Fund Associate at Discovery Limited

Job Purpose 

• Effectively and productively assist restricted schemes in managing their responsibility to comply with all the regulatory and legislative requirements and minimise the compliance risks identified in business. The role entails the possible ownership, facilitation and oversight of a small and less complex scheme or full Fund Management support in taking over some of the Fund Management functions from the Executive Fund Manager. The role is intended to serve the InHouse Division’s succession planning needs, support, and administration for our Fund Managers. 

Areas of responsibility may include but not limited to:

LEGAL, GOVERNANCE & COMPLIANCE

• To ensure that the schemes managed have governance structures in place and to ensure that these structures are applied and adhered to.
• Compliance with all requirements in terms of the schemes’ annual regulatory calendar.
• Liaise with the Regulator regarding key scheme deliverables and communications.
• Supporting in drafting, updating, and managing various administrative, managed care and other contracts (including third party contracts).
• Supporting in drafting, implementing, and monitoring all schemes’ policies, mandates, and resolutions.
• Support the management and oversight of regulatory projects.
• Support the process of ensuring overall adherence with Service Level Agreements.
• Assume responsibility for the role of the Fund Manager when the Fund Manager is not available.

RISK MANAGEMENT

• Support and manage the SRM team in respect of alignment with scheme strategies and ensuring reporting of scheme key cost and utilisation drivers in the SRM environment (including development and presentation of creative proposals to address such issues).

STRATEGY, RELATIONSHIP MANAGEMENT & STRATEGIC REPORTING

• Liaison between different parts of the business to ensure overall implementation of Scheme strategies and decisions.
• Sustainable client relationship with the schemes and all its management structures.
• Negotiate, consult, influence, and build relationships with key internal departments and external organisations from time to time, such as professional bodies, marketing agencies, and research organisations.
• Assist with the take-on process of new schemes and maintaining client relationships.

FINANCE & AUDITS

• Liaison with Auditors (internal and external) regarding various audits agreed throughout the year.

OPERATIONS

• Liaison with departments to ensure query resolution and collating of information to be passed on to the respective Boards and/or Subcommittees of the Boards.
• Liaise with clinical staff and the clinical risk department with respect to delivering the schemes’ expectations of our schemes.
• Support the FM with the planning, organising and control the activities of the administrator to deliver on Scheme requirements.
• Liaise with staff across the business regarding queries.
• When necessary, liaise with the claims department regarding payment of claims.
• Attend all client operational meetings.
• Represent Fund Management at Operations Committees.
• Manage and oversee significant scheme projects.

MARKETING & COMMUNICATIONS

• Ensuring the schemes’ interests and brand needs are met and sustained within Discovery.
• To support Marketing Services in the design and development of the schemes’ marketing material, including material regarding their year-end processes/launches, Annual General Meetings, and all other member, employer, and provider communication.
• To support schemes and Marketing Services in developing and designing below-the-line and above-the-line advertising strategies and campaigns.
• Support Marketing Services in ensuring the schemes’ website design and content remains updated.
• Support Marketing Services in ensuring the schemes’ mobile app design and content remains updated.

SYSTEM DEVELOPMENT & REPORTING

• Oversee the development of, and initiate requirements for new reporting and PowerBI (or other) dashboards and templates for scheme reporting.
• Identify opportunities to improve and automate reporting.
• Ad-hoc reporting requirements as requested by schemes.
• Oversee the preparation of Board and Sub-committee reports.
• Compile or arrange for the compilation of reports for Board meetings and/or according to schemes’ needs.
• Liaise with the Business Intelligence department for the necessary reports required.
• May be required to take responsibility for specialised reporting such as IT Security and IT Governance reporting.

DISCOVERY REPRESENTATION

• Supporting the Fund Manager in ensuring the Discovery profitability, strategic imperatives and operational interests are protected, and targets are met in terms of fee structuring and new scheme initiatives.
• Represent the Discovery position on key issues at relevant forums/schemes (where relevant with Fund Management support).
• Where required, responsible for relationships and communication between the various Discovery subsidiaries (where relevant with Fund Management support).
• Ensuring colleagues and other work streams consider the needs of the schemes when developing new products, processes, communication, and structures, etc (where relevant with Fund Management support)..

Personal Attributes and Skills

• Analysis and problem-solving skills.
• Basic business Acumen (keenness and speed in understanding and deciding on a business solution in a manner that is likely to lead to a good outcome).
• Conflict management skills.
• Developing knowledge expert within the environment, including product and legislation.
• Reporting and presentation skills.
• Attention to detail.
• Good communication, presentation, writing and influencing skills.
• Interpersonal skills.
• Negotiation skills.
• Organisational skills.
• Good presentation skills.
• Good problem-solving skills.
• Good report-writing skills.
• Deciding and initiating action.
• Relating and Networking.
• Excellent English verbal and written communication skills.
• Developing knowledge of modern management principles and procedures.

Education and Experience

• Matric
• Business/Administration/Secretarial Diploma
• Bachelor’s degree advantageous
• 1–3 years Senior Fund Coordinator experience in the medical scheme industry.