The Purpose of the role is to ensure effective financial oversight performance and optimization and strategic governance across the following insurance portfolios including Credit, Funeral and other Life Insurance business.
The portfolios which this role takes care of collectively represent a material contribution to TFG insurance profitability, risk exposure, and long-term sustainability, while also spanning a mix of growth, mature and run-off products
A Business Degree or similar Advance certificate in STI or LTI (advantageous) To have completed the RE 1 Exams and Class-of-Business Training in the Short-term and Long-term Insurance categories for Key Individual (KI) & Representatives (advantageous) To have met the requirement to be registered as a KI (advantageous) Ability to effectively apply financial and marketing knowledge to ensure growth of the portfolio At least 3- 5 years relevant business and marketing experience in a managerial/leadership role, including: Experience with managing and to oversee portfolio product management, product development and product performance with the respective product managers and service providers 2 years’ experience in a supervisory role 2 years management experience managing a team of managers – [advantageous] Knowledge of Insurance products and relevant legislation (e.g. FAIS, Insurance Acts, POPI, etc) including: Experience in distribution channel management with internal stakeholders and external service providers to ensure return on capital employed through measurable objectives Experience in operational oversight of financial services rendered and the processes to ensure TFC and compliance to the FAIS act Experience with building brands within financial services. Sound understanding & application of people management procedures [e.g. IR, coaching] Skills: Analytical Processes Analyze Alternatives and Recommend Solutions Builds Rapport Business Case Contribution Claims Handling Claims Management Claims Notification and Investigation Claims Settlement Data Collection and Analysis Data Control Financial analysis Financial Modelling In-Depth Questioning Information Management Insurance Principles and Practice Insurance Products and Services Knows the Buying Influences Manages Buyer Indifference Behaviours: Being Resilient - rebounding from setbacks and adversity when facing difficult situations. Building Effective Teams - forms, develops and leads a group of individuals toward the achievement of a common team objective Builds Networks - establishes and nurtures internal and external relationships in order to create robust, and mutually beneficial, partnerships Cultivates Innovation - creates an environment that fosters and nurtures a culture of creativity which drives success Decision Quality - consistently makes timely, well-rounded and informed decisions Drives Engagement - inspires, motivates and empowers individuals to go above and beyond for the benefit of the team and the organisation Ensures Accountability - takes accountability and ensures others are held to account on agreed upon performance targets Manages Complexity - interprets and simplifies complex and contradictory information when resolving organisational problems organisational Savvy - understands and navigates dynamics created by processes, systems, and people Situational Adaptability - effectively adjusts their behaviour, approach, and decision-making based on the situation Strategic Mindset - thinks and plans strategically, focusing on the long-term goals and objectives of the organisation Preference will be given, but not limited to candidates from designated groups in terms of the Employment Equity Act.
Continuously develop the Insurance product strategies Identify and quantify opportunities for new product launches and product range expansion - Compilation, management of and responsibility for, full P & L budgets including detailed variance and performance reporting including: End-to-end financial stewardship, ensuring alignment between Billings, Claims performance, Expenses and Net Margin outcomes incl. Budgeting, forecasting, and variance analysis across all products in scope Strategic financial and marketing planning and implementation Responsibility and accountability for external partner relationships Negotiation with relevant internal stakeholders at all levels within the organization with regards to strategies and store campaigns Profitability optimisation, particularly where growth products (e.g. TFG MCLI and Funeral) must be balanced against rising claims costs and VAT-driven margin pressures Conduct regular reviews of the market, customer and competitor offerings Support for strategic decisions relating to product prioritisation, redesign, or exit Setting up and monitoring sales, delivery and activation targets Achieve Profit Objectives by managing the portfolio targets and growth strategies for a portolio of products within the insurance division Managing staff related to the portfolio Maintain close collaboration with Legal and Compliance department to ensure all products and processes comply with the relevant legislation Full knowledge of and compliance to all relevant legislation (STI, LTI, FAIS, NCA, CPA & POPI) Insurer and reporting requirements in line with regulatory reporting, market conduct reporting requirements for the portfolio of insurance produc ts