Job Title: Manager Reinsurance
Employment Type: Full-time
Organization: NIC General Insurance Ltd
Location: Kampala, Uganda
Deadline for Application: May 1st, 2024, 17:00 hours

About NIC General Insurance Ltd:
NIC General Insurance Ltd is a wholly owned subsidiary of NIC Holdings Limited. Established in compliance with the legal requirements for the separation of insurance businesses under the Insurance (Amendment) Act, NIC General is a leading provider of insurance and financial services in Uganda.

Job Description:
NIC General Insurance Ltd is seeking an experienced individual to fill the position of Manager Reinsurance. The role involves acting as a bridge between primary insurance agencies and reinsurance companies by analyzing insurance accounts, reviewing insurance plans, and managing accounts for reinsurance firms.

Responsibilities:

  • Perform monthly, quarterly, and yearly closing processes on reinsurance.
  • Ensure the general ledger reflects all accounting transactions for the given period and conduct reconciliations.
  • Evaluate and process complicated domestic and international reinsurance unspecified treaty accounts.
  • Review profit commissions accounts and adjust retrospective premiums.
  • Collaborate with cedant accounts statements.
  • Recommend implicit and ceded reinsurance accounts to management along with policies and claims processing.
  • Maintain all accounts correctly in compliance with agreement terms.
  • Conduct balances recovery on complicated reinsurance accounts.
  • Identify key changes in incurred losses and leftover balance loss reserves.
  • Prepare reinsurance analysis reports for management review.
  • Develop financial illustrations for various pooling and captive arrangements.
  • Analyze reinsurance and claim coverage issues in relevant contracts and provide analysis and coverage opinions.
  • Drive active pursuit of reinsurance recoveries on delinquent or aging reinsurance recoverables.
  • Communicate effectively with reinsurers to develop business relationships and report on claims.
  • Ensure appropriate documentation, implementation, and communication of established policies, procedures, and operating standards.
  • Monitor and evaluate activities to identify potential risks and issues of non-compliance.
  • Perform any other duties assigned by the supervisor.

Requirements:

  • Bachelor’s degree in Business Management, Actuarial Science, or related field.
  • ACII or other Insurance Related Professional Qualification is desirable.
  • Over 10 years of experience in a similar position.
  • Expert knowledge in reinsurance and risk management.
  • Superior analytical and quantitative skills.
  • Strong understanding of global and regional business environments.
  • Proactive and action-driven with strong leadership skills.
  • Excellent communication and presentation skills, both written and spoken.
  • Strong networking and relationship capabilities.
  • Excellent influencing and persuasion abilities.
  • Good entrepreneurial and commercial thinking.

Application Procedure:
If you possess the aforementioned professional and academic qualifications and are ready to execute the above mandate, kindly send your resume to the email address below, indicating the job title in the subject line. For example: Ref: Application for Manager Reinsurance.
Strictly apply through email: vacancy@nic.co.ug
The application should reach NIC General Insurance Ltd by Wednesday, May 1st, 2024, at 17:00 hrs.
Please note that only short-listed candidates will be contacted.

 

 



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