African Reinsurance Corporation
Engineering Underwriter (PS 2)
The African Reinsurance Corporation (Africa Re), a pan-African International Financial Institution, announces a vacancy for the position of Engineering Underwriter in the Nairobi Regional Office.
This position is for an Engineering Underwriter who will manage a portfolio of accounts (treaties and facultatives) for cedants in East Africa.
B. Detailed Duties/Responsibilities
The successful candidate will have the direct responsibility of underwriting and developing the portfolio he/she is in charge of and shall report to the Regional Director.
The duties of the Underwriter shall comprise :
- Negotiation
for new and renewal of Reinsurance contracts;
- Portfolio
management and business relations;
- Monitoring
premium and claims payments;
- Insurance
Risk Surveys and assessments;
- Assessment
and Rating of Engineering risks;
- Managing
relationships with Cedants;
- Compiling
Performance Progress reports.
C. Key Performance Indicators
- Premium
production in line with budget and growth potentials;
- Good
claims management;
- Good
relationship with cedants;
- Underwriting
profitability in the class of business written;
- Market/
Product expansion;
- Reliability
of forecast made on premium, claims and underwriting results;
- Accuracy
of data provided to management.
D. Technical Competencies Required For This Position
- Applies
the core principles of insurance to everyday situations;
- Demonstrates
an understanding of standard policy wordings, extensions and limitations;
- Applies
knowledge of what is needed for an insurance contract to be legally valid;
- Demonstrates
an understanding of underwriting capacity;
- Knows
and applies organizational underwriting philosophy;
- Identifies
data sources which can be used for pricing decisions and factors that can
affect pricing;
- Provides
complete and accurate quotations for risks and apply the underwriting
policy and guidelines;
- Demonstrates
awareness of the data that indicates how an underwriting portfolio is
performing for own area of business;
- Knows
how claims notification information is used in the claims handling process
for own area of business;
- Manages
the claims handling process to achieve timely settlement and minimize
leakages;
- Advanced
technical competence in reinsurance & retrocession;
- Good
skills in business software tools: Word, Excel, PowerPoint, RMS;
- Very
good technical knowledge of reinsurance and retrocession.
E. Minimum Qualifications and Experience
Applicants not older than 40 years and should hold the following qualification:
- First
University degree in relevant field (Engineering) plus Masters plus 5
years post qualification relevant qualitative work experience with
emphasis on risk surveys, underwriting/rating engineering risks and
Reinsurance underwriting;
Or
- First
University degree in relevant field (Engineering) plus full professional
qualification plus 5 years post qualification relevant qualitative work
experience with emphasis on risk surveys, underwriting/rating engineering
risks and Reinsurance underwriting;
Or
- First
University degree in relevant field (Engineering) plus 9 years post
qualification relevant qualitative work experience with emphasis on risk
surveys, underwriting/rating engineering risks and Reinsurance
underwriting.
F. Additional Requirements For Candidates For This Position:
Applicants must be:
- Nationals
of member States of Africa Re;
- Additional
professional qualifications would be an added advantage;
- Bilingualism
(English/French) would be an added advantage;
- Relevant
work experience in a Reinsurance company or in the department of
Reinsurance of an insurance company would be an added advantage.
G. Other Information
Salary and other conditions of service are competitive and comparative to what is obtainable in similar international organizations.
H. Procedure
Interested candidates for this position are requested to complete and submit the employment form online.
Closing date for submission of applications: 3rd May 2013