• Application Deadline:
• Position: Reinsurance Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 4 - 5 years


• Location Lagos


• Job Field Insurance 
  

Principal Duties & Responsibilities

• Support the implementation of the reinsurance framework for new and existing products


• Apply organizational policies and procedures for processing a new application, renewal, cancellation and/or an alteration to an existing risk for the class of business being underwritten


• Participate in negotiation with reinsurance partners to derive competitive reinsurance arrangement


• Evaluate company’s portfolios to ensure adequacy of reinsurance against regulatory requirements


• Provide support on reinsurance system improvements through user acceptance testing


• Conduct analysis, improvement, and timely generation of assigned reporting for reinsurance department billing, collection, and reinsurance notification activities


• Validate that reinsurance arrangements are carried out in accordance with company’s reinsurance policies and regulatory requirements


• Manage reinsurer or broker relationships


• Review monthly account and collateral materials for a portfolio of reinsurance arrangements, ensuring a robust control framework and audit trail process is adhered to.

Education and Experience

• First Degree in Insurance or related discipline.


• Minimum of 4-5 years’ experience in the Insurance Industry and experience in a reinsurance function


• Professional membership such as Chartered Insurance Institute of Nigeria is a key requirement

Skills and Competencies

• Able to identify indicators of compliance of reinsurance activities against reinsurance policies


• Able to negotiate with reinsurance partners to derive competitive reinsurance arrangement


• Able to monitor reinsurance activities effectively


• Able to provide accurate details on reinsurance status of the company from time to time.


• Able to identify and analyze factors affecting reinsurance arrangement


• Able to develop reinsurance objectives from company’s risk exposure policies


• Able to establish reinsurance policies for individual business lines


• Knowledge of standard policy wordings, extensions, and limitations


• Knowledge of IFRS 17


• Skilled in using Microsoft Excel and core insurance software


• Communication and Influencing skills


• Data analysis and Interpretation