REINSURANCE OFFICER AT CORONATION INSURANCE PLC

About Company:

Coronation is a leading financial service partner that helps build enduring legacies for sustainable wealth creation in Africa. Having established a 30-year record of achievements in banking across Africa and beyond, our founders established a Pan-African platform focused on building a better financial future for Africa. Today, our businesses are entrusted with our over $1billion of clients’ assets and are recognized as Nigeria's fastest-growing investment managers. Our purpose at Coronation is to create a prosperous future for our clients and the African continent. Coronation is proud to be an Equal Opportunity Employer. We enable an inclusive workplace by identity, disability, and other statuses protected by law.

We are recruiting to fill the position below:

Job Description:

Reinsurance Operations:

• Utilize routine processes and procedures to administer reinsurance and retention, process routine claims, and validate data, files, systems, procedures, and identify discrepancies
• Participate in special projects related to reinsurance administration systems, legal contracts/treaties, new product launches, and other initiatives
• Provide information to enable the preparation of and rendition of statutory statements such as reinsurance premium, minimum and deposit premium, commissions, treaty renewal statistics on various classes, etc., and/or paid on a timely basis as applicable.
• Obtain, analyse, and document information required to determine inward facultative acceptances with creditworthy Insurance Companies and follow up with counterparties to ensure premiums are received
• Provide information to enable outward facultative reinsurances with creditworthy Insurance Companies in line with set standards.
• Process facultative premium payments on a timely basis in line with laid down policies and processes
• Closely monitor/follow up on treaty and facultative claims recoveries and ensure all identified reconciliation items on facultative accounts are acted upon.

Analysis and Reporting:

• Perform entry-level accounting activities and processes reinsurance account transactions such as journal entry preparation and account reconciliations, with direct guidance and supervision.
• Gather, research, and offer support to complete audits in a timely manner, for internal and external audit, and reinsurance business partners.
• Acquire and apply maturing knowledge of the business, gathering information to support reporting and analysis.
• Provide support in the analysis of reinsurance accounts and contractual requirements, including but not limited to exposure/cession-based rates/thresholds, limits/retentions, annual aggregate deductibles/limits, loss corridors, application of experience adjustments, and monitoring large losses.

Team Participation:

• Participate in the orchestration of activities to develop and complete business deliverables, including developing and documenting project business requirements and translating those requirements into functional system specifications.

Requirements:

• Interested candidates should possess a Bachelor's Degree with 5-7 years work experience.

Salary

Application Closing Date: Not specified

Application Instructions:

Qualified candidates should send their CV to: careers@coronationinsurance.com.ng using "Reinsurance Officer" as the subject of the email.