Durban: Group Risk and Insurance Executive posted by Tongaat
Posted on 2025-06-23 00:00:00
| Employer | Tongaat |
|---|---|
| Category | Other Legal |
| Location | Kwazulu-Natal / Durban |
Job Summary
Scope of Work
To implement and maintain an Enterprise Risk Management (ERM) process at both Group and Operational levels, ensuring alignment with the organisation’s strategic objectives. This includes establishing, implementing, and monitoring risk management strategies, systems, and standards that optimise the identification, mitigation, and management of risk. The role is also accountable for the strategic oversight and optimisation of the Group’s insurance portfolio — including policy design, placement, administration, claims management, and broker performance — to ensure adequate protection of Group assets and continuity of operations.
Roles and Responsibilities
Business and Financial
• Manage function expenditure within the approved budget, including risk and insurance spend.
• Develop the ERM strategy in conjunction with the Chief of Staff to align with Group strategy and objectives.
• Oversee the insurance strategy, including risk financing structures and adequacy of insurance cover across the Group.
• Ensure all business continuity plans are aligned with both risk registers and insured risk events.
• Lead the negotiation and placement of insurance programmes in collaboration with brokers and insurers.
• Monitor insurance claims, deductibles, premium allocations, and uninsured losses to identify trends and cost-saving opportunities.
• Ensure the insurance programme is cost-effective, comprehensive, and appropriately benchmarked against industry standards.
Customers and Stakeholders
• Provide expert advice to management and business units on both risk and insurance matters, including contractual liabilities, new business ventures, asset acquisitions, and project risks.
• Maintain strong working relationships with insurance brokers, underwriters, and loss adjusters to optimise service delivery and coverage.
• Ensure clear and timely communication of insurance programme details, claim processes, and policy changes to stakeholders.
Operational Processes
• Maintain and update Group risk registers, dashboards and Combined Assurance Plans.
• Evaluate and report on insurance coverage gaps, uninsured exposures and emerging insurable risks.
• Lead the renewal process for all insurance policies, ensuring timely submission of declarations and accurate data provision.
• Oversee claims management processes to ensure efficient resolution and recoveries, including root cause analysis and lessons learned.
• Ensure insurance policies reflect the Group’s asset base, risk profile, and evolving operations across geographies.
• Maintain and improve the insurance manual and ensure compliance with internal controls and audit standards.
• Collaborate with procurement and legal teams to ensure insurance requirements in contracts are robust and enforceable.
People Leadership and Development
• Build and mentor a diverse team of risk and insurance experts, fostering a high-performance and values-based culture.
• Lead succession planning and skills development in both risk and insurance disciplines.
• Promote a culture of accountability and continuous improvement within the risk and insurance function.
• Monitor compliance with occupational health and safety standards, labor laws, and environmental regulations
Qualifications and Experience
• Bachelors Degree in Risk Management/Business Studies/Finance or related field.
• Member of Institute of Risk Management (SA).
• 10+ years’ experience in risk and non-life insurance management.
• Essential knowledge of Principles of Risk Control (SHEQ, Legal and regulatory, supply chain), Risk Financing (Insurance, financial and treasury) and thorough understanding of Business Processes
• Business, Commercial and financial acumen – Understands industry and business trends, business models, challenges, opportunities and processes and how they impact on financial, customer, people and business performance and results.
• Ideal experience of business transformation and strong understanding of varied operating models.
• Proven track record of implementation and maintenance of ERM systems in large corporate organsiations.
Closing date : 27 June 2025
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