Head: Underwriting Renasa
Telesure
Join TIH, home to some of South Africa’s leading financial service providers, and grow your career while being part of an organisation with purpose.
Provide authoritative specialist advice to the leadership team to guide the implementation of strategy.
Undertake strategic and tactical financial analysis, modeling, and evaluation to support business leaders in their decision making.
Develop, maintain and implement actuarial models and processes. Models need to be fit for purpose, and compliant to regulatory requirements and able to estimate the reality accurately. Models (and any form of estimation) to be clearly documented with the scope of use, definitions, data, and assumptions made. Ensure that there are process documents in place to ensure that the models can be understood by external stakeholders.
Pricing Model Ownership
Lead and manage the development and maintenance of actuarial models for a significant product line, ensuring full integration with wider business models to enable actuarial analysis, financial reporting, and regulatory compliance. Maintenance of market leading quality standards for actuarial modelling and processes.
Appropriate communication to senior management in terms of model results and impact to the business
Development, maintenance & implementation of fit for purpose actuarial models and processes.
Critical and detailed review of actuarial models and processes.
Pricing Strategy Formation
Lead the development and implementation of strategy for a significant area of responsibility, anticipating complex issues, challenges, and opportunities, and ensuring integration with wider corporate strategy.
Ensure that the price positioning within the Market calibrates to strategic objectives & agreed strategies to achieve Growth and Customer targets, maintaining a healthy tension between Growth and Profitability as per the prerogative of the TIH CEO, STI CEO and STI EXCO, however with Profitability & Profitable Growth the overriding objective.
Insights and Reporting
Establish business-critical strategies to create, present, and communicate high-impact pricing insights and recommendations to critical internal and external stakeholders.
Business Requirements Identification
Elicit the most complex business requirements using a variety of methods such as top management collaboration, scenario evaluation and impact analysis, negotiations, interviews, document analysis, workshops, and workflow analysis to define and achieve strategic pricing objectives.
Improvement / Innovation
Lead the identification of shortcomings, initiate, formulate and implement new business practices within a specific discipline, while developing and delivering projects or a work stream within the organisation's change management program.
Stay up to date with Business developments and develop solutions proactively with Business. Maintain continuous development/research of actuarial techniques and share insights with the team. Find an effective way to improve on efficiencies across the business.
Stakeholder Engagement
Identify and manage stakeholders up to C-suite level, finding out their needs/issues/concerns and reacting to these by leading and coordinating the development of stakeholder engagement plans to support the alignment of objectives and decisions to strategic objectives.
Manage STI CEO and CFO expectations.
Leadership and Direction
Communicate the function's strategy and its relationship to the organisation's mission, vision and values; clarify the actions needed to implement it within the area of responsibility; motivate people to commit to these and to doing extraordinary things to achieve the organisation's business goals. Stay engaged and dedicated to achieve the business goals.
Data Collection & Analysis
Make authoritative recommendations that have a significant impact on the business over the short and long term. Recommendations could be technical or professional in nature.
Conduct research using primary data sources and select information needed for the analysis of key themes and trends.
Recommendations could be technical or professional in nature.
Extract and verify data used for actuarial models. Data/information to be reconciled against credible data sources (for example financials) to ensure the data is complete and accurate. Ensure definitions and assumptions are aligned to the problem statement.
Building Capability
Mentor and coach staff on a technical and professional front. Ensure staff develop further skills and capabilities to ensure better model development. Assist staff to increase own capacity to automate processes. Encourage staff to leverage each others strengths, to improve the teams overall performance.
Operational Compliance
Ensure that business activities within the area of responsibility comply with relevant external regulatory and/or voluntary codes and with internal policies and procedures to minimise business risk and to protect the reputation of the organisation.
Monitor and review performance and behaviors within area of responsibility to identify and resolve non-compliance with the organisation's policies and relevant regulatory codes and codes of conduct.
Maintain standards of integrity and professionalism as set out by the Actuarial Society of South Africa.
Performance Management
Manage and report on the performance of a substantial, diverse team; set appropriate performance objectives for direct reports or project / account team members and hold them accountable for achieving these; take appropriate corrective action where necessary to ensure the achievement of team / personal objectives. Manage the development of pipelines and succession planning as well as performance scoring and management. This includes team administration, the setup of performance contracts and ensure the alignment of the performance management process to the business objectives.
Budgeting & Costing
Take responsibility for setting and managing area budgets so they align with organisational strategy.
Performing budgets, forecasting and assumptions setting, in order to ensure correct parameterisation of the annual business plan aligned to the assumptions contained in it.
Job Purpose
The Head Pricing Personal Lines contributes to the organisational goals by providing actuarial advice, communicating with senior management and managing stakeholder relationships in line with the strategy and financial plans of the business. This is done through the management and development of Actuarial Managers, Specialists, Analysts and Retail Pricing System Developers.Responsibilities
Actuarial and Business AdviceProvide authoritative specialist advice to the leadership team to guide the implementation of strategy.
