What are the responsibilities and job description for the Senior Specialist - Oversight & Monitoring-1 position at Old Mutual South Africa?
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Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
Purpose:
The Senior Specialist for the Claims (CFR) Oversight and Monitoring Team is responsible for conducting in-depth reviews and assessments of short-term commercial and personal insurance processes. This role involves analyzing complex data and ensuring compliance with regulations and company standards.
Key Responsibilities:
Review Execution
Responsibilities
Financial Management and Control
Track progress against budgets within established finance systems, and report variances to more senior colleagues.
Data Collection and Analysis
Conduct research using primary data sources, and select information needed for the analysis of key themes and trends.
Policies and Procedures Development
Contribute to the drafting of policies, procedures, and related guidelines within an area of expertise to meet defined key principles and ensure compliance with external requirements.
Organizational Risk Management
Ensure the organization is not exposed to undue risks by using risk management systems to achieve specific goals within a designated area of the business.
Risk Scenario Modeling
Analyze and assess the risks associated with products, individual applications, new business areas, and the market to quantify risk and ensure it is within the agreed risk appetite.
Recommendations
Advise others on how to design new processes and systems that meet professional standards.
Insights and Reporting
Contribute to the preparation of various data and analytics reports.
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
Identify, within the team, instances of noncompliance with the organization's policies and procedures and/or relevant regulatory codes and codes of conduct, reporting these instances and escalating issues as appropriate.
Personal Capability Building
Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching; gain or maintain external professional accreditation, where relevant, to improve performance and fulfill personal potential. Maintain an in-depth understanding of technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.
Skills
Action Planning, Analytics Software, Budget Management, Computer Literacy, Data Analysis, Database Reporting, Data Compilation, Data Controls, Data Interpretations, Evaluating Information, Management Reporting, Numerical Aptitude, Report Review, Solution Analysis
Competencies
Business Insight
Communicates Effectively
Courage
Decision Quality
Ensures Accountability
Financial Acumen
Instills Trust
Manages Complexity
Education
NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent
Closing Date
25 March 2025 , 23:59
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
The Old Mutual Story!
Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
Purpose:
The Senior Specialist for the Claims (CFR) Oversight and Monitoring Team is responsible for conducting in-depth reviews and assessments of short-term commercial and personal insurance processes. This role involves analyzing complex data and ensuring compliance with regulations and company standards.
Key Responsibilities:
Review Execution
- Independently plan, execute, and document reviews and assessments.
- Analyze complex insurance processes and identify areas of improvement.
- Ensure reviews are conducted in accordance with industry regulations.
- Review and validate review findings for accuracy and compliance.
- Collaborate with the team leader to implement corrective actions.
- Monitor and report on performance metrics.
- Communicate review results and findings to relevant stakeholders.
- Collaborate with other departments to address process-related issues.
- Stay up-to-date with insurance industry regulations in South Africa.
- Diploma or degree in Audits, Business, Finance, or a related field
- Minimum 2-3 years of experience in insurance industry auditing
- Data analytics tools experience advantageous (SQL, ACL, Python)
- Technical claims and underwriting experience advantageous
- Strong knowledge of South African insurance regulations
- Strong analytical and problem-solving abilities
- Attention to detail and a commitment to accuracy
- Effective communication and interpersonal skills
- Proficiency in audit software and Microsoft Office Suite
Responsibilities
Financial Management and Control
Track progress against budgets within established finance systems, and report variances to more senior colleagues.
Data Collection and Analysis
Conduct research using primary data sources, and select information needed for the analysis of key themes and trends.
Policies and Procedures Development
Contribute to the drafting of policies, procedures, and related guidelines within an area of expertise to meet defined key principles and ensure compliance with external requirements.
Organizational Risk Management
Ensure the organization is not exposed to undue risks by using risk management systems to achieve specific goals within a designated area of the business.
Risk Scenario Modeling
Analyze and assess the risks associated with products, individual applications, new business areas, and the market to quantify risk and ensure it is within the agreed risk appetite.
Recommendations
Advise others on how to design new processes and systems that meet professional standards.
Insights and Reporting
Contribute to the preparation of various data and analytics reports.
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
Identify, within the team, instances of noncompliance with the organization's policies and procedures and/or relevant regulatory codes and codes of conduct, reporting these instances and escalating issues as appropriate.
Personal Capability Building
Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching; gain or maintain external professional accreditation, where relevant, to improve performance and fulfill personal potential. Maintain an in-depth understanding of technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.
Skills
Action Planning, Analytics Software, Budget Management, Computer Literacy, Data Analysis, Database Reporting, Data Compilation, Data Controls, Data Interpretations, Evaluating Information, Management Reporting, Numerical Aptitude, Report Review, Solution Analysis
Competencies
Business Insight
Communicates Effectively
Courage
Decision Quality
Ensures Accountability
Financial Acumen
Instills Trust
Manages Complexity
Education
NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent
Closing Date
25 March 2025 , 23:59
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
The Old Mutual Story!
