Our client is now offering the opportunity to join their Reinsurance team that will be responsible for protecting the Company’s financial exposure on treaties while enhancing Reinsurance arrangements. The position entails the following responsibilities.
Key Responsibilities:
Reinsurance Controls & Reporting:
- Monitor the End of month closing including final matching of Reinsurance figures with Insurance Figures (premium and claims) in coordination with the Accounting department.
- Manage relationships with reinsurers to facilitate efficient processes and identify areas for improvement.
- Identify gaps / weaknesses / failure points in processes and interfere to find remedies with the concerned department.
- Generate quarterly reinsurance reporting for Management including quarterly results and reporting on special events.
Technical analysis and reconciliation:
- Calculate and reconcile technical treaties’ results and special scheme.
- Manage Reinsurance budgeted expenses and liaise with the Accounting Department.
- Calculate the loss Premium adjustment for the Company in collaboration with the Claims department.
- Supervise the external auditing cycle.
- Collaborate effectively with internal departments such as underwriting and finance, to ensure alignment of reinsurance objectives.
Treaty renewal process:
- Collaborate with the Technical Manager to identify and implement treaties enhancements.
- Proactively address challenges within treaty language to secure retention of business.
- Advice the Company regarding the needed improvements for the upcoming renewals exercise.
- Negotiate reinsurance terms and conditions, including premiums, coverage limits, and loss-sharing arrangements.
- Communicate negotiation developments to relevant departments.
- Review and analyze reinsurance contract to ensure compliance with regulatory requirements and organizational policies.
- Develop and disseminate final renewal treaty modifications and guidelines to all stakeholders (Reinsurance Team, UWG, Accounting, claims).
- Deploy renewed terms on system.
People Management:
- Provide guidance, coaching, and support to the team member to help them grow professionally.
- Create a positive and motivating work environment.
- Delegate tasks effectively, while empowering the team member with autonomy and ownership.
- Conduct regular performance reviews, set clear expectations, and provide constructive feedback.
Education, Experience and Qualifications:
- Bachelor Degree in Insurance, Business or equivalent; MBA is a plus.
- Professional certification from professional insurance bodies (CII….) is a plus.
- Working Experience: Minimum 10 years working experience in insurance / Reinsurance.
- Behavioral skills:
* Strong analytical skills.
* Good interpersonal and communication skills.
* Good negotiation and influencing skills.
* Managerial skills.