Directline Assurance
We are looking for a motivated
and qualified professional to fill the position of Reinsurance
Officer.
Overall Purpose of the Job: The role holder is responsible for placement of
risks and reinsurance recoveries
Key Roles and Responsibilities
Assist in processing of statutory returns i.e.
Reinsurance renewal returns
Assist in processing and negotiating treaty renewals
for general and motor business.
Liaising with treaty leader and documenting the
agreed terms / treaty slips on treaties with Reinsurers.
Placement of facultative business and ensuring
acquisition of facultative business.
Assist in preparation of yearly reinsurance
programme and circulating to claims, underwriting, marketing and finance
Preparation of treaty accounts i.e. quarterly
accounts, premium Adjustment, Portfolio Accounts, Profit Commission
Processing of recoveries from reinsurers both
facultative and Excess of loss.
Notify the reinsurer(s) of cash losses and pursue
recovery of the same in a timely manner as per treaty terms.
Preparation of treaty summaries for consumption by
the management
Ensuring that all businesses booked by the company
follows proper reinsurance placements as per treaty terms.
Assist in dealing with routine treaty and
facultative administration matters and account queries from Reinsurers.
Negotiate special acceptances of unusual risks and
assist in setting up of new treaties in the system.
Identify reconciliation items on both treaty and
facultative accounts and liaise with finance and credit control departments to
ensure reconciliation is done in a timely manner
Ensure underwriting renewal process is streamlined
by regular follow-ups with the branches on the status.
Risk Management Compliance - Assist in compliance to
reinsurance and underwriting guidelines.
Internal Controls - Maintain risk register on a
weekly basis,
Assist in preparation of renewal statistics before
30th September and the treaty cover slips before 31st December to the
regulator.
Assist in preparation of quarterly and annual
accounts six weeks after end of every quarter.
Competitive Analysis - Assist in reviewing
Reinsurance Strategy.
Maintain a good relationship with our reinsurance
partners.
Talent Management - Assist in training on basic
Reinsurance principles to Underwriting team.
Any other responsibilities will be communicated to
the Officer from time to time.
Person Specifications
Academic Qualifications & Professional Qualifications
University degree in Insurance & Risk Management
Option/Marketing/Business Administration/Finance or equivalent from an
institution recognized by Commission for Higher Education
Diploma in insurance (CII) or its equivalent
Proficiency In Short Term Reinsurance Practice ( Zep
Re Academy) or local equivalent (AIIK) will be an added advantage
Member of a relevant professional body
Experience
Minimum five (5) years’ relevant experience in the
Insurance Industry two of which must be in a reinsurance company, reinsurance
broker or reinsurance function in an insurance company
Excellent knowledge and understanding of
contemporary risk management principles, practices and reporting
Technical competence and experience in underwriting
all classes of insurance
Skills and Attributes
Excellent communication, negotiation and
interpersonal skills
Excellent planning and organization skills
Excellent problem solving and decision making skills
Excellent knowledge of industry rules and regulations
Results oriented and customer focused
Excellent analytical skills and strong appetite for
numbers
Strong supervisory and leadership skills in managing
team performance
Excellent presentation skills
High standards of integrity and professionalism
Self-initiative and innovative
Key account management skills
Computer literate in MS Office and other office
applications
Strong understanding of the working environment and
competition
Application Instructions
If you qualify for the above
advertised role, kindly send us a detailed CV and Application Letter clearly
demonstrating your fit as per the roles & responsibilities and the person
specifications (academic/professional qualifications, experience, skills &
attributes) listed above.
Applications that do not
conform to the Application Instructions will not be considered.
Kindly send your application
documents to human.resource@directline.co.ke to reach us on or before 5.00pm
Friday, 19th May 2023.
