Hot Jobs at Export Credit Insurance Corporation of South Africa Soc Ltd (ECIC)

WHAT THE GRADUATE TRAINEE WILL BE DOING

Insurance reserves

• Collect, review, recon and maintain data for the purposes of calculating actuarial technical insurance reserves and IMU liability for financial statements and for regulatory returns.
• Assist with performing data analysis work in preparation for all calculations.
• Assist in preparing the quarterly actuarial valuation report.

Capital requirements

• Collect, review, recon and maintain data for the purposes of calculating capital requirements using the regulatory standard formula and ECIC’s economic capital formula to determine solvency position.
• Assist with performing data analysis work in preparation for all calculations.
• Assist in updating and recalibrate economic capital calculation.
• Assist in preparing quarterly and annual qualitative returns (QRTs), and actuarial components of the annual quantitative returns (QRR).
• Assist in preparing quarterly capital management report.

Pricing

• Assist in the development and maintenance of pricing models for insurance products.
• Assist in rate reviews and pricing updates based on experience analysis.
• Assist in performing data validation, cleansing, and preparation for pricing purposes.
• Assist in ensuring pricing models and outputs comply with internal governance and regulatory requirements.
• Collaborate with underwriting, finance, and risk teams to support business decisions

Own Risk and Solvency Assessment (ORSA)

• Assist with ORSA solvency projections and stress/scenario testing.

Asset and Liability matching (ALM)

• Assist with ALM projections.

Reporting & Compliance Support

• Assist with the maintenance and updating of risk registers.
• Assist in the tracking and reporting of Key Risk Indicators (KRIs).
• Contribute to the preparation and maintenance of Combined Risk Management Plan (CRMPs).
• Maintain and regularly update the unit’s findings tracker, ensuring timely follow-up and resolution of identified issues.
• Provide general reporting support to ensure accurate and timely submission of risk and compliance-related information.

WHAT WE EXPECT FROM YOU

• Bachelor’s degree in Actuarial Science, Mathematics, Mathematical Statistics, or a closely related quantitative discipline, and be actively pursuing actuarial board examinations;
• Must be a South African Citizen
• ECIC welcomes applications from persons with disabilities (Must provide a medical certificate confirming nature of the disability).

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Origination

• Assisting with market research including company profiling
• Establishing meetings and calls for the Unit
• Assessing potential partner or stakeholder companies against our criteria or to collaborate with, research likely Investors
• Manage a contacts database
• Attend client networking events and pursue other opportunities to develop new leads

Due diligence

• Competitor and market analysis
• Commercially assess businesses and research likely Buyers, Exporters and Investors
• Prepare reports and briefing papers as required
• Preliminary assessment of financial statements, models and other deal information
• Risk analysis and mitigation
• Sector market research and assist in production of client engagement plans

Live sales

• Producing high quality material both for the ECIC and potential Clients
• Pipeline generation and monitoring for the Unit
• Active involvement in Client discussions, contacting potential Investors and Exporters

WHAT WE EXPECT FROM THE GRADUATE

• This role will act as a good career platform for candidates wishing to secure a career within the finance sector. If you have a commercial mindset, together with a strong academic record, accomplished communication and strong analytical/ research skills with an ability to think commercially, we’d like to hear from you.
• University degree preferably in Accounting, Commerce, Law, Maths, Economics or Engineering (other disciplines can be considered)
• No previous work experience
• Must be a South African Citizen
• ECIC welcomes applications from persons with disabilities (Must provide a medical certificate confirming nature of the disability)

