Manager Reinsurance job at NIC General Insurance Ltd

JOB DETAILS:
NIC General is a wholly owned subsidiary of NIC Holdings Limited. NIC General was incorporated on 3rd March, 2014 and took over the general insurance businesses of NIC in compliance with the legal requirement for separation of insurance businesses under the Insurance (Amendment) Act.

NIC General Insurance is looking for an experienced person to take up the position of Manager Reinsurance.
Job Title : Manager Reinsurance
Reports to : Head Non-Life

Purpose : To 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.

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.

Requirements
• 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

We are an equal-opportunity organization; both male and female candidates are encouraged to apply.

Work Hours: 8

Experience in Months: 120

Level of Education: Bachelor Degree

Job application procedure
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 Manager Reinsurance.
Strictly apply through email: vacancy@nic.co.ug

The application should reach us by Wednesday 01st May, 2024 at 5PM.