Job Vacancies at The African Reinsurance Corporation (Africa Re)

Responsibilities

• The successful candidate shall Report directly to the Assistant Director Finance & Administration (ADFA) of the West Africa Regional Office and responsible for the receipt of all incoming funds to West Africa Regional Office and lodgments into relevant bank accounts whether locally or offshore.

Duties/Job Details
The main duties of the Assistant Account Officers shall comprise, amongst others, the following:

• Posting of all receipts and Payments.
• Preparation of monthly bank reconciliation
• Preparation of Weekly liquidity/collection report
• Carry out daily cash allocation of receipts and payments
• Reconciliation of retrocessionaires’ accounts
• Raising and posting of Journal Vouchers
• Inter Office reconciliation for all locations.
• Cash matching of receipts and payments with related reinsurance debtor transactions for assigned cedants.
• Providing technical accounting support to the Underwriting team in the processing, maintenance and reconciliation of cedant/broker accounts
• Engage in an aggressive collection drive.
• Any other duties as may be assigned by ADFA

Main Competencies
The Main competencies required for this position are as follows:

• Excellent knowledge of insurance and reinsurance.
• Very Good reporting skills.
• Basic accounting knowledge
• Work with limited supervision
• Working knowledge of accounting software (MS excel in particular)
• Analytical mind
• Good interpersonal relations
• Capacity for analyzing and reasoning
• Capacity for planning
• Capacity for taking initiatives and decision
• Ability to foster cordial relationship with cedants and colleagues
• Should be of high Integrity and have good sense of responsibility

Academic Qualifications
Minimum Qualifications and Experience:

• Higher National Diploma (HND) or First University degree or equivalent in relevant field plus a minimum of 3 years relevant work experience;
• Relevant work experience in a Technical Accounts department of a reinsurance company or an insurance company is a must.
• Relevant Professional Qualification would be an added advantage.

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

• Competitive Basic Salary on the Corporation’s Grade Level SS 2;
• Variable pay (Annual Performance Bonus);
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer);
• Education subsidy for each child up to 26 years (maximum 4 children);
• Medical cover for staff and family;
• Housing allowance;
• Exemption from taxes and duties (diplomatic status of an international civil servant);
• Inflation Adjustment, that may increase or decrease depending on the economic situation.
• Transport Allowance

Additional Requirements
Applicants must also be:

• Fluent in English, working knowledge of French will be an added advantage;
• Nationals of Members state of Africa Re;
• Not more than 32 years old.

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Responsibilities

• Reporting directly to the Director, Internal Audit, s/he will actively contribute to prepare audit reports which give assurance to management on the effectiveness and adequacy of the internal controls, confirm compliance with management procedures/policies and ascertain the accuracy of accounting reports

Duties/Job Details
The duties of the Bilingual (French & English), Senior Internal Auditor comprise amongst others:

• Evaluate and examine policies and procedures and systems in place and ensure that these are documented.
• Determine and set benchmark standards with functional heads to attain operational efficiency.
• Ensure compliance with the Corporation’s internal control policies and procedures
• Carry out reviews in all business units and central departments.
• Evaluate the reliability and integrity of information and ensure the efficient use of resources
• Prepare audit report and make recommendations to management on control weaknesses identified, share best practices and recommend improvements.
• Follow-up on the progress of implementation of recommendations and directions.
• Carry out oversight of the information systems and procedures.
• Carry out special investigations upon request by management.
• Perform other job-related duties assigned.
• Conduct audits of IT systems, applications and IT processes. Provide Management with guidance on IT risk management matters, particularly on application and infrastructure security.
• Assist in developing the IT Risk Assessment including identifying areas where internal audit should focus, and Management should consider additional investment
• Attending to any other duty as may be assigned by his supervisor and/or the Corporation’s executive management from time to time.

