General Manager Trade Credit at Old Mutual South Africa

Job Description

Executive leadership of Domestic & Export Trade Credit insurance line of business in order to maintain the market-leading position of CGIC. Constructive engagement and mutual support for Exco colleagues and the CEO in order to formulate and deliver against the company strategy and scorecard.

Accountable for the design and development of a technical underwriting framework and end-to-end management of portfolios of Trade credit customers. 

• Develop and oversee the implementation of underwriting strategy to ensure the underwriting processes support the achievement of the business strategy.
• Build operational capabilities and drive efficiencies to promote a leading customer experience for clients and intermediaries.
• Manage GWP growth in balance with acceptable loss ratios to drive sustainable profitability of this line of business.
• Oversee risk mitigation strategies including reinsurance ceilings, Atradius co-operation, the mandate system, underwriting guidelines within risk appetite, and internal controls to protect the organization, its people and resources.
• Nurture talent and leadership development for the sustainability of the business, as well as promoting a high standard of technical training and excellence.
• Early adoption of new software-as-a-service underwriting platform and constructive role in the implementation of this system and adoption within CGIC.
• Facilitate sound key client and intermediary relationships in a spirit of long-term partnership and problem-solving. Maintain excellent key client retention levels.
• Work across the business to integrate pricing, product, claims, and support for the new business team, to achieve and sustain real growth above inflation.
• Pursue strategies which put the customer first.
• Diversification of product lines and non-South Africa exposure to reduce concentration risk.
• Foster and encourage the core values of the Old Mutual Group.

Operational Management Oversight

• Develop and establish quality control measures to improve profitability of the portfolio across the business by identifying pricing and risk gaps within underwriting, claims or sales mandates and / or policies across the value chain.
• Develop and implement technical underwriting framework including product wording, risk acceptance criteria, underwriting rules & guidelines, retention limits, survey standards and risk classification guide.
• Develop and implement a product management framework that identifies and corrects loss trends and problem areas and provides remedial solutions for implementation by sales and underwriting teams.
• Oversee business performance to stengthen capabilities within the underwriting and claims teams, adherence to policy terms, coverage acceptance and exposures, pricing techniques and changes, claims trends and issues to ensure continued acceptable performance of the portfolio.
• Ensure that risk is managed optimally within the technical framework particularly in risk acceptance and underwriting appetite.
• Report on performance of the Trade Credit portfolio and significant losses and trends.
• Liaise with reinsurance department to ensure adequate reinsurance is in place to support technical underwriting appetite and product sets within risk based capital structure defined by corporate actuarial.
• Serve on internal company or industry committees, and act as a technical resource for underwriting and reinsurance issues across the business.

Continuous Improvement

• Ensure statutory and legislative knowledge of the team is always current in order to resolve customer complaints, to advise the business on corrective solutions to mitigate risks and to improve the customer experience whilst complying with governance requirements.
• Ensure adherence to organisational policies, practices and procedures.
• Identify solutions to enhance cost control, increase operational efficiency and manage operating budget goals.

Service Delivery to Delight the Customer

• Maintain service, quality and desired outputs across the business process by ensuring compliance to policies, procedures and standards.
• Establish constructive operational relationships with key stakeholders in the various channels and administrative teams.
• Develop work routines in line with operational plans / schedules in order to manage achievement of service delivery goals.
• Share knowledge on, and participate in the creation of new standards, control systems and procedures to enhance service delivery.

Cost Management

• Accountable for the development and implementation of fit for purpose budgets and controllable cost discipline.
• Accountable for managing supplier relationships, and budgets associated with projects.

People Practices

• Align own behavior with the organisational culture and values.
• Share and transfer product, process and systems knowledge to colleagues and team members.
• Collaborate and work with the business to deliver required service levels.
• Actively share information and grow other team members regarding successes, issues, trends and ideas.

Minimum Requirements

•     Bachelor’s degree in commerce, Finance or Economics.
•     Master’s in Business Administration is an advantage. 
•     Understanding of international trade.
•     Informed on current affairs and economic and business trends relevant to CGIC business and underwriting practices.
•     FAIS Qualified (RE1 representative and preferably KI).
•     10 – 15 years’ experience in Trade Credit Insurance.
•     5 – 8 years’ experience as an executive leading a revenue generating business within the insurance industry.