Insurance/Legal Vacancies at Hollard Insurance

Required Knowledge and Experience

• Minimum of 5 years valuations experience in the life insurance industry
• Strong technical knowledge including a good Understanding of the different life insurance valuation methodologies (e.g. published, statutory, etc.) and reporting requirements applicable to life insurance companies
• Understanding of life insurance financial reporting, systems and requirements
• Strong analytical skills
• Sound verbal and written communication
• ALGO Financial modelling (or similar e.g Prophet) will be an advantage
• Advanced Excel (including VBA)
• SQL Experience
• Microsoft Access experience
• Good leadership skills
• Ability to take ownership of their tasks
• Ability to work independently and accurately
• Ability to understand the urgency or importance of various tasks, with the ability to prioritise these
• Ability to work well within a team environment and guide junior members of the team
• Perform policyholder liability calculations on published or IFRS liabilities on both a discounted and non-discounted cash flow methods
• Calculation and analysis of the value of in-force business
• Calculation and analysis of value of new business calculations
• Assist in the production of valuation reports
• Assist in producing annual Budget and Forecast projections
• Provide insights to the business units based on the valuation results and ongoing monitoring of experience
• Consolidate valuation results provided by the team
• Automation and streamlining of reporting processes
• Compiling of movement reconciliations
• Performing lapse, mortality and expense investigations
• Review of the above tasks performed by other team members.
• Analysis of Surplus / Profit
• Manage adhoc tasks and duties to enable and improve own deliverables and tasks as well as to manage stakeholder expectations
• Develop and co-ordinate implementation of standardised valuation and reporting processes.
• Ensure that all actuarial processes are performed as efficiently as possible and arecompliant with the current risk control and actuarial governance procedures.

Educational Requirements

• Actuarial tertiary qualification
• Completion of A100 and A200 exams with the aim to complete all exams within a
• defined period.

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Key Responsibilities

Cash and Liquidity Management

• Monthly sweeping/transfer of premium bank accounts
• Daily funding of claims bank accounts
• Daily funding of operational bank accounts
• Ensuring every bank account has a positive balance and download of balances daily.
• Managing and monitoring the company's day to day liquidity
• Managing and ensuring that maturities and settlements are received timeously.

Maximising returns on cash investments :

•    Dealing on Fixed Deposits, Call Deposits, Negotiable Certificate of Deposits, Repurchase Agreements
•   Execution of Money Market fund decisions           

Administration of the Treasury Front Office function

• Treasury System
• Updating daily deals
• Reconciling and updating monthly interest on investment accounts
• Updating interest rates
• Opening and closing of new treasury accounts according to the investment instruments purchased on Treasury system.
• Training new users on Treasury system.
• Key contact with system service provider to assist in resolving any technical issues.
• Completion of Collective Investment Scheme instructions
• Creating payments and transfers on Banking Online systems: Dividends, Tax, Investments, Loans, Salaries

Administration and Accounting of Hollard Treasury Partners

• Update daily Treasury Partner call movements on the Treasury system.
• Monitor and maintain interest rates allocated to Treasury Partners on Treasury System
• Monthly Reconciliation and distribution of Treasury Partner statements to Business Units.
• Preparation of monthly Treasury Partner interest journals to be posted in the Financial System (Great Plains) and reconcile the clearing accounts.
• Follow up with Business Units regarding entries not posted on financial system.

Credit Cards

• Issuing cards to authorised employees of Hollard for business use and cancelling of cards for employees that have left Hollard.
• Maintenance of credit cards limits, increase or decrease according to requests from management.
• Maintenance spreadsheet of active credit card users and reconcile with bank.
• Being a liaison for Hollard with the Credit card division at the bank.
• Contact bank to investigate fraudulent activities on company credit cards. Cancel and reissue cards.

Reporting

Work alongside Treasury Manager in

• Preparing weekly Treasury cash position reports for investment or disinvestment decisions
• Preparing quarterly reports of list of bank accounts to submit to the bank for Set-off agreement purposes.
• Preparing quarterly list of Broker accounts swept & funded by Treasury to be shared with Financial Business Partners
• Any other reporting that would be beneficial for analysis purposes and/or creating efficiencies within the Treasury Department and Hollard Group
• Maintaining a list of current accounts and the purpose thereof
• Reporting to the Bank relationship Officer of dormant accounts and consider closing after discussion with Business Unit.
• Reporting the new bank accounts that could be swept or funded.
• Analysis of bank charges incurred in each bank account and submit report monthly to management.

