Job Title: Manager Reinsurance
Organization: NIC General Insurance Company Limited
Duty Station: Kampala, Uganda
Reports to: Head Non-Life
About US:
NIC Holdings is one of the largest financial institutions in East Africa with a network of branches spread across the country, offering a full range of insurance products and services in Life and Non-Life insurance businesses and Financial Management. NIC Holdings has two subsidiaries which include NIC General Insurance Company Limited and NIC Life Assurance Company Limited.
Job Summary: The Manager Reinsurance will act as a bridge between primary insurance agencies and reinsurance companies through analyzing of insurance accounts, reviewing insurance plans and managing accounts for the reinsurance firms.
Key Duties and Responsibilities:
- Perform on reinsurance monthly, quarterly and yearly closing process.
- Ensure general ledger shows all accounting transactions for given period and reconciliations are conducted.
- Evaluate and process utmost complicated domestic as well as international reinsurance unspecified treaty accounts.
- Review profit commissions accounts and adjust retrospective premium.
- Perform calculation of unjustified premium and audit related treaty provisions following treaty terms.
- Collaborate with accounts statements rendered by cedant.
- Recommend to management on implicit and ceded reinsurance account along with policies and processing claims.
- Ensure to correctly maintain all account complying with agreements terms.
- Conduct balances recovery on complicated reinsurance accounts through working with reinsurers.
- Identify key changes in losses incurred and leftover balance loss reserves.
- Prepare reinsurance analysis reports for management review.
- Develop financial illustrations for various pooling and captive arrangements.
- Analyze reinsurance and claim coverage issues in the relevant reinsurance contracts and/or insurance policies and provide analysis and coverage opinion.
- Drive active pursuit of reinsurance recoveries on delinquent or aging reinsurance recoverable.
- Communicate well with reinsurers, in person, in writing, or by phone, to continue to develop business relationship and report out on claims.
- Ensure that appropriate documentation, implementation and communication of established policy, procedures and operating standards is completed for area of responsibility.
- Regularly monitors and evaluates activities to identify potential risks and issues of non- compliance.
- Any other duties assigned by your supervisor.
Qualifications, Skills and Experience:
- The applicant must hold a Bachelor’s degree in Business Management, Actuarial science or any other related course.
- ACII or other Insurance Related Professional Qualification is desirable
- More than 10 years’ experience in a similar position.
- Expert knowledge in the field of reinsurance and risk management.
- Superior analytical and quantitative skills.
- Strong understanding of global and regional business environments.
- Ability to coordinate activities among a variety of internal and external constituents.
- Proactive and action driven
- Strong Leadership
- Excellent communication and presentation skills both written and spoken
- Strong networking and relationship capabilities
- Excellent influencing and persuasion abilities
- Good entrepreneurial and commercial thinking
NB: We are an equal opportunity organization; both male and female candidates are encouraged to apply.
How to Apply:
If you have the aforementioned professional and academic qualifications and you are ready to execute the above mandate, kindly send your resume to the email address below indicating on the subject of your email the job title. For example: Ref: Application for Security Officer.
Strictly apply through email: vacancy@nic.co.ug
Deadline: 1st May 2024 by 5PM.
NB: Please note that only short-listed candidates will be contacted.
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