Arbitrator

Job description

The role is responsible for managing and responding to complaints addressed to the Independent Arbitrator (from clients, the various ombudsman, FSCA, media and any other external legal bodies) and the effective running of the Office of the Independent Arbitrator. The candidate will act in an independent, impartial, and objective fashion, and have the authority to make decisions
that are binding on the Insurer.

The candidate will also be responsible for day to day operations of the department, and assist with regulatory product compliance.

Responsibilities:

Arbitration:

• Ensure the effective day to day operation of the department by coordinating and enhancing workflow and operational procedures.
• Manage workflow and assignments in order to ensure that quantity and quality guidelines are met within agreed timelines.
• Manage the investigation, assessment, and responding to complex complaints relating to service and the repudiation of claims of life, funeral, investment and legal complaints in accordance to agreed standards and SLAs.
• Managing the complaints management framework in line with all other Company complaints, compliance and risk management policies.
• Building and sustaining collaborative working relationships with internal and external stakeholders.
• Maintenance of expert knowledge on products, and processes for client services, claims, reinsurance, forensic investigations and underwriting.
• Reviewing processes and efficiencies so as to recognize opportunities for improvement.
• Ongoing monitoring of business compliance to the control frameworks, reporting and escalation of incidents of non-compliance.
• Utilize root cause analysis to understand issues across the business.
• Manage the hiring, development, retention, reward, and motivation of staff.
• Leading, coaching, inspiring and mentoring team members to provide excellent service, achieve business goals and build team capacity for the future.
• Provide management with advice on the governance, risk, legal and compliance implications of the business activities and policy documents to mitigate potential risks.
• Manage all expenses within budget, with special attention to reduce expenses through streamlining processes.
• Drafting and analyzing monthly and quarterly board reports.

Regulatory Compliance:

• Evaluate, analyzing and interpret policy wordings based on established insurance principles.
• Developing, drafting and reviewing policy wording.
• Identifying potential compliance risks and ensuring action is taken to mitigate risks and enhancing internal controls.
• Reviewing and commenting on proposed legislative changes and critical business policies.
• Participating in market studies with the FSCA.
• Responding to product and CBR queries from the FSCA and PA.
• Responsible for the drafting and updating of sales scripts.

Requirements:

• At least 5 years relevance experience, preferably in insurance industry and / or customer complaints management and / or regulatory compliance.
• LLB degree or similar degree.
• Admission as an Attorney or Advocate;
• Additional compliance and insurance qualifications advantageous

Skills:

• Knowledge of legislation relating to financial services and able to interpret and apply legislation, including, but not limited to the following: FAIS, FICA, TCF, POPIA, Insurance Act, CPA etc.
• Knowledge of insurance processes and products.
• Problem solving and conflict-management skills.
• Ability to make rational judgments from the available information and analysis and provide considered and consistent advice.
• Excellent communication, writing and presentation skills.
• Excellent interpersonal skills and the ability to deal with people at all levels effectively.