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Lead Specialist: Group Reinsurance

Date: 10-Jun-2021

Location: Johannesburg GAU ZA, ZA

Company: Liberty Group Limited

At Liberty, we employ more than 6 000 people across 7 businesses in 18 African countries. Every day, our employees grow their knowledge by working with diverse groups of people who specialise in a wide range of skills across insurance, asset management, investment and health products. We continually seek to engage, develop, recognise and reward the people who make our business great.

Purpose

To provide advice and support in practice formulation and associated best practice improvement tactics; enabling the provision of specialist group reinsurance operational risk expertise.  This is an exciting leadership role within the Group Reinsurance function.  This function forms part of a team that manages integration with Strategic Partners within the Retail Risk Solutions unit of Liberty's Retail South Africa business.  The role will focus on shaping and executing Liberty Group Reinsurance strategy with the aim of optimising the reinsurance value chain across the Group (both within and outside South Africa, in the life and non-life space). The individual will be expected to work closely with senior management teams of different business areas across the company.  The core purpose of the role is to provide advice and support in reinsurance practice formulation and associated best practice improvement; enabling the provision of reinsurance management expertise to develop Group reinsurance strategy and oversee the execution thereof. 

Minimum Experience

5 - 8 years experience in a similar environment, of which 2 - 3 years at specialist level

Critical Job

The following are critical deliverables in this role:

  • Develop group reinsurance strategy in alignment with the Liberty’s overall business strategy and oversee execution through various governance structures;
  • Work with reinsurance stakeholders to optimise the quantitative risk management and risk transfer through reinsurance arrangements;
  • Understand and make visible reinsurer capabilities that will enable Liberty in business strategy - for example underwriting, data analytics, behavioural economics, digital ecosystems, claims management etc.;
  • Actively scan, explore and where applicable pursue opportunities to use reinsurance as a tool for capital and balance sheet management;
  • Collaborate with Group Risk and Actuarial, Group Capital Management, and other relevant business areas to drive compliance with reinsurance governance, Group Reinsurance Policy, and associated regulatory requirements;
  • Contribute to the broader risk business strategy and partner management work within the team (for example in relation to identification, assessment integration and fintech, insuretech, healthtech etc partners) particularly where these intersect with the reinsurance value chain.

Minimum Qualifications

  • Qualified Actuary OR close to Qualifying as an Actuary.

Outputs

Process

  • Define appropriate strategic options between conflicting priorities and drive decisions that will create value to the organisation and stakeholders.
  • Use information on organisational performance to evaluate long-term impact on organisation positioning and realign strategies and objectives.
  • Advise stakeholders on management and operational matters.
  • Management and optimisation of the customer and adviser interface or engagement layer into the Insurance Operations. .including the ability for customers to initiate an onboarding or service request.
  • Provide support in the oversight of the management of operational risks across organisational functional areas including oversight on the resolution of risk events.
  • Research and collate information and present findings on organisational performance to evaluate long-term impact on organisation positioning and realign strategies and objectives.
  • Develop the Group Reinsurance Strategy and oversee the development and integration of reinsurance insure-tech partnerships.
  • Develop group reinsurance strategy in alignment with the Libertys overall business strategy.
  • Source, prioritise, manage and integrate reinsurance insure-tech partnerships relationships, in line with agreed business strategy.
  • Select and pre-qualify reinsurer partners.
  • Accountable for contributing to strategy enablement and implementation and delivery optimisation across an internal value chain, through best practice development and implementation.
  • Draw on own technical and/or professional knowledge and experience to proactively develop alternatives and identify optimal best practice solutions for tactical problems.
  • Plan to deliver work outputs related to a service or operational area, Manages interdependent functional activities, and directs best-practice priorities, standards and procedures to ensure efficiency within area of specialisation.

Customer

  • Provide authoritative, specialist expertise and advice to internal/external customers, that builds strong relationships and creates a favourable impression aligned to Treating the Customer Fairly (TCF) principles.

Finance

  • Implement and monitor financial controls, management of costs and corporate governance throughout the area of specialisation.

Learning and Growth

  • Contribute positively to human capability improvement, related to knowledge optimisation and associated with area of specialisation.

Governance

  • Strategically influence the design and adoption of integrated risk management, governance and compliance frameworks.
  • Develop and/or align governance and compliance policies for own practice and/or tactical area to identify and manage risk exposure liability related to the area of specialisation.

Competencies

Liberty Values

    Technical Competencies

    • Research and Information Gathering (Proficient)
    • Insurance principles and practice (Advanced)
    • Reporting and Interpretation (Proficient)
    • Strategic Planning (Advanced)
    • Business Acumen (Advanced)
    • Operations Risk Management (Advanced)
    • Customer Advice (Technical) (Proficient)
    • Insurance products and services (Advanced)
    • Customer Relationship Management (Proficient)

    Behavioural Competencies

    • Professional/Technical learning (Proficient)
    • People Management and Empowerment (Proficient)
    • Interpersonal Effectiveness (Proficient)
    • Problem Solving and Analysis (Proficient)
    • Teamwork and Cooperation (Proficient)
    • Customer service orientation (Proficient)
    • Communicating with Impact (Proficient)
    • Relationship Management and Networking (Proficient)
    • Customer Orientation (Proficient)

    We put our knowledge and insight acquired over the past 60 years, to serving a pan-African market of the future.  Liberty has received its eighth certification as a Top Employer from the Top Employers Institute. See details here link


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