Required Knowledge and Experience

Dealing in foreign exchange

Foreign payments

• Capturing and submitting foreign exchange payment applications (on NedTreasury system or manually) to the bank for payment
• Ensure documents are in order and invoiced and paid from correct entity.
• Confirmations to be saved and sent to Business Unit.
• Resolve queries for foreign payments.
• Confirming incoming and outgoing of overseas funds

Foreign payments (Hollard Group)

• Booking of Forward Exchange Contracts
• Managing, update and renew foreign exchange approvals.
• Drafting and submitting of foreign exchange approval applications to Nedbank and RMB Exchange Control
• Save reminders for renewing of SARB re-applications.
• Compare foreign exchange rates between banks to negotiate the best rate.
• Working alongside the Treasury Manager in creating efficiencies and looking at improvements in managing foreign transactions and the implementation of system changes.
• Update foreign registers and distribute to cashbook and Vat specialists.
• Emotional maturity
• Ability to perform in pressurized and high paced environment.
• Excellent interpersonal and communications skills
• Good time-management and prioritization skills
• Analytical Skills
• Computer skills, specifically MS Office programs

Educational Requirements

• Minimum Qualification: Matric
• BCom or Business Management Diploma, Treasury related qualification advantageous
• Years of experience: 3-5yrs experience, and Treasury and Financial systems knowledge

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Key Responsibilities:

• Adherence to Standard Operating Processes, practices, and procedures.
• Adherence to Service level Agreements with internal and external partners 
• Process all broker and intermediary recovery claims to secure a successful recovery 
• ensuring that efficiency, productivity, and superior customer service are shown
• Ensure Litigation is the appropriate action.
• Conduct viability assessments 
• Cost Benefit Analysis should be performed throughout the lifecycle of the claim
• Ensure estimates are raised accurately and timeously 
• Appointment of attorneys, contingency agents, loss adjustors, investigators 
• Providing all supporting documentation to attorneys and contingency agents
• Regular tracking of claims status on all systems
• To effectively manage turnaround times as per standard operating process and service 
• level agreements
• Ensure integrity on data and financials.
• Drafting of summons and particulars of claims
• Monthly Tracking and auditing of claims
• Maintain service, quality, and desired outputs
• Engage regularly in team or group problem-solving weekly meetings 
• Share knowledge on, and participate in the creation of new standards, control systems 
• and procedures to maintain service delivery. 
• Track payments and receipting
• Interpretation and application of policy wording
• Confirming cover as per the policy wording
• Provide customer services in line with quality and performance standards
• Build positive customer relations and solve or escalate customer queries and complaints
• Answer telephone and email queries 
• Collaborate and work closely together with others thereby leveraging constructive team 
• dynamics and innovation
• Proactively suggest improvements in customer service and relations where applicable.
• Identify and recommend areas / ways to improve processes
• Develop work routines in line with operational plans / schedules to achieve service 
• delivery goals 
• Align own behaviour with the organisation culture and values
• Achieve own performance objectives
• Actively participate in own professional development and career path and be aware of 
• capacity building initiatives (i.e., development programmes, training, mentorship, 
• coaching etc.)

Required Knowledge and Experience

• 2 years admitted attorney experience
• 2 years Short Term experience 
• 3 years Short Term Insurance Motor and Non Motor Recovery and Liability Claims experience
• 2 years Public lability experience
• Excel – Intermediate
• Word – Intermediate
• Advanced Policy Interpretation ability
• Magistrates Court Act No 32 of 1944
• Magistrate Court Rules
• Supreme Court Act 59 of 1959
• Supreme Court Rules
• Superior Courts Act 2013
• Attorneys Act No 32 of 1944
• Excellent Verbal and Numerical Skills

Educational Requirements

• Matric
• Legal Qualification 
• Admitted attorney
• Appropriate Insurance Qualification

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Job Advert Summary

The primary purposes of this role are to:

• Assist with the design, development, pricing and maintenance of the Hollard Life Solutions (HLS) insurance products (life, health and simple short-term products).
• Monitor and actively manage the ongoing product profitability within Hollard’s risk appetite.
• Initiate and drive new product innovations and efficiencies.
• Support the actuarial administration and management of the in-force suite of products.
• Conduct and assist with experience investigations, including the required data-related work
• Collaborate with other team members in a professional manner in order to deliver on Hollard’s shared vision. 

