Latest Jobs at the African Reinsurance Corporation

Job Responsibilities

• The successful candidate shall report to the Director of Life Operations and will be responsible for pricing and product development of the life reinsurance portfolio across the corporation.
• The incumbent will also act as marketing actuary, providing support to life underwriters.
• The holder of this position will be required to have in-depth knowledge of the life reinsurance market across most African countries, including awareness of the legal and regulatory framework

Job Duties / Details
The main duties of the job holder shall comprise, amongst others, the following:

• Contribute to product development, design, and expansion
• Actuarial support for the life department including development of pricing bases and actuarial process improvement analyses and tools.
• Review/monitor the profitability of business lines and recommend strategic actions as necessary (products, pricing basis, etc.).
• Provide input into reserving for the life portfolio.
• Provide input to other functions (underwriting, other actuarial functions, finance, claims etc.) as relates to the life portfolio.
• Provide support on retrocession needs analysis, perform data analyses and assist with decision-making on retrocession purchases for the life portfolio.
• Support the development and execution of the Life team’s strategy.
• Monitor the performance of the life portfolios and improve governance standards.
• Assist cedants with design and development of new Life insurance products & client presentations.
• Develop eye for business in order to become a source of technical knowledge and advice for life reinsurance across the Corporation.
• Participate actively in market initiatives regarding mortality tables, pricing and other standard setting initiatives.
• Perform any other duty that may be assigned by Supervisors or Group Management.

Qualification and Experience
Applicants shall be holders of:

• First Degree in Mathematics, Actuarial Science, Statistics or other related numerate fields with a minimum of 7 years actuarial experience in a Life insurance or reinsurance company or actuarial consulting firm OR at least 3 years of experience working in a life pricing or product development role.
• Associate or substantial progression to achieving Associateship / Fellowship of an internationally recognized actuarial examining body.
• Experience working in an international insurance or reinsurance company AND experience in Life re/insurance treaty pricing, portfolio profitability analysis and costing model and tool development will be an added advantage.

Main Competencies:

• Deeply knowledgeable about life insurance and know-how to implement technical solutions and products.
• Commercially minded.
• Client-centric and experience working with external parties.
• Proficient in MS Excel. Programming experience in VBA, Python, C#, SQL and/or R is beneficial.
• Able to present complex topics clearly to a variety of stakeholders
• Enthusiastic about working with international colleagues in a multi-cultural environment.
• Experience in pricing/monitoring a range of life products, good understanding of GAAP, IFRS and also capital solutions would be a plus.
• Committed to quality, accuracy and speed.

Additional Requirements:
Applicants must have:

• Effective communication and interpersonal skills for collaboration and clear presentation.
• Commercial awareness and client-centric approach for product development.
• Deep understanding of life insurance concepts and regulations to develop technical solutions.
• Enthusiastic about multicultural collaboration and proficient in MS Excel and programming languages.
• Commitment to quality, accuracy, and adaptability in dynamic industry environments.
• Strategic thinking and problem-solving abilities for portfolio analysis and strategy execution.
• Attention to detail and analytical mindset for data analysis and governance improvement.
• Continuous learning mindset to stay updated on industry trends and methodologies.
• Proficient in English communication; French proficiency is an added advantage.

Salary and Benefits
The successful candidate shall have the following benefits:

• Competitive Basic Salary
• Variable pay (Annual Performance Bonus)
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
• Housing Allowance
• Medical cover for staff and family
• Home leave to country of origin every year paid by the employer, if non-national
• Children education subsidy for each child up to 26 years (maximum 4 children)
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation and result of surveys

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Job Description

• The successful candidate shall report to the Director of Central Operations & Special Risks at the Head Office, Lagos – Nigeria and will be responsible for building actuarial models to price agricultural and medical reinsurance businesses, calibration of parameters, maintenance of actuarial (treaty) pricing tools and providing training and support to the Underwriters.
• The role will also provide actuarial advice to underwriters across the Corporation on the pricing of more sophisticated and large risks or portfolios.

Responsibilities
The main duties of the job holder shall comprise, amongst others, the following:

• Build actuarial models, calibrate parameters such as rates, exposure curves, benchmarks, ILFs and development & trend factors.
• Participate in various corporation-wide rate review projects using analytics tools like R, Python, or any other licensed software.
• Build & maintain dashboards and reports for actuarial and data insights using various data visualization techniques.
• Work in collaboration with Underwriters across the corporation and provide actuarial advice / consultancy for complex deals.
• Active involvement in bringing new models to Underwriters and implementing them into pricing tools. Preparation of technical actuarial documentation and User guides, upload model parameters and testing the correctness/impact estimation.
• Develop portfolio level costing parameters, models and analytics (e.g. market curves, tiering and default or pre-submission loss ratios).
• Oversee submission of data imports for complex and simple business in coordination with the Underwriting team.
• Monitor portfolio development, including rate changes, and initiate steering actions as needed.
• Collaborate with ICT team to improve the pricing process.
• Perform any other duty that may be assigned by Supervisors or Group Management.

