Senior Underwriter: Financial Lines

2 weeks ago

Pretoria, Gauteng, South Africa Santam Insurance Full time
We have an exciting opportunity for a

Senior Underwriter:
Financial Lines within SHA Risk Specialists.

A Senior Underwriter will have the experience to carefully select, analyse and underwrite risks, in a cost-effective manner and in accordance with company requirements, guidelines and governance, to ensure good risk selection and profitability and ensure business targets are met.

They will support the leadership team with the day-to-day management and operation of the department including knowledge sharing and guidance of junior team members and leading by example.

Maintaining industry awareness, innovating (product, process and marketing) and staying up to date with general market intelligence, technology and other relevant developments will also be crucial.

Accountabilities and responsibilitiesExamine insurance proposal for new and renewal business, gathering and assessing background information, conducting necessary research, evaluating and assessing the risk (including but not limited to coverage analysis, pricing and structure) and discussing/negotiating risks with the broker in order to effectively win or renew the risk.

Calculate possible risk and determine appropriate insurance premiums using underwriting tools and practices, underwriting information and own judgement and experience.

Quote within designated authority levels and refer where necessary in accordance with company policy and technical guidelines.

Monitor portfolio performance and ensure that renewals, new business, lost business are tracked and that the cancellation reserve does not exceed 2.5%.Set accurate, realistic premium forecasts and draft financial reporting as required in a timely manner to enable management to set budgets and monitor performance targets for your own portfolio of accounts and as a contribution to the team portfolio.

Be able to confidently articulate technical messaging and deliver training, as and when necessary, internally as well as to brokers and clients.

Support junior underwriters with the underwriting process and renewal negotiations as necessary.

Accurately enter data into company systems and produce management reports that ensure that the company remains aware of the nature and financial impact of all risks written for your own portfolio.

Maintain accurate electronic records for auditing and regulatory purposes.
Proactively participate in projects or other initiatives designed to improve the effectiveness or efficiency of the department.

Undertake any other reasonable tasks as requested by the U/W Head or Manager in order that the team achieve its objectives.

Ability to use Portfolio underwriting methodologies to assist Senior leadership in making key underwriting decisions.
Design and implement underwriting guidelines and methodologies. Adhere to and where possible, improve, all operational and procedural standards.

Peer review and sign off including checking policy documentation for all accounts within authority but outside of junior staff authority.

Handle accounts queries and credit control queries to the satisfaction of all parties.
Develop and maintain relationships with brokers and clients at all relevant levels of their businesses.

Liaise with brokers, clients and potential clients preparing quotes and negotiating terms as required, writing polices and specifying any conditions that should apply to policies.

Visit brokers to discuss renewals and new business with a focus to build relationships and develop market presence.

Respond to queries and resolve to the satisfaction of the affected parties within the scope of authority and / or responsibility.

Fulfil individual risk and compliance related obligations and provide support to and monitoring of the department's adherence to Group and Regulatory guidelines.

Provide proactive risk and compliance awareness by reporting any incidents or breaches identified within our compliance requirements.
Perform underwriting and operational audits to ensure compliance and address breaches where necessary.

Qualifications & ExperienceBachelor of Commerce in Insurance & risk Management, Finance, Accounting, LLB, or Economics Minimum of 5 years technical experience in the relevant line of business.

FAIS Compliance and RE5.Good understanding of insurance industry including the reinsurance market and the terminologies used.
Sound technical understanding of policy wordings. Able to evaluate information from a variety of sources and solve problems.

Good decision-making skills; able to consider the costs and benefits of various options and choose (and articulate) the appropriate one.

Good communication and interpersonal skills; comfortable with phone and face to face complex discussions with underwriters, brokers and any other relevant stakeholders.

Confident in negotiation and networking. Scenarios and able to manage difficult and complex conversations.

Deadline focused; able to work under pressure to meet tight deadlines and able to organise own workload effectively to prioritise and delegate to meet service standards.

Competent user of Excel, Word, Outlook and other Microsoft platforms.
Operationally efficient; able to follow all process requirements. Presentation skills; able to present informally and formally for training (internal and external), marketing and renewal purposes.

Intermediate to Advanced ability to assess financial statements of businesses across a broad spectrum of industriesIn depth understanding of financials markets, macro-economic factors and emerging risks impacting Financial Lines Business Unit.

Identification of financial, governance and fraud risks Research and assess risks utilising data outside of the financial statements (SENS, social media, general news media) Our recruitment process OnboardingStep 8
You made it. Here we ensure we receive all your documents to get you onto our payroll system.
Our recruitment process
AdvertiseStep 1
Our vacancies are advertised between 3-5 days depending on the market availability of the skills required.
Our recruitment process
Step 2

Could take a couple of days depending on the volume and the screening process, which various according to the complexity of the role.

Our recruitment process
Step 3

Long listed candidates are sent to the hiring manager to review and consider for the next stage of the selection process.

Our recruitment process
Telephonic screeningStep 4

Candidates may be contacted for a short screening interview to get to know them better and to ask any clarity seeking questions.

Our recruitment process
Your interviewStep 5
We use a competency interview model. Interview dates will be confirmed via e-mail. During the interview you will be introduced to the panel and the process will be explained. Remain calm and sell yourself. This is our opportunity to match your skills to the job. You only get one shot
Our recruitment process
AssessmentStep 6

Should we like what you bring to the table, depending on the job you are being considered for, you may be invited to complete a psychometric assessment.

Further employment checks are conducted the ensure the validity of your credentials.
Our recruitment process
Step 7
Prior to an offer being made, there may be a second interview to meet with the Head of Department.

Should there be a need for any further interviews, be sure to bring the same charm that got you through your first interview.

Our recruitment process
OnboardingStep 8
You made it. Here we ensure we receive all your documents to get you onto our payroll system.
Our recruitment process
AdvertiseStep 1
Our vacancies are advertised between 3-5 days depending on the market availability of the skills required.
Our recruitment process
Step 2

Could take a couple of days depending on the volume and the screening process, which various according to the complexity of the role.

Our recruitment process
Step 3

Long listed candidates are sent to the hiring manager to review and consider for the next stage of the selection process.

Our recruitment process
Telephonic screeningStep 4

Candidates may be contacted for a short screening interview to get to know them better and to ask any clarity seeking questions.

Our recruitment process
Your interviewStep 5
We use a competency interview model. Interview dates will be confirmed via e-mail. During the interview you will be introduced to the panel and the process will be explained. Remain calm and sell yourself. This is our opportunity to match your skills to the job. You only get one shot
Our recruitment process
AssessmentStep 6

Should we like what you bring to the table, depending on the job you are being considered for, you may be invited to complete a psychometric assessment.

Further employment checks are conducted the ensure the validity of your credentials.
Our recruitment process
Step 7
Prior to an offer being made, there may be a second interview to meet with the Head of Department.

Should there be a need for any further interviews, be sure to bring the same charm that got you through your first interview.

Our recruitment process
OnboardingStep 8
You made it. Here we ensure we receive all your documents to get you onto our payroll system.

TIPS & TRICKSGetting ready for your interviewThere is not just one way to be successful at Santam, nor is there one way to interview with us.

Interviewing is a two-way process - it helps us learn about you, and it helps you learn about us, our people, and what you could do here.

Santam has been officially recognised by the Top Employers Institute as a Top Employer 2024 for excellence in people practices.

This is the eighth consecutive year that we have achieved this accolade.
#J-18808-Ljbffr

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