Required Knowledge and Experience

• At least 5 years of experience in financial services with at least 2 years exposure to life insurance.
• Experience in short-term insurance and/or health insurance would be beneficial.
• Experience with cell captives would be an advantage.
• High attention to detail and accuracy
• Analytical skills and technically strong, balanced with strategic vision and big-picture thinking ability
• Ability to work on multiple tasks simultaneously
• Confident communication and engagement with business stakeholders
• Sound relationship building skills
• Passion for products, pricing and people
• Broad Life Insurance knowledge
• Broad understanding of insurance distribution methods and administration systems
• Strong commercial acumen and insight into insurance business
• Ability to plan, prioritise and work towards deadlines
• Ability to communicate clearly to colleagues and management, both verbally and in writing with the ability to tailor complex communication depending on the audience
• Ability / desire to challenge the status quo
• Self-starter / initiator
• Critical thinking and sound questioning of concepts or ideas
• Participate in defining and implementing the product strategy for our Partner Business to help contribute to the overall Hollard Life Solutions strategy.
• Technical pricing (assumption setting, premium calculation, pricing review and financial business projections) of new and existing products and benefits.
• Contribute towards the creation of our customer value propositions in alignment with product concepts and overall product strategy.
• Conceptualise new products and product enhancements based on input from distribution teams, clients and the marketing actuarial function.
• Redevelop products and deploy updates and enhancements based on feedback from stakeholders, ongoing assessment of the effectiveness of product delivery and the performance of the product, as measured by the agreed key performance indicators.
• Identify potential risks associated with benefits and customer segments as well as opportunities to mitigate or avoid.
• Engage with and build & manage relationships with key business stakeholders.
• Define and/or review benefit and technical specifications for new product developments and enhancements to existing products.
• Develop detailed specifications defining product and process designs.
• Develop and draft policy clauses and policy wording in conjunction with Legal function.
• Design and draft customer communications per touch point as well as supporting rules, with assistance from Customer Communications Specialist.
• Provide input to operational and administrative functions with the development of product processes and rules and integrate their feedback and suggestions into the product development process.
• Assist Project Management and IT functions with the systems implementation of all product elements and processes and the testing thereof.
• Provide input to Sales and Marketing functions with the development of sales scripts and marketing material where necessary.
• Ensure alignment of new and existing products to legislation, industry guidelines or codes.
• Monitor ongoing performance of products and assess whether product development objectives are being met.
• Ad-hoc projects and investigations in support of business enablement.
• Monitor the competitive positioning of products and benefits relative to the market by features, simplicity, price and ease of business.
• Provide product support to other internal departments such Operations and Distribution.
• Provide technical benefit support on public relations articles.
• Manage policy queries and provide input into escalated claims.

Educational Requirements

• 3-year degree in actuarial science.
• Minimum of Associate Membership of the Actuarial Society of South Africa (AMASSA) or similar qualification of another professional actuarial society.

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Required Knowledge and Experience

• More than 10 years experience with budget management and financial operations.
• Bring innovate solutions and ideas to Finance Exco and BU teams
• Consulting experience with a focus on operations management.
• Superior Reporting and communication skills.
• Proven success in a large project coordination role.
• Nimble business mind with a focus on developing creative solutions.
• Strong project reporting skills, with a deliberate emphasis on collaborating across business.
• Strong Relationship and engaging with people skills
• At least 10 years Senior Management Experience in dealing with Change, innovation and projects
• Ability to engage with Senior Leaders and proven track record of engagemen
• Building and creating Finance cadence and Ways of working

Change Management Process:

• Creating and implementing a structured change management process.
• Ensuring that employees are adequately briefed  about forthcoming changes.
• Building relationships with all stakeholders to ensure success of the change process.
• Providing enablers to  employees to adapt to and effect the changes successfully.
• Assessing risks associated with changes.
• Developing mitigation strategies to minimise disruptions during transitions.

