Reinsurance Analyst at Land Bank Careers

MAIN PURPOSE OF THE JOB

• Maintenance of the life and non-life reinsurance portfolio in line with reinsurance treaties, internal policies and guidelines. Provide critical analysis and reporting of reinsurance transactions.

Key Performance Areas    
Reinsurance and Administration

• Prepare quartley reinsurance accounts for life and non-life insurance business.
• Prepare term adjustments, sliding scale commission calculations, and profit commission calculations.
• Perform monthly reinsurance reconciliations for all lines of business.
• Ensure timely recovereability and settlement of all reinsurance transactions.
• Prepare monthly reinsurance analysis reports for management review.
• Ensure adherence to all terms and conditions as stipulated in various reinsurance treaties.
• Build and maintain relationships with the appointed reinsurance broker for both existing business and potential business.
• Place facultative reinsurance as per business guidelines.
• Participate in strategic planning for the structuring of reinsurance programmes for all lines of business.
• Accountable for the accuracy and completeness of all reinsurance data.
• Prepare annual reinsurance renewal packs.
• Implement analytical tools to provide critical insight on reinsurance performance.
• Work closely with the risk and actuarial function to model Own Risk and Solvency Assessment (ORSA) scenarios and impact on reinsurance.
• Responsible for the reinsurance and risk other forms of risk transfer policy.
• Research all problems and risk related issues by using initiative in problem solving that involves management in decision making as necessary.

Maintenance of policies and operating system

• Receive the information to be captured and analyse to determine the nature of the capturing required.
• Capture the information accurately on the system.
• Lead the process to automate routine reinsurance transactions.
• Lead user acceptance testing initiatives across product lines and systems.
• Submit captured information for approval where necessary.

Quality Assurance

• Determine the quality requirements applicable to the work environment
• Ensure that all work conforms to the quality requirements in terms of delivery
• Initiate corrective actions where required to maintain quality standards
• Ensure that all policies and procedures are maintained to enable compliance measurement

Preferred Minimum Education and Experience    

• Commercial Business Degree
• 2-5 years Life and/or Short term reinsurance experience
• 2-5 years Insurance operating system experience

Critical Competencies    

• Reinsurance and administration
• Maintenance of policies and operating system
• Quality Assurance
• Comprehensice understanding of reinsurance principles

Additional Requirements    

• Extended hours as and when required.

Closing Date
2023/05/11