Senior Underwriter at Old Mutual April, 2025

Job Description

Role Desciption

• Use your specialist technical knowledge (medical or financial) to assess risk for business and/or specific products (Underwriter – inclusive of Financial Risk assessment, Age Assessment, Health Risk (Anti Selection Risk) based on size and cover, governance assessment, Quality management all done within the underwriting guidelines and product rules. Determine, selects and accept risk and/or liability on behalf of the organisation (either medical or financial). Evaluate proposals and medical / financial evidence against business rules and practices. Exercises discretion in decision making within standardised practice.
• Provide a seamless, proactive and interactive personalised service experience to a panel of financial planners. Build relationships with distribution channel colleagues and key stakeholders in the business, whilst ensuring that your Underwriting decisions are optimal.

Role Requirements

• Five years Life Underwriting experience is essential.
• Matric essential.
• Understanding of anatomy & physiology at Grade 12 level will be advantageous.
• Completion of a financially / medically aligned degree, e.g. Nursing, BCOM, BSC or a three (3) year related diploma would be a distinct advantage.
• Must have experience in the Financial Service Industry.
• PC proficiency in MS Office i.e. Word, Excel etc.
• Attention to detail.
• Strong planning, organising and time-management skills.
• Ability to work under pressure whilst still maintaining a professional image.
• Well developed problem solving and decision-making skills.
• Strong team player.
• Well-developed written & verbal communication skills. Preference will be given to bilingual candidates (English and Afrikaans or an African language).
• The successful incumbent will be expected to work overtime and shifts where necessary
• Reviews risk submissions from clients, agents, and referrals, and underwrites insurance requests within guidelines of the underwriting manual and authority limits. Applies underwriting and risk-selection techniques to determine acceptability of new and renewal insurance risks.

Responsibilities

Underwriting Insurance Cases 

• Review new business and renewal proposals to ensure acceptability and completeness of underwriting and rating information, providing price quotations for underwriters and referring unusual or complex cases to senior colleagues.

Underwriting Automation

• Carry out allocated research and analysis to support the development, validation, and improvement of automated underwriting processes and systems.

Organizational Risk Management

• Keep track of risk parameters, identifying any deviations and reporting them to more senior colleagues. Involves working within established risk management systems.

Regulatory and Compliance Management

• Investigate standard incidents using current regulatory and compliance processes, systems, and procedures, and take action to solve immediate compliance issues. Advise more senior colleagues on more complex problems.

External Communications

• Help others get the most out of external communications systems by offering support and advice.

Recommendations

• Advise managers how to apply a wide variety of existing procedures and precedents.

Document Preparation

• Organize and prepare complex documents using a variety of applications for technology devices, such as standard office software. Also responsible for gathering and summarizing data for special reports.

Operational Compliance

• Develop knowledge and understanding of the organization’s policies and procedures and of relevant regulatory codes and codes of conduct to ensure own work adheres to those standards. Obtain authorization from a supervisor or manager for any exceptions from mandatory procedure.

Personal Capability Building

• Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching. Develop and maintain an understanding of relevant technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.

Skills

• Action Planning, Compliance Software, Computer Literacy, Crisis Management, Data Compilation, Data Controls, Legal Practices, Management Reporting, Numerical Aptitude, Oral Communications, Professional Presentation, Regulatory Compliance Management, Risk Management, Underwriting Management

Competencies

• Action Oriented
• Business Insight
• Collaborates
• Communicates Effectively
• Decision Quality
• Ensures Accountability
• Financial Acumen
• Instills Trust

Education

• NQF Level 5 – Higher, Advance or Occupational Certificate or equivalent

Closing Date