Qualifications and Experience
Applicants shall be holders of:

• First degree in Mathematics, Actuarial Science, Statistics or other related numerate fields with a minimum of 7 years actuarial experience in a non-life insurance or reinsurance company, or actuarial consulting firm OR at least 3 years of experience in pricing reinsurance products.
• Associate or substantial progression to achieving Associateship / Fellowship of an internationally recognized actuarial examining body.
• Experience working in an international insurance or reinsurance company AND experience in re/insurance treaty pricing, portfolio profitability analysis and costing model and tool development will be an added advantage.

Main Competencies:

• Deep understanding of reinsurance concepts.
• Working knowledge of agriculture and medical insurance/reinsurance.
• Skilled in statistical and data analytics software and packages like R, Python, Power BI, etc.
• Proficient in actuarial methods widely used in General Insurance/reinsurance pricing.
• Inquisitive and willing to learn new technology and methods.
• Good oral and written communication skills.
• Experience working in an agile environment in multicultural distributed team.
• A self-starter and able to tackle problems and develop solutions.
• Basic Project Management know-how is added advantage.
• Excellent communication and stakeholder management skills, with the ability to effectively communicate with both technical and non-technical audiences in an international environment.

Additional Requirements:
Applicants must have:

• Excellent analytical skills to dissect complex data and inform pricing strategies effectively.
• Strong problem-solving abilities to devise innovative solutions for pricing challenges.
• Exceptional collaboration skills to work closely with diverse stakeholders and achieve pricing objectives collaboratively.
• Adaptability to swiftly adjust to evolving market dynamics and technological advancements in the insurance industry.
• Meticulous attention to detail to ensure accuracy in pricing models and data validation processes.
• Proficient critical thinking skills to evaluate pricing methodologies and ensure alignment with business goals.
• Effective time management capabilities to prioritize tasks and meet pricing deadlines efficiently.
• Excellent communication and presentation skills
• Resilience to maintain composure under pressure
• Commitment to continuous learning, staying updated on industry trends and advancing actuarial methodologies.
• Proficient in English communication; French proficiency is an added advantage.

Salary & Benefits
The successful candidate shall have the following benefits:

• Competitive Basic Salary
• Variable pay (Annual Performance Bonus)
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
• Housing Allowance
• Medical cover for staff and family
• Home leave to country of origin every year paid by the employer, if non-national
• Children education subsidy for each child up to 26 years (maximum 4 children)
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation and result of surveys

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Job Description

• The successful candidate shall report to the Director of Finance & Accounts or his designate at the Head Office and shall give support in the maintenance of all accounting books, records, and documents in accordance with the Corporation’s financial regulations and international accounting standards and provide timely and accurate financial information when required.

Duties and Responsibilities
The main duties of the Assistant Accounts Officer shall comprise, amongst others, the following:

• Data Entry: input of data into the accounting system including expenses, fixed assets and other financial transactions.
• Expense Management: Processing of employee expenses, verifying receipts and ensure compliance with company policies.
• Accounts Payables and Receivables: Processing of invoices, issuing payments and following up on outstanding receivables.
• Reconciliation: Reconcile GLs, identifying errors and resolving issues in a timely manner.
• Communication: Collaborate with team members in the department and other departments to ensure smooth financial operations.
• Compliance: Adhere to internal controls, policies, and procedures and ensure compliance with regulatory requirements and best practices in financial management.
• Financial Reporting and Budgeting: Actively participate in the financial reporting and annual budgeting exercises.
• Support: provide general support to the Finance and Accounts department.
• Any other duties as may be assigned by the DFA or Management 

Qualifications and Experience
Applicants shall be holders of:

• Bachelor's Degree in Finance, Accounting, or Business Administration.
• The candidate must have 2-5 years of relevant finance & accounting work experience preferably in the Insurance or Reinsurance Industry.
• Relevant finance or accounting professional qualifications will be an advantage.

Main Competencies:

• Excellent knowledge of Insurance and Reinsurance;
• Very good Knowledge of Accounting
• Ability to work with limited supervision
• Working knowledge of Office productivity tools like Excel, Word, etc
• Strong interpersonal skills, detail-oriented and customer service-focused
• Team player with strong collaboration skills
• Solutions-oriented with an aptitude for solving problems and taking initiative
• Excellent written and oral communication skills
• Organizational skills and Ability to multitask;
• Ability to adapt to a fast-paced, high-production environment.
• Problem-solving skills with the capacity to take initiatives
• Capacity for analysis and reasoning
• Flexibility, Adaptability, and creativity
• Proficiency in MS Office. Experience and knowledge in a Accounting and Re/Insurance system will be an added value;
• Fluent in English. Working knowledge of the French Language will be an added advantage

Salary & Benefits
The successful candidate shall have the following benefits:

• Competitive Basic Salary on the Corporation’s Support Staff Grade Levels
• Variable pay (Annual Performance Bonus)
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
• Children education subsidy for each child up to 26 years (maximum 4 children)
• Medical cover for staff and dependents.
• Housing Allowance