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The Senior Life Underwriting Officer would be responsible for managing a portfolio of accounts (treaties and facultative) for cedants in Anglophone West Africa.
Job Responsibility
Soliciting and negotiating for new and renewal of Reinsurance contracts
Portfolio management and business relations
Monitoring premium and claims payments
Insurance Risk selection and assessment
Assessment and Rating of Life Insurance risks
Managing cedant relationships
Compile Performance Progress report
Monitoring the profitability of markets serviced and progress towards the achievement of corporate objectives in the assigned markets
Assist the Life Underwriting Unit in coordinating activities of the Unit
Perform underwriting support activities associated with information gathering of all businesses, renewals, and mid-term changes
Manage Policy cessions in the system
Manage Life Reinsurance Contract details in the system
Renewal of contracts in the system
Recording, verifying, and processing statements received from cedants, including premium closings, monthly or quarterly accounts, CAT excess of loss premiums, etc.
Preparing renewal notices for facultative businesses and forwarding the same to cedants upon approval
Maintain Proper records of all business offers and transactions received and concluded
Ensure that all the treaties/facultative contracts are processed and the cover notes/slips/wordings signed and sent out to cedants as and when due
Attending to client inquiries, social and business functions, and other related activities for overall marketing effectiveness
Assisting the finance team in the reconciliation exercise of cedants’ accounts and following up on outstanding amounts due from cedants, while also ensuring timely remittance of amounts due to Africa Re
Any other duties that may be required or assigned by the Management
Requirements
Good command of both written and spoken English
Good knowledge of Life Assurance, Underwriting, Claims, Reinsurance and Retrocession
Good knowledge of Health Insurance Laws and Regulations
Adequate knowledge of some actuarial concepts such as the present values of a series of payments, compound interest and amortization schedule
Excellent IT skills in MS Office products (Word, Excel, Office 365, SharePoint, PowerPoint, and Outlook)
Strong interpersonal skills, detailed oriented and customer service focused
Self-motivated
Good supervision and reporting skills
Strong problem-solving skills
Willingness and passion to learn and work
Ability to work under pressure, without close supervision and within established timeframes
Ability to multitask and manage change
Excellent problem-solving skills (i.e., conceptual, and analytical thinking)
High level of Integrity and proven sense of responsibility
Good team player (i.e. working collaboratively with colleagues to achieve organizational goals)
Bachelor’s Degree or Equivalent in Insurance/Actuarial Science or /relevant field
Minimum of 8 – 10 years of relevant work experience in Life Underwriting or Claims or Reinsurance in the Insurance and/or Reinsurance industry
Professional qualifications in insurance
Relevant Working Exposure in a Multicultural Environment will also be an added advantage
Nationals of one of the 42 member States of Africa Re
A good working knowledge of the second language (French) shall be an added advantage
Nice to have
Relevant Working Exposure in a Multicultural Environment will also be an added advantage
A good working knowledge of the second language (French) shall be an added advantage
What we offer
Competitive Basic Salary
Variable Pay (Annual Performance Bonus)
Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer)
Children's Education Subsidy for each child up to 26 years (maximum 4 children)