WealthInsure Underwriter

Standard Bank Group; Roodepoort; On-site; ZAR 600,000 - 1,000,000; Full time

Job summary

A leading financial services group is seeking an Underwriter for the WealthInsure portfolio. The ideal candidate will manage underwriting operations, develop strategies, and ensure compliance with regulations. Candidates must have substantial experience and a relevant degree to support effective decision-making and risk assessment.

Qualifications

• Minimum 5 years of underwriting experience in short-term insurance.
• Relevant tertiary qualification related to finance or insurance.
• Passed FAIS exams with at least 60 credits.

Responsibilities

• Underwriting the WealthInsure portfolio for profitable growth.
• Developing underwriting rules and referral processes.
• Providing technical underwriting advice.

Skills

Decisiveness

Leadership

Interpersonal skills

Analytical skills

Customer focus

Education

Grade 12/Matric Certificate

BA degree (preferably in Risk, Finance, Insurance)

Postgraduate or professional qualifications in risk management

Job description

Company Description

Standard Bank Group is a leading Africa-focused financial services group and an innovative player on the global stage, offering a variety of career-enhancing opportunities. Our clients range from individuals to businesses of all sizes, high net worth families, and large multinational corporates and institutions. We are passionate about creating growth in Africa, bringing true, meaningful value to our clients and communities, and creating a sense of purpose for our employees.

Job Description

The role involves underwriting the WealthInsure portfolio with the goal of achieving sustained profitable growth. Responsibilities include setting and updating underwriting rules, pricing, and coverage in collaboration with relevant teams. The individual will develop intelligent referral underwriting rules, provide creative solutions for business partners, identify underwriting trends, and report issues to senior management and actuarial teams.

The incumbent will support WealthInsure Portfolio Management in:

1. Development of underwriting rules and referral processes
2. Implementation of corrective underwriting actions
3. Strategic input on premium changes for new and renewal policies
4. Providing technical underwriting advice
5. Reviewing reinsurance structures in conjunction with actuarial and SIL teams

Qualifications

• Minimum Grade 12/Matric Certificate
• Full qualification recognized by the Registrar
• Relevant tertiary qualification such as a BA degree (preferably in Risk, Finance, Insurance)
• Postgraduate or professional qualifications in risk management are advantageous
• Passed FAIS exams with a minimum of 60 credits, complying with FAIS legislation

Experience Required

• Minimum 5 years of underwriting experience in short-term insurance
• Experience managing a personal lines portfolio
• Ability to analyze and compare policy offerings and identify gaps

Additional Information

Behavioral Competencies:

• Decisiveness and initiative
• Leadership and supervision
• Development of others
• Interpersonal skills
• Principled and values-driven
• Persuasion and influence
• Technical proficiency
• Planning and organization
• Results orientation and customer focus
• Networking and relationship management

Technical Competencies:

• In-depth knowledge of personal lines insurance
• Basic ratemaking knowledge
• Understanding of industry policy wording across classes
• Knowledge of insurance regulations (FAIS, PPR, NCA, Acts)
• Insurance operations understanding
• Technical insurance knowledge