About the Role

This role is responsible for the management and administration of BSP’s corporate insurance program – ensuring that the Bank’s property, liability, marine, workers’ compensation, motor vehicle, cyber, financial lines (directors & officers’ liability (D&O) & professional indemnity (PI) medical, life, cash in transit, bankers’ blanket bond insurance policies provide adequate protection against financial and operational risks. The role also oversees insurance valuations of BSP’s assets and properties to ensure accurate coverage and compliance with regulatory and board requirements.

Key Deliverables

• Administer BSP’s full suite of corporate insurance policies across property, liability, marine, cyber, financial lines, and more.
• Coordinate renewals, endorsements, and coverage changes in line with business needs and board approvals.
• Liaise with brokers and insurers to ensure cost-effective, comprehensive coverage.
• Review policy terms, exclusions, and limits to align with BSP’s risk appetite.
• Manage the end-to-end corporate claims process, including reporting, documentation, negotiation, and settlement.
• Maintain and update claims registers for reporting to senior leadership and committees.
• Advise business units on insurance risk exposures and mitigation strategies.
• Oversee insurance valuations of BSP’s assets, ensuring accuracy and compliance.
• Collaborate with valuers and internal teams to reconcile insured sums with asset registers.
• Ensure compliance with BPNG prudential standards and audit requirements.
• Prepare and present insurance program reports to EXCO, Board Risk Committee, and regulators.
• Provide expertise on emerging risks and recommend coverage enhancements.
• Support regional subsidiaries in aligning insurance programs with group standards.
• Identify opportunities for automation and improved insurance reporting.

Essential Qualifications, Professional/Skills and Experience:

• A Bachelor’s degree in Finance, Risk Management, Business, or a related field.
• Preferred: Professional insurance or risk qualifications (e.g., ANZIIF, CIP, ARM).
• Technical knowledge of various insurance coverages, including property, liability, marine, workers’ compensation, motor vehicle, cyber, D&O liability, professional indemnity, medical, life, cash in transit, and bankers’ blanket bond.
• Strong analytical and reconciliation abilities with a keen eye for detail.
• Excellent negotiation and relationship management skills with brokers and insurers.
• Familiarity with regulatory frameworks such as BPNG standards, OWC, OIC, and MVIL.
• Capability to prepare clear reports and effectively present findings to senior stakeholders.
• Demonstrated integrity, risk awareness, and a problem-solving attitude.
• Proficient in MS Office; experience with workflow automation tools is a plus.
• At least five years of experience in corporate insurance, risk management, or financial services.
• Comprehensive knowledge of insurance markets, corporate policies, and claims processes.
• Experience in valuations, risk assessments, or asset management is desirable.