ABOUT THE COMPANY
1LIFE is the holding company of some of South Africa’s leading financial service providers. Our portfolio includes short-term insurers, a long-term insurer, health insurance as well as an insurance and personal finance comparison platform. We’re pioneers with a hunger for best, bringing customer-focused innovation and service excellence to the financial services industry. We’re an undivided team of diverse thinkers and doers who believe in leading through technology and pushing past their limits.
JOB PURPOSE
The purpose of the role is to have a dedicated focus on the higher risk areas within 1Life Distribution as well as managing a team of Commission and Risk employees to ensure accurate and efficient support services are provided to the 1Life distribution departments.
RESPONSIBILITIES
Commission Management
Deliver accurate and timely processing of commission and commission debt, and input and maintain commission and debt data, check for accuracy prior to submission, prepare complex manual payments when required, complete financial reconciliation.
Data Collection and Analysis
Use data from a wide range of sources to analyze key themes and identify possible impacts on the business.
Risk Management and Analysis
Manage a significant portion of the organisation risk management and or control process. Monitor and track performance on initiatives that have been implemented and ensure alignment between various stakeholders.
Administration
Work on approved commission and administrative processes and databases to calculate and monitor commissions and incentives. Manage all commissions for the 1Life distribution and third party distribution sales commission departments. Design commission models that relates to exporting data, importing it into model, run validation checks on accuracy. Responsible for internal and external partner commission statements for distribution channels.
Document and Data Management
Create and ensure compliance with a company wide document management system. Manage process regarding submissions and approval, track and ensure accuracy of documented processes. Uploading of supervision and all other documentation uploading. Track and management of incentives. When required, keep track of business logs that have an implication on commission outcome.
Operational Compliance
Monitor and review performance and behaviors within area of responsibility to identify and resolve non-compliance with the organisation's policies and relevant regulatory codes and codes of conduct. Manage transgressions.
Insights and Reporting
Contribute to the design and creation of reporting strategies and templates. Identify and interpret patterns and trends, and present findings to relevant stakeholders. Provide assistance with any ad hoc reporting that leads to any material loss or gain.
Building Capability
Work within existing development framework to build own capabilities and those of direct reports. Provide specialised training or coaching to others throughout the organisation in area of expertise.Onboarding and setup of new starters.
Performance Management
Respond to personal objectives and use performance management systems to improve personal performance. Monitor the performance of the team; allocate work and review completion, take appropriate corrective action to ensure timeliness and quality; contribute to formal individual performance management and appraisal.
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 understanding of relevant technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.
Leadership and Direction
Explain the local action plan to support team members in their understanding of what needs to be done and how this relates to the broader business plan and the organisation's strategy, mission and vision; motivate people to achieve local business goals.
BEHAVIORAL COMPETENCIES
Ensures Accountability
Holds self and others accountable to meet commitments. For example, measures and tracks team's and own performance, and helps the team learn from success, failure, and feedback. Adheres to, and enforces, goals, policies, and procedures.
Directs Work
Provides direction, delegating, and removing obstacles to get work done. For example, asks questions to understand the desired outcomes for the role; confirms accountabilities with others so that work can be done effectively and efficiently; informs stakeholders when there are delays or problems that will affect them.
Drives Results
Consistently achieves results, even under tough circumstances. For example, emphasizes the importance of results; encourages a sense of urgency in others; challenges poor outcomes or unproductive behaviors. Provides assistance or encouragement to help others over obstacles.
Plans and Aligns
Plans and prioritizes work to meet commitments aligned with organizational goals. For example, strengthens alignment and coordination between own work and others', providing well-sequenced activities and exact time frames. Foresees and resolves many potential bottlenecks and delays.
Optimises Work Processes
Knows the most effective and efficient processes to get things done, with a focus on continuous improvement. For example, pays close attention to a variety of metrics and benchmarks; determines both major and subtle ways to optimize processes. Swiftly resolves process breakdowns; takes steps to ensure that problems do not recur.
Manages Complexity
Makes sense of complex, high quantity, and sometimes contradictory information to effectively solve problems. For example, consistently looks at complex issues from many angles; obtains a rich and deep understanding; swiftly cuts to the core issue; skillfully separates root causes from symptoms.
