Senior Manager: Risk Management Insurance - JHB at SNG GrantThornton

Key Responsibilities:

Strategic Planning:

• Develop a comprehensive Insurance (risk financing) strategy that is responsive and bespoke to organisational business risk exposures
• Identify market opportunities, consumer trends, and competitive threats to inform strategic decision-making within the insurance space.

Regulatory Key Individual:

• Key individual for insurance business – Effective and efficient management of the insurance licence for sustainable, profitable underwriting position for SAPO group for both 1st party and 3rd party products, and ensure operational compliance to FAIS Act.
• Through, Compliance and Regulatory, Interact with the FSCA and any other relevant statutory bodies on matters of Insurance compliance to ensure SAPO group adheres to identified standards and norms

Team Leadership:

• Lead and motivate multidisciplinary teams reporting to you, providing guidance, coaching, cross skilling and support to achieve performance targets and deliver exceptional results.
• Foster a collaborative and cross-functional work environment, encouraging teamwork and innovation to drive continuous improvement and excellence.
• Establish a quality culture for claims negotiating, settlement and approval
• Establish value added reporting structures to business units

Stakeholder Relationship Management:

• Establish a professional work environment to enhance dealings with internal and external customers such as legal professionals (e.g. insurance companies), service providers and members of the public.
• Maintain strong professional relationships with internal clients to understand their needs, address their concerns and act as a trusted insurance/risk advisor, ensuring effective communication, and conflict resolution to achieve mutually beneficial outcomes.
• Maintain strong professional relationships with strategic partners and stakeholders (Regulator and critical service providers)
• Drive optimum output through active performance management of critical service providers to ensure efficient service delivery.

Risk Financing Strategy Execution:

• Risk facilitation and process integration across the Group and– Initiate pro-active risk exposure identification processes at all levels within different Business Units and disciplines and formulate and advise on optimum risk finance response strategies where applicable.
• Formulate and table risk financing solutions and proposals to various business risk owners
• Risk control and risk awareness (Group level) – initiate cost effective programmes and reports to elevate awareness across the organisation and to various management levels
• Assess BU compliance against established insurance policy requirements, identify and communicate gaps and ensure resolution of identified issues in the form of adequate management actions
• Renewal of insurance process (annually or as required)
• Conduct benchmarks and gap analyses on established practices for continuous improvement
• Risk financing (Group level) – Exclusively for company assets, the most economical insurance placement for the Company; data collection; projecting scenarios, and shared with insurance providers to secure best premium
• Develop and execute Loss administration framework and legal recovery – through legal services
• Cell captive management (Group level) – Effective and efficient management of the insurance licence for sustainable, profitable underwriting position for SAPO group products, including assets
• Facilitate a process of embedding compliance to insurance principles within BUs through constant monitoring and provision of appropriate feedback, guidance and support

Performance Analysis and Reporting:

• Analyse integrated operational and financial data, KRI to constantly assess risk exposure against available cover for adequacy, and identify and advice on risk financing areas for optimisation and enhancement.
• Prepare regular reports, dashboards, and presentations for Executive management, providing insights, recommendations, and actionable strategies to drive continuous improvement and achieve business objectives.
• Issue monthly reports and recommendations to business units
• Ensure that all claims are being settled within prescribed period

Qualification:

• Postgraduate qualification (NQF Level 8) (Business/Finance/Risk Management or equivalent)

Experience:

• Minimum of 10 years multi-disciplinary experience across the organisation which must include core operations, financial management and risk management experience 
• At least 5 years in leadership or management role