Specialist Underwriting Auditor at Old Mutual South Africa

Job Description

• To manage and deliver an integrated and independent underwriting audit function for the Retail Business portfolio to ensure that risk management, underwriting, systems and critical control processes operate effectively and in line with the binder agreements. Provide feedback to management any issues and ensure timeous compliance to all findings.

Organizational Risk Management | FINANCE AND ACCOUNTING | RISK MANAGEMENT

• Ensure the organisation is not exposed to undue risks by using risk management systems to achieve specific goals within a designated area of the business. Manage a significant portion of the organization's risk management and/or risk control processes.

Regulatory and Compliance Management | CORPORATE AFFAIRS | REGULATORY AND REGISTRATION

• Ensure statutory and legislative knowledge is always current. Ensure adherence to organisational policies, practices and procedures. Analyse audit findings to identify patterns or areas where underwriters might be deviating from guidelines or making inconsistent decisions.
• Provide constructive feedback to the Binder partners on audit findings, highlighting areas for improvement and potential risks.

Leadership and Direction | GENERAL | LEADERSHIP AND SUPERVISION

• Communicate the local action plan; explain how this relates to the function's strategy and action plan and to the broader organization's mission and vision; motivate people to achieve local business goals.

Performance Management | GENERAL | LEADERSHIP AND SUPERVISION

• Develop and propose own performance objectives; take appropriate actions to ensure achievement of agreed objectives, using the organization's performance management systems to improve personal performance.
• Or manage and report on team performance; set appropriate performance objectives for direct reports or project/account team members and hold people accountable for achieving them, taking appropriate corrective action where necessary to ensure the achievement of team/personal objectives.

Organizational Capability Building | GENERAL | LEADERSHIP AND SUPERVISION

• Use the organization's formal development framework to identify the team's individual development needs. Plan and implement actions to build their capabilities. Provide training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Manage the Integrated Underwriting Audit Function | CUSTOM

• Review the internal quality control framework for outsourced business from an underwriting and third-party system view. Drive and maintain the implementation of the monitoring of outsourced activities, including underwriting, system, and regulatory compliance within the Retail division to ensure alignment with granted mandates and the business strategy.
• Monitor and maintain adherence to agreements and related mandates, reporting where there is noncompliance . Develop an audit calendar within the Retail portfolio to ensure there is a risk-based approach in terms of targeted audits, scheduled audits and that there is efficient service delivery through partnership with key stakeholders.

Operational Compliance | QUALITY ASSURANCE | COMPLIANCE/AUDIT

• Provide input in terms of the agreed processes to ensure improvement and alignment to underwriting guideline and binder agreement adherence. Maintain an audit calendar that ensures regular audits are done on all binder partners within an 18-month cycle.
• Enforce and review risk and control remedial activities and gaps with business, that were identified following an audit, in order to effectively mitigate the risks identified. Manage the audits 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.

Service Delivery | CUSTOM

• Conduct initial and close out meetings with binder management teams to ensure objectives are met and there is consistency in our approach. Maintain service, quality and desired outputs across the business process by ensuring compliance to tactical policies, procedures and standards. Identifying root causes of issues identified during audits and proposing solutions to mitigate risks.
• Establish productive operational relationships with key stakeholders in the various channels and teams. Develop work routines in line with audit plans / schedules in order to manage and meet objectives. Be clear when auditing of timing requirements to ensure all parties understand the commitments. Where possible play a role to improve and implement new standards, control systems and procedures to enhance service delivery.

