Insurance Manager

3 months ago

Johannesburg, South Africa Nedbank Full time

**Requisition Details & Talent Acquisition Consultant**
- REQ 135573 Thembi Mtshali- Location: Johannesburg- Clsoing date:
- Job Family- Administration, Operations and Facilities
- Career Stream- Admin, Transact Processing and Production
- Leadership Pipeline- Manage Self: Technical
- FAIS Affected- FAIS Affected - Yes**Job Purpose**
- Collaborate with the Head: Group Insurance and senior management to oversee the administration of Group corporate insurance policies.
- Create, implement and enhance the frameworks, internal policies and procedures for the management of Group insurance policies and claims across various locations.
- Support the Head: Group Insurance in the implementation of an effective strategy for the annual procurement of Group insurance policies and/or alternative risk transfer solutions.
- Participate in managing insurance placement and claims administration to ensure timely reimbursements.
- Foster strong relationships with key stakeholders in the insurance sector such as brokers, insurers, third-party captive managers and loss adjusters.

**Responsibilities**:
**Stakeholder Management (30%)**
- Build and maintain successful connections and flow of information with key stakeholders, spanning the insurance industry and within business and functional groups.
- Leverage established relations for the smooth resolution of claims.
- Address stakeholder inquiries promptly and effectively as the first point of contact.
- Personally ensure issues, questions, and claims are resolved professionally and swiftly.
- Aid in promoting an insurance risk culture within the organisation.

**Insurance Risk Management (40%)**
- Support Head: Group Insurance in meeting deliverables as per the annual insurance policy renewal timetable for the Group.
- Implement appropriate and robust claims management and policies framework
- Review Group insurance policies and standards annually.
- Design and upkeep process documents for Group Insurance in compliance with Group policy requirements.
- Analyse cost-benefit of funding options for insurable risks to guide Business Units.
- Finalise group-wide premium allocation model.
- Create and enhance insurance guidelines, communicate them, and train staff on Group Insurance processes.
- Abide by local insurance regulations and stay current with international laws affecting the Group.
- Help with internal audits and remedy findings proactively.
- Gather data and analyse Key Risk Scenarios or trends for Business Units.
- Drive a culture of active compliance within the function

**Job Responsibilities Continue**

**Innovation (10%)**
- Seek continual enhancement of team processes for efficiency.
- Aim for high productivity and look for opportunities to better processes and systems within your portfolio by continuously identifying opportunities to improve process efficiency within the team including contributing towards digitisation and implementing solutions for group wide impact.

**Reporting (20%)**
- Prepare, collate appropriate and reliable data for managing insurance risk and claim processes.
- Keep risk templates and reporting tools up-to-date for the team's use.
- Monitor progress and report on claims resolutions.
- Prepare and maintain a specific Insurance Risk dashboard for group wide corporate insurance claims.
- Support the mitigation of risk to Nedbank Group by monitoring, identifying and reporting trends in insurance claims.

**Critical aspects of the Role**
- The role may require periodic travel within South Africa and Nedbank Africa Regions.
Graduate-level capability is expected along with proven business experience.
- Essential Qualification- B Com Degree in Accounting, Financial or Risk Management, or Banking.
- Preferred Certifications- Holding an Associate or Fellowship from the Insurance Institute of South Africa is beneficial
- Minimum Experience Level- Minimum five years' experience in financial management, risk, claims, or as an Insurance Manager.
- At least five years in the insurance or banking sector is required.
- Technical / Professional Knowledge- In-depth knowledge of insurance market operations, contract terms, risk management and familiarity with international markets.
- Understanding of financial institutions and their risk exposures.
- Knowledge of Basel III or IV and their effects on operational risk/insurance mitigation.
- Profound awareness of group insurance policies, criteria for underwriting, insurance policy frameworks, terminologies, and exclusions.
- Effective relationship management skills with stakeholders, brokers, and insurers.
- Competent interpersonal abilities to win internal stakeholder approval for insurance program necessities and risk controls.
- Skilled negotiator in insurance contracts.
- Excellent communicative proficiency both verbally and in writing.
- Strong investigative and analytical aptitude, including problem-solving and innovative thinking.
- Ability to compile and interpret information from various sources for

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