Latest Openings at Bryte Insurance Company Limited

Key Tasks & Accountabilities 

• Produce a Business Plan that reflects market opportunities for the area of responsibility.
• Produce a Sales plan that demonstrates how to identify, develop and manage prospects.
• Underwrite and accept risks within the delegated authority to achieve effective implementation of business.
• Grow and retain Bryte’s Sales target to ensure the GWP and profitability targets are met.
• Track Productivity levels.
• Deliver and enhance the highest level of client satisfaction by working with brokers to map and determine their business needs in delivering superior client service.
• Strategically analyse the Brokers business plan and develop future business opportunities.
• Develop the Broker panel whereby the Business Development Growth targets are achieved.
• through influence and persuasion.
• Ensure that technical and operational underwriting standards, procedures, and controls are.
• complied to.
• Implement agreed underwriting measures to attain targeted loss ratios and rates.
• Ensure adherence to the Regional Teams Sales Plan.

 Business Accountabilities

• Analysis of Governance and risk management executed to Bryte’s expectations and guidelines.
• Provides technical underwriting expertise and guidance to Distribution, Business Units, and Proposition Development in support of the achievement of business plans.
• Contribute to the development of business plans and pricing strategies and alignment of these with National, Business Divisions, Business Units, and regional strategies Support key aspects of portfolio management, analysis to monitor profitability and growth of speciality areas of business, and recommendation of aspects requiring a change or remedial action.
• Provides guidance to lower-level associates and proactively support the development of self and others.
• Customer support and required by the Stakeholders working with regions and other LoBs on a specific case-by-case basis.
• Liaison with Bryte Regions, customers, distributors tied agents, and business partners as deemed required and agreed with respective stakeholders.

Success Measures

• Achievement of the assigned business plan.
• Compliance with agreed business procedures/services level agreements.
• Positive feedback from the team, customers, and distributors.
• Continuous development of technical knowledge and Leadership management development as identified and agreed upon during IDP discussion.
• Successful delivery of business solutions/initiatives (e.g., time quality, cost).
• Underwriting quality (e.g., recommendations, business underwritten, and renewals)
• Minimize underwriting and negotiation leakage.
• Financial, operational and competitive health, and proposition portfolio

Qualifications & Experience

• 5 years+ of Engineering insurance industry experience and sound experience in sales with a strong presence in the Broker community.
• Comply with Industry Regulatory requirements, Company and Best Practice Underwriting Policies as well as local regulatory & industry requirements (RE).
• Has a high level of UW authority and is involved in trade & Industry bodies for areas of specialism.
• Technical competence in Engineering Products and underwriting principles.
• Business and Financial acumen.

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Key Tasks & Accountabilities

Effective preparation and management of the year end annual financial statements for all legal entities in the group in accordance with IFRS

• Compile a project plan in conjunction with the Head of FAR
• Manage project plans by reviewing deliverables and ensuring that milestones are met in terms of project plans, discuss any issues with the Head of FAR
• Hold feedback meetings with project team to identify problem areas or missed milestones (take corrective action where necessary)
• Liaise with different business areas to obtain information required to compile AFS notes and disclosures;
• Provide guidance to those assisting with AFS
• Support subsidiary company financial accounting processes
• Preparation of AFS for all legal entities in the Group
• Review work done for AFS and ensure compliance to IFRS
• Implementation and disclosure of all new IFRS standards
• Ensure audit queries are resolved timeously
• Perform analytical review of balances and identify reason for variances
• Timely submission of statements to Manager and CFO for review
• Submit Annual Financial Statements and additional reports to Board for review and approval; make necessary amendments following Audit Committee meetings

Effective preparation and management of the monthly and quarterly reporting for subsidiaries and Group, including consolidation accounting

• Ensure integrity and effectiveness of accounting system and chart of accounts
• Ensure compliance to IFRS standards (including IFRS 17 accounting standard)
• Implementation of new IFRS standards
• Obtain TBs from all entities within the Bryte Group
• Ensure correct accounting entries for journals posted
• Submit IFRS 17 data to actuaries for modelling
• Ensure correct journals for actuarial outputs
• Prepare and review Balance sheet, Income statement, Statement of other comprehensive income, Statement of Changes in Equity and Cash flow statement for all entities in the Group
• Prepare and review consolidation entries
• Prepare and review Group consolidated accounts – Balance sheet, Income statement, Statement of other comprehensive income, Statement of Changes in Equity
• Submit financial information to Group (OneStream reporting)
• Prepare and review technical accounting notes for Group and subsidiaries
• Reallocation of balances between debtors and creditors
• Review monthly movement analysis and perform analytical review of balances and identify reason for variances
• Reconcile figures to other finance departments
• Provide guidance, coaching and technical support to staff and finance department

Effective preparation and management of the quarterly shareholder and board reporting requirements

• Assistance to prepare and review quarterly Board packs for all legal entities and Group
• Preparation and review of quarterly Balance sheet & Income statement for the Fairfax President’s report
• Timely submission of statements to Manager for review and meeting executive sign-off deadlines

Effective management of financial systems, general ledger process and internal controls

• Regular review of financial system (SAP) for integrity
• Improving and maintaining effective chart of accounts
• Improving and maintaining of internal controls (including journal process)
• Ensure correct accounting between Balance sheet and Income statement (cross-checks)
• Ensure all dimensions are captured in SAP

Effective preparation and management of regulatory reporting on a  Solvency Assessment Management (SAM) basis

• Manage project plan to ensure timely submission to the PA
• Keeping up to date with Prudential Standards and PA legislation
• Ensure that relevant  reporting is prepared in compliance with statutory and legislative requirements – Prudential Standards
• Completion and review of quarterly and annual SAM returns
• Provide financial information and technical input for SAM returns and to actuaries
• Liaise with audit team to ensure timely audit sign-off and clean audit report
• Provide guidance, coaching and technical support to facilitate the development of staff and finance department

Effective liaison and management with the auditors for the external auditing process for the year end audit and regulatory audit

• Liaise with audit team to set project plans and deadlines
• Feedback meetings with audit team to identify problem areas or missed milestones (take corrective action where necessary)
• Provide sufficient information and guidance to audit team to ensure effective audit process
• Ensure all audit issues are cleared and changes required by auditors are auctioned
• Ensure all audit issues are escalated to the relevant areas for correction and implementation

Effective management of investment reporting

• Liaise with investment manger to execute and capture investment trades
• Liaise with investment manager to calculate and book fair value movements
• Ensure investment income is sufficiently accrued and reconciled to statements.

Assistance with direct and indirect tax accounting

• Assist with calculation of direct and indirect tax liabilities
• Ensure accurate accounting for direct and indirect taxes
• Assistence with completion of income tax returns

Effective management of adhoc financial projects

• Manage resources for projects and define roles and responsibilities
• Develop project deliverables and milestones and ensure adherence thereto
• Provide on-going feedback to manager regarding projects
• Provide guidance to team to assist in continued development of staff

Relationships

Internal

• Chief Financial Officer / Head of Financial Accounting & Reporting
• The Board of Directors (indirectly)
• Group Reporting (indirectly)
• Other Finance departments
• Bryte subsidiaries
• Actuarial department
• Legal department
• Other departments within the company

External

Statutory bodies (e.g. FSB, SARS, SARB)
External Audit - PwC
Internal Audit – KPMG

Qualifications & Experience

• Chartered Accountant and 3-5 years experience in short-term insurance industry in a similar role