Job Openings at Britam

Job Purpose:

• The role will be responsible for assessing the effectiveness and efficiency of financial operations and controls, reliability of financial reporting, and compliance with applicable laws and regulations. The role will be responsible for reviewing and monitoring internal controls, financial operations compliance audits, monitoring financial operations and controls, and identifying and addressing any control gaps.
• Enhance the revenue assurance function for all revenue products (recurring & ad hoc), including identification and prevention of revenue leakage activities, evaluation of controls coverage, gap analysis, expansion of controls across systems and products, and promote a continuous improvement culture across all revenue assurance activities.

Key responsibilities:

Financial Operations Controls Assurance:

• Collaborate with Corporate and Retail Chief Finance Officers to prioritize legacy financial operations, financial controls and compliance areas to address and refine.
• Ensure the scope of all projects aligns with the allocated budget and that stakeholders complete each phase of the project within the scheduled timeline.
• Develop a detailed work plan which identifies, and sequences activities and resources required to successfully complete a project.
• Collaborate with finance department heads on the development of IT business requirements and monitor projects implementation.
• Identification and addressing of legacy financial problems within Retail, Corporate, Britam Asset Managers (BAM), Alternatives and International.
• Examine and evaluate the adequacy and effectiveness of the company’s system of internal control and the quality of performance in carrying out assigned responsibilities.
• Prepare periodic reports to management and, as appropriate, to the audit committees providing information on the status and results of the audit plan on the legacy and financial operations projects. 
• Prepare periodic reports for management and, as appropriate, for the audit committee on significant issues related to internal control processes to ensure that these processes are appropriate for the current and evolving business environment and to provide information concerning such issues through resolution.
• Ensure quality control over financial transactions and financial reporting.
• Develop and document business processes and accounting policies to maintain and strengthen internal controls.
• Monitor, manage and report on the progress of projects and identify control gaps, and address them.
• Lead in implementation of standardised finance operations and processes across the Group.
• Monitor implementation of audit recommendations/ closure of audit exceptions within agreed timelines.
• Continuous review and monitoring of ledger balances integrity with a view to address long outstanding items, legacy incidences, identifying process gaps and closure of the same.

Revenue assurance and cost efficiency:

• Embed and then be accountable for the process, including the design and execution of projects to deliver new capabilities, which facilitates the systematic revenue recovery and cost-saving across all revenue products through the establishment and performance of revenue leakage controls/cost assurance controls through the end-to-end order to cash process.
• To lead a risk-based approach to revenue assurance across all of Britam’s revenue streams which constantly adapts to changing business processes and priorities.
• Lead the design and development of both recurring and ad hoc revenue assurance reviews and processes to address changing risk profiles, systems evolution both inside and outside Finance or high visibility revenue streams.
• Driving profitability and added value for Britam by seeking and identifying revenue enhancement opportunities as part of both recurring and ad hoc reviews.
• Reduce revenue leakage and costs by ensuring controls are automated wherever possible.
• Raise the awareness and profile of Revenue Assurance within the business by working effectively across teams and with key stakeholders in driving the end-to-end best practice model for Revenue Assurance.
• Accountable for the overall assessment and continuous improvement of Britam’s business practices, processes, and controls with respect to revenue protection.
• Working closely with the Finance team including CFOs and other stakeholders, ensure effective revenue assurance processes and controls are built into new products, services and processes wherever reasonably justified.
• Setting standards across Britam group on Revenue Assurance activities to achieve revenue maximization and high data integrity and processes.
  Champion a high-performance culture and continuous improvement mind set.
• Any other financial and operations assurance matters that require input and resolution with the business leaders in consultation with the Finance Director and Finance Heads of Departments.

Key Performance Measures:

• Operational efficiency and effectiveness measures.
• Cost savings on budget.
• Reconciliation preparation and review.
• Revenue findings/enhancement opportunities.
• Cost assurance findings/enhancement opportunities.
• Reduction in revenue leakage.
• Continuous improvement benefits achieved.

Knowledge, experience and qualifications required:

• University Degree in Business related field.
• Internal Audit experience in the industry.
• Professional accounting qualification such as CPAK or ACCA.
• Membership of accounting professional body.

Technical/ Functional competencies:

• Knowledge of internal audit procedure.
• Report writing-ability to develop reports.
• Decision making – ability to make strategic decisions in a timely and effective manner.
• High moral and ethical standing.
• Highly motivated.

Leadership category responsibility framework (Core Competencies):

Change Leaders in Britam need to:

• Strategically lead a function to service customers from a sustainable and growing customer base whilst increasing profit.
• Continuously configure and adapt the functional area to most effective suite the future view of the business.
• Introduce new concepts so that they are adopted appropriately at the right time (manage the rate of change).
• Be in touch with the changing industry, customer needs and international best practice. 
• Improve the efficiency of the function by appropriately challenging managers about operational and tactical issues.
• Ensure the function has the most appropriate people capability through effective inspirational leadership, people development, and optimized succession planning.
• Ensure clarity of expectations for individuals in the function and other stakeholders across the group.
• Facilitate functional integration.
• Ensure the development and establishment of appropriate behaviour and values (culture) within the function that aligns with the strategic direction and values of the business. 
• Coordinate between functions and divisions to ensure optimization of the value chain and resources.
• Ensure alignment of strategy, objectives and deliverables within the function.
• Develop innovative partnerships and distribution channels to increase Britam’s market penetration.
• Ensure a seamless experience for clients.
• Appropriately allocate funds and capital to maximize shareholder value.
• Adequately manage operational risk.
• Increase operational efficiency.
• Provide access to accurate and consistent information and services across all channels.
• Improve quality and speed of decision-making across the business.

