Job Listing: Bancassurance Reconciliation Officer (Fresher Jobs)

Organization: DFCU Bank

Duty Station: Kampala, Uganda

About DFCU Bank: DFCU Bank is a rapidly growing commercial bank that offers a range of innovative products and services. Originally established by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC), it operated under the name “Development Finance Company of Uganda Limited.” Subsequent restructuring brought in DEG (Germany) and the International Finance Corporation (IFC) as equal partners alongside CDC and UDC, each holding a 25% stake in the company. The bank’s mission is to support long-term development projects that may not be attractive to existing commercial lending institutions due to financing needs and risk.

Job Summary: As a Bancassurance Reconciliation Officer reporting to the Head of Bancassurance, your role involves ensuring the accuracy and integrity of financial transactions between the bank and insurance partners. You will be responsible for reconciling insurance premiums, commissions, and other financial transactions related to insurance partnerships.

Key Duties and Responsibilities: Your responsibilities include:

  1. Overseeing the reconciliation process for transactions between the bank and insurance partners.
  2. Monitoring premium collection for issued policies and renewals, as well as tracking liens for unpaid insurance, with recommendations to enhance premium collection.
  3. Reconciling all Insurance Suspense accounts, including commission and claims accounts, and ensuring proper posting to Profit and Loss (P&L) accounts.
  4. Processing refunds of unused premiums to provide value for money to customers.
  5. Verifying issued policies against premium collections.

Note: This opportunity is exclusively for university students. Interested candidates should apply through the DFCU Bank careers portal. Details on the application process can be found on our website.

Deadline: 12th April 2024


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