Business Head: Technical Underwriting and Governance

7 months ago

Johannesburg, South Africa Sanlam Full time

**What will you do?**
- This career opportunity is available within **Specialist Solutions**, a division of Santam for a **Business Head: Technical Underwriting and Governance**, who will be based in **Johannesburg: Illovo.**

**What will make you successful in this role?**

**Strategic Management**
- Provide sustainable strategic input for your relevant business area that will contribute to the financial health of the organisation through sound governance practices.
- Provide detailed analysis and reporting on the Technical and Governance Areas.
- Actively seek ways to keep competitive advantage in the market.
- Provide feedback on market intelligence.
- Encourage cross-selling initiatives within SHA and Specialist Business by helping underwriters identify opportunities
- Develop a Sustainable Risk Management Initiative that assists the underwriting & claims team and clients
- Monitor and report on cover trends and developments and the potential impact on the business.

**Technical Underwriting**
- Oversee the:

- maintenance of the BU Underwriting Practice Policy
- maintenance of Underwriting Governance Folder
- generation of Underwriting Notes & Directives
- Oversee Underwriting guidelines and audit checklist
- Promote ‘best practice’ underwriting process to minimise underwriting operational risk for the following lines of business:

- General Liability
- Professional Indemnity
- Financial Lines (including Cyber & Tech PI)
- Accident & Health
- Motor Fleet
- General Technical support to Underwriters
- Provide guidance on technically complex quotes and renewals and ensure quality control in respect of Company underwriting standards.
- Ensure adherence to underwriting governance and underwriting authorities.
- Respond to queries on wordings and sign off all non-standard wordings
- Research and Development on new products as required
- Build and maintain a Knowledge Centre and produce material for regular distribution to the greater business.
- Sign-off of risks in accordance with Authority Matrix

**Claims**
- Sole responsibility for notifying and keeping reinsurers informed of claims which exceed the agreed threshold of notification.
- Provide technical input and guidance to Claims Staff on claims related matters, when required.
- Attend Claims Technical Meetings and provide additional input on topical matters, when the need arises.
- Oversee the Claims Guideline and Audit Requirements

**Compliance, Binder and Outsource Management**
- General Technical Support and Management
- Custodian of the SHA/Santam Underwriting Management Agreement (Binder) and ensuring compliance and adherence to the authorities granted in respect thereof.
- Co-operation with Santam in relation to information management and content of Treaty Agreements
- Liaison with Legal, Compliance and Finance on regulatory matters including FAIS, the Short Term Insurance Act, Forex, VAT and Regulations in foreign jurisdictions, to ensure distribution of relevant information to Product Areas.
- Have thorough knowledge of industry regulations and minimum standards to ensure compliance with the regulations and SHA’s underwriting control standards and protocols
- Oversee:

- reviewing and underwriting of binders and outsource arrangements rates to ensure the profitability and governance of these structured solutions
- Auditing of these arrangements on a Quarterly basis to ensure compliance with agreed rates, wording and conditions
- Auditing on a yearly basis with Santam Specialist Compliance
- Coordinating and collating of audit feedback for business

**What will make you successful in this role?**

**Governance and Risk Management**
- Adherence to the Santam/SHA Internal Control policy by implementing an effective system of internal control
- Implement an effective approach to the identification, assessment, monitoring, management and reporting of relevant operational risk exposures
- Drive a risk-aware and strong governance culture within your business
- Maintain wordings compliant with Treaty coverage and aligned with legal and regulatory developments
- Custodian of all agreed wordings
- Management of exposure to loss aggregation in conjunction with Underwriters
- Monitor underwriting process quality

**Reinsurance**
- Compilation of annual Treaty renewal submissions and attention to queries
- Ensure reinsurance protection in close liaison with Underwriters that quantitatively and qualitatively supports underwriting operations
- Support Underwriters with Treaty Special Acceptances, Facultative transactions and reinsurance queries
- Promote solutions to minimise Risk of exposure to loss aggregation in conjunction with Underwriters
- Statistical analyses for use in portfolio pricing
- Produce and distribute Treaty Summaries

**Data Analytics**
- Oversee the following functions:

- Develop and extend SHA’s data analytics capability
- Statistical analyses at portfolio level
- Develop data-driven pricing relative to base rates and target lo

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