Job Description

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Land and Agricultural
Development Bank of South AfricaCareersManager: UnderwritingDetailsClosing Date 2024/06/26
Reference Number LAN240502-1
Job Title Manager: Underwriting
Division Land Bank Insurance Company
Unit LBIC
Job Type Classification Permanent
Location - Country South Africa
Location - Province Gauteng
Location - Town / City Centurion
Job Advert Summary(Land Bank) is South Africas only specialist agricultural bank established in 1912, the banks sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach. These services enable farmers to finance land, equipment, improve assets and obtain production credit. The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry. As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people.MAIN PURPOSE OF THE JOBOversee underwriting, reinsurance, policy administration and portfolio management of non-life insurance business to contribute to the achievement of financial objectives of the organisation.
Key Performance Areas1. Underwriting and Policy Administration

• Make authoritative decisions about technical underwriting and business enhancement solutions that would significantly improve business performance.
• Develop and maintain underwriting guidelines aligned to the risk appetite of the business.
• Develop processes and procedures to ensure that business is underwritten in accordance with set standards and rates.
• Demonstrate a high degree of knowledge regarding underwriting quantitative and qualitative tools.
• Review, benchmark and update policy cover, policy wording, general terms and conditions.
• Responsible for monitoring profitability as measured by loss ratio improvement.
• Complete assessment of claim trends and services, including 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.
• Participate in interdepartmental discussions between Sales, Claims and Reinsurance on renewal business issues and make recommendations regarding policy plan provisions related and administrative procedures.
• Ensure adherence to organisational policies, practices and procedures.
• Maintain and annually update the underwriting risk policy.
• Oversee staffing, supervision, training, coaching, mentoring, structuring of the underwriting function for effective service delivery.

2. Reinsurance

• Responsible for structuring of reinsurance programmes for all lines of business.
• Prepare annual reinsurance renewal packs.
• Oversee reinsurance optimization.
• Oversee the accuracy and completeness of all reinsurance data.
• Oversee the accurate submission of reinsurance accounts.
• Approve all facultative reinsurance placement.
• Maintain strong relationships with reinsurance partners.

3. Portfolio Management

• Manage underwriting performance of outsourced and binder mandates in line with internal guidelines and company processes.
• Initiate corrective actions where required to maintain quality standards.
• Provide integrated long-term solutions and strategies for dynamic portfolio management to deliver profitable growth.
• Report monthly on binderholder performance against set targets and budgets.
• Provide management with reliable and accurate ad hoc information for decision making.
• Establish controls to ensure that all aspects of the binder agreement are adhered to.
• Effective relationship management and timely escalation of issues.
• Ensure that all policies and procedures are maintained to enable compliance measurement.

4. Product Development

• Develop a product development framework that will drive the development and implementation of new products aand innovation.
• Continuously monitor existing products to identify gaps and the ongoing appropriateness of the original product design and structure, presenting results to stakeholders.
• Develop business cases and present all new development initiatives to the product development committee for approval.

5. Departmental and People ManagementPerformance Management

• Analyse the business plan to determine the applicable deliverables and targets
• Compile the Performance Management documentation in collaboration with the staff

member in terms of: * Job Profile requirements

• Key Performance Areas
• Personal Development Plan
• Conduct performance planning session and Track and monitor performance in accordance with performance contracts
• Conduct performance reviews in accordance with policies and procedures and take corrective actions where necessary

Capacity Planning

• Determine the human resource requirements, in accordance with the expected deliverables and current capacity
• Secure the human capital requirements to ensure that deliverables will be met in accordance with the expected targets
• Set and achieve employment equity targets.
• Minimise staff turnover

Financial Management

• Develop and manage budget
• Manage expenditure and ensure no fruitless expenditure
• Adhere to financial guidelines and thus ensure proper control over expenditure
• Pursue divisional targets and manage the financial health and stability of division

Preferred Minimum Education and Experience

• Honours BCom in Accounting, Finance, Business Management, Risk Management and Insurance
• 8-10years Life and/or Short term insurance underwriting experience
• 8-10years Insurance operating system experience

Critical Competencies

• Underwriting and administration
• Maintenance of policies in an operating system
• Quality Assurance
• Good understanding od reinsurance principles

Additional Requirements

• Extended hours as and when required.
• Travel as and when required.

PolicyPreference will be given to suitably qualified Applicants who are members of the designated groups in line with the Employment Equity Plan and Targets of the Land Bank.Registered Credit Provider: NCRCP18 | VAT number: 4560121081xc2xa9 LAND BANK. All rights reserved.ProcessingDelete Account?Remove Personal Information?Cancel Request to Remove Personal Information?Terms & ConditionsIncomplete ProfileYou need a complete profile before you can make applications. Would you like to complete your profile now?Incomplete ApplicationsYou have incomplete applications, view the application to completeApplyNothing yet!Profile Import OptionsLog In Only: Just log in and do not change my profile.Import and Keep: Import my profile and update matched sections. KEEP sections that do not match. Be sure to clean up any duplicates.Import and Delete: Import my profile and update matched sections. DELETE sections that do not match.

Land Bank