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KEY ACCOUNTABILITIES, MEASURES & INTERFACES

• Lead the design, pricing, and management of short-term trade insurance products.
• Ensure products remain relevant, competitive, and aligned with exporters’ needs.
• Establish and implement underwriting standards for short-term policies.
• Monitor exposure to country, sector, and buyer risks.
• Lead and manage the short-term insurance underwriters, including claims and customer service teams.
• Implement risk mitigation strategies, including reinsurance and diversification.
• Ensure efficient claims handling and timely resolution of disputes.
• Advise senior management and the board on trends in global trade and short-term credit risk.
• Represent the Corporation in various forums locally and internationally on trade credit insurance.
• Evaluate and analyze transactions sought for coverage and structure them into supportable transactions that meet the ECIC mandate and credit requirements.
• Develop and maintain relationships with exporters, lenders, short-term trade insurers, re-insurers and other institutions involved in the export business.
• Responsible for identifying new business opportunities for ECIC with a special focus on the short-term trade insurance business in collaboration with the business development team.
• Conduct the assessment of commercial feasibility, financial and credit worthiness of projects/transactions (in line with the underwriting criteria and policies of the Corporation).
• Conduct project desktop and field due diligence, where applicable, that includes reviewing legal, commercial and financial documents.
• Present and support projects to ECIC approval committee i.e., Project EXCO, FIIC Committee and/or Board for approval.
• Negotiation of transactions, structuring and review of commercial terms in the finance documents, security documents and other related documents to reach financial close.
• Interact with the Portfolio Management team, as may be required in relation to approved projects post cover.
• Carry out the corporate strategic plan, and the business goals of the Short Term Trade Insurance business unit.
• Work in collaboration with other business units, such as Risk Unit, Business Development Unit, Portfolio Management Unit, PEAR Unit, Actuarial Unit,
• Legal Services Unit etc. in line with the values of the Corporation that promote teamwork.
• Manage risks and/or compliance issues within the unit in accordance with ECIC compliance and risk management strategy.
• Manage re-insurance transactions for the short-term trade business (inward and outward re-insurance).
• In collaboration with the ICT unit, develop and maintain short term trade underwriting system(s).
• Keep abreast of evolving insurance and other relevant regulations.
• Increased good quality underwriting activities for the Corporation and achieve relevant targets.
• Increased repetitive business and value and number of transactions/projects approved.
• Management of client relationships and key stakeholders.

Key Interfaces

• CEO and COO.
• Other business units particularly Risk Unit, Underwriting Unit, Business Development Unit, Portfolio Management Unit, PEAR Unit, Actuarial Unit, Legal Services Unit, etc.
• ECIC Executives and Managers.
• Lenders and Investors.
• Exporters.
• Senior Government Officials.
• Other Export credit agencies.
• Other short-term insurers and re-insurers

QUALIFICATIONS AND EXPERIENCE

• A minimum of a Bachelor’s degree with specialisation in Economics, Accountancy, Finance, Banking, Science, Law or Engineering.
• Minimum 10–12 years’ experience in trade credit insurance, banking, or export finance.
• Sound knowledge of international business, contractual, corporate finance practices and accounting.

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KEY ACCOUNTABILITIES, MEASURES & INTERFACES

• Analyse and Interpret financial statements;
• Process and sensitize financial models;
• Engage with credit report writers to obtain credit reports;
• Conduct desktop and field due diligence, where applicable, that includes reviewing contracts, financial documents, amongst others;
• Engage the deal team to process of coordinating the visits, required information relating to the transaction, negotiate the structure of the transactions, assessing of commercial terms in the financial documents, application and other related documents to reach financial close;
• Evaluate information to determine level of risks in relation to the cover being assessed to support the transactions that meet the ECIC mandate and credit requirements;
• Prepare and collate the high quality submissions of transactions to be presented to ECIC approval committees i.e., Project EXCO, FIIC Committee and/or Board;
• Present and support transactions to Project EXCO;
• Develop and maintain relationships withing the organisation, exporters, lenders, short-term trade insurers and reinsurers, other ECA’s and other institutions involved in the export business;
• Assist in identifying new business opportunities for ECIC in collaboration with the business development team;
• Conduct the assessment of technical, commercial feasibility, financial and credit worthiness of the transactions with some level of understanding of environmental and social aspects, (including underwriting criteria, governance issues such as anti-bribery, sanctionable entities, etc., in line with the policies of the corporation);
• Assess the degree and types of commercial and non-commercial risks likely to be involved in an investment and determine whether these risks should be covered and under what terms and conditions.
• Keep abreast of approved transactions as well as the transactions progress post cover.
• Assist in carrying out the corporate strategic plan, and the business goals of the STI Underwriting unit as measures against the performance evaluation process
• Work in collaboration with other business units, such as Risk, Business Development Unit, Portfolio Unit, PEAR Unit, Actuarial Unit, Legal Services Unit, etc., and coordinate the team in the assessment of transactions and ensure their input is incorporated when compiling the transaction submission.
• Provide support for negotiation of transactions, structuring and review of commercial terms in the finance documents, security documents and other related documents;
• Manage risks and/or compliance issues within the unit in accordance with ECIC compliance and risk management strategy;
  Assist in managing the Short-term Business Unit Portfolio;
• Keep abreast of evolving short-term trade insurance and other relevant regulations.

