Reinsurance Officer at Old Mutual Insurance Rwanda: (Deadline 30 January 2024)
Old Mutual Insurance Rwanda (former UAP Insurance Rwanda) is a subsidiary of UAP Old Mutual Group, member of Old Mutual Limited, an Integrated financial service provider comprising Insurance, Banking, and Investment Business. Old Mutual insurance Rwanda vision is being the Rwandan’s revolutionary financial services company with a commitment to enhance the quality of life by delivering peace of mind and financial freedom.
Old Mutual Limited (OML) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries. Our primary operations are in South Africa and the Rest of Africa, and we have niche businesses in Asia. We have 12 million customers and 30,000 employees and with over 175 years of heritage across sub-Saharan Africa, we are a crucial part of the communities we serve and broader society on the continent. The business is listed on the Johannesburg, London, Zimbabwean, Malawian and Namibian stock exchanges. The UAP Old Mutual Group comprises of three key players as a result of the acquisition of a controlling stake in Faulu in 2014 and UAP in 2015 by Old Mutual. The acquisition resulted in Old Mutual Kenya and UAP Holdings (www.uapoldmutual.com) as well as Faulu Microfinance Bank (www.faulukenya.com) forming one of the largest financial services groups with a growing footprint in East and Central Africa. The Group currently has operations in Kenya, Uganda, Tanzania, South Sudan and Rwanda. The Group now offers customers a comprehensive and enhanced range of financial services which include Investment, Insurance, Banking, and Savings as well as a wider and more accessible distribution network. The wider group also offers broad career growth prospects for employees. It therefore wishes to fill the below vacant position with qualified, experienced, and talented individual to strengthen its portfolio as a Pan – African Financial Services Group. The positions’ details are further outlined below;
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Role Title: |
Reinsurance Officer –1 Post |
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Business Unit(s): |
Rwanda |
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Business /Function: |
Reinsurance Officer |
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Location: |
Rwanda |
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Reports To: |
Underwriting & Reinsurance Manager |
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MDP Level: |
Manager of self |
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Role Size |
L |
Job Summary
Responsible for looking after the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of business written by the company.
Key tasks and responsibilities
- Prepare data to help in the company’s Treaties arrangement and general treaty administration.
- To ensure the administration of treaties through timely preparation and submission of quarterly returns, Calculation of profit commission, preparation of annual premium adjustment at end of treaty year and follow up on premium settlements.
- Ensure proper reinsurance setup in the system.
- Coordinate inward facultative acceptance and collection of premium.
- Assist to attain Fac-inward reinsurance budgets through reciprocal business.
- Coordinate placement of risks on facultative outward, follow up on signed reinsurance acceptance slips ensuring their accuracy.
- Obtaining insurance quotations for complex risks in liaison with Reinsurance Brokers and Reinsurers
- Ensure regulation Compliance on externalized risks.
- Assist to Seek special approval for special risks in line with reinsurance treaty requirements.
- Follow up on cash calls, excess of loss and facultative claim recoveries from reinsurers.
- Advise finance department on proper allocation of various payments to and Receipts from the reinsurers and brokers.
- Maintain efficient communication lines between the company, brokers, reinsurers and other business partners.
- Perform reconciliation of various reinsurance accounts.
- Work with supervisor/seniors to ensure there is an ongoing process improvement process in place.
- Ensure underwriting data accuracy and completeness.
- Execute delegated signing authority diligently.
- Prepare various underwriting reports.
- Perform any other duties as assigned time to time.
Qualifications and experience
- Bachelor’s degree in finance or related business field.
- 3+ years’ work experience in the same role
- Basic Insurance qualification
Skills and competencies
- Critical risk analysis
- Good communication and negotiating skills.
- Good interpersonal skills
- Thorough understanding of policy covers/wordings and their interpretation as pertaining to claims.
- Resilience to cope with pressure of working in a fast paced, dynamic and rapidly changing customer expectations environment.
Please visit our careers page through: https://oldmutual.wd3.myworkdayjobs.com/en-US/Old_Mutual_Careers/details/Reinsurance-Officer_JR-50043?q=reinsurance
Interested candidate are requested submit their applications by 12.00 a.m. 30th January 2024.
Applicants must possess or be in the process of applying for a POLICE CLEARANCE CERTIFICATE as at the time of making an application.
ONLY short-listed candidates will be contacted.
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