Job Description
ADVERTISED JOB POSITION
Africa-Re hereby announces the vacancy for the position of Senior Life Underwriting Officer in the East Africa Regional Office based in Nairobi, Kenya.
RESPONSIBILITIES
The Senior Life Underwriting Officer would be responsible for managing a portfolio of accounts (treaties and facultative) for cedants in East Africa.
DUTIES / JOB DETAILS
Reporting directly to the Manager, Underwriting & Marketing (Life Operations), the successful candidate would have the direct responsibilities of underwriting and development of the portfolio he/she is in charge of.
As such, the duties of the Senior Life Underwriting Officer shall comprise:
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 and prepare periodic 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 SICS
Manage Life Reinsurance Contract details in SICS
Renewal of contracts in SICS
Recording, verifying and confirming 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 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 enquiries, 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 amount due to Africa Re.
Any other duties that may be required or assigned by the Management
JOB LOCATION
The successful candidate shall be initially based in Nairobi, Kenya but may later be transferred to other regional offices of the Corporation.
Main Competencies
COMPETENCIES AND ADDITIONAL 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 Suite (Word, Excel, Office 365, SharePoint, PowerPoint, and Outlook) are required
Strong interpersonal skills, detail oriented with customer centric orientation
Self-motivated
Good supervision and reporting 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)
Excellent presentation and communication skills
Academic Qualifications
MINIMUM QUALIFICATIONS AND EXPERIENCE:
Bachelor’s Degree or Equivalent in Insurance/Actuarial Science or /relevant field
Minimum of 8 years of relevant work experience in Life Underwriting or Claims or Reinsurance in the Insurance and/or Reinsurance industry.
Professional qualifications in insurance will be an added advantage
A good working knowledge of the second language (English or French) shall be an added advantage.
Relevant Working Exposure in a Multicultural Environment will also be an added advantage.
SALARY AND BENEFITS
The successful candidate shall have the following benefits:
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 Education Subsidy for each child up to 26 years (maximum 4 children).
Medical Cover for staff and family.
Housing Allowance.
Dependency Allowance.
Inflation Adjustment (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.
ADDITIONAL REQUIREMENTS FOR CANDIDTATES FOR THIS POSITION
Applicants must also be:
Nationals of one of the 42 member States of Africa Re.