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Job Description

Job Description:

A trade credit insurance underwriter plays a key role in the business, they are essentially part of the ‘front-of-office’ which means that you are the general contact person for our clients.

Therefore, you are required to take calls, respond to emails, manage expectations and keep to strict timelines.

A good understanding of the trade credit insurance industry is needed to manage client policies which can include making policy structure changes by means of endorsements, reviewing the policy on an annual and sometimes ADHOC basis as well as meeting with clients to better understand their requirements.  

This knowledge will also be used to formulate quotations for potential new business.

In addition to the above, the role requires you to use knowledge of financial statements, industries and the economy to conduct thorough risk assessments of our clients debtor’s book and submit motivations for authorization.

This will include gathering of information such as bank statements, financial statements, credit bureau updates and getting to understand the business being underwritten.

This information needs to be filed accordingly ensuring all admin is up to date. It is also required for adverse information to be interpreted and decisive action to be recommended as and when it occurs.

Uses specialist technical knowledge (medical or financial) to assess risk for business and/or specific products (Underwriter - inclusive of Financial Risk assessment,

 Age Assessment, Health Risk (Anti Selection Risk) based on size and cover, governance assessment, Quality management all done within the underwriting guidelines and product rules.

Uses specialist technical knowledge to evaluate and manage the validity of contracts and determine and manage the liability of claims (Assessor).

 Determines, selects and accepts risk and/or liability on behalf of the organisation (either medical or financial).

Evaluates proposals and medical / financial evidence against business rules and practices.

Exercises discretion in decision making within standardized practice.

Acts as mentor and coach for new staff.

Skills:

Able to work under pressure – good workflow management is required

Effective time management ensuring deadlines are met

Work task organization e.g scanning, motivations, reviews and endorsements

Attention to detail, adaptability, and ability to optimize resources

Computer literacy, with the ability to operate excel and create power point presentations

Good Telephone communication skills paired with professional writing. You will be dealing with brokers, clients and debtors on a daily basis.

Collaboration with team members

Ability to assess financial statements

Qualifications:

A degree in Finance, Risk or Economics will be advantageous.

Matric

2-5 years Underwriting experience

Reviews risk submissions from clients, agents, and referrals, and underwrites insurance requests within guidelines of the underwriting manual and authority limits. Applies underwriting and risk-selection techniques to determine acceptability of new and renewal insurance risks.

ResponsibilitiesUnderwriting Insurance Cases

Review new business and renewal proposals to ensure acceptability and completeness of underwriting and rating information, providing price quotations for underwriters and referring unusual or complex cases to senior colleagues.

Underwriting Automation

Carry out allocated research and analysis to support the development, validation, and improvement of automated underwriting processes and systems.

Organizational Risk Management

Keep track of risk parameters, identifying any deviations and reporting them to more senior colleagues. Involves working within established risk management systems.

Regulatory and Compliance Management

Investigate standard incidents using current regulatory and compliance processes, systems, and procedures, and take action to solve immediate compliance issues. Advise more senior colleagues on more complex problems.

External Communications

Help others get the most out of external communications systems by offering support and advice.

Recommendations

Advise managers how to apply a wide variety of existing procedures and precedents.

Document Preparation

Organize and prepare complex documents using a variety of applications for technology devices, such as standard office software. Also responsible for gathering and summarizing data for special reports.

Operational Compliance

Develop knowledge and understanding of the organization's policies and procedures and of relevant regulatory codes and codes of conduct to ensure own work adheres to those standards. Obtain authorization from a supervisor or manager for any exceptions from mandatory procedure.

Personal Capability Building

Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching. Develop and maintain an understanding of relevant technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.

Skills

Action Planning, Compliance Software, Computer Literacy, Crisis Management, Data Compilation, Data Controls, Legal Practices, Management Reporting, Numerical Aptitude, Oral Communications, Professional Presentation, Regulatory Compliance Management, Risk Management, Underwriting Management

Competencies

Action OrientedBusiness InsightCollaboratesCommunicates EffectivelyDecision QualityEnsures AccountabilityFinancial AcumenInstills Trust

Education

NQF Level 5 - Higher, Advance or Occupational Certificate or equivalent

Closing Date

13 March 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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