Open Roles at Hollard Insurance

Job Advert Summary    

• The Detection Specialist (Data Analyst): Prevention and Detection, delivers Financial Crime Risk Management services across the Group FCRM value chain.  This role includes support to investigations, remediation, underpinned by an effective governance model, with a specific focus on prevention and detection. This role may include AML support to the AML Compliance Officer. 

Key Responsibilities

Prevention

• To support the teams to deliver an effective and efficient Financial Crime Prevention service within the agreed Financial Crime Prevention plan.
• To deliver on Financial Crime Risk Assessments, Combined Assurance Reviews, Financial Intelligence Centre (FICA) Reviews and process and control reviews as per a Financial Crime Risk based approach and approved methodology.

Effective stakeholder management and/or;Detection

• To support the teams to deliver an effective and efficient financial crime detection service within the agreed financial crime detection plan.
• To ensure the development, enhancement and implementation of detection processes, procedures and controls.
• To ensure the development and maintenance of continuous monitoring for financial crime risks relating to internal staff across the Group and Central Units.
• Support the enablement of technologies common across the FCRM functions, example Case Management System (CMS).
• To ensure the extraction and collation of accurate and concise Management Information (MI) and statistics for internal and external reporting.
• Support data reviews in line with internal staff investigations and/ or proactive reviews for deliverables managed by Group FCRM.
• Effective stakeholder management.

Required Knowledge and Experience    
Experience:

• Three (3) years detection analytics experience (i.e Identification of fraud red flags / scenarios through the use of data analytics)
• Three (3) years financial crime risk management experience.
• Financial services experience.

Skills and Knowledge: 

• Analytical skill to navigate analytic tools such as ACL, IDEA, IBM, Qlikview etc.;
• Basic knowledge of the laws of Criminal Procedure and Evidence gathering;
• Basic knowledge of proceeds of Crime, Money Laundering, Corruption, Electronic Communications and Cyber Fraud and related legislation;
• General business comprehension and acumen;
• Advanced investigative interviewing skills;
• Report writing;
• Problem analysis;
• Advanced communication skills (written and verbal);
• Presentation skills;
• Computer literacy (Microsoft Office);
• Conversant in diverse South African languages as advantage;
• Management of internal and external stakeholder relationships; and
• Budget management.

Key Responsbilitites: 

The key outputs required for the core function of the management of financial crime prevention and detection for Hollard Central Units and support to Business Units:

Prevention

• To support the teams to deliver an effective and efficient Financial Crime Prevention service within the agreed Financial Crime Prevention plan.
• To deliver on Financial Crime Risk Assessments, Combined Assurance Reviews, Financial Intelligence Centre (FICA) Reviews and process and control reviews as per a Financial Crime Risk based approach and approved methodology.
• Effective stakeholder management and/or;

Detection

• To support the teams to deliver an effective and efficient financial crime detection service within the agreed financial crime detection plan.
• To ensure the development, enhancement and implementation of detection processes, procedures and controls.
• Support the enablement of technologies common across the FCRM functions, example Case Management System (CMS).
• To ensure the extraction and collation of accurate and concise Management Information (MI) and statistics for internal and external reporting.
• To ensure the development and maintenance of continuous monitoring for financial crime risks relating to internal staff across the Group and Central Units.
• Support data reviews in line with internal staff investigations and/ or proactive reviews for deliverables managed by Group FCRM.
• Effective stakeholder management.

Educational Requirements    

• Legal / Business/I. T/Risk Management/Forensics/Audit Degree and/or equivalent tertiary qualification, relevant for this position.
• CFE (International) or intention to study towards accreditation

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Role Objectives:

This role is responsible for delivering 1st line risk and compliance support to Hollard Insure. The individual will be responsible for contributing to the effective management of risks by implementing and executing risk management activities aligned with Group Frameworks, and assisting Hollard Insure to manage its responsibility to comply with applicable regulatory requirements, standards and codes of conduct through the provision of advice and guidance.

Key Responsibilities:

Operationalise Hollard’s risk and compliance frameworks within all areas of Hollard Insure

• Develop, implement and manage comprehensive risk and compliance self-assessments within every business area through advising on:  
  •   compliance requirements per business area
  •  identifying and rating the applicable compliance risks
  • developing a compliance risk management plan
  • the design of appropriate procedures and processes to manage identified risks
  •  implementing continuous compliance risk monitoring processes
• Perform effective monitoring and reporting of business risks by conducting monitoring reviews of high-risk regulatory items in terms of the assurance coverage plan.
• Identify, evaluate and advise on current or future compliance risks, given changes in the regulatory and compliance landscape;
• Unpack new legislative requirements and effectively and practically translate the requirements impacting on business operations, processes and practices to the management of those business areas.
• Draft policies and procedures, implement and maintain
• Maintain an accurate regulatory universe.
• Manage Insure’s FAIS representative register.
• Identifies issues of non-compliance, and follows the 2nd line reporting process to investigate and finalise the RNC reports efficiently and effectively;
• Proactively consult with business areas to align risk and compliance requirements to current and future business activities.
• Facilitate risk management workshops within teams to identify relevant regulatory risks.
• Review operational transactions, procedures and processes to assess whether they achieve compliance with relevant regulatory requirements.
• Coordinate and manage Group Compliance activities within business.
• Identify and communicate compliance risk issues and assess the adequacy and effectiveness of management's proposed mitigation and prevention plans.
• Identify, assess and report on regulatory non-compliance matters.
• Team management
• Represent the risk and compliance function on various forums and in inter-disciplinary projects/ initiatives where required.

