Jobs at Old Mutual Group

Job Summary

Reporting to the Finance Manager, the incumbent will be responsible for Financial reporting and planning, statutory reporting and re-insurance reviews, Performance monitoring – through implementing business metrics in order to closely monitor profitability, Offering effective support to the business and Balance sheet substantiation.

Key Responsibilities:

• Offering effective support to the business.
• Spearheading the planning and forecasting process and reviewing of financial reports.
• Strategic planning and analysis, including capital and balance sheet planning to ensure appropriate use of capital and also to ensure that the entity is solvent in accordance to the regulations.
• Training and coaching team members to ensure appropriate skill set for reporting team and effective succession planning.
• Ensure optimal business performance by ensuring risks and control weaknesses are adequately mitigated.
• Implementing performance monitoring metrics for the business in order to closely monitor profitability.
• Attendance and presentation of financial performance at various company and regional meetings.                                                                                                                                        Facilitating interim and full year audits and preparation of annual financial statements
• Ensuring no legal compliance breaches by submitting all regulatory returns within the stipulated timelines
• Adhering to business planning and reporting timelines
• Continuous Improvement of performance monitoring metrics for the various distribution channels
• Engaging the business on the various reports including financials and functional reports and attendance of meetings for the various functional departments.

Qualifications

• Undergraduate degree preferably Bachelor of Commerce - Finance option
• Masters’ degree/MBA Finance
• Certified Public Accountant CPA(K) - Member of ICPAK
• 5 years’ experience (Minimum 2 years in the insurance industry is preferred)

Skills and Competencies:

• Financial and management accounting
• Problem Resolution
• Strategic Planning and Analysis
• Budgeting and Forecasting
• Capital and cash flow planning

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Job Summary

Reporting to the Group Underwriting Manager & Reinsurance the incumbent will be responsible for management, administration and control of the reinsurance department to ensure quality and timely service to both internal and external customers.

Key Responsibilities:

• Ensure effective management and administration of Reinsurance programs including technical support to the regional offices on need basis
• Analyze the company’s reinsurance needs; propose a suitable program for the year and assist in negotiating terms with re-insurers so as to ensure capacity to write business costs effectively
• Source for and accept quality and properly rated facultative business to ensure growth of business
• Ensure profitable growth of the Marine cargo & Hull insurances
• Place both new and renewal facultative business with (re)insurance companies to ensure the company is not over-exposed
• Follow-up on GI and Health treaty and facultative recoveries including “cash calls” in order to reduce the claim costs
• Seek authority for the placement of risks overseas from Insurance Regulatory Authority and source for markets to place the risks
• Ensure reinsurance statistics and proposals are correctly prepared for both Insurance Regulatory Authority (IRA) and re-insurers to assist in obtaining treaties
• Preparation of management reports on the department as required to show the status of the department
• Supervise, train, mentor and coach staff to ensure motivation.
• Ensure that premiums due to re-insurers are paid, and monies due to the company are collected 
• Ensure timely collection of facultative and marine premium
• Ensure timely and accurate FACULTATIVE AND TREATY CLAIMS RECOVERY – both GI and Medical.
• Facilitate renewal of treaties
• Source terms from quality and approved reinsurers for mega and complex risks that require reinsurance support
• Daily check of booked transactions and ensure all are correctly and accurately ceded/captured in the system and treaty
• Ensure all risks above treaty are properly reinsured, zero exposure
• Monitor and liaise with Underwriting Managers to ensure no excluded risk is accepted
• Liaise with Underwriting managers and ensure policy documents are aligned to the treaties including any treaty changes/terms, system changes
• Train staff on reinsurance treaty and sign-off by staff -every year after renewal
• Ensure Reinsurance strategy is prepared, approved by board and implemented

Qualifications

• 1st Degree
• ACII or equivalent
• 5 years preferably in Reisurance and Marine

Skills and Competencies:

• Good analytical and assessment skills
• Good communication skills
• Knowledge of the political, social and economic landscape
• Diplomatic and tactful
• Honesty and integrity