Responsible for ensuring that the claims and contractual processes are implemented according to the requirements of the Guarantees division.
Requirements
- Undergraduate qualification i.e. LLB/BCom
- At least 2-3 years experience in a specialist claims/commercial environment
- Admitted attorney (preferable)
- FAIS compliance (or working towards it)
- Attend and manage all aspects related to a portfolio of specialist claims such as claims registration, claims management, claims negotiation, salvage and recoveries.
- Strategically manage a portfolio of claims.
- Manage attorneys appointment on matters and ensure compliance with agreed service level agreements.
- Monitor and manage legal spend of attorneys.
- Processing of claims on the system with proper recordal of information.
- Manage system processing and compliance with systems by way of payments, updating signed off reserves
- Manage the claims reserve.
- Manage claims within the internal divisional mandates & policies.
- Prepare regular claims reports to internal and external stakeholders.
- Ensure that senior management & reinsurers are kept abreast of claims.
- Assist in identifying and developing claims processes and procedures.
- Understanding of general legal principles.
- Working knowledge and application of policy wordings (standard & bespoke).
- Develop and maintain an understanding of technical and legal aspects impacting on the divisions operation.
- Make recommendations on improved wording and trends identification to underwriters.
- Ensure that all operational mandates are adhered to.
- Oversee the instructions, execution and finalisation of all security documents for the Division.
- Oversee and manage the collateral structures for the various portfolios.
- Approve all guarantee wordings for the team.
- Ensuring that guarantees are equitably drafted, practicable and adhered to in full.
- Identify and advise on specific commercial risks and subsequent risk mitigations.
- Develop and implement the risk management tool to ensure the efficient and effective monitoring and management of all risks.
- Stay abreast of developments in the global guarantee & related insurance markets.
- Attend to operational duties as allocated.
- Effectively liaise and interact with Underwriters.
