Head Technical Underwriting

SUMMARY:
An exciting new opportunity has become available at one of my clients. I am looking for a Head Technical Underwriting for a CUO Team.

POSITION INFO:
Role Objectives:

• Support the Chief Underwriting Officer (CUO), Cluster Heads and Product Champions with input and the implementation of strategic underwriting functions.
• Monitor, improve and maintain the underwriting philosophy in terms of products (wordings, endorsements, proposal forms, ratings, mandates, underwriting referrals, perform audits, pricing adherence, policy wordings, endorsements, standards and reinsurance).
• Drive the reinsurance strategy (treaty and facultative) and ensure adherence to the day-to-day application thereof by ensuring that implemented processes are followed.
• Manage and lead risk management, including underwriting and claims, internally as well as externally.
• Implement, maintain and enhance the standards of risk management.
• Ensure that all technical aspects pertaining to the underwriting teams are adhered to.
• General support to the CUO.

• Accountable for the implementation of the underwriting strategy, standards, results, regular mandate reviews and issuing and technical skills development of the broader underwriting team.
• Drive assigned projects, product development, interventions with regard to raters, market conditions and product enhancements.
• Ensure that underwriting standards are adhered to and are in line with the risk appetite and mandates.
• Ensure that profitable and sustainable underwriting management principles and ensure that underwriting processes are in place and actively manage adherence.
• Develop a deep understanding of the industry sectors in which the company operates.
• Engage with stakeholders and understand high risk areas of professions and industries and create minimum internal risk management and underwriting requirements, including communication of such outcomes to the business and ensuring the implementation thereof.
• Understand and report on current and future trends and their implications from claims learnings as well as both macro- and micro-economic factors influencing such trends.
• Provide technical training internally and potentially externally.
• Consider and take appropriate action on emerging risks and trends, in collaboration with claims and underwriting.
• Prepare reports for Underwriters, claims and leadership that communicate clearly where the focus of attention is required.
• lllustrate where this relates to proposal forms and policy wordings.
• Create additional risk surveys templates, to assist with identifying and underwriting complex risks.
• Monitor risk selection and obtain feedback of declined, vetoed risks, and high risks.
• Provide strategic support on strategies, to improve and monitor risk selection.
• Attend product cluster Exco’s.
• Provide required details to quality assurance and internal audit (underwriting and claims) for control and governance purposes.
• Develop a risk based audit plan, maintain the audit programme, conduct audits, ensure written feedback to the business, attend feedback meetings and ensure remediation and adherence to recommendations.
• Reporting: Provide the necessary reporting on financial and operational indicators. Provide feedback (reporting) to senior management on achievements, pending issues, problems and suggested recommendations.
• Assist the CUO with underwriting referrals. Make recommendations and take decisions on technical underwriting within the mandates assigned. Assist teams with resolving complex problems while ensuring adherence to standards, mandates and sound underwriting principles.
• Support the CUO in all facultative and treaty reinsurance requirements, including RI training.
• Prepare CUO memo’s for distribution.
• Prepare the Risk Committee agenda and actions arising therefrom and ensure adherence and implementation thereof.
• Recordkeeping (documents, e-mails etc.) to be kept up to date at all times.
• Effective and timeous communication: Communicate effectively with external parties as well as underwriting team and other departments and respond to queries within 24 hours.
• Continuous Process Improvement: Ensure full compliance to all processes, policies and procedures and identify areas for improvement.
• Innovation: Participate with senior management in initiatives around product development, processes, policy and strategy.
• Market Intelligence: Sound knowledge of underwriting and claims principles in the industry as well as stay ahead of legislation.
• Ensure that customers are treated fairly and adhere to POPIA requirements in conjunction with both internal and external compliance requirements.
• Ensure strong relationship management with all stakeholders.
• Employee Growth: Take responsibility for your own career growth and have regular discussions with the relevant role players. Transfer core underwriting knowledge and RI capability.

• Risk Management, BCom Degree / or relevant business qualification
• Sound understanding of special risk short-term insurance, with at least 10 years’ experience including:
  • Underwriting procedures
  • Claims procedures
  • Insurance terminology
  • Legal knowledge (Prescription Act, Insurance Act, and FAIS)
  • Risk management
  • Reinsurance and treaties
  • Product knowledge
• Inquisitive and analytical
• Networked - RI brokers, industry associations, loss adjustors, and Attorneys
• Able to work alone
• Risk management mindset
• Excellent legal knowledge
• FAIS compliance
• Self-management skills and a self-starter (can organize work, space, and time)
• Good communication skills (including report writing and presentation skills)
• Relationship management skills (have the right approach with the right people)
• Negotiation skills (internal & external)
• Numeracy skills
• Analysis and interpretation of data pertaining to portfolios, reports and market conditions
• Demonstrate common sense, self-motivation and discipline
• Sound knowledge of MS Office (including Word, Excel, PowerPoint, and Outlook)