Latest Openings at Land Bank Careers

Key Performance Areas

1. Underwriting and Administration

• Evaluate and assess credit life and whole of life insurance proposals.
• Determine required premium level based on experience and manual rates plan design, services, and competitive information in accordance with organisational guidelines.
• Demonstrate a high degree of knowledge regarding underwriting quantitative and qualitative tools and communicate the outcomes clearly to Sales and Claims functions.
• Research all problems and risk related issues by using initiative in problem solving that involves management in decision making as necessary.
• Responsible for monitoring profitability as measured by loss ratio improvement. 
• Complete assessment of claim trends and services.
• Negotiate all subsequent appeals with Sales regarding premium levels and policy plan provisions and involve appropriate people in decision making and negotiating as necessary.
• Review all customer and Sales requests for policy and plan changes. 
• Determine contract and pricing changes necessary according to underwriting guidelines and use independent judgment. 
• Review, benchmark and update policy cover, policy wording, general terms and conditions.
• Continuous improvement to ensure effective service
• Ensure statutory and legislative knowledge is always current in order to resolve customer complaints, to advise the business on corrective solutions to mitigate risks and to improve the customer experience whilst complying with governance requirements.
• Ensure adherence to organisational policies, practices and procedures.
• Identify solutions to enhance cost effectiveness and increase operational efficiency

2. Maintenance of policies in the operating system

• Receive the information to be captured and analyse to determine the nature of the capturing required
• Capture the information accurately on the system
• Process debit order collections.
• Ensure that all Sasria rates are embedded in the system.
• Submit captured information for approval where necessary

3. Quality Assurance

• Determine the quality requirements applicable to the work environment
• Ensure that all work conforms to the quality requirements in terms of delivery
• Initiate corrective actions where required to maintain quality standards
• Ensure that all policies and procedures are maintained to enable compliance measurement.
• Continuously monitor existing products to identify gaps and the ongoing appropriateness of the original product design and structure, presenting results to stakeholders

Preferred Minimum Education and Experience

• Commercial Business Degree
• 5-8 years Life insurance underwriting experience
• 5-8 years Insurance operating system experience

Critical Competencies

• Underwriting and administration
• Maintenance of policies in an operating system
• Quality Assurance
• Good underwriting principles

Additional Requirements

• Extended hours as and when required.

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Key Performance Areas

1. Reinsurance accounting and administration

• Oversee the quartley preparation and submission reinsurance accounts for life and non-life insurance business.
• Prepare term adjustments, sliding scale commission calculations, and profit commission calculations.
• Perform monthly reinsurance reconciliations for all lines of business.
• Ensure timely recovereability and settlement of all reinsurance transactions.
• Prepare monthly reinsurance analysis reports for management review.
• Ensure adherence to all terms and conditions as stipulated in various reinsurance treaties.
• Build and maintain relationships with the appointed reinsurance broker for both existing business and potential business.
• Develop, implement and manage a leading framework that optimises facultative and outside treaty reinsurance placements
• Lead the strategic planning for structuring reinsurance programmes for all lines of business.
• Accountable for the accuracy and completeness of all reinsurance data.
• Prepare annual reinsurance renewal packs.
• Implement analytical tools to provide critical insight on reinsurance performance.
• Work closely with the risk and actuarial function to model Own Risk and Solvency Assessment (ORSA) scenarios and impact on reinsurance.
• Responsible for the reinsurance and risk other forms of risk transfer policy.
• Research all problems and risk related issues by using initiative in problem solving that involves management in decision making as necessary.
• Participate in interdepartmental discussions between Undewriting, Claims, Sales, and Actuarial on renewal business issues and make recommendations regarding policy plan provisions and administrative procedures. 
• Support the underwiting team and drive of profitability and growth according to annual premium volume, profitability targets.

