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Bryte Insurance Company Limited is the premier, proactive commercial risk specialist in Southern Africa. Applying our unparalleled sector insights, proven expertise and foresight, we partner with customers and brokers to protect their businesses and improve their risk profile across the continent.
Our short-term insurance risk management solutions are devel...
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Description
Summary
- Developing, implementing, and monitoring of compliance programs and various compliance solutions within the Compliance Risk Universe as part of the second line of defence.Providing direct compliance and regulatory advice to Bryte’s business.Counselling and advising on matters of compliance risk affecting the overall reputation of the organisation.Assuming subject matter expert roles in one or more areas and participates in cross-national working groups to define and interpret compliance topics. Identifies compliance opportunities and potential solutions.
Requirements
Key Tasks & Accountabilities
- Assumes subject matter expert role and compliance responsibility in one or more areas of expertise for:
- Providing advice and guidance to management and employees.
- Establishing, enhancing, and implementing relevant compliance policies and procedures and providing best practice solutions and
- Analysing external requirement and trends
- Assumes responsibility for monitoring and review activities in areas of expertise:
- Enhancing and performing monitoring and review activities
- Identifying possible areas of non-Compliance
- Advising on remedial actions on areas of non-Compliance and
- Assistance with building, integrating, and embedding compliance controls within business procedures.
- Manages communication and training within areas of expertise by
- Assessing needs, developing training, co-ordinating delivery and tracking of completion.
- Identifies and manages compliance risks and drives the implementation of the Operational Compliance Plan and overall Strategy of the function.
- Performs project work relating to area(s) of expertise within the Compliance function and /or in cross functional projects.
- Manages the implementation of corrective action plans for resolution of problematic compliance matters and provides general guidance on future compliance.
- Provides appropriate reporting within the Compliance function and to business management.
Qualifications & Experience
- University degree with any of a legal/ compliance/ risk/ business related background.
- Post graduate compliance management course.
- Qualifications relevant to statutory requirements for registered compliance officers.
- Significant ‘subject matter related’ experience in Compliance/Governance preferably in the Financial Services industry.
- 5 or more years of related experience in the financial service industry.
- 4 or more years compliance subject related experience.
- Expertise in one or more Compliance subject areas.
- Experience in establishing frameworks for implementation of compliance requirements, delivering training and monitoring reviews.
- Good experience with trends on ethics and Compliance
- Ability to identify current risks in area of expertise and to develop and implement mitigating activities.
- Working understanding of Insurance & regulatory environment and an excellent knowledge in subject matter areas.
- Excellent written, verbal and presentation skills and ability to lead working groups.
Closing Date: 01 April 2024
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Requirements
Key Tasks & Accountabilities
- Prioritise daily activities to enable processing and maintenance of all claims.
- Within Mandate
- Check the accuracy of registered claims cover details and add claimant details timeously.
- Confirm estimate is accurate, deducting excess to work out estimate of claim through investigating policy cover.
- Complete fraud list and Identify claims that requires further fraud verification.
- Ensure computer generated letter is forwarded to relevant broker.
- Liaise with stakeholders to gather and ensure accuracy of information.
- If required, inform other relevant departments within claims (e.g. recoveries, salvages, claims verification units etc)
- Capture diary entry immediately after registration process, describing progress and action of claim.
- Deal with and ensure resolution of queries on an on-going basis.
- Obtain necessary documents/assessors report and make amendments to estimates ensuring authorization within policy cover.
- Continually update and maintain diary system.
- Draw payment on relevant system, ensuring accuracy of banking details, invoice number, VAT numbers, class allocation, client release, etc.
- Ensure letters are forwarded to brokers demonstrating breakdown of payments.
- Ensure accurate codes are allocated to payment of claims to minimize leakage.
- Finalize payments on Workflow (Within Mandates)
- Review all open files on a quarterly basis by assessing check reports and claims not processed report (Estimate Review)
- If encounter system problems, log calls timeously with relevant department
Effective customer focus and service
- Liaise with internal stakeholders to facilitate problem resolution and efficiency of work activities.
- Communicate with stakeholders on a daily basis to inform of progress of claims and claim policy and procedure.
- Deal with and resolve any queries relevant to area; if unable to resolve, escalate to manager for resolution
- Represent the organization through maintaining high levels of professionalism, service excellence and customer excellence.
- Adhere to internal policies, processes, and procedures.
Effective adherence to company claims policy, standards, and SLA.
- Ensure adherence to all company policies at all times.
- Ensure adherence to negotiated flexi hours.
- Maintain dress code, behaviour, and absenteeism.
