Job Description

Introduction

This role is responsible for the end-to-end ownership and resolution of all Market Conduct and FSCA regulatory requirements across multiple engagement channels. This role will also ensure point of contact resolution is delivered as far as possible, whilst ensuring that out of scope interactions are fully facilitated and managed through to resolution.

Disclaimer

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Role Purpose

An essential function of this role is to deliver finalization and ongoing regulatory reviews in respect of the Market Conduct framework as defined by both regulatory bodies and legislation. The role will also encompass the identification of gaps within a cell captive environment and will work closely with each responsible cell captive to resolve them. The role aims to build trusted relationships with our clients/intermediaries through providing service assistance of the highest quality, at all times.

Requirements

Matric /Grade 12
Relevant tertiary qualification
Relevant Insurance Experience
At least 3- 5 years experience
Sound Insurance knowledge (Personal Lines & Commercial)
Knowledge of Industry practices and procedures
Market Conduct knowledge and application thereof
Working knowledge of relevant legislation and impact on the insurance environment
Understanding of Cell Captive Insurance Concept
Understanding and sound knowledge of compliance and financial regulatory practices applicable to the Industry
Intermediate computer literacy essential (Word/Excel/Outlook/PowerPoint)

Duties & Responsibilities

Nature of work:

Under limited supervision, plans, coordinates and performs advanced level professional work in the market analysis of the business practices and policies relating to enforcement of market conduct to ensure compliance with applicable insurance laws and regulations. Accesses and analyses data on market conduct, advertising practices, claims practices, operational processes, underwriting procedures and patterns of consumer complaints relating to Cell Captives on both the short term and life license, tests for level of compliance with statutes and regulations. Conducts Market Conduct due diligence reviews on Cell Captives in respect of the implementation of the relevant legislation as published from time to time (and any amendments where applicable) for use in on-site market conduct evaluation. Supervises the determination of validity of compliance and adherence to legislation. Develops and recommends formal procedures to bridge any gaps identified. Performs related work as required

Knowledge, Skills and Abilities

Knowledge of the business practices and procedures of cell captives. Knowledge of legislative and regulatory requirements relating to the insurance industry. Knowledge of the records maintained by insurance companies. Knowledge of database and spreadsheet applications. Ability to collect data from a variety of sources. Ability to compile and analyse data and draw conclusions on relevant practices, policies and rates of regulated entities. Ability to convey ideas clearly and concisely in business correspondence and reports. Ability to communicate effectively, orally and in writing

Client Service Delivery

Uses knowledge of our products to secure end-to-end finalization of all customer interactions
Facilitates problem solution across organizational boundaries
Responsible for managing reputation risk associated with enforcement of legislation
Responsible for managing finalization of reports
Responsible for ensuring that service delivery to clients/intermediaries is consistent with best practice

Personal Effectiveness

Accountable for service delivery through own efforts
Individually accountable for managing own time, tasks and output quality
Makes increased contributions by broadening individual skills
Collaborates effectively with others to achieve personal results
Accepts and lives the company values

Relationship Building

Owning the relationship with selected intermediaries
Developing and maintaining effective working relationships with external and internal clients
Personal interaction when liaising with Clients/ Intermediaries

Self-management and teamwork (People)

Develop and maintain productive and collaborative working relationships with peers and stakeholders
Positively influence and participate in change initiatives
Continuously develop own expertise in terms of professional, industry and legislation knowledge
Contribute to continuous innovation through the development, sharing and implementation of new ideas
Take ownership for driving career development

Competencies

Business Acumen
Client/ Stakeholder Commitment
Drive for Results
Leads Change and Innovation
Collaboration
Impact and Influence
Self-Awareness and Insight
Diversity and Inclusiveness
Excellent communication (verbal & written) interactive skills
* Sound problem solving skills and ability to take ownership for problems