 30% of the time.
The position is based in Asia.