Underwriting Manager at Nedbank

Job Purpose

To manage; plan and control the Underwriting Department to profitably grow the risk book on an underwriting and administration basis; in line with Nedbank's business strategy

Job Responsibilities

• Ensure the implementation and development of underwriting management strategies.
• Manage and monitor short term underwriting requirements and decisions to ensure cost effectiveness of pricing. 
• Provide input into budget determination around headcount and cost of landing business. 
• Ensure transformational targets are met. 
• Contribute to a culture of transformation by participating in Nedbank culture building initiatives, business strategy, and CSI. 
• Stay abreast of developments in field of expertise, ensuring personal and professional growth. 
• Lead organisational change initiatives by providing direction and aligning to strategy and culture. 
• Ensure issues raised in culture surveys are addressed and results are improved. 
• Deliver a world class service through others by ensuring a client centric culture through required interventions. 
• Identify areas of resource inefficiencies and promote optimization through multi-skilling and addressing capacity gaps. 
• Manage adherence to agreed SLAs. 
• Update any service agreement / contracts in place as and when required, including annual review. 
• Make formal presentations to all business stakeholders to promote and enhance stronger business relationship.
•  Collaborate with internal and external clients through attending business meetings and presentations and attending underwriting specific seminars. 
• Manage and monitor short term underwriting decisions. 
• Accept and authorize high levels risks within company guidelines. 
• Develop, implement and update the underwriting rules outcomes based on current approach to specific impairments. 
• Conduct underwriting audits bi-annually to ensure underwriting philosophy and decision-making in keeping with the risk appetite. 
• Ensure automated workflow within the administration system is delivering the desired outcome. 
• Optimize efficiency and embed correct values by ensuring direct reports understand and support Nedbank's vision, values and strategy. 
• Manage performance of direct reports and hold them accountable for managing the performance of their reports by implementing performance agreements and ensuring a clear vision. 
• Maintain a high performing team by identifying a talent pool through conducting career conversations and using the talent grid principles and developing talent retention programmes. 
• Build depth of skills and knowledge in the team. 
• Ensure continuous improvement goals are achieved.

People Specification

Essential Qualification

• Bachelors Degree in Insurance or Risk Management or similar qualification (NQF 7)
• Higher Certificate or Advanced Certificate in Short Term Insurance 
• and/ or Underwriting qualification
• RE5 and/or RE 1

Essential Certifications

• FAIS Regulatory Examination 1 qualification
• Membership of the Insurance Institute of South Africa (AIISA)

Preferred Certifications

Membership of the Insurance Institute of SA (AIISA)

Minimum Experience Level

7 to 10 years in Short Term Underwriting (Personal Lines) with a minimum of 3 years in a Senior underwriter / management role. 

Technical / Professional Knowledge

• Business administration and management
• Change management
• Financial Accounting Principles
• Governance, Risk and Controls
• Organisational behaviour theory
• Relevant regulatory knowledge
• Strategic planning
• Management information and reporting principles, tools and mechanisms
• Quality management and lean methodologies
• Medical and Financial Knowledge

Behavioural Competencies

• Adaptability
• Aligning Performance for Success
• Coaching
• Decision Making
• Building partnerships
• Driving for Results
• Planning and Organizing