Vice President – Surety & TC (Underwriting)

JOB PROFILE

Department

Underwriting Function: Underwriting

Position

Vice President – Surety & TC

Band

SM

Location

Mumbai

Reporting To

Joint President

Our Vision

To be the most admired insurance company that enables the continued progress of customers by being responsive to their needs.

HDFC ERGO as an Employer

• We believe in Sensitivity
• We drive Excellence
• We uphold Ethics
• We bring Dynamism

About HDFC ERGO

HDFC ERGO General Insurance Company Limited was promoted by erstwhile Housing Development Finance Corporation Ltd. (HDFC), India’s premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group. Consequent to the implementation of the Scheme of Amalgamation of HDFC with and into HDFC Bank Limited, one of India’s leading private sector banks (Bank), the Company has become a subsidiary of the Bank. The Company offers a complete range of general insurance products ranging from motor, health, travel, home and personal accident in the retail space and products like property, marine and liability insurance in the corporate space. With a network of branches spread across a wide distribution network and a 24x7 support team, the Company has been offering seamless customer service and innovative products to its customers.

Key Roles & Responsibilities

• Define and execute long-term business strategy for Surety and Trade Credit.
• Expand the franchise by targeting infrastructure developers, EPC contractors, banks, NBFCs, and large corporates.
• Evaluate creditworthiness, infrastructure projects, concession agreements, EPC contracts, and lender covenants.
• Monitor portfolio exposures, early warning indicators, and credit deterioration trends.
• Lead underwriting decisions for complex surety and trade credit proposals.
• Oversee structuring of performance bonds, advance payment bonds, retention bonds, supply bonds, and trade credit covers.
• Develop new channels and strengthen broker and intermediary networks.
• Drive new product development in Surety and Trade Credit aligned to evolving market needs and regulatory changes.
• Collaborate with actuarial, legal, finance, and compliance teams for pricing, policy wording, and product filing.
• Build and maintain strategic relationships with lenders, government bodies, multilateral institutions, industry associations, and large corporates.
• Coordinate with internal service delivery teams to ensure high-quality client experience.
• Guide legal and recovery strategies to minimize loss ratios and improve recoveries.
• Ensure full compliance with IRDAI regulations, operational risk norms, and internal audit guidelines.

Key Requirements – Education & Certificates

• CA or MBA/PGDM in Finance, Risk, or Insurance preferred.
• Professional insurance certifications (AIII, FIII) are an advantage.
• 10–15 years of progressive experience in Bank or general Insurance, with significant exposure to Surety Bonds, Trade Credit Insurance, Infrastructure / Project Finance, EPC risk assessment.

Key Requirements - Experience & Skills

• Strong command over Surety Bonds, Bank Guarantee alternatives, Trade Credit Insurance, infrastructure finance and Project Finance structures.
• Expertise in financial analysis, credit assessment, risk modeling, and contract evaluation.
• Strong business acumen with the ability to drive P&L outcomes.
• Excellent stakeholder management, negotiation, and team leadership skills.

Remarks

The details of this position are confidential.

The decision to change/modify the specifications is at management’s discretion.