Santam Reinsurance has two Reinsurance Analyst vacancies available. The role reports to one of the Territorial Heads and will be based at the Santam Head Office in Bellville.
What will make you successful in this role?
The Reinsurance Underwriting Analyst will be responsible for assisting the Reinsurance Underwriter in underwriting and managing a reinsurance treaty book within one of Santam Reinsurances existing geographical regions. This job will appeal to anyone who wants to learn how to build and manage a portfolio of reinsurance risks. While previous experience is nice to have, anyone with a numerate university degree, 0-2 years of post-university work and a desire to work hard and learn should apply.
Key Accountabilities And Responsibilities Will Include
- Assist the Underwriter in developing, managing and maintaining a reinsurance treaty book in the chosen territory. This is both, a client facing role and an analytics and accounting role.
- Building and maintaining reinsurance broker and client relationships for both existing business and potential business.
- Pricing and underwriting the reinsurance treaties using a range of actuarial and softer methods as well as checking reinsurance contracts
- Support the drive of profitability and growth in the chosen territory according to annual premium volume, profitability and volatility benchmarks.
- Research different regions (Re)insurance sectors to determine the best strategy to employ on the portfolio.
- Improving processes by actively engaging stakeholders on the processes involved in the underwriting process.
- Analyzing contract wordings. Checking and monitoring accounts, payments and profitability of the book.
- Actively involved in projects determined by the Territorial Head and/or Chief Underwriter.
- Administration; updating internal systems and files, running reports.
- Undergraduate degree with a significant numerate component such as Math, Computer Science, Statistics, Economics, Physics, Engineering & Actuarial Science.
- Up to 2 years of work experience preferably in the insurance/ reinsurance, finance and/ or risk management sectors.
- Proficient in MS Office with a strong focus on MS Excel at an Intermediate to Advanced level.
- Willingness to work over the Christmas and Easter Holiday period
- Willingness to travel internationally
- Advantageous Qualifications, Knowledge and Experience:
- Honours degree, Actuarial Qualification (FIA, CFA or actuarial students who have stopped the professional exams).
- 0-2 years experience in the short-term insurance industry/reinsurance environment.
- Good understanding of reinsurance principles and concepts
- An understanding of reinsurance wordings, reinsurance markets and the end-to-end analysis of a reinsurance submission.
- A strong understanding of insurance and related risks
- Reinsurance technical accounting knowledge
- Excellent verbal and written communication skills
- Analytical ability
- Ability to read and review contracts critically in line with company requirements
- Advanced numeracy skills
- Ability to work independently with limited supervision
- High stress tolerance
- Ability to work to tight deadlines and under pressure
- Strong negotiation skills
- Team Player
- Ability to work flexible working hours
- Must be pro-active and take ownership of tasks
- Willingness and desire to learn
- Good work ethic
- Ability to multi-task
- Solid interpersonal and relationship building skills
- Good planning and organizing skills
- Time management
- Great understanding of business processes Proficient in Microsoft Excel , MS Word, PowerPoint, Database management systems e.g. SQL and any programming language e.g. Python, Java.
- Collaborates
- Client focus
- Drives results
- Flexibility and adaptability
- Cultivates Innovation
- Organisational savvy
- Balancing stakeholders
- Plans and aligns
- Optimises work processes
Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia.
Our success is rooted in our passion for our clients and everything we do is centered on our delivery of Insurance Good and Proper. Were about people. People drive our business so it follows that we want to recruit the best people possible whether they work for us permanently or for a short time as temporary employees.
At Santam we are committed to transformation and embracing diversity. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society. In achieving our employment equity goals we give preference to applicants from the designated groups in alignment with the Divisions Employment Equity targets.