2. Reinsurance structuring

• Actively manage and reduce reinsurance risk, overexposures, counterparty risk, and gaps in cover.
• Communicate with underwriting technical department regarding any changes or proposed changes to the reinsurance wordings to ensure no gaps in cover and challenge reinsurers on unacceptable restrictions.
• Negotiate favourable terms on reinsurance reaties.
• Provide sufficient and detailed reinsurance data to the reinsurance brokers and the reinsurance market as an when required.
• Lead reinsurance optimization efforts.

3. Maintenance of policies in the operating system

• Lead the process to automate routine reinsurance transactions.
• Lead user acceptance testing initiatives across product lines and systems.
• Maintain system in accordance with policies, procedures and legal requirements

4. Quality Assurance

• Determine the quality requirements applicable to the work environment
• Ensure that all work conforms to the quality requirements in terms of delivery
• Initiate corrective actions where required to maintain quality standards
• Ensure that all policies and procedures are maintained to enable compliance measurement
• Preferred Minimum Education and Experience
• Commercial Business Degree
• 5-8 years Life and/or Short term reinsurance experience 
• 5-8 years Insurance operating system experience

Critical Competencies

• Reinsurance accounting and administration
• Reinsurance structuring
• Quality Assurance
• Maintenance of policies and operating system

Additional Requirements

• Extended hours as and when required.

go to method of application »

Key Performance Areas

1. Underwriting and Administration

• Evaluate and assess insurance proposals.
• Determine required premium level based on experience and manual rates plan design, services, and competitive information in accordance with organisational guidelines.
• Demonstrate a high degree of knowledge regarding underwriting quantitative and qualitative tools and communicate the outcomes clearly to Sales and Claims functions.
• Research all problems and risk related issues by using initiative in problem solving that involves management in decision making as necessary.
• Responsible for monitoring profitability as measured by loss ratio improvement. 
• Complete assessment of claim trends and services.
• Analyse all necessary historical account information.
• Determine renewal terms including required premium level and policy plan change recommendations and deliver complete renewal package to Sales according to organisational department guidelines.
• Accountable for the accuracy and completeness of all renewal data.
• Negotiate all subsequent appeals with Sales regarding premium levels and policy plan provisions and involve appropriate people in decision making and negotiating as necessary.
• Participate in interdepartmental discussions between Sales, Claims and Underwriting on renewal business issues and make recommendations regarding policy plan provisions and claims and administrative procedures.  Communicate recommendations to Sales for delivery to customer.
• Review all customer and Sales requests for policy and plan changes. 
• Determine contract and pricing changes necessary according to underwriting guidelines and use independent judgment. 
• Negotiate with Sales subsequent appeals and manage changes according to organizational procedures.
• Complete semi-annual and ad hoc profitability analysis for all assigned cases and provide summary of analysis to management and Sales.  Analysis to include but not limited to
• Continuous improvement to ensure effective service
• Ensure statutory and legislative knowledge is always current in order to resolve customer complaints, to advise the business on corrective solutions to mitigate risks and to improve the customer experience whilst complying with governance requirements.
• Ensure adherence to organisational policies, practices and procedures.
• Identify solutions to enhance cost effectiveness and increase operational efficiency
• Maintain and annually update the underwriting risk policy

2. Maintenance of policies in the operating system

• Receive the information to be captured and analyse to determine the nature of the capturing required
• Capture the information accurately on the system
• Process debit order collections.
• Ensure that all Sasria rates are embedded in the system.
• Submit captured information for approval where necessary
• Maintain system in accordance with policies, procedures and legal requirements

3. Quality Assurance

• Determine the quality requirements applicable to the work environment
• Ensure that all work conforms to the quality requirements in terms of delivery
• Initiate corrective actions where required to maintain quality standards
• Ensure that all policies and procedures are maintained to enable compliance measurement

Preferred Minimum Education and Experience

• Commercial Business Degree
• 5-8 years Life and/or Short term insurance underwriting experience 
• 5-8 years Insurance operating system experience

Critical Competencies

• Underwriting and administration
• Maintenance of policies in an operating system
• Quality Assurance
• Good underwriting principles

Additional Requirements

• Extended hours as and when required.