Relationships
Internal Relationship
- All Claims Departments
- Sales
- Underwriting.
External Relationship
- Brokers (Telephonically and Directly)
- Clients
- All Claims Suppliers
- Service Providers
Experience & Qualifications
- Minimum Degree or NQF Level 4
- Minimum 5 years claims handling/ adjustment experience.
- Proven experience in handling of large loss claims, especially cases valued over R1,000,000.00 in Property/ Business Interruption claims.
- Relevant experience of managing service providers, negotiation, and face to face meetings with stake holders.
- Sound knowledge, experience and understanding of short-term insurance.
- General Claims Handling skills
- Understanding of Bryte guiding principles and philosophy and framework
- Applications of claims technical guidelines
- Basic insight into company strategies and business plans
- Clear understanding of Financial Services compliance framework
- Sound knowledge of Bryte organizational structure
- In-depth knowledge and understanding of relevant company policies, processes, and procedures.
- Sound internal network.
- Knowledge of relevant workflow systems
Other Requirements
- Accuracy
- Attention to detail.
- Customer service orientation (including assertiveness)
- Oral and written communication
- Planning and organizing
- Problem solving
- Self-awareness
- Teamwork
- Work standards.
- Guiding Principals
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Requirements
Key Tasks & Accountabilities
- Achieve targeted underwriting profit by assistance and performance of underwriting skills by underwriting medium to high complexity risk.
- Growth and retention of business
- Contribute to proposition development.
- Provide qualitative service levels to internal and external stake holders.
- Teamwork
Qualifications & Experience
- Grade 12
- Minimum of 3 years technical expertise in underwriting, preferably in commercial underwriting
- FAIS compliant, 60 credits
- Must have RE
Knowledge
- Sound understanding and knowledge of South African Insurance/re-insurance market.
- Sound knowledge of how to optimise underwriting performance at a policy and portfolio level.
- Sound knowledge of statutory and legislative requirements
- Expert technical knowledge and understanding of underwriting principles.
- Commercial, Financial, and business acumen
Skills
- Good relationship building skills.
- Excellent verbal and written skills
- Strong People management skills
- Strong Numeracy skills
- Strong underwriting skills
- Strong analytical skills
- Strong leadership skills
- Sound interpersonal skills.
- Computer literacy: sound Excel skills preferable
- Leadership
- Problem solving
Attributes
- Problem solving
- Technical expertise
- Analysis
- Concern for Excellence
- Customer Service Orientation
- Delegation
- Developing Organisational Talent
- Diversity Management
- Engagement: Impact/presence/rapport
Closing Date: 01 April 2024
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Requirements
Key Tasks & Accountabilities
Effective control and monitoring of leakage
- Ensure business standards and agreed SLAs of all claim’s related matters are adhered to.
- Review open and closed files and establish procedures and controls to minimize leakage.
- Assess audit report of leakage and attend to identified leakage.
- Complete fraud list and Identify claims that requires further fraud verification.
- Review re-open claims and ensure recovery, journals and notes are made on internal systems.
- Locate leakage and follow up progress monthly to Claims Manager and QA
- Review company leakage reports to identify variances and recommended actions.
Effective quality control
- Conduct audits per technician per month using leakage form/checklist.
- Ensure all information and standards are adhered to with regards to financial transactions
- Authorize and sign payments together with checklists.
- Clear allocation queues on Workflow as per roster to manage work distribution.
- Complete claims rejections within two days of receiving the repudiation task and within SLA and forward to Broker Managers.
- Review pending payments and ensure none outstanding over 1 day.
- Ensure Technicians are appointing the correct assessors and on a rotation basis; report irregularities to Claims Manager timeously.
- Ensure timeous changing of file owners.
Effective reporting and analysis
- Review all QA and Operational reports as and when required and provide feedback and/or action plan to address issues.
Effective customer focus and service
- Provide exceptional customer in line with TCF.
- Liaise with internal stakeholders to facilitate problem resolution and efficiency of work activities.
- Communicate with stakeholders on a daily basis to inform of progress of claims and claim policy and procedure.
- Deal with and resolve any queries relevant to area; if unable to resolve, escalate to manager for resolution
- Represent the organization through maintaining high levels of professionalism, service excellence and customer excellence.
- Adhere to internal policies, processes, and procedures.
Effective people management and team leadership
- Lead by example in living the values of Bryte.
- Monitor staff workload on a daily basis.
- Explain and train new claim instructions, bulletins and training materials.
- Be an active part of corrective action to ensure those correcting fully understand errors and consequences.
- Ensure registers are completed daily.
- Monitor staff with regards to time keeping, dress code, behaviours and absenteeism and take corrective action when required.
