Underwriter (Trade Credit/Reinsurance)

About the position

The purpose of this role is to underwrite short-term insurance applications. An incumbent of this role will also be responsible to act on behalf of the Senior Underwriter - STI Unit, to be coached and mentored by Senior Underwriter and/or Head of Short-term Underwriting Unit, to mentor and junior staff as may be required.

KEY ACCOUNTABILITIES, MEASURES & INTERFACES

• Analyse and Interpret financial statements;
• Process and sensitize financial models;
• Engage with credit report writers to obtain credit reports;
• Conduct desktop and field due diligence, where applicable, that includes reviewing contracts, financial documents, amongst others;
• Engage the deal team to process of coordinating the visits, required information relating to the transaction, negotiate the structure of the transactions, assessing of commercial terms in the financial documents, application and other related documents to reach financial close;
• Evaluate information to determine level of risks in relation to the cover being assessed to support the transactions that meet the company mandate and credit requirements;
• Prepare and collate the high quality submissions of transactions to be presented to company approval committees i.e., Project EXCO, FIIC Committee and/or Board;
• Present and support transactions to Project EXCO;
• Develop and maintain relationships withing the organisation, exporters, lenders, short-term trade insurers and reinsurers, other ECA's and other institutions involved in the export business;
• Assist in identifying new business opportunities for company in collaboration with the business development team;
• Conduct the assessment of technical, commercial feasibility, financial and credit worthiness of the transactions with some level of understanding of environmental and social aspects, (including underwriting criteria, governance issues such as anti-bribery, sanctionable entities, etc., in line with the policies of the corporation);
• Assess the degree and types of commercial and non-commercial risks likely to be involved in an investment and determine whether these risks should be covered and under what terms and conditions.
• Keep abreast of approved transactions as well as the transactions progress post cover.
• Assist in carrying out the corporate strategic plan, and the business goals of the STI Underwriting unit as measures against the performance evaluation process
• Work in collaboration with other business units, such as Risk, Business Development Unit, Portfolio Unit, PEAR Unit, Actuarial Unit, Legal Services Unit, etc., and coordinate the team in the assessment of transactions and ensure their input is incorporated when compiling the transaction submission.
• Provide support for negotiation of transactions, structuring and review of commercial terms in the finance documents, security documents and other related documents;
• Manage risks and/or compliance issues within the unit in accordance with company compliance and risk management strategy;
• Assist in managing the Short-term Business Unit Portfolio;
• Keep abreast of evolving short-term trade insurance and other relevant regulations.

Key Measures

• Increased good quality underwriting activities for the corporation and achieve relevant targets.
• Increased repetitive business and value and number of transactions approved
• Management of client relationships and key stakeholders.

Key Interfaces

• Senior Underwriter - STI
• Head of the STI Unit
• CEO and COO
• Other business units particularly Risk Unit, Underwriting Unit, Business Development Unit, Portfolio Management Unit, PEAR Unit, Actuarial Unit, Legal Services Unit, etc.
• company Executives and Managers.
• Lenders and Investors.
• Exporters.
• Other Export credit agencies

QUALIFICATIONS & EXPERIENCE

• A Bachelor's degree with specialisation in Accounting, Financial Accounting, Finance, Credit Risk Management, Business Administration or relevant fields;
• Minimum 5 years' relevant experience in short-term trade insurance and/or reinsurance, commercial and /or political risk underwriting or risk management.
• Basic knowledge of international business, contractual, corporate and financial practices and accounting.
• Financial Advisory and Intermediary Services (FAIS qualification) will be an added advantage"

Desired Skills:

• Underwriting

About The Employer:

Join a well established company in the insurance industry based in Centurion.