[Hiring] Junior Underwriter @Export Credit Insurance Corporation of SA SOC

Role Description

The purpose of this role is to assist with the underwriting of short-term insurance applications. An incumbent of this role will also be coached and mentored by the Underwriter and/or Senior Underwriter and/or Head of Short-term Underwriting Unit as may be required.

Key Accountabilities

• Analyse and interpret financial statements for the assessment of transactions.
• Capture financial data into financial models and analyze the outcomes.
• Engage with external credit report writers to obtain credit reports.
• Conduct desktop and field due diligence, including reviewing contracts and financial documents.
• Assist the deal team with coordinating due diligence visits and required information.
• Negotiate the structure of transactions and assess commercial terms in financial documents.
• Evaluate information to determine risk levels in relation to cover being assessed.
• Prepare and collate information for submissions to Project EXCO approval committee.
• Develop and maintain relationships within the Corporation, exporters, lenders, short-term trade insurers, reinsurers, and other institutions involved in the export business.
• Identify new business opportunities for ECIC in collaboration with the business development team.
• Conduct assessments of technical, commercial feasibility, financial and credit worthiness of transactions.
• Assess degree and types of commercial and non-commercial risks involved in investments.
• Assist with the presentation of transactions to Project EXCO for approval when required.
• Keep a record of approved transactions and their progress post cover.
• Carry out the corporate strategic plan and business goals of the STI Underwriting unit.
• Collaborate with other business units, such as Risk, Business Development Unit, Portfolio Unit, PEAR Unit, Actuarial Unit, Legal Services Unit, etc.
• Assist with the negotiation of transactions and review of commercial terms in finance documents.
• Manage risks and compliance issues within the unit in accordance with ECIC compliance and risk management strategy.
• Manage the Short-term Business Unit Portfolio ensuring profitability and sustainable growth.
• Keep abreast of evolving short-term trade insurance and relevant regulations.
• Ensure underwriting decisions comply with the Corporation’s guidelines, risk appetite, and regulatory requirements.
• Provide technical support to brokers and internal teams on risk placements.
• Perform any other reasonable duties and responsibilities as requested by the Head of the STI Unit.

Key Measures

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

Qualifications

• A Bachelor’s degree with specialization in Accounting, Financial Accounting, Finance, Credit Risk Management, Law, Business Administration or relevant fields.
• Minimum 2 years’ 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.

Skills & Abilities

• Ability to identify opportunities and assess transaction feasibility in line with the ECIC’s objectives.
• Adequate analytical skills.
• Ability to comprehensively analyze and interpret financial statements.
• Adequate financial and political risk analysis skills.
• Ability to conduct financial model analysis and reviews under supervision.
• Excellent communication skills in both verbal and written English at all levels.
• Ability to coordinate and manage multiple functions.
• Ability to communicate underwriting concepts to non-specialists.
• Ability to forge relationships with other areas of the business at all levels.
• Adequate aptitude for problem resolution and decision making.
• High degree of integrity.
• Problem-solving skills, able to swiftly identify issues and present creative solutions.
• Strict attention to detail and deadline oriented.
• Willingness to travel.

Behavioural Competencies

• Values: Integrity, accountability, excellence, innovation, and teamwork.
• Problem Solving: Demonstrates basic problem-solving skills and applies proven solutions.
• Business Acumen: Develops and uses a strategy to maximize revenue and profitability.
• Delivery: Translates business objectives into practical, prioritized action plans.
• Conflict Resolution: Identifies and pushes for solutions beneficial to all parties.
• Team Participation: Offers relevant input to team discussions and solutions.
• Flexibility: Available to work more than ordinary business hours.