- Identify and address variances/breaches of polices, standards, performance, etc.
- Create an environment that fosters teamwork and co-operation amongst team members.
- Communicate effectively, building and maintaining relationships.
- Ensure consistent compliance to company policies and procedures, corporate governance, and relevant legislation.
Performance Management
- Conduct monthly review meetings for all technicians in order to assess performance and provide constructive feedback and establish action plans as applicable to feed to the claims manager.
- Identify poor performance and put correctional measure in line with performance management policy.
Claims Cost Management
- Continuously monitor and manage the quality of the claims handled and completed through conducting sample auditing on an on-going basis.
- Recommend improvements to reduce average cost per claim.
- Review the service of different vendors repairers in conjunction with agreed vendor contracts with specific regard to cost containment.
- Ensure that claims handlers are compliant and adhering to business requirements and standards, check guidelines as stipulated by service level contracts and agreements with relevant stakeholders, internally and externally.
- Ensure compliance with company policies, and ensure appropriate action taken where necessary and required.
- Ensure that all claims’ handlers provide relevant and correct information to clients/repairers to ensure that work is completed according to set standards and agreements, that ensures best interest of the client and the company in relation to claims management.
- To direct and control spend
People Management Accountabilities
- Claims Team leader will be responsible for the operational management for the technicians reporting to the Claims Manager.
Qualification & Experience
- Matric (Preferable with Degree)
- 5 years claims handling/ adjustment experience.
- 1-2 years people management experience
Relationship
Internal Relationship
- All Claims Departments
- Sales
- Underwriting
External Relationship
- Brokers
- Clients
- Claims
- Suppliers
- Service Providers
Closing date: 29 March 2024
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Requirements
Our opportunity
- The role holder is responsible for management of employees and implementation of processes and procedures relating to all Underwriting functions. The incumbent maintains profitability through corrective actions, risk mitigation, management of multi-claimants of loss-making portfolios as well as effective portfolio management.
Key Tasks & Accountabilities
- This role reports into the CEO of Bryte Specialist Motor (BSM) and is responsible for maintaining the profitability of BSM through application of prudent Underwriting principles.
- Acts independently and works under minimal supervision to measure exposure and minimise risk.
- Responsible for providing Underwriting Guidelines, wording and Underwriting rules whilst demonstrating specialised knowledge and expertise in products and industry.
- Acts as an expert in Technical Underwriting and provides Underwriting support to the regions.
- Monitors and manages portfolio performance.
- Ensures consistent application of the Underwriting Rating Guidelines.
- Participates in Motor Committee at Industry level.
- Management, coaching and development of Underwriting employees to assist with establishing and maintaining a high-performance culture.
- Responsible for the due diligence and audit processes with regards to the onboarding of new propositions.
- Builds relationships with internal and external stakeholders to successfully negotiate with customers on their insurance needs while at the same time upholding the underwriting discipline and rigor.
- Ensures that the Underwriting Guidelines are adhered to when decisions are made at the Claims Rejection Forum.
- Determines Risk Classification and triggers to manage escalations within the Bryte risk appetite.
- Agrees excess of loss requirements with Reinsurance.
- Internal engagement with regards to Sasria.
- Leads the development and implementation of business solutions through providing Underwriting tools and processes.
Stakeholder Management
- External Partners; Agents, Administrators and UMAs
- SAICB, SAIA and other Insurance Associations
- EXCO
Functional Business Heads
- Develop and maintain external and internal networks with key individuals and associations in the Insurance industry; keep abreast of industry developments and actively monitor insurance trends and regulation, so as to anticipate the business impact of regulatory changes.
Leadership Accountabilities
- Model behaviours that demonstrate commitment to Bryte’s guiding principles.
- Lead a high-performing team and complete performance management cycle for direct reports.
- Create people management plan to ensure human capability is in place as part of business planning process.
- Take action to manage own personal development and encourage others to do the same.
Qualifications & Experience
- Higher Certificate in Insurance, Fellowship advantageous
- RE 5 (RE 1 will be advantageous)
- 8 or more years’ experience in Motor Underwriting
- 3 – 4 years management experience
- Technical knowledge of the Motor Product as well as the relevant Regulatory and Compliance requirements
Capabilities
- Effective Communication
- Technical Insurance and Regulatory Environment knowledge
- Knowledge sharing
- Negotiating
- Detail-orientation and Analysis
- Problem Solving; planning and organising
- High Level Influencer
- Adaptability
- Relationships typically involve persuading or countering opposition
Closing date: 29 March 2024
Method of Application
Use the link(s) below to apply on company website.
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