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Job Description

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Old Mutual Insure is looking for (x2) Senior Specialist: Outsourced Business Oversight & Monitoring - Audit Team. The role will be based at our Parktown offices and will report to the Manager: Outsourced Business Oversight & Monitoring - Audit Team.

Purpose of the Job

The Senior Specialist for the Oversight & Monitoring Retails Outsourced Business Team will assist the Manager to deliver an integrated & independent first line monitoring function for the outsourced Retail portfolio in order to ensure that risk management, governance & critical control processes are operating effectively.

This role will be responsible for supervising, managing, or directing a team of specialists to ensure adherence to regulatory and company standards applying industry experience and specialised knowledge.The Senior Specialist will also streamline the execution of priorities and analyse data that rely on a specific type of expertise, drive the delivery of assurance services that are designed to add value to business objectives by bringing a systematic, disciplined approach to evaluate & improve the effectiveness of risk management, control, and governance processes

Key Responsibilities

Lead a team of Specialists

Manage the team’s delivery by allocating work according to the complexity of the review.Oversee review processes and ensure the team adequately manages their workloads by setting targets and adjusting priorities according to volume variations.

Review and Assessment Support

Assist in the planning and execution of reviews and assessments.Review and assessment findings to ensure accuracy and compliance.Provide expertise and guidance to team members during reviews.

Stakeholder Engagement

Contribute to stakeholder engagement by identifying stakeholders; finding out their needs, issues, and concerns; and by reacting to their needs, issues, and concerns, arranging meetings and events and drafting supporting materials to promote understanding and commitment.

Delivery of Audit Plan

Manage, deliver or lead a portfolio of audit assignments. to ensure a balance of optimal risk coverage and efficient service delivery through partnership with key stakeholders, including Risk and Compliance, Internal & External Auditors and Regulators Ensure that the team plans and delivers audits that cover identified risk areas, and that appropriate corrective actions are agreed on with auditees.Train and provide guidance to Specialists and resolve issues arising from audits.

Continuous improvement to ensure effective service

Ensure statutory and legislative knowledge is always current to resolve customer complaints, advise the business on corrective solutions to mitigate risks, and improve the customer experience whilst complying with governance requirements.Ensure adherence to organisational policies, practices, and procedures.Identify solutions to enhance cost-effectiveness and increase operational efficiency.Collaborate with the Manager to communicate review and assessment results to stakeholders.Assist in addressing process-related issues and improvements.

Service delivery to ensure customer satisfaction

Maintain service, quality, and desired outputs within a specific functional process by ensuring compliance with tactical policies, procedures, and standards.Establish productive operational relationships with key stakeholders in the various channels and administrative teams.Develop work routines in line with operational plans/schedules to manage the achievement of service delivery goals.Share knowledge on, and participate in the creation of new standards, control systems, and procedures to maintain service delivery.

Compliance and Risk Management

Stay up to date with insurance industry regulations in South Africa.Ensure team members follow review and assessment protocols in compliance with relevant laws and regulations.

Quality people practices

Align own behaviour with the organisation culture and values.Share and transfer product, process, and systems knowledge to colleagues.Ensure achievement of own performance objectives.Actively share information with other team members regarding successes, issues, trends, and ideas.Actively participate in own professional development and career path.Manage the team’s performance.Actively promote a culture of learning and high-performance culture amongst team members.Supervise and guide a team of specialist review and assurance professionals.Assist in setting performance expectations and provide coaching and mentoring.Collaborate with the Manager to maintain a high-performance team culture.

Experience, knowledge & skills required

Diploma or a bachelor's degree in Audit/ Risk and Compliance/ Insurance, or a related field is strongly preferred.Minimum 3 years of experience in insurance industry, auditing, business assurance, risk and compliance, underwriting and claims.Experience in a leadership role advantageousStrong knowledge of South African short term insurance regulation.Claims, underwriting, risk and compliance experience advantageousStrong analytical and problem-solving abilities.Attention to detail and a commitment to accuracy.Effective communication and interpersonal skillsProficiency in audit software and Microsoft Office Suite.Data analysis an added advantage

Establishes and embeds compliance in area of responsibility. Ensures compliance within area by implementation of compliance risk management and monitoring plan. Reports on compliance breaches to line management and Senior Compliance Officer/Compliance Executive. Facilitates resolution of compliance breaches. Assists in mitigation of compliance risk. Utilises limited legislation, and impact of legislation on the BU/functional area is limited."

Responsibilities

Regulatory and Compliance Management

Investigate all kinds of incidents and reports and provide expert advice to more senior colleagues. Minimize risk exposures and ensure adherence with regulatory standards by working with all internal functions to make sure compliance programs are properly implemented.

Regulatory Affairs

Take responsibility for managing and delivering a designated work program.

Quality Management System

Contribute to the identification and evaluation of current policies and business processes that are in the scope of the quality management system (QMS); contribute to the design of the QMS; provide specialist quality management input to the drafting of new policies and procedures and the design of business processes; contribute to the quantification of the costs and business benefits of change.

Audit Compliance

Manage a portfolio of audit assignments. Ensure that the team plans and delivers audits that cover identified risk areas, and that appropriate corrective actions are agreed on with auditees. Resolve issues arising from audits and refer serious or contentious issues to the audit program leader.

Stakeholder Engagement

Contribute to stakeholder engagement by identifying stakeholders; by finding out their needs, issues, and concerns; and by reacting to these needs, issues, and concerns, arranging meetings and events and drafting supporting materials to promote understanding and commitment.

Policy Development and Implementation

Work within established procedures to achieve specified goals.

Organizational Capability Building

Provide coaching to team members to develop their skills.

Information and Business Advice

Resolve queries from internal or external customers or suppliers by providing information on complex processes and the related policies, referring issues to others where necessary for interpretation of policy.

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.

Skills

Compliance Software, Data Compilation, Engineering Standards, Legal Practices, Management Reporting, Oral Communications, Policies & Procedures, Presenting Solutions, Professional Presentation, QA Methodologies, Regulatory Compliance Management, Requirements Development

Competencies

Action OrientedBalances StakeholdersFinancial AcumenInstills TrustInterpersonal SavvyManages ComplexityOptimizes Work ProcessesPersuades

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent (Required)

Closing Date

10 April 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.

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