BEHAVIORAL COMPETENCIES CAPABILITY

• Instills Trust Gains the confidence and trust of others through honesty, integrity, and authenticity. For example, is consistently honest and straightforward; shares uncomfortable information in a clear and helpful manner. Maintains high ethical standards and professional codes of conduct.
• Optimizes Work Processes Knows the most effective and efficient processes to get things done, with a focus on continuous improvement. For example, pays close attention to a variety of metrics and benchmarks; determines both major and subtle ways to optimize processes. Swiftly resolves process breakdowns; takes steps to ensure that problems do not recur. LEVEL 4
• Ensures Accountability Holds self and others accountable to meet commitments. For example, measures and tracks team's and own performance, and helps the team learn from success, failure, and feedback. Adheres to, and enforces, goals, policies, and procedures
• Business Insight Applies knowledge of business and the marketplace to advance the organization's goals. For example, has a sophisticated grasp of business drivers, finds new ways to increase own contribution. Stays attuned to business and industry changes, ensures own activities remain aligned to key objectives.
• Manages Complexity Makes sense of complex, high quantity, and sometimes contradictory information to effectively solve problems. For example, looks at complex issues from multiple angles; explores issues to uncover underlying issues and root causes; sees the main consequences and implications of different options.
• Communicates Effectively Develops and delivers multi-mode communications that convey a clear understanding of the unique needs of different audiences. For example, disseminates knowledge, insights, and updates in a polished, precise, and compelling manner. Demonstrates a deep interest in others' comments. Creates rich documents and reports.
• Plans and Aligns Plans and prioritizes work to meet commitments aligned with organizational goals. For example, strengthens alignment and coordination between own work and others', providing well sequenced activities and exact time frames. Foresees and resolves many potential bottlenecks and delays.
• Action Oriented Takes on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm. For example, takes immediate, decisive, independent action to resolve issues or problems. Persists as needed. Quickly and consistently identifies and pursues beneficial new opportunities.
• Decision Quality Makes good and timely decisions that keep the organization moving forward. For example, consistently demonstrates strong judgment; may be sought out by others for expertise and guidance. Takes smart, independent action in urgent and non routine situations, knows when to escalate for others' involvement.
• Organizational Savvy Maneuvers comfortably through complex policy, process, and people-related organizational dynamics. For example, builds support for ideas among key decision makers and stakeholders. Anticipates political difficulties and identifies ways to overcome any resistance.
• Financial Acumen Interprets and applies key financial indicators to make better business decisions. For example, determines and estimates the main direct and indirect costs; makes generally appropriate decisions regarding expenditures. Studies financial and quantitative information; uses data to improve performance.
• Persuades Uses compelling arguments to gain the support and commitment of others. For example, convinces others through a variety of means and methods of persuasion, including well reasoned rationale. Recognizes when compromise is necessary and shifts approach to accommodate others.

SKILLS

• Policy and Regulation Works at an advanced level to interpret and apply knowledge of laws, regulations and policies in area of expertise. Typically works independently and provides guidance.
• Review and Reporting Works at an advanced level to create reports, and review reports created by others, for various audiences as relevant, in a lucid and effective manner, keeping in mind the purpose of reports. Typically works independently and provides guidance.
• Risk Management Works with full competence to identify, assess, prioritize and manage risks. Typically works without supervision and may provide technical guidance.
• Threat Assessment Works with full competence to identify, analyze, and prioritize potential organizational threats, gather intelligence to evaluate their credibility and potential impact, and use analytical techniques to differentiate real from perceived threats, while proactively monitoring emerging threats and planning for organizational preparedness and resilience. Typically works without supervision and may provide technical guidance.
• High Risk Typologies Methodologies Works with full competence to identify and analyze patterns in high-risk financial activities and typologies, understanding the financial crimes risks posed by various high-risk activities and instruments such as money services businesses, payments companies, virtual currencies, cash intensive businesses, hedge and private equity funds, foreign correspondence banking, non operating companies and payroll service companies. Typically works without supervision and may provide technical guidance.
• Negotiation Works with full competence to obtain consensus between two or more parties who may have different interests, for the benefit of the organization. Typically works without supervision and may provide technical guidance.
• Presentation Skills Works with full competence to communicate and deliver information verbally in a clear, concise and compelling manner to other people. Typically works without supervision and may provide technical guidance.
• Verbal Communication Works with full competence to express ideas, request actions, formulate plans, & policies by means of clear and effective verbal communications. Typically works without supervision and may provide technical guidance.
• Effectively Presents Solutions Works with full competence to communicate and articulate potential resolutions or strategies in a clear, compelling, and tailored manner to address specific challenges or meet organizational needs. Typically works without supervision and may provide technical guidance.
• General Education Bachelor's Degree or Equivalent Level LEVEL 6 General
• Experience Experience enables job holder to deal with the majority of situations and to advise others (Over 3 years to 6 years) LEVEL 6
• Managerial Experience Experience of supervising and directing people and other resources to achieve specific end results within limited timeframes (13 months to 3 years)

Skills

• Adaptive Thinking, Compliance Software, Cultural Awareness, Data Compilation, High Risk Typologies Methodologies, Manages Resistance, Negotiation, Oral Communications, Policy and Regulation, Presenting Solutions, Professional Presentation, Report Review, Risk Management, Threat Assessment, Workflow Management

Competencies

• Balances Stakeholders
• Business Insight
• Communicates Effectively
• Ensures Accountability
• Financial Acumen
• Instills Trust
• Manages Ambiguity
• Optimizes Work Processes

Education

• NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent (Required)

Closing Date

• 04 September 2025