Market Conduct Analyst

Guardrisk, part of Momentum Group Limited, is South Africa's leading provider of cell captive business and alternative risk transfer solutions, offering tailor-made risk financing and access to professional reinsurance markets. As the market leader, we specialise in innovative cell captive structures that allow clients to operate their own insurance products within a ring-fenced facility, including underwriting, actuarial, legal, compliance and financial reporting services – without the costs and complexities of establishing an insurance company. Registered for most statutory classes of non-life and life insurance, we provide customised cover and strategic risk solutions. Our services cater to corporates that are serious about risk management, those facing complex or high-cost risks and businesses looking to offer their own branded insurance products.

The Market Conduct Analyst plays a critical role in assessing and analysing the market conduct within the life insurance industry, with a focus on understanding and improving the life insurance claims process. This role is responsible for the end-to-end ownership and resolution of all Market Conduct and FSCA regulatory requirements across multiple engagement channels. This role will also ensure point of contact resolution is delivered as far as possible, whilst ensuring that out-of-scope interactions are fully facilitated and managed through to resolution.

Responsibilities, work outputs and individual contribution.

Claims process analysis:

Understand, assess, and analyses the life insurance claims process in detail, ensuring that it meets regulatory requirements and best practices in market conduct.

Market Conduct Assessment:

Evaluate market conduct across various insurance lines (personal and commercial) in South Africa, identifying trends, potential risks, and areas where improvement is necessary.

Manage reporting and record-keeping to demonstrate compliance with regulatory obligations.

Data collection and Analysis:

Collect and analyse relevant data, including claims data, market feedback, and regulatory information, to develop insights that contribute to the improvement of market conduct and claims processes.

Reporting and recommendations:

Prepare clear, concise reports summarizing findings from assessments and providing actionable recommendations for stakeholders to improve practices and compliance.

Stakeholder engagement:

Collaborate with internal teams, including claims, compliance, and product development, to ensure alignment in understanding the market conduct landscape and to drive positive changes.

Risk Identification & Mitigation:

Identify and assess risks related to market conduct in claims handling, proposing solutions to mitigate these risks and ensure the claims process is fair, efficient, and customer focused.

Holistic view development:

Develop a holistic view of market conduct from the assessment results and share findings with senior management to aid decision-making and strategic initiatives.

Qualifications

LLB Degree

Experience

3-5 years' experience in a similar role, preferably within a non-life insurance industry, focusing on claims processes and market conduct analysis.

Experience in analysing commercial and personal lines insurance products in South Africa is essential.

Understanding people: Shows empathy and compassion; attends and listens to people; is attentive and understands the motivation in others.

Examining information: Analyses and processes information; asks probing questions; strives to find solutions to problems.

Taking action: Takes action to make things happen; uses initiative to start things up; shows drive and invests personal energy.

Upholding standards: Behaves ethically and justly; is discreet and maintains confidentiality; meets commitments by acting with integrity.

Checking things: Is meticulous in finding errors; ensures accuracy by being thorough and checking details; produces high quality work by being detailed.

Documenting facts: Writes fluently when documenting facts; understands arguments logically; focuses on finding facts.

Meeting timescales: Is target focused and meets deadlines; is punctual and keeps to schedule; is reliable in finishing tasks.

Showing composure: Stays calm and relaxed during events; is not worried and tolerates stress levels; is composed in dealing with pressure.