Stakeholder Engagement:

• Engaging with key stakeholders (such as executives, team leads Internal HR and employees) to gain their support for the changes.
• Establishing clear expectations and maintaining transparency throughout the process.
• Creating Group Finance and Actuarial Agendas to meet the objectives for the period

Reporting and Communication Management:

• Monitoring the flow of the multi-facet communications to and from the Office of Group CFO.
• Ensuring timely, effective and efficient communication within the finance and IT teamand across the organisation.
• Key Role player and interface between Finance, Business Units and Actuarial.
• Co-ordinate performance reporting and drive monthly reporting calendar for all stakeholders in Finance.
• Create and be accountable for the consistent highquality of Reporting to Exco, Board, Audit Committee, Regulator and various other stakeholders.

Project Coordination and Innovation:

• Aiding in and ultimately ensuring the timely completion of innovation projects related to finance, ensuring efficient service delivery.
• Assisting in strategic planning processes across the finance department.
• Being the central lead for the Finance and Actuarial Transformation in the Group
• Leading Project Steerco and provide regular feedback and progress reporting
• Managing the relationship with the Group Auditors and other Stakeholders

Strategic Impact:

• Providing recommendations and consultation to business leaders to improve efficiency, teamwork and collaboration.
• Assisting in determining and prioritising business strategies based on the Centre and Group schedule.

Performance Measurement:

• Identifingy key performance Drivers for the Business and develop performance reporting and dashboards for stakeholders.
• Collaborating with other departments to ensure alignment with overall Group Reporting goals.
• Key enabler of non financial reporting goals between Business units

Communication and Leadership:

• Presenting recommendations to Leaders and stakeholders.
• Leading cross-functional teams in implementing financial strategies.
• Communicating concepts and requirements clearly.

Adaptability and Creativity:

• Responding to changing market conditions and unexpected events.
• Developing innovative solutions to financial challenges.

Educational Requirements

• Business-related degree

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Job Responsibility

STRATEGIC:

• Provide guidance in a manner that ensures that business understand the impact of their actions on the green control environment goal
• Support 1st line Compliance, Business Assurance and Fraud Risk Management teams
• For legal risks identified, ensure that Regulatory risks, Operations risks and Fraud risks are engaged to ensure associated risks are mitigated
• Will be responsible for effectively managing regulatory and legal risks by identifying, pro-actively and re-actively, business needs for Legal advice and support services, including effectively managing the drafting of legal documents, contracts and agreements.
• The incumbent will be required to creatively and innovatively support Hollard Life with achieving its business objectives within the Hollard Group regulatory risk framework and risk appetite. Individuals with a “How can we make it work?” attitude towards Legal and Regulatory risk will excel in this role and within the Hollard Life Business Unit.
• Playing an integral role in regulatory change initiatives and keeping Hollard Life informed of developments in the industry, including changes to legislation, that could impact business

 RISK MANAGEMENT & CI

• Manage the delivery of legal advisory and support services through internal legal and external legal firms.
• Provide appropriate, proactive legal advice through the interpretation of regulation, acts and other appropriate standards and policies.
• Identify, evaluate and advise on current or future legal risks, given changes in the regulatory landscape.
• Continues scanning of the Hollard Life BU strategy to pro-actively identify changes in legal support / expertise required and enabling it timeously.
• Provide internal stakeholders with the appropriate tools, knowledge and skills to understand key regulatory operational processes / standard operating procedures which they need to adhere to in order to manage legal risks.
• Draft and review contracts to ensure that the contracts entered into by Hollard are effectively drafted, reviewed, interpreted, and vetted.
• Review and sign off product policy documents as requested by the business complying with Hollard Group product policy standards.
• Manage litigation process and budget, where required, working with Group Legal and external litigation firms.
• Conduct strategic reporting on business relevant issues such as litigation management, with the purpose of identifying trends in order to mitigate and prevent future risks.
• Develop, manage and deliver on Service Level Agreements with internal business partners and external providers.
• Research and analyse the implications of case law, legislation and regulatory matters that affect HAD.
• Provide Hollard Life BU with regular information regarding new legal developments (which include new Bills, Acts, Regulations, Directives and Case Law) and clear actions plans to manage the implication or risk of this on the HAD business.
• Interpret all new legislation and regulation and prepare high level impact analyses.
• Conduct Legal Due Diligence Reviews on new partners to be onboarded.
• Produce appropriate management and board level legislative reports.

