Reinsurance Officer at Coronation Insurance Plc

Principal Duties & Responsibilities

• Apply organisational policies and procedures for processing a new application, renewal, cancellation and/or an alteration to an existing risk for the class of business being underwritten
• Participate in negotiation with reinsurance partners to derive competitive reinsurance arrangement
• Monitor company’s portfolios to ensure adequacy of reinsurance against regulatory requirements
• Provide support on reinsurance system improvements through user acceptance testing
• Conduct analysis, improvement, and timely generation of assigned reporting for reinsurance billing, collection, and reinsurance notification activities
• Ensure reinsurance arrangements are carried out in accordance with company’s reinsurance policies and regulatory requirements
• Review monthly account and collateral materials for a portfolio of reinsurance arrangements, ensuring a robust control framework and audit trail process is adhered to
• Implement and manage an optimum reinsurance framework for new and existing products and standalone facilities for all geographies
• Provide actuarial support by familiarizing with actuarial procedures and requirements of the company and/or assigned business lines

What we are looking for

Educational Qualification and Work Experience

• Degree in Accounting, Insurance or related discipline.
• Minimum 5 years’ relevant experience in similar role
• CIIN membership is a key requirement

Required Skills and Competencies

• Able to identify indicators of compliance of reinsurance activities against reinsurance policies
• Able to negotiate with reinsurance partners to derive competitive reinsurance arrangement
• Able to monitor reinsurance activities effectively
• Able to provide accurate details on reinsurance status of the company from time to time.
• Able to identify and analyze factors affecting reinsurance arrangement
• Able to develop reinsurance objectives from company’s risk exposure policies
• Able to establish reinsurance policies for individual business lines
• Knowledge of standard policy wordings, extensions, and limitations
• Experience in managing, structuring and purchasing reinsurance treaty
• Ability to manage large workloads and tight deadlines
• Knowledge of IFRS 17
• Able to apply advanced mathematical / actuarial concepts and techniques
• Skilled in using Microsoft Excel and core insurance software