Key Measures

• Increased good quality underwriting activities for the corporation and achieve relevant targets.
• Increased repetitive business and value and number of transactions approved
• Management of client relationships and key stakeholders.

Key Interfaces

• Senior Underwriter – STI
• Head of the STI Unit
• CEO and COO
• Other business units particularly Risk Unit, Underwriting Unit, Business Development Unit, Portfolio Management Unit, PEAR Unit, Actuarial Unit, Legal Services Unit, etc.
• ECIC Executives and Managers.
• Lenders and Investors.
• Exporters.
• Other Export credit agencies

QUALIFICATIONS & EXPERIENCE

• A Bachelor’s degree with specialisation in Accounting, Financial Accounting, Finance, Credit Risk Management, Business Administration or relevant fields;
• Minimum 5 years’ relevant experience in short-term trade insurance and/or reinsurance, commercial and /or political risk underwriting or risk management.
• Basic knowledge of international business, contractual, corporate and financial practices and accounting.
• Financial Advisory and Intermediary Services (FAIS qualification) will be an added advantage"

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KEY ACCOUNTABILITIES, MEASURES & INTERFACES

The incumbent will among other things be responsible for the following:

• Conduct market research for appropriate business opportunities that would match ECIC products and eligibility requirements.
• Develop strong pipeline of good quality projects/transactions through proactive origination/business development.
• Comprehensively map industry or sector opportunities in order to generate a list of prospects.
• Develop and maintain strong relationships with clients, global, regional and local private businesses, banking and multilateral partners and government officials to further develop specific underwriting opportunities related to export of capital goods and services.

• Organize various business initiatives to increase the ECIC base in various market segments and geographies.
• Review and analyze deal structure to determine level of the ECIC’s appetite, industry and project risks in relation to the risks being offered for insurance coverage.
• Analyze the structure of the transactions originated regarding the product and/or services to be exported and/or performed and the contract terms, in relation to the coverage sought prior to handover to the underwriting team.
• Preliminary assessment of the complex financial transaction and advise clients on the types of commercial and or non-commercial risks likely to be involved in the transaction and whether the potential risks can be covered and the relevant terms and conditions.
• Work closely with the underwriting team and other business units to find innovative solutions to address client transactional needs and support.
• Coordinate and lead cross-functional projects teams within ECIC from inception of the deal, execution, to close whilst managing internal and external client relationships throughout the deal process.
• Raise the profile of the ECIC, participating in television interviews, acting as spokesperson at conferences and other networking events.
  Manage client relationships and advocate for clients internally.
• Contribute to internal and external knowledge sharing platforms, providing specialist inputs in areas of expertise and be a champion in fostering a culture of client centricity.
• Prepare high- quality presentations and papers for ECIC’s management and Board of Directors, including regional strategies and Deal pipelines.
  Carry out any other roles assigned by Head of Business Development.

Key Measures

• Increased insurance pipeline and deal flow for ECIC.
• Increased repetitive business from the existing clients.
• Increase the overall client base and generate new clients.
• Assist ECIC expand and diversify its portfolio in other geographies outside of the SADC region.

QUALIFICATIONS & EXPERIENCE

• A degree with specialisation in commercial or technical discipline including but not limited to Economics, Accountancy, Finance, Banking, Science, Law or Engineering.
• A minimum of 5 years’ transactional experience in origination sales planning, structuring deals, project financing, corporate finance, political risk underwriting, risk management or with a proven track record in deal origination in any field
• Sound knowledge of international business, contractual and corporate financial practices and accounting.