Reinsurance Analyst at Santam Insurance

What will make you successful in this role?

• The Reinsurance Underwriting Analyst will be responsible for assisting the Reinsurance Underwriter in underwriting and managing a reinsurance treaty book within one of Santam Reinsurance’s existing geographical regions. This job will appeal to anyone who wants to learn how to build and manage a portfolio of reinsurance risks. While previous experience is nice to have, anyone with a numerate university degree, 0-2 years of post-university work and a desire to work hard and learn should apply.

KEY ACCOUNTABILITIES AND RESPONSIBILITIES WILL INCLUDE:

• Assist the Underwriter in developing, managing and maintaining a reinsurance treaty book in the chosen territory. This is both, a client facing role and an analytics and accounting role.
• Building and maintaining reinsurance broker and client relationships for both existing business and potential business.
• Pricing and underwriting the reinsurance treaties using a range of actuarial and softer methods as well as checking reinsurance contracts
• Support the drive of profitability and growth in the chosen territory according to annual premium volume, profitability and volatility benchmarks. 
• Research different region’s (Re)insurance sectors to determine the best strategy to employ on the portfolio.
• Improving processes by actively engaging stakeholders on the processes involved in the underwriting process.
• Analyzing contract wordings. Checking and monitoring accounts, payments and profitability of the book. 
• Actively involved in projects determined by the Territorial Head and/or Chief Underwriter.
• Administration; updating internal systems and files, running reports.

Qualifications and Experience

• Undergraduate degree with a significant numerate component such as Math, Computer Science, Statistics, Economics, Physics, Engineering & Actuarial Science.
• Up to 2 years’ of work experience preferably in the insurance/ reinsurance, finance and/ or risk management sectors.
• Proficient in MS Office with a strong focus on MS Excel at an Intermediate to Advanced level.
• Willingness to work over the Christmas and Easter Holiday period
• Willingness to travel internationally 
• Advantageous Qualifications, Knowledge and Experience:
• Honours degree, Actuarial Qualification (FIA, CFA or actuarial students who have stopped the professional exams).
• 0-2 years’ experience in the short-term insurance industry/reinsurance environment.
• Good understanding of reinsurance principles and concepts
• An understanding of reinsurance wordings, reinsurance markets and the end-to-end analysis of a reinsurance submission. 
• A strong understanding of insurance and related risks 
• Reinsurance technical accounting knowledge 

Skills

• Excellent verbal and written communication skills
• Analytical ability
• Ability to read and review contracts critically in line with company requirements
• Advanced numeracy skills
• Ability to work independently with limited supervision
• High stress tolerance 
• Ability to work to tight deadlines and under pressure
• Strong negotiation skills
• Team Player
• Ability to work flexible working hours
• Must be pro-active and take ownership of tasks
• Willingness and desire to learn
• Good work ethic
• Ability to multi-task
• Solid interpersonal and relationship building skills
• Good planning and organizing skills
• Time management
• Great understanding of business processes Proficient in Microsoft Excel , MS Word, PowerPoint, Database management systems e.g. SQL and any programming language e.g. Python, Java.

Competencies

• Collaborates 
• Client focus 
• Drives results  
• Flexibility and adaptability 
• Cultivates Innovation
• Organisational savvy
• Balancing stakeholders
• Plans and aligns
• Optimises work processes