Communicates Effectively
Develops and delivers multi-mode communications that convey a clear understanding of the unique needs of different audiences. For example, tailors communication content and style to the needs of others. Pays attention to others' input and perspectives, asks questions, and summarizes to confirm understanding.
Collaborates
Builds partnerships and works collaboratively with others to meet shared objectives. For example, encourages coworkers and external partners to work together as a team, and makes sure they get credit for doing so. Encourages people to share their honest views, responds in a non-defensive way when they do.
Instills Trust
Gains the confidence and trust of others through honesty, integrity, and authenticity. For example, models honesty and authenticity and encourages others to be up front with one another. Demonstrates reliability and places a strong emphasis on the team meeting its commitments. Fairly represents others' positions.
Being Resilient
Rebounds from setbacks and adversity when facing difficult situations. For example, shows great composure, a positive attitude, and strong judgment, even in adverse situations; gains maturity and wisdom and shares life lessons with others. Responds resourcefully to crises, helps others remain productive and positive.
Courage
Steps up to address difficult issues, saying what needs to be said. For example, addresses tough organizational issues and disagreements in a direct manner; guides others on how to stand up for their beliefs in the face of adversity. Can push back and say "no" when needed.
SKILLS
Computer and System skills
Independently supports business processes with comprehensive understanding and the effective use of standard office equipment and standard software packages, and provide guidance and training to others. Microsoft Office
Verbal and Written Communication
Applies comprehensive knowledge to act independently while providing guidance and training to others on using clear and effective verbal communications skills to express ideas, request actions and formulate plans or policies.
Policy and Regulation
Work independently and provide technical guidance when required on how to interpret and apply knowledge of laws, regulations and policies in area of expertise.
Financial analysis
Applies comprehensive knowledge / skill, acts with independence and provides guidance and training to others
Policy and procedures
Provide technical guidance when required to monitor, interpret and understand policies and procedures, while making sure they match organisational strategies and objectives.
Action Planning
Provide technical guidance when required to develop appropriate plans or perform necessary actions based on recommendations and requirements.
Planning and Organising
Plan, organise, prioritise and oversee activities to efficiently meet business objectives. Provide technical guidance when required.
Attention to Detail
Apply comprehensive knowledge / skill, and provide guidance and training to others on how to pay close attention to details.
Data Collection and Analysis
Works independently and provides guidance and training to others on analysing data trends for use in reports to help guide decision making.
Presentation skills
Uses comprehensive knowledge and skills to communicate with other people independently while providing guidance and training to others on speaking in a clear, concise and compelling manner.
Risk Management
Uses comprehensive knowledge and/or skills to act independently while providing guidance and training to others on identifying, assessing, prioritising and managing risks.
Stakeholder Management
Support in the management of relationships with the relevant stakeholders.
EDUCATION
General Education
Grade 12/ SAQA Accredited Equivalent (Essential)
Required FAIS Accreditation (Advantageous)
Relevant 3-year Business Management or insurance industry related degree / diploma in management (Advantageous)
Wealth Management Qualification (Advantageous)
EXPERIENCE
General Experience
5 or More years' experience within a financial services industry
Experience and knowledge of the Long-term insurance Industry (Essential);
5 or more experience in commissions debt management and administration (Essential)
Managerial Experience
1 - 2 years’ experience in managing others (Essential)
ADDITIONAL INFORMATION
*SAQA Accredited Equivalent - it is the onus of the applicant to provide TIH and its subsidiaries with certified evidence that their qualification(s) meet the equivalent NQF level required for this role at time of application. *Financial Sector Conduct Authority (FSCA) competency requirements: FAIS recognised qualifications / Regulatory Examinations / Class of Business Certification and / or CPD according to your DOFA (where applicable). As a registered Financial Service Provider, we are mandated to ensure that all our representatives are and remain fit and proper at all times. By applying for this role, you consent to having your relevant qualification and or accreditation or confirm that you are working towards meeting the competency requirements. You further consent to the relevant information being verified