Technical Accounting Officer at African Reinsurance Corporation (Africa Re)

DUTIES & RESPONSIBILITIES

The successful candidate will provide support to the Technical Accounting and Finance Function of the Regional Office, within the Group’s overall policy & guidelines and consistent with the highest standards of client service.

The main duties of the Technical Accounting Officer shall comprise, amongst others, the following:

• Establish contracts in SICS, both renewal and new based on signed slips by capturing all relevant details within set timelines.
• Maintaining proper records of all transactions received and save in the proper folder in SharePoint.
• Verify Technical Accounts (Proportional and Non-Proportional) received from cedent/broker and make sure proper processing of all technical transactions in the system, including periodic returns, MDPs, premium adjustments, cash call refunds, etc.…
• Review premium and claim Bordeaux to make sure all are in order before processing technical transactions.
• Issue confirmation statement debit/credit notes to cedants/brokers after processing transactions.
• Attending to client correspondences timely and respond appropriately.
• Provide and deliver quality services to cedants/brokers and internal customers.
• Generate Statement of Accounts (SOA) periodically and perform periodic accounts reconciliations with respective cedants/brokers for agreement, follow-up settlement of balances.
• Prepare settlement memo with relevant statement of accounts when account balances are due to Broker/cedent.
• Cash-matching of receipts and payments with related reinsurance debtors and creditors transactions for assigned Portfolio/ Account.
• Follow up systematically missing returns (Quarterly/semiannually/ yearly), Premium adjustments, commission adjustments and uncredited cash loss credits.
• Follow up and request payment details from the cedants/brokers for receipts not supported to facilitate cash-matching.
• Reconcile balances with Cedants and Brokers.
• Prepare periodic management reports in collaboration with colleagues in the regional office.
• Attending internal/external Audit and technical inspections queries timely and take appropriate action based on the recommendations provided within agreed timeline.
• Attending to other duties as may be assigned by the Supervisor from time to time.

Academic Qualifications

QUALIFICATIONS AND EXPERIENCE:

Applicants shall be holders of:

• First University Degree in relevant fields plus full Insurance/Reinsurance/Accounting Professional Qualification, plus 5 years post qualification relevant work experience with emphasis on insurance/reinsurance underwriting and technical accounting (both treaty and Facultative).

Or

• First University Degree in relevant field plus 7 years post qualification relevant work experience with emphasis on insurance/reinsurance underwriting (both treaty and Facultative).
• Relevant work experience in a reputable Insurance/Reinsurance organization at a similar level is an added advantage.
• Relevant Professional qualifications (ACII, CPA, ACCA or equivalent) will be a strong advantage.