Main Competencies
Main Competencies Required for this Position:

• Strong theoretical and practical knowledge of Audit in the re/insurance industry
• Working knowledge in Insurance and Reinsurance
• Working knowledge of the classes of business (underwriting and claims)
• Detailed ICT technical skills and experience at both academic and practical level
• Ability to carry out audit reviews with minimum supervision and deliver quality audit reports
• Ability to apply various audit and investigation techniques.
• Capacity for high level communication with senior management and staff.
• Resilience in the face of pressure from Auditees during audit assignments
• Proactivity and good initiatives geared towards minimizing wastage, leakage of revenues, material error, fraud or system failures, etc.
• Ability to work well with all levels of management and across group operations
• Strong team player and proven managerial skills/experience;
• Well-developed communication and interpersonal skills;
• Excellent analytical, planning and reporting skills;
• Capacity for synthesizing and reasoning;
• Unquestionable integrity and proven sense of responsibility
• Ability to work under pressure and Good time management with ability to timely deliver audit assignments.
• Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint, etc.)

Academic Qualifications
Qualifications And Professional Experience:

Applicants shall be holders of:

• Bachelor in Computer Science (or equivalent) or in Engineering (in relevant discipline) plus Masters or equivalent, and post-graduate in related fields from a recognized university, plus 7 years post qualification relevant qualitative work experience in the financial services sector, international finance institutions, IT and/or IT Audits (Big 4 experience preferred)

Or

• Bachelor in Computer Science (or equivalent) or in Engineering (in relevant discipline), from a recognized university plus full Professional qualifications , plus 7 years post qualification relevant qualitative work experience in the financial services sector, international finance institutions, IT and/or IT Audits (Big 4 experience preferred)

Or

• Bachelor in Computer Science (or equivalent) or in Engineering (in relevant discipline) from a recognized university plus 11 years post qualification relevant qualitative work experience in the financial services sector, international finance institutions, IT and/or IT Audits (Big 4 experience preferred).
• Professional membership of an internally recognized associations will be an added value
• Relevant work experience in an Audit Firm (Big4 experience preferred) at similar level is required.
• Prior experience in IT Governance and/or IT Audit, internal audit or external auditing firm (Big 4 experience preferred)
• Experience with IT Operations in Financial Services or Insurance/Reinsurance environment (highly desirable)
• Progressive achievement in one or more of the traditional IT disciplines: applications, operations and/or infrastructure (highly desirable)

Additional Requirements:

• Applicants must also be: Fluency in French and excellent working knowledge of English

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

• Competitive Basic Salary on the Corporation’s Professional Staff Grade Level
• 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 family;
• Housing Allowance
• Home leave to country of origin every year paid by the employer (if non-national) ;
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.

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Responsibilities

• Reporting directly to the Group Deputy Managing Director/COO (DMD/COO), the Director, Central Operations & Special Risks will assist central management in planning and implementing the strategy of the underwriting function and ensuring that the set targets and the overall goals of the Corporation are achieved.

Duties/Job Details
The duties of the Director, Central Operations & Special Risks shall comprise amongst others:

• Under the dual supervision of the Group GMD/CEO and the Group DMD/COO, to design and negotiate cost effective and operationally efficient retrocession programmes in order to enhance the corporation’s ability to realise its objectives.
• Monitor the technical operations of production centres guiding them, giving back office support and repositioning them for better effectiveness
• Supervise the computation of the technical reserves of the corporation and submit the records to Management.
• In dealing with rating agencies, to ensure that the underwriting performance and the retrocession programmes are well understood and represented so as to enhance the reputation of the corporation.
• To initiate, guide and coordinate research activities related to the underwriting function so as to enhance the overall effectiveness of the corporation
• To initiate and enhance relevant training activities for the benefit of ceding companies and staff
• To monitor and guide the special risks operations
• To manage and monitor acceptance and underwriting authority levels
• To evaluate the potential impact on underwriting income and profitability of changes in pricing factors
• To ensure compliance with the Africa Re's policies and procedures for the processing of risks
• To ensure authority limits and underwriting controls are used effectively to manage exposure for the region.
• To manage retrocession facilities in relation to the claims notification and investigation process.
• To determine and review the process for settling claims in line with own organization’s strategy
• Attending to any other duty as may be assigned by the Corporation’s executive management from time to time.

Qualifications and Professional Experience
Applicants shall be holders of:

• Bachelor in Insurance , Actuarial Science or related field plus Masters or equivalent, and post-graduate in relevant field from a recognized university, plus 11 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions

Or

• Bachelor in Insurance , Actuarial Sciences or related field from a recognized university plus full Professional qualifications , plus 11 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions

Or

• Bachelor of Insurance or related field from a recognized university plus 14 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions.
• Professional membership of an internally recognized associations will be an added value
• Relevant work experience in the financial services sector and/or in international finance institutions or at similar level is required.

