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Senior Manager: Group Underwriting Policy
2 weeks ago
What will you do?
A position of Senior Manager Group Underwriting Policy & Governance exists in Santam. This role may be based at Head Office Tygervalley or Alice Lane Sandton and reports directly to the Chief Underwriting Officer and has dotted line reporting to the Chief Risk Officer.
To control the issuance of Underwriting Mandates across all business areas with underwriting authority across the Santam Group.
To design and implement a process to govern the adherence by business areas to their Underwriting Mandates, within a Combined Assurance framework working with the Group CRO Office and Group Internal Audit.
To provide thought leadership and assist to develop underwriting policy and minimum requirements at Group level.
Drive policy implementation around all aspects of Group Underwriting.
To manage a Group Underwriting Forum for Santam, at which underwriting issues are considered and discussed by underwriters across the group, including policy.
With the support of the CRO office, to monitor the Group’s gross and net underwriting exposures, based on its risk appetite. To assist the CRO office to report on and rectify breaches to the Group’s risk appetite.
To work with the SEM Chief Risk Officer and provide expert support and thought leadership on General Insurance Risk Management. What will make you successful in this role?
**Underwriting Governance function leadership**:
Manage the renewal of all Santam Group underwriting mandates, on at least an annual basis.
Manage the Group’s approval process for the extension of underwriting mandates and the implementation of new products.
Develop a plan for the oversight and auditing of underwriting practice across the Group, in conjunction with Group Internal Audit and the Group CRO Office, with clear responsibilities for execution over an agreed cycle.
Together with the Group CRO Office, expand and develop the underwriting risk metrics that are monitored in the Group and assist in monitoring, reporting, and addressing any deviations.
Ensure appropriate governance representation on the Risk Committees of all key business areas for monitoring and the provision of input where needed.
**Policy development and Thought Leadership**:
To provide thought leadership and assist to develop underwriting policy and minimum requirements at Group level.
Drive policy implementation around all aspects of Group Underwriting.
To manage a Group Underwriting Forum for Santam, at which underwriting issues are considered and discussed by underwriters across the group, including policy.
Latent claims exposure risk analysis, reviews, and remedial actions
With the support of the Group CRO Office, facilitate an ongoing process across business areas to review policy wordings from a legal and underwriting risk exposure perspective to identify potential unexpected latent claims, aggregations, and risks that cannot be tolerated by the Group.
Ensure that action is taken as agreed where it is agreed that policy wording must be modified.
Report to the Executive Risk Forum and the Group Risk Committee on a regular basis on the reviews conducted and actions taken.
Reinsurance gap exposure management
Within a combined assurance framework, ensure that the Group monitors and acts on any latent reinsurance exposure gaps that may lead it to exceed its risk appetite due to e.g. a difference in conditions between original policies issued and reinsurance treaties / facultative contracts, or due to legal issues of interpretation between policy wordings and treaty wordings.
Key parties within the combined assurance framework are Group Reinsurance Buying, Group CRO Office, Group Internal and External Audit, and Business Division Underwriting functions.
**Reporting**:
Feedback on findings and priority remedial actions required.
Assistance with risk and compliance reporting and submissions.
Performance and risk exposure management of Santam’s International Investments, working closely with SEM.
**Stakeholder Management**:
Maintain and develop effective relationships with key internal and external stakeholders. Qualification and Experience
Bachelor’s Degree (4-year).
Professional qualification as an actuary, underwriter, risk professional would be an advantage.
10 years of short-term insurance-related professional experience. Skills
Core technical skills in the areas of underwriting, reinsurance, and risk management.
Relevant technical expertise.
Ability to identify strategic needs, lead all aspects of executing on these, and generate alignment with key business partners.
Strong interpersonal, facilitation and verbal and written communication skills.
Excellent presentation skills that encompass clear, compelling communication.
Experience navigating large and complex organizations, including gaining access to key executives and stakeholders and successfully managing relationship building dynamics and processes (internal and external).
Ability to self-manage while managing assigned teams and pr
