Senior Underwriter

2 days ago

Centurion, South Africa Land Bank Careers Full time

**Job Advert Summary**:
Provide assurance of reinsurance premiums (crop, assets and life business), claims and commissions calculations and processes. Provide management with key data and ratio analysis regarding the performance of each portfolio. Ensure effective processes, procedures and policies (underwriting, reinsurance, claims & administration) are in place to govern and guide the operations business area to achieve its strategic objectives.

**Key Performance Areas**:
**1. Reinsurance Management and Reporting**
- Accurate reinsurance premiums, claims and commissions calculations and processes in accordance with reinsurance treaty wordings.
- Timely submission of reinsurance accounts.
- Maintain relationships with the company reinsurance brokers and reinsurance partners in a professional manner.
- Ensure all renewals occur in line with renewal deadlines and as per the company reinsurance policy.
- Business awarance of all reinsurance negotiations being undertaken with regards to their specific area, underwriting limits and restrictions imposed on them due to the reinsurance arrangements that are in place.
- Document management of processes are up to date and easily obtainable by means of a structured system.

**2. Portfolio Management of Crop and Asset Business**
- Provide management with key data and ratio analysis regarding the performance of each portfolio.
- Evaluate portfolio performance against the company strategy and regulatory requirements.
- Efficient processes, systems and controls are in place to monitor intermediaries and underwriting manager’s adherence to service level agreements.
- Portfolio data is received in an acceptable format and is disseminated to relevant departments.
- Provide management with reliable and accurate ad hoc information for decision making.
- Conduct regular desktop & off-site audits

**3. Underwriting functions for the Life Insurance business**
- Underwriting life insurance risk in accordance with underwriting criteria
- Responsible fot maintenance of underwritten policies on the operating system
- Rates in any system are correct and kept up to date
- Draft endorsements for each risk/ product and ensure that they are kept up to date
- Documents sent to the client in respect of the cover/ benefits comply with the legislation.
- Documents, rating methodologies and schedules used as a basis to contract with a client on a system are correct, work properly and are up to date

**4. Compiles policies and procedures**
- Provides input into the development or changing of operations (underwriting, resinsurance, claims & administration) policies or drafting of new policies and/or control systems on request.
- Access existing control systems to determine components that can be utilised/ amended in the required control system.
- Develops the first draft of the control system in accordance with company format and requirements.
- Communicates the implementation of the control system in accordance with policies and procedures.
- Implements control systems in accordance with policies, procedures and legal requirements.

**Preferred Minimum Education and Experience**:

- Degree in Commerce
- 5years Short term Insurance experience
- 3years Insurance Accounting experience
- 2years Good understanding of Underwriting Management Agencies (Binder holders)
- 2years Reinsurance experience

**Critical Competencies**:

- Understanding of overall portfolio management
- Understanding of reinsurance concepts and terminology
- Understanding of underwriting principles
- Understanding of insurance accounting principles

**Additional Requirements**:

- Travel as and when required
- Long hours as and when required

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