Additional Requirements:

• Applicants must also be:
  • Fluent in English or French
  • Good working knowledge of the other language will be an added advantage.

Main Competencies:

• Strong theoretical, professional and practical knowledge of underwriting and marketing in the reinsurance industry.
• Very good technical knowledge of the classes of business (underwriting and claims).
• Professional technical competence in retrocession
• Strong skills in business development
• Detailed knowledge of data sources in (re)insurance industry and working knowledge of other data sources.
• Good skill in business software tools: Word, Excel, Power Point, RMS.
• Ability to work well with all levels of management and across group operations
• Strong team player and proven leadership and managerial skills/experience;
• Excellent analytical, planning and reporting skills;
• Capacity for synthesizing and reasoning;
• Well-developed communication and interpersonal skills;
• Impeccable bias for action and strategic disposition;
• Customer focused;
• Unquestionable integrity and proven sense of responsibility
• Ability to work under pressure
• Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint, etc.)

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

• Competitive Basic Salary on the Corporation’s Executive Staff Grade Level
• 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 family;
• Housing Allowance
• Home leave to country of origin every year paid by the employer (if non-national) ;
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.

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Job Grade & Duties

• Africa Re announces the vacancy of the position of Director, Risk Management & Compliance in her Head Office in Lagos (Nigeria) on the Executive Staff Grade level.

Responsibilities

• Reporting directly to the Group Managing Director/CEO, the Director, Risk Management & Compliance will provide the overall leadership, vision and direction for Risk Management & Compliance across the Corporation.

Duties/Job Details
The duties of the Director, Risk Management & Compliance shall comprise amongst others:

• Review and report on compliance with the Corporation’s underwriting policies and guidelines to ensure strict compliance to the set guidelines.
• Review and report on the overall profitability for the year under review as well as the profitability by cedant and by line of business,
• Risk identification and reporting across the Corporation,
• Development of risk management strategy, principles, framework and policy
• Implementation of appropriate risk management processes and methodologies
• Advice and coaching to production centres on risk management,
• Co-ordinate appropriate and timely delivery of risk management information,
• Co-ordinate the rating process with Rating Agencies,
• Attending to any other duty as may be assigned by the Corporation’s executive management from time to time.

Main Competencies Required for this Position

• Strong theoretical and practical knowledge of Enterprise Risk Management in the re/insurance industry
• Very good technical knowledge of the classes of business (underwriting and claims).
• Professional technical competence in Insurance and Reinsurance
• Working knowledge of data sources in (re)insurance industry
• Good skill in business software tools: Word, Excel, Power Point, RMS.
• Ability to work well with all levels of management and across group operations
• Strong team player and proven leadership and managerial skills/experience;
• Excellent analytical, planning and reporting skills;
• Capacity for synthesizing and reasoning;
• Well-developed communication and interpersonal skills;
• Impeccable bias for action and strategic disposition;
• Customer focused;
• Unquestionable integrity and proven sense of responsibility
• Ability to work under pressure
• Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint, RMS etc.)

Qualifications and Professional Experience
Applicants shall be holders of:

• Bachelor in Risk Management, Insurance , Actuarial Science or related field plus Masters or equivalent, and post-graduate in relevant field from a recognized university, plus 11 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions

Or

• Bachelor in Risk Management, Insurance , Actuarial Science or related field from a recognized university plus full Professional Qualifications , plus 11 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions

Or

• Bachelor in Risk Management, Insurance, Actuarial Science or related field from a recognized university plus 14 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions.
• Professional membership of an internationally recognized association will be an added value
• Relevant work experience in the financial services sector and/or in international finance institutions or at similar level is required.
• The successful candidate shall be based in Lagos (Nigeria).

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

• Competitive Basic Salary on the Corporation’s Executive Staff Grade Level
• 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 family;
• Housing Allowance
• Home leave to country of origin every year paid by the employer (if non-national) ;
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.

Other Information
Added Advantage:

• Being an Actuary
• Having worked in a reinsurance company as an ERM Officer/Manager capacity

Additional Requirements
Applicants must also be:

• Fluent in English or French
• Good working knowledge of the other language will be an added advantage