Undertake strategic and tactical financial analysis, modeling, and evaluation to support business leaders in their decision making.
Develop, maintain and implement actuarial models and processes. Models need to be fit for purpose, and compliant to regulatory requirements and able to estimate the reality accurately. Models (and any form of estimation) to be clearly documented with the scope of use, definitions, data, and assumptions made. Ensure that there are process documents in place to ensure that the models can be understood by external stakeholders.
Pricing Model Ownership
Lead and manage the development and maintenance of actuarial models for a significant product line, ensuring full integration with wider business models to enable actuarial analysis, financial reporting, and regulatory compliance. Maintenance of market leading quality standards for actuarial modelling and processes.
Appropriate communication to senior management in terms of model results and impact to the business
Development, maintenance & implementation of fit for purpose actuarial models and processes.
Critical and detailed review of actuarial models and processes.
Pricing Strategy Formation
Lead the development and implementation of strategy for a significant area of responsibility, anticipating complex issues, challenges, and opportunities, and ensuring integration with wider corporate strategy.
Ensure that the price positioning within the Market calibrates to strategic objectives & agreed strategies to achieve Growth and Customer targets, maintaining a healthy tension between Growth and Profitability as per the prerogative of the TIH CEO, STI CEO and STI EXCO, however with Profitability & Profitable Growth the overriding objective.
Insights and Reporting
Establish business-critical strategies to create, present, and communicate high-impact pricing insights and recommendations to critical internal and external stakeholders.
Business Requirements Identification
Elicit the most complex business requirements using a variety of methods such as top management collaboration, scenario evaluation and impact analysis, negotiations, interviews, document analysis, workshops, and workflow analysis to define and achieve strategic pricing objectives.
Improvement / Innovation
Lead the identification of shortcomings, initiate, formulate and implement new business practices within a specific discipline, while developing and delivering projects or a work stream within the organisation's change management program.
Stay up to date with Business developments and develop solutions proactively with Business. Maintain continuous development/research of actuarial techniques and share insights with the team. Find an effective way to improve on efficiencies across the business.
Stakeholder Engagement
Identify and manage stakeholders up to C-suite level, finding out their needs/issues/concerns and reacting to these by leading and coordinating the development of stakeholder engagement plans to support the alignment of objectives and decisions to strategic objectives.
Manage STI CEO and CFO expectations.
Leadership and Direction
Communicate the function's strategy and its relationship to the organisation's mission, vision and values; clarify the actions needed to implement it within the area of responsibility; motivate people to commit to these and to doing extraordinary things to achieve the organisation's business goals. Stay engaged and dedicated to achieve the business goals.
Data Collection & Analysis
Make authoritative recommendations that have a significant impact on the business over the short and long term. Recommendations could be technical or professional in nature.
Conduct research using primary data sources and select information needed for the analysis of key themes and trends.
Recommendations could be technical or professional in nature.
Extract and verify data used for actuarial models. Data/information to be reconciled against credible data sources (for example financials) to ensure the data is complete and accurate. Ensure definitions and assumptions are aligned to the problem statement.
Building Capability
Mentor and coach staff on a technical and professional front. Ensure staff develop further skills and capabilities to ensure better model development. Assist staff to increase own capacity to automate processes. Encourage staff to leverage each others strengths, to improve the teams overall performance.
Operational Compliance
Ensure that business activities within the area of responsibility comply with relevant external regulatory and/or voluntary codes and with internal policies and procedures to minimise business risk and to protect the reputation of the organisation.
Monitor and review performance and behaviors within area of responsibility to identify and resolve non-compliance with the organisation's policies and relevant regulatory codes and codes of conduct.
Maintain standards of integrity and professionalism as set out by the Actuarial Society of South Africa.
Performance Management
Manage and report on the performance of a substantial, diverse team; set appropriate performance objectives for direct reports or project / account team members and hold them accountable for achieving these; take appropriate corrective action where necessary to ensure the achievement of team / personal objectives. Manage the development of pipelines and succession planning as well as performance scoring and management. This includes team administration, the setup of performance contracts and ensure the alignment of the performance management process to the business objectives.
Budgeting & Costing
Take responsibility for setting and managing area budgets so they align with organisational strategy.
Performing budgets, forecasting and assumptions setting, in order to ensure correct parameterisation of the annual business plan aligned to the assumptions contained in it.
Education
Grade 12/ SAQA Accredited Equivalent (Essential); RE 1 and FAIS recognised qualification (Advantageous); Diploma in Insurance or equivalent (Advantageous)Experience
8 or more years' in short-term insurance (mainly in commercial lines) (Essential); Short-term insurance underwriting on third-party systems (Essential); 5-8 years senior management experience (EssentialThink you have what it takes to be part of an unstoppable team who constantly finds better ways to give peace of mind? Don't wait, apply now.
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