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Job Purpose:

The job holder will be responsible to driving profitable growth in critical P&D Business Segment through operational excellence and partner’s relationship management.

Key responsibilities:

• Lead the Operations team within P&D to achieve set KPIs and ensure performance management as per the HR process.
• Design and implement operational efficiency processes to drive seamless partner experience to deliver client expectations in a timely manner.
• Delivers a sustained profitability via prudent underwriting for a profitable portfolio of products.
• Manage all P&D partners in terms of business contracting & timely commissions pay out, quarterly business performance reviews and recommend areas of improvement. 
• Prepare segments business performance reports on a weekly, monthly, and quarterly basis.
• Put in place standards for interdepartmental service level agreements that will improve the company’s service ratings such as claims TAT and reconciliations 
• Continuous improvement on process mapping such as on boarding, Retention and Servicing expectations touch points.
• Investigate and define the regulatory framework to support growth of partnership strategy.
• Good decision making to ensure operations in underwriting, claims, customer service and IT are well delivered within the agreed upon SLAs.
• Ensure all business in the P&D is booked and debited in a timely fashion.
• Manage key relationships with internal stakeholders to ensure operational effectiveness and reduce costs.
• Participate in the development and preparation of short-term and long-range plans and budgets based on broad organization goals and objectives.
• Ensure business retention targets are achieved through proactive partner engagement throughout the scheme’s lifetime.
• Monitor and report claims from the partners and prepare required exceptional claims approvals for the segment lead.
• Assists in the development and repositioning of product strategies.
• Takes personal responsibility for coaching and mentoring others.
• Collaborating with other business segments, revamp P&D customer journeys to deliver on SLA’s, charters and promises/expectations
• Delegated Authority:  As per the approved Delegated Authority Matrix.

Key Performance Measures:

• Revenue.
• Builds and maintains relationships with partners.
• Customer retention. 
• Efficiency & Automation of critical processes in underwriting and claims.
• Partner TATs & NPS.
• Business profitability.
• Segment compliance with regulatory bodies.
• SLA Adherence.

Knowledge, experience, and qualifications required:

• Bachelor’s degree in actuarial Science. Masters’ Degree is an added advantage.
• 7- 10 years’ experience in a Financial Institution, 3-4 of which should have been in a Senior underwriting role.
• Experience in Underwriting, Operations, Financial reporting, and Business development. 
• Significant experience in stakeholder management and working with internal teams & external partners to ensure business strategies are achieved. 
• Knowledge of insurance regulatory requirements.
• Knowledge of General & Life insurance products.

Leadership category responsibility framework (Core Competencies):

Change Leaders in Britam need to:

• Strategically lead a function to service customers from a sustainable and growing customer base whilst increasing profit.
• Continuously configure and adapt the functional area to most effectively suite the future view of the business.
• Introduce new concepts so that they are adopted appropriately at the right time (manage the rate of change).
• Be in touch with the changing industry, customer needs and international best practice. 
• Improve the efficiency of the function by appropriately challenging managers about operational and tactical issues. 
• Ensure the function has the most appropriate people capability through effective inspirational leadership, people development, and optimized succession planning. 
• Ensure clarity of expectations for individuals in the function and other stakeholders across the group.
• Facilitate functional integration. 
• Ensure the development and establishment of appropriate behaviour and values (culture) within the function that aligns with the strategic direction and values of the business.
• Co-ordinate between functions and divisions to ensure optimization of the value chain and resources. 
• Ensure alignment of strategy, objectives, and deliverables within the function.
• Develop innovative partnerships and distribution channels to increase Britam’s market penetration.
• Ensure a seamless experience for clients.
• Appropriately allocate funds and capital to maximize shareholder value.
• Adequately manage operational risk.
• Increase operational efficiency. 
• Provide access to accurate and consistent information and services across all channels.
• Improve quality and speed of decision making across the business.

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Job Purpose:    

The role holder will be responsible for the processing and payment of general insurance claims.

Key responsibilities:

• Review documents and pertinent requirements regarding an insurance claim.
• Ensure that the insurance claim made by the claimant is complete in form and complies with the documentary requirements of an insurance claim for non-motor.
• Advice claimants regarding basic matters about their insurance coverage in relation to the insurance claim.
• Respond to both internal and external claims inquiries concerning benefits, claims process, service providers, and the filing/completion of proper forms.
• Record all claims transactions including appointment of Loss Adjusters, investigators and surveyors.
• Prepare claims registers for claims meetings and update the various claims reports.
• Prepare initial claim letter and mail to insured, along with appropriate forms for completion.
• Track and follow up on receipt of necessary forms/documents.
• Delegated Authority:  As per the approved Delegated Authority Matrix as per SODA.
• Process payments to insured’s and service providers as per SLA.
• Maintain adequate initial reserves as per reserve guidelines and participate in the monthly, quarterly and annual reserves reviews.
• Ensure that claims, appointment and payments are processed within the set TATs and files duly updated.
• Ensure that initial demand letter is prepared, sent out on all recovery matters and recovery register updated.
• Prompt settlement of invoices and negotiation with service providers to realize Savings as per set targets.
• Record and update all required registers or company data across all necessary system. 
• Initiate, pursue recover under motor, XOL, FacRe or any other recovery.
• Adhere to claims manual procedures and process.  
• Perform any other duties as may be assigned from time to time.

Knowledge, experience and qualifications required:

• Bachelors of degree or commerce (insurance option preferred).
• Progress in professional qualification in Insurance (ACII, FLMI or AIIK).
• 2-3 years’ experience in insurance claims processing.
• Knowledge and experience in the insurance sector.

Technical/ Functional competencies:

• Knowledge of insurance regulatory requirements.
• Knowledge of insurance products.
• Sales and marketing management skills.