Reinsurance Consultant

Who are we?

Sanlam Life and Savings (SLS) is focused on serving our retail and corporate clients in South Africa and further developing our strategic advantages in the South African market. Sanlam Life and Savings consists of three clusters - Sanlam Corporate, Sanlam Retail Mass and Sanlam Retail Affluent. The Sanlam Life and Savings Office provides strategic direction, coordination and support to the three clusters, as well as performing governance oversight that includes assurance provided by second line of defense functions in SLS, to enable us to meet our business objectives.

Role Description

Do you want to be exposed to dynamic and challenging work? Do you enjoy collaborating? Do you like helping people?

In this role you will focus on the management and expansion of Sanlam Inward Reinsurance, including:

• Reinsurance pricing and modelling
• Reinsurance contract management
• Reinsurance operational support

You will have regular exposure to Exco and the CEOs of the various businesses.

Business Description

Sanlam Life and Savings (SLS) offers retail and corporate life insurance and investment products in South Africa across the spectrum ââ,' from entry level market to high-net-worth individuals and all size corporates. The cluster provides clients with a comprehensive range of appropriate and competitive financial solutions, designed to facilitate long-term wealth creation and protection. SLS believes in creating and cultivating a positive, energised working environment that gives you every opportunity to achieve success. We are committed to transformation and embracing diversity.

SLS: Actuarial Product Management forms part of the SLS: Actuarial department and provides pricing services and technical support for businesses in SLS to ensure profitability and the fair treatment of customers. The Reinsurance Consultant (Actuarial) will need to collaborate with the Head of Reinsurance, Head of Actuarial Pricing and Head of Balance sheet management to develop and implement reinsurance pricing strategies for financial reinsurance, risk reinsurance and any reinsurance required for balance sheet management purposes as well as manage the operational and contractual requirements of these treaties.

It is important that you value Integrity, Care, Innovation and Collaboration in your work.

What will you do?

Output/Core Tasks:

• Identifying inward reinsurance opportunities and building business cases to improve value generation in SLS
• Providing actuarial support to the reinsurance operations and pricing teams
• Develop and maintain pricing models for inwards reinsurance products and services
• Liaise with the Actuarial Modelling teams to provide specifications and criteria for Pricing Models
• Liaise with the Actuarial Valuations and Reporting teams to ensure reasonableness of the reporting of reinsurance valuations
• Engage with the Actuarial Experience Management teams to adjust the pricing assumptions
• Providing actuarial guidance and support to the ceding company where required
• Analyzing reinsurance pricing data and making recommendations to improve profitability and mitigate risk
• Manage reinsurance contracts to be up to date and outsourcing contracts
• Provide operational support for planning and implementing new reinsurance transactions
• Manage monthly operational interactions with all parties involved
• Liaise with the Finance, Underwriting and Chief Medical Office, Balance Sheet Management teams in setting of actuarial pricing and determining authorization limits
• Build and maintain operational relationship with ceding companies, external partners and reinsurers
• Liaising with retrocessionaire partners to ensure effective pricing of retrocession contracts
• Preparing and presenting pricing proposals and reports to senior management and clients

What will make you successful in this role?

Qualifications:

• An Actuarial Fellowship qualification

Experience and skills:

• Minimum 1 year post qualification experience
• Strong interpersonal skills

The following would be advantageous:

• Knowledge and experience with reinsurance including FinRe
• Knowledge of risk cover products
• Solid actuarial modelling experience
• Valuations experience and/or product development experience

Personal attributes and Competencies:

• Good communication skills
• Advanced computer skills
• Innovative mindset and desire to drive positive change
• Strong technical and operational ability with a track record of delivering results
• Driven by the desire to add value in all aspects of work
• Effective communicator of complex technical information to diverse stakeholders, both verbal and written
• Curiosity and passion for continuous learning and development
• Ability to combine conceptual thinking with pragmatic solutions
• Exceptional decision-making abilities
• Skilled in building and maintaining stakeholder relationships

Build a successful career with us

We're all about building strong, lasting relationships with our employees. We know that you have hopes for your future - your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters - Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office - the group provides many opportunities for growth and development.

Core Competencies

Cultivates innovation - Contributing strategically
Customer focus - Contributing strategically
Drives results - Contributing strategically
Collaborates - Contributing strategically
Being resilient - Contributing strategically

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

Closing Date: 19 April 2024

Our commitment to transformation

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.

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