Summary
Date Posted: Wednesday, January 24 2024, Base Salary: Not Disclosed

JOB DETAILS:
Job Summary
Responsible for looking after the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of business written by the company.

Key tasks and responsibilities
• Prepare data to help in the company’s Treaties arrangement and general treaty administration.
• To ensure the administration of treaties through timely preparation and submission of quarterly returns, Calculation of profit commission, preparation of annual premium adjustment at end of treaty year and follow up on premium settlements.
• Ensure proper reinsurance setup in the system.
• Coordinate inward facultative acceptance and collection of premium.
• Assist to attain Fac-inward reinsurance budgets through reciprocal business.
• Coordinate placement of risks on facultative outward, follow up on signed reinsurance acceptance slips ensuring their accuracy.
• Obtaining insurance quotations for complex risks in liaison with Reinsurance Brokers and Reinsurers
• Ensure regulation Compliance on externalized risks.
• Assist to Seek special approval for special risks in line with reinsurance treaty requirements.
• Follow up on cash calls, excess of loss and facultative claim recoveries from reinsurers.
• Advise finance department on proper allocation of various payments to and Receipts from the reinsurers and brokers.
• Maintain efficient communication lines between the company, brokers, reinsurers and other business partners.
• Perform reconciliation of various reinsurance accounts.
• Work with supervisor/seniors to ensure there is an ongoing process improvement process in place.
• Ensure underwriting data accuracy and completeness.
• Execute delegated signing authority diligently.
• Prepare various underwriting reports.
• Perform any other duties as assigned time to time.

Qualifications and experience
• Bachelor’s degree in finance or related business field.
• 3+ years’ work experience in the same role
• Basic Insurance qualification

Skills and competencies
• Critical risk analysis
• Good communication and negotiating skills.
• Good interpersonal skills
• Thorough understanding of policy covers/wordings and their interpretation as pertaining to claims.
• Resilience to cope with pressure of working in a fast paced, dynamic and rapidly changing customer expectations environment.

Work Hours: 8

Experience in Months: 36

Level of Education: Bachelor Degree

Job application procedure
• Please visit our careers page through: https://oldmutual.wd3.myworkdayjobs.com/en-US/Old_Mutual_Careers/details/Reinsurance-Officer_JR-50043?q=reinsurance 
• Interested candidate are requested submit their applications by 12.00 a.m. 30th January 2024.
• Applicants must possess or be in the process of applying for a POLICE CLEARANCE CERTIFICATE as at the time of making an application.
• ONLY short-listed candidates will be contacted.

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