Portfolio Manager: UMA at Santam Insurance

ABOUT THE OPPORUNITY

• The Portfolio Manager will be reponsible for managing a strategic portfolio of Underwriting Management Agencies (UMAs) under Santam’s UMA incubator structure.
• This role ensures effective onboarding, oversight, and commercial performance of UMA partners while driving execution across the value chain—including acquisitions, reinsurance structuring, operational integration, and system alignment.
• Acts as the commercial custodian, interfacing with internal technical functions (Underwriting, Reinsurance, Finance, Legal, and Compliance) and external stakeholders (reinsurers, UMA principals, brokers).

RESPONSIBILITIES

Partnering with UMA Businesses

• Take ownership of strategic relationships with UMA partners, applying a client-centric approach.
• Coordinate, facilitate, and build long-term strategic relationships with UMA clients and business partners.
• Negotiate business terms and contracts with UMA clients in alignment with strategic and commercial objectives.

Account Management

• Oversee the overall financial, operational, and service delivery to a portfolio of UMA clients, according to agreed service standards.
• Coordinate all internal resources—including Underwriting, Compliance, Legal, Finance, and IT—to ensure effective service delivery.
• Manage and monitor the performance of third-party administrators where applicable.

Commercial Growth and Acquisitions

• Drive profit contribution of the UMA portfolio through strategic account development.
• Develop trusted business partner relationships and assist UMAs in shaping and executing their business strategies.
• Identify and evaluate cross-selling opportunities and potential UMA acquisitions.
• Lead or participate in acquisition assessments, due diligence processes, and onboarding of new UMA partners.
• Support sustainability and succession planning for UMA businesses.

Business Development

• Identify and secure new UMA partnerships and business opportunities, aligned with incubator strategy.
• Participate in developing and implementing the UMA business strategy.
• Adopt a proactive sales and market engagement approach to grow portfolio value.

Team Leadership

• Lead and mentor Client Management Team members, ensuring consistent service delivery to UMA clients.
• Manage team performance and resource allocation to meet portfolio needs.

Risk & Governance

• Manage risks associated with UMA relationships, ensuring compliance with contractual, regulatory, and reinsurance requirements.
• Prepare budgets, forecasts, and performance reports, monitoring variances and implementing corrective actions.

QUALIFICATION and EXPERIENCE

• Minimum 5 years’ experience managing outsourced insurance businesses, UMAs, or insurance partners
• Business qualification or equivalent relevant experience
• Professional insurance qualification or equivalent experience (FAIS compliant)
• Corporate and commercial underwriting experience (advantageous)
• Proven exposure to reinsurance structuring and acquisition processes

KNOWLEDGE and SKILLS

• Client-centric relationship management
• Strong negotiation and contract management skills
• Ability to work under pressure, adapt, and make sound decisions
• Strategic and commercial thinking with entrepreneurial flair
• In-depth knowledge of UMA business models, market dynamics, and partner requirements
• Technical insurance expertise (corporate and commercial underwriting)
• Understanding of compliance and regulatory frameworks for UMAs
• Reinsurance structuring knowledge (treaty and facultative)
• Cell captive structuring knowledge (advantageous)
• Strong financial acumen, including ability to interpret financial statements and calculate performance ratios (e.g., ROE)
• Proven ability to identify acquisition opportunities and conduct commercial due diligence
• High-level interpersonal skills, stakeholder engagement, and influencing ability
• Project management, product development, and research skills