G4S Head of Insurance, Planning and Compliance Jobs in South Africa
G4S Head of Insurance, Planning and Compliance Jobs in South Africa
G4S Cash Solutions (SA), a leading provider of integrated cash management solutions, has a vacancy for a Head of Insurance, Planning and Compliance, based at our Head Office in Centurion.
Main Purpose of Position:
This role is responsible for the development, implementation and embedding of a “best in class” integrated supply chain approach in the business along with overall responsibility for the achievement of the Insurance business unit strategic goals.
Activities include recycling of cash business scenarios to optimize the SA Cash ecosystem and enable the availability of cash for customers (Just in Time) and oversight of the Insurance business (Risk management, compliance and claims management)
Role Responsibility:
Effective management of overall operations & financial performance
Insurance
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 an 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 and revenue growth
Insurance, underwriting and reinsurance optimization of costs and cover
Commercial modeling 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 benchmarking
Cash Recycling
Identify and achieve new revenue-generating opportunities - Reduction of fixed and variable costs / % improvement
PBITA improvement/budget achievement - Escalations achieved against budget
Overhead cost control
Manage cash flow - Improve effective usage of liquidity
Quality of Service - Ensure discipline achieves a satisfactory or better Audit rating ensuring a correction plan is in place and implemented if required. Streamlining of business processes to minimize waste and duplication and enhanced efficiencies
Identify key industry trends and market trends
Identify long term priorities and ensure resourcing is adequate to achieve objectives
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.
Cash Planning
Research and recommend the implementation of planning process techniques aligned with best practices
Align cash supply chain processes to best practice
Sustainability of business performance to be supported by effective, efficient and flexible processes
Eliminate and reduce waste from supply chain operations
Develop, implement and facilitate KPI scorecard for Cash Operations
Improve key KPI’s through regular reviews meeting that aims to address gaps
Effective management and development of staff and support to regional teams
Ensure compliance in that all sales staff has successfully completed the FSB representative regulatory exams
Effective organization and employee development
Organizational structure fully staffed
Staff turnover analysis, proper allocation of
staff to positions and structure.
Set and agree on objectives and performance standards with the management team and ensure cascading through the organization as appropriate
Monitor performance and provide feedback
Succession Planning in place, updated and practiced
Determine training needs for direct reports (in line with training and HR policy). Arrange for attendance of subordinates at scheduled training interventions and coach staff as needed
In conjunction with the National Operations Training Manager, ensure operations training is sufficient and effective
Leadership
Set and maintain acceptable standards of behavior at work by all subordinate employees, as required by G4S’s code of conduct and disciplinary code.
Ensure that all disciplinary actions are conducted in compliance with Company policies and procedures.
Hold management team meetings and communicate to all regional operations director and their staff through those briefings
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 the 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 programs
Comply with safety policies and procedures at the workplace
Distribute safety information as and when required
Qualification and Experience
Relevant qualification essential - BCom or equivalent recommended
Completed relevant regulatory exams in terms of the FAIS Act successfully and 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) will be advantageous
Knowledge of the Twin Peaks approach to regulation and the responsibilities to the SARB and FSCA (previously FSB)
Exposure to Consumer Protection Act ambit and exemptions, Treating Customers Fairly, the Protection of Personal Information Act, the workings of the Insurance Ombudsman procedures, etc.
Working knowledge of the industry structures and players
3-5 years of relevant management experience
Minimum 5-10 years’ experience in a cash planning environment recommended.
Experience within a large national or multinational organization
Relevant experience in a Cash Operations entity will be highly advantageous
Skills and Attributes
Sound marketing ability, including 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.
Excellent communication, 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
Shaping the market environment
Setting strategic direction
Simplifying the complex
Creating change and innovation
Driving superior performance
Focusing on the customer
Engaging, inspiring and developing people
Leading with professionalism and integrity
Working collaboratively
How to Apply
For more information and job application details, see; G4S Head of Insurance, Planning and Compliance Jobs in South Africa
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