Latest Recruitment 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. 

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DUTIES & RESPONSIBILITIES

The successful candidate will support the underwriting, pricing and reporting functions of the Regional Office, within the Corporation’s overall policies and guidelines, and consistent with the highest standards of technical rigor and client service.

The job holder shall report to the Assistant Director – Underwriting & Marketing and work closely with Underwriters, Claims, Finance and Technical Accounting teams.

The main duties of the Assistant Underwriting & Statistics Officer shall comprise, amongst others, the following:

• Support pricing and profitability analysis for facultative and treaty reinsurance business, including experience analysis, trend analysis, loss ratio monitoring and portfolio performance reviews.
• Assist in the analysis and validation of underwriting statistics, exposure data, claims triangles and other datasets submitted by cedants and brokers for treaty renewals and facultative placements.
• Support the development and maintenance of actuarial and pricing models using advanced Microsoft Excel techniques and other available tools (including complex formulas, Power Query, Power Pivot, macros and VBA), and where applicable, analytical tools such as R, Python or similar statistical programming languages.
• Support the design, development and maintenance of data dashboards and management reports using modern business intelligence and data visualization tools (e.g. Excel dashboards, Power BI or similar platforms).
• Assist Underwriters in pricing specific lines of business, particularly Medical, Agriculture, Engineering or related specialty risks, including scenario testing and sensitivity analysis.
• Participate in experience studies and research work relating to pricing assumptions, reserving inputs, risk trends and emerging risks across designated markets.
• Support the Underwriting team during treaty renewals by reviewing data completeness, reconciling figures across submissions, preparing draft technical analyses and assisting with quotations as required.
• Accurately process underwriting data within the Corporation’s reinsurance administration (SICS) and reporting (BO) systems, ensuring data integrity and consistency across the platforms.
• Prepare regular and ad-hoc statistics, production and performance reports for Management, ensuring compliance with internal reporting timelines and quality standards.
• Assist in reconciling technical results with Finance and Technical Accounting teams, including premium, claims and portfolio performance reconciliations.
• Support marketing and client engagement activities by preparing analytical exhibits and supporting materials for client meetings, seminars and training sessions.
• Maintain well-organized electronic records of analytical models, statistics, reports and supporting documentation in compliance with internal record-keeping and archiving guidelines.
• Keep abreast of developments in data analytics, insurance and reinsurance markets, and emerging analytical tools relevant to the role.
• Carry out any other duties assigned by the Supervisor. 

Academic Qualifications

QUALIFICATIONS AND EXPERIENCE:

Applicants shall be holders of:

• A First University Degree in Actuarial Science, Statistics, Mathematics, Data Science, Economics, Engineering or a related quantitative discipline.
• At least 4-5 years of relevant practical experience in underwriting, statistics, actuarial, pricing, analytics or reporting role within an insurance or reinsurance company.
• Progress towards relevant professional qualifications will be a strong advantage