Required Knowledge and Experience    

• Minimum of 8 years of relevant risk management and/or compliance experience in the Financial Services sector
• In-depth knowledge of the Insurance legislation and regulations including Insurance Act; Short-term insurance Act, Long-term Insurance Act, as well as supporting PPR’s; FAIS, FICAA, POPIA, GOI Standards, etc.
• A minimum of 5 years managerial experience.

Educational Requirements    

• Matric
• Relevant tertiary degree
• Postgraduate compliance qualification
• Relevant risk management qualification (e.g. IRMSA, CERA, etc)

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Role Objectives

• Support to Broker Consultants in processing all sales transactions assigned, within the set standards required by the company thus contributing to the productivity of the branch
• Assist the Broker Consultant to develop and maintain effective business relationships with brokers to attract develop and retain profitable business
• Assist where required to interpret, explain and effectively market all commercial products and services and direct enquiries to the respective centers of excellence

Key Responsibilities

• Sales and Marketing: Assist the Broker Consultant to sell Hollard products to brokers and/or agents using consultative selling techniques. Contribute to effective marketing of the Company products by answering questions resolve problems on topics such as policy status, billing, etc, and explaining new or revised products and processes
• Account Management: Support Broker Consultants to meet goals for volume and value of quality new business quoted and written within company guidelines, by managing all accredited brokers, process all quotes assigned update quote register, all quotes to be sent to Broker Consultant who in turn will forward to Broker, complete the new business worklist and responsible for follow up, ensure all renewals are processed for preparation to negotiate with brokers – Broker Consultant responsible for final sign off, processing and following up all declaration letters assist with follow up and confirmation of surveys and ensure Risk Recommendations are followed up – diary system to be used for this, prepare all new business closings prior to handing over to underwriting for processing answering of Broker Consultant’s telephone in their absence. Assist with servicing, growing, and maintaining renewal policies
• 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 regard to rating plans, coverage and payment plans. Ensure reinsurance is in place where applicable. Ensure unsuitable risks are declined
• Relationship Management: Interact frequently with brokers and/or agents

Required Knowledge and Experience    

• Minimum of 3 -5 years commercial short term insurance
• 5 years’ experience in Commercial Underwriting, AGRI.
• Fluent in Afrikaans

Educational Requirements    

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

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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, risk and simple short-term products).
• Support the actuarial administration and management of the in-force suite of products.
• Monitor the ongoing product profitability and to assist with the management thereof within Hollard’s risk appetite.
• 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.

Key Responsibilities

• Define benefit and technical specifications for new product developments and enhancements to existing products.
• Resolve technical queries on premiums, benefits and values and assist with product and benefit complaints appropriately.
• Technical pricing (assumption setting, premium calculation, pricing review and financial business projections) of new and existing products and benefits.
• Draft and/or review policy documents, policy terms and conditions, product marketing and customer communication, and ensuring that these are compliant to Governance standards within Hollard.
• Ensure alignment of new and existing products to legislation, industry guidelines or codes.
• Testing premiums and benefits to ensure products are implemented in line with specifications.
• Monitor ongoing performance of products and assess whether product development objectives are being met.
• Ad-hoc projects and investigations.
• Monitor the competitive positioning of products and benefits relative to the market by features, simplicity, price and ease of business.
• potential risks associated with benefits and customer segments as well as opportunities to mitigate or avoid.
• Develop product and benefit training material as required.
• Conceptualise new products and product enhancements.
• Provide product support to other internal departments such Operations and Distribution.
• Provide technical benefit support on public relations articles.
• Engage with other stakeholders in the business.

Required Knowledge and Experience    

• 0 to 3 years of experience in financial services. Exposure to life insurance is beneficial.
• Knowledge of VBA is beneficial.
• Knowledge of SQL is beneficial.
• Required Knowledge and Skills
• High attention to detail
• High degree of accuracy
• Technically strong
• Ability to work on multiple tasks simultaneously
• Ability / desire to challenge the status quo
• Sound relationship building skills
• Passion for products, pricing and people
• Broad Life Insurance knowledge
• Broad understanding of insurance distribution methods and administration systems
• Commercial mindset and interest in the role of life insurance within society
• 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
• Self-starter / initiator
• Critical thinking and sound questioning of concepts or ideas
• Analytical skills and attention to detail, balanced with strategic vision, a strongly developed creative side and big-picture thinking ability

Educational Requirements    

• 3-year degree in actuarial science.
• Making good progress with the Technical subjects of a professional actuarial qualification.