Chief Underwriting Officer - Specialty Non-Life

About the role

Old Mutual is looking for a Chief Underwriting Officer to lead its Specialty underwriting function in Johannesburg. The role sets practical underwriting standards, controls and capabilities that support sustainable risk-adjusted returns, and provides objective technical challenge to business-line leaders without taking away their accountability for commercial results.

Key responsibilities

• Develop and maintain the underwriting philosophy, policies, class guidelines, delegated authorities and referral framework within Group standards, and authorise technical guidelines, rating tools and product terms.
• Translate business appetite into risk parameters, minimum underwriting hurdles and disciplined exception processes.
• Oversee technical pricing, portfolio profitability, rate adequacy and risk selection, track loss costs, concentrations and emerging exposures, and lead technical portfolio reviews and quality assurance.
• Maintain underwriting quality controls, documented decisions, technical audits and oversight of delegations, and ensure compliance with insurance licences and regulatory requirements.
• Represent Specialty needs in Group reinsurance design, renewals, facultative referrals and exposure management, and work with the Group CUO and Reinsurance Officer.
• Set technical requirements for underwriting tools, data quality and automation, and support the evaluation of new products, markets and partnerships.
• Build specialist underwriting talent, technical succession and communities of practice, set objectives, manage technical resources and deliver the function's budget.
• Refer, decline or stop underwriting outside approved technical limits, with escalations going through the Specialty CEO and Group CUO.

Required profile

• Extensive non-life underwriting experience of 12+ years, including substantial experience in commercial or specialist risks and at least 5 years leading technical teams.
• Demonstrated authority in technical risk selection, underwriting governance, delegated authorities, pricing adequacy and complex portfolio analysis.
• Strong understanding of reinsurance economics, exposure management, claims drivers and South African insurance regulation.
• Relevant degree in insurance, actuarial science, finance, engineering, risk or a related discipline; advanced insurance designations or professional accreditation advantageous.

Required skills

• Underwriting management and risk management
• Pricing adequacy and portfolio analysis
• Reinsurance economics and exposure management
• Technical governance, delegation oversight and regulatory compliance