Job Advertisement: Manager Reinsurance
Job Title: Manager Reinsurance
Employment Type: Full-time
Location: Kampala, Uganda
Application Deadline: 01/06/2024, 5 PM
Company Overview:
NIC General is a wholly owned subsidiary of NIC Holdings Limited. NIC General was incorporated on 3rd March, 2014, and took over the general insurance businesses of NIC in compliance with the legal requirement for separation of insurance businesses under the Insurance (Amendment) Act.
NIC General Insurance is looking for an experienced individual to take up the position of Manager Reinsurance.
Reports to: Head Non-Life
Purpose:
To act as a bridge between primary insurance agencies and reinsurance companies through analyzing insurance accounts, reviewing insurance plans, and managing accounts for the reinsurance firms.
Duties and Responsibilities:
- Perform monthly, quarterly, and yearly reinsurance closing processes.
- Ensure the general ledger shows all accounting transactions for the given period and reconciliations are conducted.
- Evaluate and process complex domestic and international reinsurance treaty accounts.
- Review profit commission accounts and adjust retrospective premiums.
- Perform calculation of unjustified premiums and audit related treaty provisions following treaty terms.
- Collaborate on accounts statements rendered by cedants.
- Recommend management on implicit and ceded reinsurance accounts along with policies and processing claims.
- Ensure all accounts are maintained correctly, complying with agreement terms.
- Conduct balance recovery on complex reinsurance accounts by working with reinsurers.
- Identify key changes in losses incurred and leftover balance loss reserves.
- Prepare reinsurance analysis reports for management review.
- Develop financial illustrations for various pooling and captive arrangements.
- Analyze reinsurance and claim coverage issues in relevant reinsurance contracts and/or insurance policies and provide analysis and coverage opinions.
- Actively pursue reinsurance recoveries on delinquent or aging reinsurance recoverable.
- Communicate effectively with reinsurers to develop business relationships and report on claims.
- Ensure appropriate documentation, implementation, and communication of established policies, procedures, and operating standards.
- Regularly monitor and evaluate activities to identify potential risks and non-compliance issues.
- Perform any other duties assigned by the supervisor.
Requirements:
- Bachelor’s degree in Business Management, Actuarial Science, or a related field.
- ACII or other Insurance Related Professional Qualification is desirable.
- More than 10 years of experience in a similar position.
- Expert knowledge in the field of reinsurance and risk management.
- Superior analytical and quantitative skills.
- Strong understanding of global and regional business environments.
- Ability to coordinate activities among various internal and external constituents.
- Proactive and action-driven.
- Strong leadership abilities.
- Excellent communication and presentation skills, both written and spoken.
- Strong networking and relationship capabilities.
- Excellent influencing and persuasion abilities.
- Good entrepreneurial and commercial thinking.
Application Procedure: If you have the required professional and academic qualifications and are ready to execute the above mandate, kindly send your resume to the email address below. Indicate on the subject of your email the job title, for example: “Ref: Application for Manager Reinsurance.”
Email: vacancy@nic.co.ug
Deadline: The application should reach us by Saturday, 01st June 2024 at 5 PM.
Please note that only short-listed candidates will be contacted.
About NIC Insurance: Industry: Insurance
Location: Kampala, Uganda
NIC General is an equal opportunity organization; both male and female candidates are encouraged to apply.
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