De Beers Group·Gauteng, south-africa·Full Time·Contract
ManufacturingFull TimeContract
-
We are seeking an Insurance Manager to act as De Beers Group's central authority on insurance and risk financing. The role will manage global insurance programmes across mining operations, diamond recovery and processing, global diamond transportation, inventory/specie exposures, retail businesses, corporate functions and strategic initiatives, with accountability for effective risk transfer, claims recovery, regulatory compliance, loss prevention and optimisation of the Group's total cost of risk.
The role has global scope and requires travel to corporate and operational locations, including mining sites, as business needs require. The role holder will coordinate business-unit insurance representatives and external service providers; any direct-report responsibilities and delegated financial authorities as defined.
Key Responsibilities
Insurance Strategy and Programme Design
Develop and implement the Group's global insurance strategy and risk financing framework.
Define the Group's risk appetite for insured and retained risks and recommend appropriate deductibles, self-insured retentions, limits, insurer panels and alternative risk financing arrangements.
Design, procure and maintain appropriate insurance programmes to meet the evolving needs of the business, including:
Mining and operational assets
Capital projects and construction activities
Mergers and acquisitions
Corporate and commercial activities
Emerging and strategic risks
Maintain a coverage framework addressing material exposures, including property damage and business interruption, construction, liability, marine cargo/specie, cyber, directors' and officers' liability, crime, environmental liability, political violence and terrorism, and other specialist risks relevant to the Group.
Ensure all statutory, contractual and regulatory insurance requirements are met across jurisdictions in which De Beers operates.
Lead insurance market engagements, renewals and placement activities to secure optimal coverage and competitive pricing.
Monitor global insurance market trends, capacity, pricing and coverage developments to identify opportunities and emerging threats.
Provide insurance due diligence and transaction support for acquisitions, divestments, restructurings, joint ventures and strategic projects.
Establish insurance governance for non- government joint ventures and partnerships, including alignment with partners, financing requirements and shareholder obligations.
Build and maintain institutional insurance knowledge within the Group and develop sustainable insurance management processes that reduce reliance on external advisers.
Programme Optimisation and Innovation
Continuously review insurance arrangements to identify cost-effective improvements and innovative risk financing solutions.
Challenge existing programme structures and develop recommendations that improve coverage, reduce total cost of risk and increase operational efficiency.
Explore alternative risk transfer mechanisms and emerging insurance products.
Benchmark insurance programmes against industry best practice and leading mining sector standards.
Insurance Administration and Governance
Oversee the implementation and ongoing management of all administrative processes and controls necessary for the effective operation of insurance programmes.
Ensure accurate and timely management of policy documentation, endorsements, declarations, asset schedules and underwriting data.
Establish and maintain governance frameworks, reporting mechanisms and internal controls supporting insurance programme effectiveness.
Own insurance the budgets, premium forecasts, allocations and accruals; monitor broker remuneration, premium taxes and expenditure against approved budgets.
Coordinate with Finance, Tax and external audit on insurance-related accounting, claims receivables, provisions, disclosures and supporting evidence.
Maintain compliance with local admitted-policy requirements, licensing, sanctions, anti-bribery, premium-tax, data-protection and document-retention obligations across relevant jurisdictions.
Own insurance exposure, policy and claims data, systems and records, including data-quality controls, access governance and reporting automation.
Coordinate annual renewal processes and ensure quality submission information is provided to insurers and brokers.
Claims Management
Lead the Group response to major loss events and significant or complex claims, coordinating insurers, brokers, loss adjusters, legal advisers and operational stakeholders to maximise recovery, protect evidence and minimise business disruption.
Develop and maintain effective claims management processes across the Group.
Ensure appropriate claims notification, documentation and recovery procedures are in place and operating effectively.
Monitor claims performance metrics and ensure claims are settled within reasonable timeframes and in accordance with policy terms and conditions.
Identify trends and lessons learned from claims experience and recommend risk mitigation measures.
Stakeholder Management and Advisory
Establish and coordinate a network of insurance coordinators and subject matter experts across operations, projects, finance, legal, security, supply chain and procurement functions to ensure accurate underwriting and claims information is available throughout the year.
Build and maintain strong working relationships with business unit leaders, project teams and Group functions.
Provide expert insurance advice and support to operational, project and corporate teams.
Review insurance, indemnity, limitation-of-liability, waiver and evidence-of-insurance provisions in material customer, supplier, logistics, construction, financing and joint-venture agreements.
Maintain relationships with insurers, brokers, reinsurers, loss adjusters, legal advisors and other external stakeholders.
Act as the owner of the broker relationship and provide independent challenge to broker recommendations, programme structure, insurer selection, coverage terms and placement strategies.
Stay informed on business developments, strategic initiatives and risk exposures to proactively advise on insurance implications.
Communicate insurance requirements, programme performance and key developments to senior management.
Work with crisis management, business continuity, disaster recovery, security and operational teams to ensure insurance arrangements and incident-response protocols are aligned.
Captive Insurance Strategy
Investigate the feasibility, benefits and business case for establishing a Group captive insurance company.
Assess captive structures, domiciles, governance requirements and financial implications.
Lead implementation activities should the Group decide to establish a captive insurance vehicle.
Manage ongoing interactions with captive managers, regulators, actuaries and reinsurers where applicable.
Reporting and Risk Management
Prepare and present insurance and claims reports for senior management, executive committees and governance forums.
Monitor total cost of risk, insurance spend and claims recovery performance.
Support enterprise risk management processes by providing insurance expertise and risk financing insights.
Develop and maintain insurance-related key performance indicators (KPIs) and management information.
Track and report performance against agreed measures, including renewal delivery, premium versus budget, claims recovery and ageing, uninsured exposures, closure of risk-engineering actions and stakeholder service levels.
Separation and Initial Delivery Priorities
Deliver insurance separation readiness, including transfer or replacement of policies, data, systems and services; define transitional service requirements; and confirm responsibility for legacy and stranded liabilities.
During the first 12 months, complete the global renewal, establish the target governance and reporting model, improve claims oversight, implement priority loss-prevention actions and deliver the captive feasibility assessment and recommendation.
Qualifications:
Formal Qualifications
Required:
Bachelor's degree in Risk Management, Insurance, Finance, Law, Commerce or a related field.
Professional insurance qualification (e.g., ACII, FCII, IRMSA certification or equivalent) is preferred; equivalent senior-level experience in complex multinational insurance may be considered.
15+ years' experience leading corporate insurance, risk financing or risk management in a complex multinational organisation, with demonstrated accountability for material decisions and outcomes.
Experience managing large-scale multinational insurance programmes in mining, resources, energy, infrastructure or other asset-intensive industries.
Experience managing high-value, geographically diverse insurance programmes with complex operational, project, liability and supply-chain exposures exceeding US$1 billion.
Demonstrated experience negotiating with global insurers and insurance brokers.
Strong knowledge of multinational insurance programme structures, local admitted requirements, fronting arrangements, reinsurance structures and cross-border insurance regulations.
Proven track record managing significant and complex property damage, business interruption and liability claims.
Experience supporting capital projects, acquisitions and major corporate transactions.
Experience evaluating or managing captive insurance structures would be highly advantageous.
Developing relationships with senior/executive management.
Strong commercial judgement, analytical capability, negotiation and executive communication skills, with the confidence to challenge senior stakeholders and lead effectively during major incidents.
Experience in mining natural resources, energy, logistics, commodity trading or luxury goods sectors, or similar is desirable.