Manager Takaful

National Insurance Company Limited

Pakistan

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The Manager Takaful position requires a seasoned professional to lead and expand the company’s Takaful business in strict accordance with Shariah principles, regulatory standards, and the organization’s strategic goals. The ideal candidate will possess extensive knowledge of Islamic finance and Takaful operations, with demonstrated expertise in product development, underwriting, claims management, and compliance. Reporting directly to the Head of Takaful Operations, this role is pivotal in ensuring that the company’s Takaful offerings remain competitive, compliant, and efficiently managed.

Key Responsibilities
Manage and develop the Takaful business function to align with Shariah principles, regulatory requirements, and strategic objectives. Assist in shaping and executing the company’s Takaful business strategy. Develop, review, and enhance Takaful products, schemes, and operational procedures to maintain market relevance and compliance. Collaborate closely with Shariah advisors and consultants to ensure all activities adhere to Shariah compliance standards. Oversee Takaful operations to guarantee strict adherence to approved Shariah principles and regulatory frameworks. Review and update underwriting procedures, policies, and guidelines specific to Takaful. Supervise claims processing to ensure conformity with established procedures. Monitor re-Takaful arrangements and manage related operational tasks. Support the creation of pricing models, contribution structures, and product features tailored to Takaful offerings. Conduct market research to identify new growth opportunities within the Takaful segment. Work collaboratively with business units, branches, and stakeholders to implement Takaful products effectively. Track operational and financial performance, preparing management reports, business plans, and performance analyses. Ensure accurate documentation and maintenance of all Takaful records. Identify risks related to operations, finance, regulatory compliance, and Shariah adherence, recommending appropriate mitigation strategies. Liaise with regulatory authorities and other stakeholders on all Takaful-related matters. Facilitate training programs to enhance employee understanding of Takaful concepts, products, processes, and Shariah requirements. Stay informed about developments in Takaful, Islamic finance, and relevant regulatory frameworks.

Required Qualifications
A Master’s degree or a four-year Bachelor’s degree (16 years of education) in Finance, Islamic Banking, Business Administration, or a related field from a recognized local or international institute/university accredited by the Higher Education Commission (HEC) of Pakistan. A minimum of 60% marks in the qualifying degree is required. Relevant certifications in Takaful, Islamic Finance, or Shariah-related disciplines are preferred. The candidate must have at least six years of professional experience, including a minimum of three years in a senior role, ideally within a reputable Takaful or insurance organization.

Preferred Qualifications and Experience
Experience in Takaful product development, underwriting, claims management, operations, Takaful Window, re-Takaful, regulatory compliance, and Shariah adherence is highly desirable. Strong coordination and operational management skills are essential. Proven ability to work effectively with Shariah advisors and regulatory bodies is important. A demonstrated track record of managing Takaful business growth and maintaining operational excellence will be considered a significant advantage.

This role offers the opportunity to make a meaningful impact on the growth and regulatory compliance of the company’s Takaful business while working within a dynamic environment focused on Islamic financial services.