Insurance Cell Captive Support Manager

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

Job Description

• Operationalisation and readiness for go-live of new cells  

• Co-ordinate and work with legal and the relevant subject matter experts (SMEs) to compile and finalise legal contracts as required. 
• Co-ordinate interactions with client and sme’s as required. 
• Draft of processes where required for new cells.  

• Facilitate and support BDE with the on-boarding of new Cell captives. 

• Load clients and suppliers on Coupa and facilitate the on-boarding process. 
• Ensure Intermediary checks are completed for all new cell captives and co-ordinate the finalisation and signature of relevant contracting. 
• Co-ordinate and manage the implementation of the FIC processes between the client and the Absa FIC teams. 
• Liaise with actuarial department with regards to capital requirement as calculations. 
• Liaise with Company secretariate regarding the issue of share certificates for new cell captives. 
• Liaise with compliance with regards to the preparation of notifications with all relevant annexures to be sent to FSCA and PA.  
• Support BDE to manage the transition from another underwriter to ARTIC (where cell is with current carrier) 
• Ensure all policy wordings disclosures are updated to reflect ARTIC and relevant contact details as required by regulation. 
• Facilitate the review and approve all marketing material. 
• Facilitate the opening of cell SAP accounts with the finance team. 
• Follow up with Finance team to open of relevant bank and investment accounts. 
• Facilitate the opening of the cell investment account and bank account via the finance team. 
• Support the process to set up the premium receipt and claims payment accounts with the bank. 
• Set up premium receipting (Debit order) process – bank process BI online.  
• If debit orders are applicable / required for the cell – ensure the CASA process is set up for the BI online debit order process. 
• Support BDE to close out on first time events (FTE’s) after cell go live. 
• Facilitate the finalisation and approval of the cell complaints processes. 
• Assist BDE and engage with Absa Marketing to ensure communications to the organisation is made with regards to the new additional cell. 
• Support BDE with relevant communication documents as required from time to time. 

• Maintenance and relationship management of cells  

• Support BDE in the servicing of cells as these are operationalised. 
• Schedule Monthly cell management meetings and assist in compiling the relevant documentation for the set agenda covering monthly performance that including: 
• Profitability 
• Loss ratio trends 
• Claims including detail consideration to problem claims as applicable 
• Complaints – including route cause analysis of Ombud complaints 
• Training with regards to regulatory changes 
• Risk management programs and heatmap considerations as applicable 
• QA report - item follow-ups / progress 
• Capital requirements – SCR updates as applicable 
• Any dividend considerations 
• Strategic items as required (new products / distribution platforms etc.) 
• Schedule and compile documents for the Quarterly / half yearly Board meetings as required covering: 
• Profitability 
• Loss ratio trends 
• Claims including detail consideration to problem claims as applicable 
• Complaints – including route cause analysis of Ombud complaints 
• Training with regards to regulatory changes 
• Risk management programs and heatmap considerations as applicable 
• QA report - item follow-ups / progress 
• Capital requirements – SCR updates as applicable 
• Any dividend considerations 
• Reinsurance review / evaluations where applicable. 
• Strategic items as required (new products / distribution platforms etc.) 
• Support BDE with relationship management with clients and internal stakeholders 
• Support the development of management reports for the cell captives with MI teams for monthly and quarterly reporting and trend analysis 
• Support BDE with all information requests from the regulator as and when required inclusive of CBR returns and timeously report to the regulator. 

• Governance   

• Facilitate the follow up and solving of queries between ARTIC complaints department and the cell as they relate to any complaints received regarding any of the cells. 
• Support BDE in solving operational challenges in the implementation of the cell captives as it pertains to governance and risk issues. 

• Internal Marketing and Cross-Selling:  

• Assist with the marketing efforts of promoting ARTIC both internally and externally at events as required.  

• Board Reports, Management and other reporting 

• Assist BDE to prepare cell captive reporting for relevant cell management interactions with the client such as monthly review meetings and six monthly Board meetings. 
• Facilitate and assist in preparing reports on the progress of the cells for internal management reporting. 
• Prepare and analyse data for each cell as required for reporting purposes. 
• Assist BDE to prepare input to Cell board reports covering: 
• Capitalisations 
• New business 
• Trends 
• Marketing activities 
• Risks 
• Compliance 
• Assist in preparing any ad-hoc reporting  
• Do research as applicable and support the preparation of annual strategy session documentation 
• Follow up and obtain the cell contributions for STP and MTP cycles.  
• Support BDE to compile Board reports to be reviewed by relevant reviewers at least three days prior to the submission date for Board meetings. 

Education

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised