Vacant Job Positions at Old Mutual South Africa

Job Description

• To deliver an integrated & independent first line monitoring function for the outsourced Retail portfolio in order to ensure that risk management, governance & critical control processes are operating effectively. Drive the delivery of assurance services that are designed to add value to business objectives by bringing a systematic, disciplined approach to evaluate & improve the effectiveness of risk management, control, and governance processes

First line Oversight and Monitoring

• Monitoring of outsourced activities within Retail to enable the business strategy.
• Monitor and maintain adherence to agreements and related mandates.
• Execute the annual Monitoring Plan to ensure a balance of optimal risk coverage and efficient service delivery through partnership with key stakeholders, including Risk and Compliance, Internal & External Auditors and Regulators.
• Drive the implementation of the Monitoring and Oversight strategy that focuses on areas that requires attention while having a forward-looking view of any changes that impact processes and controls, both internally and externally. Identify audit requirements to support, evaluate and monitor the strategy.
• Provide input into the Third-Party Management Framework to ensure alignment to the company strategy and all risks are managed appropriately within the risk portfolio.
• Perform regular risk assessments as per the approved Annual Monitoring Plan to maintain the relevance thereof, assessing both internal and external risk factors within the portfolio.
• Review risk and control remedial activities and gaps that were identified in order to effectively mitigate risks to the business.
• Drive innovation and improvements in the oversight and monitoring function to remain relevant.
• Perform reviews across the business to understand capabilities within the business, adherence to agreement terms, exposures, pricing techniques and changes, claims trends and issues to ensure continued acceptable performance of the portfolio.
• Oversight on performance of the portfolios and significant losses and trends.
• Monitoring and oversight of reinsurance processes to ensure that adequate reinsurance is in place to mitigate risks.

Continuous improvement to ensure effective service

• Ensure statutory and legislative knowledge is always current in order to resolve customer complaints, to advise the business on corrective solutions to mitigate risks and to improve the customer experience whilst complying with governance requirements.
• Ensure adherence to organisational policies, practices and procedures.
• Identify solutions to enhance cost control, increase operational efficiency and manage operating budget goals.

Service delivery to ensure customer satisfaction

• Maintain service, quality and desired outputs across the business process by ensuring compliance to tactical policies, procedures and standards.
• Establish productive operational relationships with key stakeholders in the various channels and administrative teams.
• Develop work routines in line with audit plans / schedules in order to manage achievement of goals and objectives.
• Share knowledge on, and participate in the creation of new standards, control systems and procedures to enhance service delivery.

Ensure cost efficiency through financial and corporate governance

• Identify solutions to enhance cost effectiveness and increase operational efficiency.

Nurture a culture of high performance

• Align own behaviour with the organisations culture and values.
• Share knowledge on, and participate in the creation of new standards, control systems and procedures to maintain service delivery.

Skills

• Internal Auditing, Short Term Insurance

Education

• Advanced Diploma In Insurance Management, High School (Grade 12)