PEOPLE & TALENT MANAGEMENT

• Manage the performance and efficiency of the BU Legal team and individuals, using KPI’s, standards, process compliance, service level agreements, policy and procedures as tools and guides.
• Ensure that Legal resources across Hollard Life BU are sufficient at all times
• Ensure the Legal Team members perform optimally, are up-skilled and developed; appropriate talent management, reward, retention and succession plans are in place and implemented

CUSTOMER SERVICE & TCF

• Customer service: Establish and maintain a high level of service to customers (internal and external) according to the service standards as set by the company.
• TCF: Ensure customers are treated fairly and that TCF management and relevant training is done in conjunction with the Academy

Required Knowledge and Experience

• 5 – 8 years management experience in Legal in the Insurance or Financial Regulatory Industry, with at least Life and Short-term experience.
• Ligation management.
• Financial services compliance support and/or advisory

Knowledge

• Insurance Legislation and Regulations including, Short-term insurance Act, Long-term insurance Act, , FAIS
• General knowledge of the financial services and insurance industry
• ASISA & SAIA Standards
• General legislation applicable to greater the business environment
• Contract Drafting
• Interpretation of legislation
• Litigation management
• Report writing
• General business acumen

Skills & Qualities

• Ability to lead and motivate a team
• Intellectual and analytical skills of a high order
• Ability to use initiative and work with minimum supervision but ensuring, at the same time, that the line reports are kept fully informed at all times
• Ability to consider issues from a range of angles and propose creative solutions that assist the business in achieving its goals in a safe, compliant and controlled manner.
• Ability to communicate effectively, orally and in writing, with senior internal and external audiences – to educate, persuade, negotiate, gain decisions, enforce.
• Ability to influence senior management.
• Ability to make a real contribution in a rapidly changing environment and thrive on change and the need to learn rapidly.
• Computer Literacy (MS Office)

Educational Requirements

• LLB Degree
• Admitted Attorney of the High Court
• Certificate in Compliance Management (advantageous)

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Key Responsibilities

• Account Management: Negotiating and processing of all renewals. Preparation of terms over mandate– Broker Consultant to negotiate with brokers, as they are responsible for final sign off on Renewals over Mandates; processing and following up on all declaration letters, follow up and confirmation of surveys and following up on Renewal Schedules – diary system to be used for this. Service, grow and maintain renewal
• Risk Management: Credit control procedures, loss ratios, broker/agent agreements, ensure compliance with rating underwriting principles and reinsurance
• Underwriting/Risk Analysis: Analyse qualitative and quantitative data prepared by brokers to provide approval for risk selection and acceptance, coverage and price. Recommend creative alternatives in regards to rating plans, coverage and payment plans. Ensure reinsurance is in place where
• Relationship Management: Interact frequently/daily with brokers and/or
• Customer service: Provide timely and professional customer service to Respond to queries within 48 hours. All renewal terms to be supplied to the broker 6 to 8 weeks prior to renewal
• Effective communication: Communicate as needed with stakeholders to obtain information needed to complete screening and transactions, etc.
• Reporting: providing regular/daily feedback on the Renewal Management Assist when required in producing reports
• Innovation: Participate with senior management in initiatives around product development, processes, policy and strategy
• Continuous Process Improvement and Compliance: Adhere to and maintain standards pertaining to the Proposed Branch Renewal process and recommend improvements
• Recordkeeping: Documents, registers, e-mails, Indlela to be kept up to date at all times
• General: When required perform any other duties necessary for the operational effectiveness of the company that is within your ability and
• TCF: Ensure that customers are treated
• Employee Growth: Take responsibility for your own career growth and have regular discussions with relevant role players

Required Knowledge and Experience

• At least 4 years’ commercial short term insurance experience

Educational Requirements

• Matric
• NQF 4 Insurance qualification or equivalent
• RE advantageous