Manager: Underwriting and Reinsurance

Lets Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

Minimum Requirements:

• Namibian citizen.

• Tertiary qualification, ideally in business, risk management, finance or related field. A professional insurance qualification (e.g., AIIA or equivalent would be an added advantage).

• Minimum of five years of short-term insurance experience, with at least two years in management or leadership role.

• In-dept knowledge of reinsurance, i.e. Facultative and Treaty, etc.

• Experience in negotiating reinsurance contracts and managing reinsurance relationships.

• Computer literacy, good numeric skills and excellent MS Office skills are essential

• Ability to work under pressure

• Ability to work independently, be proactive and provide strategic insight

• Ability to operate at a tactical Strategy level of cognitive development with a proven track record of success in executing strategic objectives; and

• Excellent written and verbal communication as well as organizational skill

Job Description:

• Lead and manage the underwriting team to evaluate, assess, and price new insurance policies effectively, ensuring alignment with company guidelines and risk appetite.

• Establish and enforce underwriting standards and policies for various insurance products (property, motor, liability, etc.)

• Oversee the underwriting process, ensuring accuracy in the evaluation of risks, premium rates, and terms and conditions.

• Develop and implement strategies to optimize underwriting profitability and manage risk exposure.

• Collaborate with sales and marketing teams to tailor insurance products based on market needs and client profiles.

• Monitor claims trends and provide feedback to underwriting processes for risk mitigation

• Manage the company’s reinsurance program by developing and maintaining relationships with reinsurance brokers and providers.

• Negotiate reinsurance contracts, ensuring the company has the necessary coverage to protect against large losses while maintaining cost-efficiency.

• Review and assess reinsurance treaties, facultative arrangements, and excess of loss coverage.

• Work with internal stakeholders to determine appropriate retention levels and reinsurance needs for each line of business.

• Ensure compliance with regulatory requirements related to reinsurance arrangements.

• Perform reinsurance recovery processes in the event of large claims or losses, ensuring prompt and accurate submissions to reinsurers.

• Assess and monitor underwriting risks, ensuring compliance with internal policies and external regulatory standards.

• Support the development of the company’s risk management strategy by providing input on underwriting guidelines and reinsurance arrangements.  

• Ensure that underwriting and reinsurance functions adhere to industry regulations, statutory requirements, and best practices.

• Lead, train, and mentor the underwriting and reinsurance teams, ensuring high performance, development of technical skills, and compliance with company standards.

• Foster a collaborative environment, promoting teamwork, innovation, and continuous improvement.

• Monitor individual and team performance, providing feedback, coaching, and perf Provide regular reports and analysis on underwriting performance, profitability, and reinsurance claims.

• Monitor key performance indicators (KPIs) and provide recommendations to senior management to improve underwriting processes and reinsurance coverage.

Manages several underwriting professionals. Reviews and ensures conformance with underwriting policies, guidelines, and procedures by subordinate underwriters. Recommends changes in underwriting policies and procedures. Underwrites the large or more complex risks or provides final approval for those underwritten by subordinates.

ResponsibilitiesUnderwriting Insurance Cases

Act as a technical referral point for the team, providing guidance on underwriting complex and unusual cases and leading on decisions relating to high-value and complex risks to ensure that insurance contracts are constructed within acceptable commercial and risk parameters.

Underwriting Automation

Evaluate new or existing automated underwriting processes and systems and propose new and/or improved functionalities to reduce cost and/or enhance underwriting effectiveness.

Organizational Risk Management

Develop and/or deliver a contingency plan for significant aspects of the risk management and/or risk control processes.

Regulatory and Compliance Management

Help design and implement a compliance program, liaising with the regulator to ensure the program adheres to regulatory and compliance standards. This may also involve supervising the activities of a regulatory/compliance team.

Leadership and Direction

Communicate the actions needed to implement the function's strategy and business plan within the team; explain the relationship to the broader organization's mission, vision, and values; motivate people to commit to these and to do extraordinary things to achieve local business goals.

Performance Management

Manage and report on the performance of a substantial, diverse team; set appropriate performance objectives for direct reports or project/account team members and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of team/personal objectives.

Budgeting

Develop and/or deliver budget plans with guidance from senior colleagues.

Document Preparation

Write and edit material for various target populations, tailoring the tone and content to match the needs and expectations of each audience.

Financial Policies, Guidelines, and Protocols

Create a plan to deliver and review financial policies, guidelines, and protocols to ensure the company complies with regulations and good financial practice.

Organizational Capability Building

Use the organization's formal development framework to identify the team's individual development needs. Plan and implement actions, including continuing professional development specified by professional or regulatory institutions, to build their professional capabilities. Provide informal training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Skills

Accounting, Budget Management, Change Management, Data Compilation, Executing Plans, Financial Acumen, Large Group Presentations, Legal Practices, Management Reporting, Numerical Aptitude, Policies & Procedures, Presenting Solutions, Risk Management, Servant Leadership, Underwriting Management

Competencies

Balances StakeholdersBuilds Effective TeamsBusiness InsightCommunicates EffectivelyEnsures AccountabilityFinancial AcumenInstills TrustManages Ambiguity

Education

Bachelor Of Adminstration

Closing Date

11 March 2025 , 23:59

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