Insure Portfolio Manager at TFG (The Foschini Group)

Job Description

• The Purpose of the role is to ensure effective financial oversight performance and optimization and strategic governance across the following insurance portfolios including Credit, Funeral and other Life Insurance business.
• The portfolios which this role takes care of collectively represent a material contribution to TFG insurance profitability, risk exposure, and long-term sustainability, while also spanning a mix of growth, mature and run-off products

Responsibilities

• Continuously develop the Insurance product strategies
• Identify and quantify opportunities for new product launches and product range expansion - Compilation, management of and responsibility for, full P & L budgets including detailed variance and performance reporting including: 
• End-to-end financial stewardship, ensuring alignment between Billings, Claims performance, Expenses and Net Margin outcomes incl. Budgeting, forecasting, and variance analysis across all products in scope
• Strategic financial and marketing planning and implementation
• Responsibility and accountability for external partner relationships
• Negotiation with relevant internal stakeholders at all levels within the organization with regards to strategies and store campaigns
•  Profitability optimisation, particularly where growth products (e.g. TFG MCLI and Funeral) must be balanced against rising claims costs and VAT-driven margin pressures
• Conduct regular reviews of the market, customer and competitor offerings
• Support for strategic decisions relating to product prioritisation, redesign, or exit
• Setting up and monitoring sales, delivery and activation targets
• Achieve Profit Objectives by managing the portfolio targets and growth strategies for a portolio of products within the insurance division
• Managing staff related to the portfolio
• Maintain close collaboration with Legal and Compliance department to ensure all products and processes comply with the relevant legislation
• Full knowledge of and compliance to all relevant legislation (STI, LTI, FAIS, NCA, CPA & POPI)
• Insurer and reporting requirements in line with regulatory reporting, market conduct reporting requirements for the portfolio of insurance products

Qualifications

• A Business Degree or similar
• Advance certificate in STI or LTI (advantageous)
• To have completed the RE 1 Exams and Class-of-Business Training in the Short-term and Long-term Insurance categories for Key Individual (KI) & Representatives (advantageous)
• To have met the requirement to be registered as a KI (advantageous)
• Ability to effectively apply financial and marketing knowledge to ensure growth of the portfolio
• At least 3- 5 years relevant business and marketing experience in a managerial/leadership role, including: 
• Experience with managing and to oversee portfolio product management, product development and product performance with the respective product managers and service providers
• 2 years’ experience in a supervisory role
• 2 years management experience managing a team of managers – [advantageous]
• Knowledge of Insurance products and relevant legislation (e.g. FAIS, Insurance Acts, POPI, etc) including: 
• Experience in distribution channel management with internal stakeholders and external service providers to ensure return on capital employed through measurable objectives
• Experience in operational oversight of financial services rendered and the processes to ensure TFC and compliance to the FAIS act
• Experience with building brands within financial services.
• Sound understanding & application of people management procedures [e.g. IR, coaching]

Skills:

• Analytical Processes
• Analyze Alternatives and Recommend Solutions
• Builds Rapport
• Business Case Contribution
• Claims Handling
• Claims Management
• Claims Notification and Investigation
• Claims Settlement
• Data Collection and Analysis
• Data Control
• Financial analysis
• Financial Modelling
• In-Depth Questioning
• Information Management
• Insurance Principles and Practice
• Insurance Products and Services
• Knows the Buying Influences
• Manages Buyer Indifference

Behaviours: 

• Being Resilient - rebounding from setbacks and adversity when facing difficult situations.
• Building Effective Teams - forms, develops and leads a group of individuals toward the achievement of a common team objective
• Builds Networks - establishes and nurtures internal and external relationships in order to create robust, and mutually beneficial, partnerships
• Cultivates Innovation - creates an environment that fosters and nurtures a culture of creativity which drives success
• Decision Quality - consistently makes timely, well-rounded and informed decisions
• Drives Engagement - inspires, motivates and empowers individuals to go above and beyond for the benefit of the team and the organisation
• Ensures Accountability - takes accountability and ensures others are held to account on agreed upon performance targets
• Manages Complexity - interprets and simplifies complex and contradictory information when resolving organisational problems
• organisational Savvy - understands and navigates dynamics created by processes, systems, and people
• Situational Adaptability - effectively adjusts their behaviour, approach, and decision-making based on the situation
• Strategic Mindset - thinks and plans strategically, focusing on the long-term goals and objectives of the organisation