PURPOSE OF THIS ROLE
The purpose of this role is to primarily underwrite short-term trade insurance applications. The incumbent of this role will also be responsible to coach & mentor junior staff as may be required.
KEY ACCOUNTABILITIES, MEASURES & INTERFACES
Review and analyze data to determine level of country risk, industry and project risks in relation to the risks being offered for coverage.
Evaluate and analyze transactions sought for coverage and structure them into supportable transactions that meet the ECIC mandate and credit requirements.
Develop and maintain relationships with exporters, lenders, short-term trade insurers, re-insurers and other institutions involved in the export business.
Responsible for identifying new business opportunities for ECIC with a special focus on the short-term trade insurance business in collaboration with the business development team.
Conduct the assessment of commercial feasibility, financial and credit worthiness of projects / transactions (in line with the underwriting criteria and policies of the Corporation).
Conduct project desktop and field due diligence, where applicable, that includes reviewing legal, commercial and financial documents.
Assess the degree and types of commercial and political risks likely to be involved in a transaction and determine whether these risks should be covered and under what terms and conditions.
Analyze annual financial statements and management accounts and financial models.
Present and support projects to ECIC approval committee i.e., Project EXCO, FIIC Committee and / or Board for approval
Negotiation of transactions, structuring and review of commercial terms in the finance documents, security documents and other related documents to reach financial close.
Interact with the Portfolio Management team, as may be required in relation to approved projects post cover.
Carry out the corporate strategic plan, and the business goals of the new business unit dealing with short-term trade insurance business
Work in collaboration with other business units, such as Risk Unit, Business Development Unit, Portfolio Management Unit, PEAR Unit, Actuarial Unit, Legal Services Unit etc.
in line with the values of the Corporation that promote teamwork.
Manage risks and / or compliance issues within the unit in accordance with ECIC compliance and risk management strategy.
Manage re-insurance transactions for the short-term trade business (inward and outward re-insurance).
Keep abreast of evolving insurance and other relevant regulations.
Increased good quality underwriting activities for the Corporation and achieve relevant targets.
Increased repetitive business and value and number of transactions / projects approved.
Management of client relationships and key stakeholders.
CEO and COO.
Other business units particularly Risk Unit, Underwriting Unit, Business Development Unit, Portfolio Management Unit, PEAR Unit, Actuarial Unit, Legal Services Unit, etc.
ECIC Executives and Managers.
Lenders and Investors.
Senior Government Officials.
Other Export credit agencies.
Other short-term insurers and re-insurers
QUALIFICATIONS & EXPERIENCE
A minimum of a Bachelor's degree with specialisation in Economics, Accountancy, Finance, Banking, Science, Law or Engineering.
8-10 years relevant experience in short-term trade insurance and / or reinsurance.
Sound knowledge of international business, contractual, corporate finance practices and accounting.
SKILLS & ABILITIES
The incumbent should have demonstrated the following competencies :
Strong credit and risk analysis skills.
Must be able to comprehensively analyze financial statements.
Must be familiar with and have the ability to negotiate complex commercial transactions.
Ability to communicate verbally and in writing at all levels (Board, Executives, Staff and other key Stakeholders).
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.
Strong aptitude for problem resolution and decision making.
Problem solving skills to identify issues and present creative and practical solutions.
Excellent analytical skills.
Strict attention to detail and deadline orientated.
Genuine commitment to highest ethical standards and to sustainable business practices
Willingness to travel in-country and internationally
The incumbent is required to have the following Behavioural competencies :
Problem Solving : Demonstrates adequate problem-solving skills and appropriately applies proven solutions.
Business Acumen : Develops and uses a strategy to target own time (and time of others) on a portfolio of customers to maximize revenue and profitability.
Delivery : Translates business objectives into practical, prioritized and organized action plans; ensures plans are safely and successfully implemented.
Conflict Resolution : Identifies and pushes for solutions in which all parties can benefit.
Team Participation : Consistently offers relevant input to team discussions as issues are being clarified and solutions are being developed.
Flexibility : Available to work more than ordinary business hours.
Applications can be submitted through the careers portal on the ECIC Website.
Closing Date : Wednesday, 9 March 2022
NOTE : It is ECIC's intention to promote equity through the filling of posts, according to the set Employment Equity targets.
Personal information collected and processed for purposes of recruitment will be protected from unauthorised access and improper use or disclosure.
Declaration and Informed Consent
By submitting your application for the advertised role, you give ECIC permission to process your personal information and you acknowledge that you understand the purpose for which it is required and for which it will be used.
Furthermore, you declare that all personal information supplied to the ECIC for the purposes of recruitment is accurate, up to date, not misleading and that it is complete in all respects.