Reinsurance Officer

Coronation is a leading financial services 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 evaluating qualified applicants without discriminating against race, colour, national origin, religion, sex, sexual orientation, gender identity, disability, and other statuses protected by law.

Coronation Life Assurance Limited
– an affiliated company to Coronation Group Ltd is a leading insurance provider of life products and services to individuals and corporate entities.

Location: Lagos

Reports to: Team Lead, Reinsurance

Principal Duties & Responsibilities

• Apply organisational policies and procedures for processing a new application, renewal, cancellation and/or an alteration to an existing risk for the class of business being underwritten
• Participate in negotiation with reinsurance partners to derive competitive reinsurance arrangement
• Monitor company's portfolios to ensure adequacy of reinsurance against regulatory requirements
• Provide support on reinsurance system improvements through user acceptance testing
• Conduct analysis, improvement, and timely generation of assigned reporting for reinsurance billing, collection, and reinsurance notification activities
• Ensure reinsurance arrangements are carried out in accordance with company's reinsurance policies and regulatory requirements
• Review monthly account and collateral materials for a portfolio of reinsurance arrangements, ensuring a robust control framework and audit trail process is adhered to
• Implement and manage an optimum reinsurance framework for new and existing products and standalone facilities for all geographies
• Provide actuarial support by familiarizing with actuarial procedures and requirements of the company and/or assigned business lines

What we are looking for

Educational Qualification and Work Experience

• Degree in Accounting, Insurance or related discipline.
• Minimum of 4-5 years' relevant experience in the Insurance Industry
• CIIN membership is a key requirement

Required Skills and Competencies

• Able to identify indicators of compliance of reinsurance activities against reinsurance policies
• Able to negotiate with reinsurance partners to derive competitive reinsurance arrangement
• Able to monitor reinsurance activities effectively
• Able to provide accurate details on reinsurance status of the company from time to time.
• Able to identify and analyze factors affecting reinsurance arrangement
• Able to develop reinsurance objectives from company's risk exposure policies
• Able to establish reinsurance policies for individual business lines
• Knowledge of standard policy wordings, extensions, and limitations
• Experience in managing, structuring and purchasing reinsurance treaty
• Ability to manage large workloads and tight deadlines
• Knowledge of IFRS 17
• Able to apply advanced mathematical / actuarial concepts and techniques
• Skilled in using Microsoft Excel and core insurance software

Our Benefits

To help you stay energized, engaged, and inspired, we offer a wide range of employee benefits including a competitive compensation package, a robust rewards package, retirement benefits and tools designed to help you build a sound financial future. We also provide an environment that fosters the actualization of goals, and career fulfillment for our people while providing transformational solutions for Africa's challenges.

Flexible Working Arrangement

Coronation's current flexible working arrangement is designed to enable in-person connections and collaboration that is core to our culture such that it provides employees the flexibility of working from both the office (on-premises) and remotely.