Head of Insurance - G4S Cash Solutions

G4S Insurance has a vacancy for a Head of Insurance based in Centurion. Reporting to the Finance Director, the Head of Insurance is responsible for providing leadership and direction for achieving the G4S insurance strategic goals.  

The successful incumbent is a self-starter with a proven track record in maintaining company policy, adopting best practices, and is able to exercise sound judgment in the pursuit of the achievement of the goals of the organisation, and understanding the role which the Head of Insurance plays within a successful business unit. The incumbent will be expected to be results driven and to live the values of the organisation.

ROLE RESPONSIBILITY:

Main Purpose of Position:

The incumbent is responsible for providing leadership and direction for achieving the G4S Insurance strategic goals. This would include the achievement of financial growth of the business, business development, oversight with regard to regulatory compliance including claims management and optimization of costs with regard to insurance coverage.

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Key Performance Areas:

Effective management of overall operations & financial performance

• Provide strategic direction and input to the business
• Identify and initiate strategies that will add growth to the business to ensure its long term profitability and survival
• To plan, prepare and monitor the business plan and budget so as to maximize profitability
• Direct, formulate and / or approve policies and procedures on service quality, pricing and customer relations
• Direct the company towards providing and effective efficient and profitable service
• Ensure business compliance with various financial and insurance regulatory bodies, inclusive of Company policies and procedures.
• Manage the relationship between actual results, budgets and forecasts
• Manage cost saving initiatives
• Manage revenue growth
• Insurance, underwriting and reinsurance optimization of costs and cover.

Management and development of Customer Focus/relationships

• The development of customer relationships by providing advice on cover & insurance needs.
• The generation of new business through building a customer base and increase revenue in relevant insurance sectors.

Development and implementation of Commercial Strategy

• Commercial modelling of product range and costing.
• Development and sourcing of new short-term insurance products.
• Project management and support of RFI for brokers, including cover, policy renewals and bench-marking.

Claims and administration management

• Management of claims processing in line with contractual and commercial obligations.
• Management of administrative obligations with regards to the documentation and processing of policies, schedules, legal notices and quotations.
• Implement policy and claims management system

Effective management and development of staff

• To maintain close contact with the workforce through key Functional Direct reports to ensure feedback opportunities, the maintenance of good morale and a high standard of staff integrity and honesty.
• To formulate and / or approve wage increases
• Effective management of subordinate personnel in terms of
• Performance assessment
• Skills development
• Career path planning and succession planning
• Ensure compliance in that all sales staff having successfully completed the FSB representative regulatory exams.

Health and Safety

• Participate in the design/ development/ review/ implementation and monitoring of the branch/region/national safety plans for each year.
• Participate in safety forums created by company for example safety meetings and safety talks
• Report all safety incidents to the relevant people
• Discuss all safety incidents on all levels
• Follow-up on any activities assigned through safety meeting/committee/representative/management
• Attend safety education and refresher programmes
• Comply with safety policies and procedures at workplace
• Distribute safety information as and when required

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THE IDEAL CANDIDATE:

Minimum Requirements:

• Grade 12
• Relevant Degree
• Honours Degree is preferable
• Minimum of 5 years Commercial experience - short term (non life)
• Must have completed all relevant regulatory exams in terms of the FAIS Act successfully and be a registered Key Individual in the required business lines (or currently a registered Representative in the required business lines and the ability to become a registered Key Individual quickly).
• In-depth knowledge of Short Term Insurance Act and other applicable legislation e.g. Financial Intelligence Centre Act
•  Knowledge of the Twin Peaks approach to regulation and the responsibilities to the SARB and FSCA (previously FSB)
• In-depth knowledge of consumer protection legislation such as Consumer Protection Act ambit and exemptions, Treating Customers Fairly, the Protection of Personal Information Act, the workings of the Insurance Ombud procedures, etc. 
• Sound marketing ability, should include experience in developing an insurance marketing and distribution strategy.
• Sound financial acumen: costing products as a requirement should include experience in managing the capital structure of a short term insurer, and efficient capital structuring options.
• Working knowledge of the industry structures and players, e.g. Underwriting Manager Agreements, and how these may be relevant to the business's strategic objectives.   
• 3-5 years of relevant Management experience
• Experience within a corporate entity or multinational and the relevant reporting in this environment would be advantageous
• Excellent communication (written and verbal), interpersonal, marketing and negotiation skills
• Flexible with the ability to adapt to the changing needs of an international organization
• Good strategic thinking, effective communication as well as strong leadership skills and capabilities essential
• All business transactions, communication and problem resolutions activities are conducted with the highest integrity

Leadership Competencies:

• Shaping the market environment
• Setting strategic direction
• Creating change and innovation
• Simplifying the complex
• Leading with professionalism & integrity
• Focusing on the customer
• Working collaboratively