Manager Reinsurance job at NIC General Insurance Ltd

Vacancy Title: Manager Reinsurance

[Type: Full-Time, Industry: Insurance, Category: Management]

Employer: NIC General Insurance Ltd

Application Deadline: Saturday, June 01, 2024

Duty Station: Kampala, Uganda, East Africa

Summary: Date Posted: Saturday, May 18, 2024

Job Details: NIC General, a wholly-owned subsidiary of NIC Holdings Limited, is seeking an experienced individual for the position of Manager Reinsurance. NIC General was incorporated on March 3, 2014, following the legal requirement for the separation of insurance businesses under the Insurance (Amendment) Act.

Duties and Responsibilities:

• Oversee reinsurance monthly, quarterly, and yearly closing processes.
• Ensure the general ledger accurately reflects all accounting transactions for the given period and conduct reconciliations.
• Evaluate and process complex domestic and international reinsurance treaty accounts.
• Review profit commission accounts and adjust retrospective premiums.
• Calculate unearned premiums and audit related treaty provisions following treaty terms.
• Collaborate on account statements rendered by cedants.
• Advise management on assumed and ceded reinsurance accounts, policies, and claim processing.
• Maintain all accounts accurately in compliance with agreement terms.
• Recover balances on complex reinsurance accounts by liaising with reinsurers.
• Identify key changes in incurred losses and outstanding 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 and provide analysis and coverage opinions.
• Pursue reinsurance recoveries on delinquent or aging reinsurance receivables.
• Communicate effectively with reinsurers to develop business relationships and report claims.
• Ensure appropriate documentation, implementation, and communication of policies, procedures, and operating standards.
• Monitor and evaluate activities to identify potential risks and compliance issues.
• Perform other duties as assigned by the supervisor.

Requirements:

• Bachelor’s degree in Business Management, Actuarial Science, or a related field.
• ACII or other Insurance-Related Professional Qualification is desirable.
• More than 10 years of experience in a similar position.
• Expert knowledge in reinsurance and risk management.
• Superior analytical and quantitative skills.
• Strong understanding of global and regional business environments.
• Ability to coordinate activities among various internal and external constituents.
• Proactive and action-driven.
• Strong leadership skills.
• Excellent communication and presentation skills, both written and spoken.
• Strong networking and relationship-building capabilities.
• Excellent influencing and persuasion abilities.
• Good entrepreneurial and commercial thinking.
• We are an equal opportunity organization; both male and female candidates are encouraged to apply.

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Experience: 10 years

Work Hours: 8

Education Level: Bachelor Degree

Application Procedure: If you meet the above professional and academic qualifications and are ready to execute the specified duties, please send your resume to the email address below, indicating the job title in the subject of your email (e.g., Ref: Application for Manager Reinsurance).

Email: vacancy@nic.co.ug

Application Deadline: Saturday, June 01, 2024, at 5 PM. Only short-listed candidates will be contacted.