Summary
Date Posted: Thursday, January 13, 2022 , Base Salary: Not Disclosed

JOB DETAILS:
Job Description
The job holder will assist in the implementation of the company’s reinsurance programme, based on overall company’s objectives, underwriting and reinsurance philosophy. He/she will also manage the expectations of all reinsurance stakeholders.

Principle Acountabilities
• Assist in delivering effective reinsurance services to the business in line with the company reinsurance philosophy.
• Assist in the design, negotiation and renewal of reinsurance treaties in line with the business needs and regulatory guidelines.
• Regular review of the reinsurance premium register to ensure risks are ceded optimally and in line with the reinsurance arrangements in place.
• Ensure timely issuance of reinsurance documentation such as facultative credit notes and any other closings, immediately after risk renewal/inception and ensure sign-off.
• Ensure treaty parameters are correctly set up and are properly functioning.
• Seek for competitive terms and special acceptance for treaty excluded risks from the reinsurers, either directly or through reinsurance brokers
• Support the servicing and growth of facultative inwards business.
• Establish and maintain relationships with reinsurers and reinsurance brokers to cultivate goodwill for business.
• Prepare reinsurance underwriting and claims statistics/proposals on a regular basis.
• Ensure timely preparation and submission of reinsurance periodical returns in line with treaty terms and conditions
• Maintain a good record of treaty contracts and facultative placement slips.
• Any other duties assigned.

Qualifications & Experience
• 1st Degree, ACII/Considerable progression.
• 5 years’ experience in a similar role
• Knowledge and functions on administration of reinsurance (treaty & facultative)

KEY RESULT AREAS & PERFORMANCE INDICATORS
• Claims Recovery - Prepare and forward claims documentation to re-insurers/reinsurance brokers and follow up on timely payment.
• Ensure timely facultative placement of any risks beyond company’s capacity with approved securities
• Ensure compliance with statutory requirements governing risks placements and timely reinsurance data submission to the IRA.
• Ensure compliance to internal company policies.
• Ensure timely settlement of reinsurance premiums, both treaty and facultative.
• Assist in reconciliations of facultative and treaty premiums and claims.
• Ensure that all risks accepted are properly reinsured in line with the reissuance contracts in place and the company reinsurance strategy document

Work Hours: 8

Experience in Months: 60

Level of Education: Bachelor Degree

Job application procedure
Use the link below to apply.
https://oldmutual.wd3.myworkdayjobs.com/Old_Mutual_Careers/job/Nairobi/Reinsurance-Officer_JR-18275

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