Reinsurance Officer

4 days ago

Lagos, Lagos, Nigeria Fosad Consulting Full time ₦1,500,000 - ₦3,000,000 per year
Company Description

Our Client, a leading player in the insurance Industry is seeking to hire a number savvy and dynamic candidate who will function as the Reinsurance Officer and will among other things look after the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of business written by the company and assist in implementation of the company's reinsurance programme based on overall company's objectives.

Job Description
  • Perform on reinsurance monthly, quarterly and yearly closing process.
  • Ensure general ledger shows all accounting transactions for given period and reconciliations are conducted.
  • Prepare monthly or quarterly journal entries relevant to reinsurance.
  • 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 management on implicit and ceded reinsurance account along with policies and processing claims.
  • Supervise and confirm all security actions involving letters of credit, funds withheld and trusts.
  • Ensure to correctly maintain all account complying with agreements terms.
  • Conduct balances recovery on complicated reinsurance accounts through working with brokers and reinsurers.
  • Develop and maintain relations with collections unit to search and resolve complicated settlement issues.
  • 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.
Qualifications
  • Suitable candidates must possess a B.Sc. or HND in Insurance, Accounting, Business Administration and Other related fields
  • Minimum of 2 years experience in the insurance industry.
  • Strong organization and time management skill.
  • Proficient in Microsoft Office applications.
  • Must be number Savvy.
Additional Information

Only qualified candidates will be contacted.

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