Commercial Portfolio Manager - UMA Division

Santam Insurance; Sandton; On-site; ZAR 800,000 - 1,000,000; Full time

Job summary

A leading insurance firm in Sandton is seeking an experienced professional to manage their strategic portfolio of Underwriting Management Agencies (UMAs). This role involves overseeing financial and operational delivery, driving growth, and negotiating contracts. The ideal candidate will have over 5 years of experience in managing insurance businesses and a professional insurance qualification. Competitive compensation and a dynamic work environment are offered.

Qualifications

• Minimum 5 years’ experience managing outsourced insurance businesses, UMAs, or insurance partners.
• Proven exposure to reinsurance structuring and acquisition processes.

Responsibilities

• Take ownership of strategic relationships with UMA partners.
• Negotiate business terms and contracts with UMA clients.
• Drive profit contribution of the UMA portfolio through strategic account development.
• Identify and secure new UMA partnerships and business opportunities.

Skills

Client-centric relationship management

Strong negotiation and contract management skills

Ability to work under pressure

Strategic and commercial thinking

In-depth knowledge of UMA business models

Technical insurance expertise

Understanding of compliance and regulatory frameworks

Strong financial acumen

High-level interpersonal skills

Project management skills

Education

Professional insurance qualification or equivalent experience

Job description

Find your perfect role at Santam

Responsible for managing a strategic portfolio of Underwriting Management Agencies (UMAs) under Santam’s UMA incubator structure. This role ensures effective onboarding, oversight, and commercial performance of UMA partners while driving execution across the value chain—including acquisitions, reinsurance structuring, operational integration, and system alignment. Acts as the commercial custodian, interfacing with internal technical functions (Underwriting, Reinsurance, Finance, Legal, and Compliance) and external stakeholders (reinsurers, UMA principals, brokers).

What will make you successful in this role?

Key Responsibilities:

Partnering with UMA Businesses

• Take ownership of strategic relationships with UMA partners, applying a client‑centric approach.
• Coordinate, facilitate, and build long‑term strategic relationships with UMA clients and business partners.
• Negotiate business terms and contracts with UMA clients in alignment with strategic and commercial objectives.

Account Management

• Oversee the overall financial, operational, and service delivery to a portfolio of UMA clients, according to agreed service standards.
• Coordinate all internal resources—including Underwriting, Compliance, Legal, Finance, and IT—to ensure effective service delivery.
• Manage and monitor the performance of third‑party administrators where applicable.

Commercial Growth and Acquisitions

• Drive profit contribution of the UMA portfolio through strategic account development.
• Develop trusted business partner relationships and assist UMAs in shaping and executing their business strategies.
• Identify and evaluate cross‑selling opportunities and potential UMA acquisitions.
• Lead or participate in acquisition assessments, due diligence processes, and onboarding of new UMA partners.
• Support sustainability and succession planning for UMA businesses.

Business Development

• Identify and secure new UMA partnerships and business opportunities, aligned with incubator strategy.
• Participate in developing and implementing the UMA business strategy.
• Adopt a proactive sales and market engagement approach to grow portfolio value.
• Lead and mentor Client Management Team members, ensuring consistent service delivery to UMA clients.
• Manage team performance and resource allocation to meet portfolio needs.
• Manage risks associated with UMA relationships, ensuring compliance with contractual, regulatory, and reinsurance requirements.
• Prepare budgets, forecasts, and performance reports, monitoring variances and implementing corrective actions.

Qualifications & Experience

• Minimum 5 years’ experience managing outsourced insurance businesses, UMAs, or insurance partners
• Professional insurance qualification or equivalent experience (FAIS compliant)
• Corporate and commercial underwriting experience (advantageous)
• Proven exposure to reinsurance structuring and acquisition processes

Knowledge & Skills

• Client‑centric relationship management
• Strong negotiation and contract management skills
• Ability to work under pressure, adapt, and make sound decisions
• Strategic and commercial thinking with entrepreneurial flair
• In‑depth knowledge of UMA business models, market dynamics, and partner requirements
• Technical insurance expertise (corporate and commercial underwriting)
• Understanding of compliance and regulatory frameworks for UMAs
• Reinsurance structuring knowledge (treaty and facultative)
• Cell captive structuring knowledge (advantageous)
• Strong financial acumen, including ability to interpret financial statements and calculate performance ratios (e.g., ROE)
• Proven ability to identify acquisition opportunities and conduct commercial due diligence
• High‑level interpersonal skills, stakeholder engagement, and influencing ability
• Project management, product development, and research skills

Recruitment Process

1. Our vacancies are advertised between 3‑5 days depending on market availability of required skills.
2. Initial screening of applications takes a couple of days based on volume and role complexity.
3. Long‑listed candidates are reviewed by the hiring manager for the next stage.
4. Telephonic screening to understand candidates and clarify queries.
5. Competency‑based interview with panel; dates confirmed via e‑mail.
6. Optional psychometric assessment depending on role requirements.
7. Potential second interview with the Head of Department.
8. Final offer and onboarding; documentation collected before payroll integration.

TIPS & TRICKS

Getting ready for your interview

There is not just one way to be successful at Santam, nor is there one way to interview with us. Interviewing is a two‑way process – it helps us learn about you, and it helps you learn about us, our people, and what you could do here.

Santam has been officially recognised by the Top Employers Institute as a Top Employer 2025 for excellence in people practices. This is the ninth consecutive year that we have achieved this accolade.