Senior Underwriting Manager - Financial Lines

Placements24; Pietermaritzburg; Hybrid; ZAR 1,500,000 - 2,100,000; Full time

Benefits offered by this job

Competitive remuneration package

Annual bonus structure

Medical aid

Retirement fund

CPD opportunities

Career advancement

Relocation assistance

Work-life balance

Job summary

Placements24 in Pietermaritzburg seeks a Senior Underwriting Manager to lead the underwriting strategy for financial lines, driving profitable growth and robust risk management.

You will mentor a high-performing team, collaborate with claims, actuarial and product teams, and build strong broker and client relationships while ensuring regulatory compliance in South Africa.

Qualifications

• 8+ years in underwriting with 3+ in leadership, financial lines focus.
• Relevant tertiary qualification in Finance, Risk, Law preferred.
• Proven ability to develop profitable underwriting strategies.
• Strong analytics and decision-making skills.
• Excellent leadership and people management.
• Knowledge of SA insurance principles and regulations.

Responsibilities

• Develop and implement underwriting strategies for financial lines.
• Mentor and develop underwriting team.
• Underwrite complex, high-value risks with proper pricing.
• Monitor market trends and regulatory changes.
• Collaborate with claims, actuarial and product teams.
• Build broker and client relationships.
• Set team KPIs and track performance.
• Conduct regular portfolio reviews and ensure guidelines.

Skills

Underwriting leadership

Financial lines knowledge

Team management

Stakeholder communication

Regulatory knowledge SA

MS Office

Underwriting systems

Education

Finance/Risk/Law degree

Tools

MS Office

Job description

About the Role

Our client, a leading player in the dynamic insurance sector, is seeking a highly experienced and strategic Senior Underwriting Manager to join their esteemed team in Pietermaritzburg. This pivotal role is responsible for leading and developing the underwriting strategy for financial lines of business, ensuring profitable growth and effective risk management. The ideal candidate will possess a deep understanding of the insurance market, strong analytical skills, and a proven ability to manage and mentor a high-performing underwriting team. This is an exciting opportunity to make a significant impact within a respected organization and contribute to its continued success in the KwaZulu-Natal region.

Key Responsibilities

• Develop and implement comprehensive underwriting strategies for financial lines of business, aligning with the company's overall objectives and risk appetite.
• Manage, mentor, and develop a team of underwriters, fostering a culture of excellence, collaboration, and continuous improvement.
• Underwrite complex and high-value risks, ensuring appropriate pricing, terms, and conditions are applied to maintain profitability and mitigate exposure.
• Monitor market trends, competitor activities, and regulatory changes impacting financial lines, proactively adjusting strategies as needed.
• Collaborate with claims, actuarial, and product development teams to ensure a cohesive approach to risk management and product innovation.
• Establish and maintain strong relationships with brokers and clients, understanding their needs and providing expert advice.
• Set performance targets for the underwriting team and monitor key performance indicators (KPIs) to ensure objectives are met.
• Conduct regular portfolio reviews to assess performance, identify areas for improvement, and ensure adherence to underwriting guidelines.

Requirements

• A minimum of 8 years of progressive experience in underwriting, with at least 3 years in a management or senior leadership role, specifically within financial lines (e.g., D&O, PI, Cyber).
• A relevant tertiary qualification in Finance, Risk Management, Law, or a related field is highly preferred.
• Demonstrable success in developing and executing underwriting strategies that drive profitable growth.
• Exceptional analytical, problem-solving, and decision-making skills, with a keen eye for detail.
• Strong leadership and people management capabilities, with the ability to inspire and motivate a team.
• Excellent communication, negotiation, and interpersonal skills, with the ability to build rapport at all levels.
• In-depth knowledge of insurance principles, practices, and regulatory requirements within South Africa.
• Proficiency in underwriting systems and MS Office Suite.
• Resilience and the ability to thrive in a fast-paced, challenging environment.

Benefits

• competitive remuneration package
• generous annual bonus structure
• comprehensive medical aid
• robust retirement fund
• access to continuous professional development opportunities, including advanced training and certifications
• unique opportunity for career advancement within a leading financial services institution
• supportive and collaborative work environment with a commitment to work-life balance
• relocation assistance may be considered for the right candidate
• be part of a team that values innovation and excellence in Pietermaritzburg