Risk Insurance Specialist

7 months ago

Johannesburg, South Africa FirstRand Full time

Job Description

Hello Future Risk Insurance Specialist

FirstRand believes that its people are its single most important resource and will not operate in a sector unless it has people who are right for that market and who share FirstRand’s business values. We recruit self-starters who have a passion for what they do. We empower them, hold them accountable and reward them appropriately. We value diversity in our people, particularly for the way that this contributes to innovative thinking. If you think you will flourish in our environment, and you believe you have the necessary skills and competencies for the position advertised, then we are looking for you

To assist the Risk insurance department which is responsible for the Groups own insurances including but not limited to Property and Financial Institutions cover (Professional Indemnity, Crime, Directors and Officers Liability, etc). in delivering on the Groups insurance requirements

Are you someone who can:
- Co-ordinate, facilitate, prepare for, present and contribute to pre
- and post-renewal meetings, take notes and attend to actions required.- Engaging with insurance brokers to incorporate Insurers and Reinsurers requirements.- Update and completion of proposal forms.- Stakeholder communication and guidance throughout the process.- System administration including management of users, BUs.- Performance of User Acceptance Testing (UAT) on the system forms and reports.- Collection and detailed risk analysis of underwriting information.- Interrogation and querying of information and managing of responses.- Submission of accurate information to the insurance brokers-
- Prepare premium calculations, review premium allocations and invoicing.- Process claims within the portfolio from notification to settlement.- Identify insurance claims from various sources, e.g., loss information systems.- Obtain and interrogate supporting documentation.- Assess validity against relevant insurance policy.- Establish accurate quantum through investigation and follow up on recoveries.- Prepare claims file and maintain accurate information on the claims management system.- Prepare notifications, updates, Agreements of Loss, claims motivations, claims reporting and proposed settlements.- Engage with the insurance brokers, appointed loss adjusters and claims experts, interrogate reports.- Co-ordinate, facilitate, prepare for and contribute to meetings, take notes and attend to actions required.- Prepare and submit settlement bordereaux.- Oversee and assist with direct insurance claims.- Claims management.- Prepare monthly outstanding claims bordereaux.- Perform claims reconciliations.- Review proposed claims settlements, claims bordereaux and authorize in terms of mandate.- Oversight of outsourcing and service delivery.- Financial and risk reporting to Governance committees.- Responsibility for the ORSA process.- To assist with the department’s operational, financial, compliance, risk management, capital and IT requirements.- Co-ordinate and facilitate meetings across the Group, set agenda’s and prepare and make presentations, take minutes and attend to actions items.- Participate in various committees.- Provide specialist guidance and support to internal stakeholders on matters relating to Group insurance and assist with ad-hoc projects.- Assess regulatory requirements and implement procedures where necessary.- Design, co-ordinate input, compile, review, analyse and submit various submissions where required.- Update and submit operational and compliance risk tools (risk registers, KRI’s, self-assessments etc.).- Attend to deliverables from assurance providers.- System and data administrator.- Have an Insurance / Risk management / Legal / Finance qualification.- Have experience in legal / insurance / risk management / banking / finance.- Have experience in corporate insurance - Financial Institutions cover (Professional Indemnity, Crime, Directors and Officers Liability, etc.) particularly beneficial.- Have 3 years’ experience in a similar environment.

You will have access to:
- Opportunities to network and collaborate.- Challenging Working- Opportunities to innovate.

We can be match if you have:
- Strong customer focus- Strong administration and organisational skills, good time management- Ability to deal with a variety of issues and effectively multi-task, pro-active- Excellent oral and written communication- Attention to details and good analytical skills

Job Details

Application Closing Date

30/01/24

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