Insurance Senior Specialist: Business Development

Absa Group; Johannesburg; On-site; ZAR 800,000 - 1,200,000; Full time

Job summary

A leading banking institution in Johannesburg offers a senior role in the insurance sector, focusing on business development and operational readiness. Candidates must have 10+ years of industry experience and a Bachelor’s degree to provide expert advice and manage new business strategies effectively.

Qualifications

• 10+ years in insurance, focusing on risk finance and cell captives.
• Required sales skills for new business acquisition and budgeting.
• Well-versed in regulations like Short-Term Insurance Act.

Responsibilities

• Identify and evaluate new business opportunities in cell captives.
• Coordinate legal contracts, compliance checks, and capital requirements.
• Facilitate performance meetings and governance processes.

Skills

Sales experience

Expertise in risk finance

Understanding of insurance regulations

Project management

Relationship management

Education

Bachelor's Degree in Business, Commerce, or Management

Job description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and a strong regional and international presence, our local bank offers a unique career opportunity to be part of an exciting growth journey, shaping our future as a proudly African group.

Job Summary

10+ years of experience in the insurance industry, preferably within risk finance, cell captives, affinity business, and both first-party and third-party insurance. Sales experience in acquiring new business and budgeting with cell captives are required. Well-versed with regulations governing non-life insurance (GOI, Short-Term Insurance Act, FAIS). The role involves providing expert advice on practice formulation and continuous improvement tactics to support business development.

Job Description

Accountability: New Business

• Identify and evaluate new cell captives and contingency opportunities.
• Lead due diligence and onboarding processes, including KYC checks and segmentation.
• Assess commercial viability and oversee product review and approval processes.
• Coordinate capital requirement calculations and ensure client compliance.
• Manage outcomes of due diligence and liaise with relevant areas for query resolution.
• Design commercial terms and compile reports for deal committees.

Accountability: Operational Readiness and Go-Live

• Coordinate legal contracts, including intermediaries, subscription, outsource, and system addendums.
• Confirm capital requirements, oversee share certificates, and liaise with compliance for regulatory notifications.
• Project manage transition processes, including system updates, account setups, and communication strategies.

Accountability: Maintenance and Relationship Management

• Develop service programs and manage regular performance meetings covering profitability, claims, complaints, regulatory updates, and risk management.
• Facilitate governance processes, including risk management frameworks and market conduct.
• Promote internal marketing and cross-selling within the bank.
• Prepare reports for board and management, including capitalisation, new business, and risk assessments.

Accountability: Licensing and Business Development

• Support license variation applications and develop business cases for expansion.

Education

Bachelor's Degree in Business, Commerce, or Management is required.

Absa Bank Limited is committed to diversity and equal opportunity employment. We reserve the right not to fill the position.