The African Reinsurance Corporation (Africa Re) is the leading Pan-African reinsurance company and the largest reinsurer in Africa with the Financial Strength and Credit Rating of Africa Re is “A” by A.M. Best and “A“ by Standard & Poor’s.
Headquartered in Lagos (Nigeria) since its inception in 1976, Africa Re operates through
a) six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius),
b) one (1) Contact Office in Addis Ababa (Ethiopia),
c) three (3) Subsidiary Companies (Africa Re South Africa Limited in Johannesburg, South Africa), Africa Retakaful Company Ltd. in Cairo (Egypt) and Africa Re Underwriting Agency in Dubai (UAE).
Africa Re has a broad-based shareholding of
• 42 African member States,
• the African Development Bank,
• 112 African insurance and reinsurance companies, and
• three (3) non-regional shareholders, including leading global insurers, reinsurers and international finance institutions
The successful candidate will provide support to the Technical Accounting and Finance Function of the Regional Office, within the Group’s overall policy & guidelines and consistent with the highest standards of client service.
The main duties of the Technical Accounting Officer shall comprise, amongst others, the following:
a) Establish contracts in SICS, both renewal and new based on signed slips by capturing all relevant details within set timelines.
b) Maintaining proper records of all transactions received and save in the proper folder in SharePoint.
c) Verify Technical Accounts (Proportional and Non-Proportional) received from cedent/broker and make sure proper processing of all technical transactions in the system, including periodic returns, MDPs, premium adjustments, cash call refunds, etc.…
d) Review premium and claim Bordeaux to make sure all are in order before processing technical transactions.
e) Issue confirmation statement debit/credit notes to cedants/brokers after processing transactions.
f) Attending to client correspondences timely and respond appropriately.
g) Provide and deliver quality services to cedants/brokers and internal customers.
h) Generate Statement of Accounts (SOA) periodically and perform periodic accounts reconciliations with respective cedants/brokers for agreement, follow-up settlement of balances.
i) Prepare settlement memo with relevant statement of accounts when account balances are due to Broker/cedent.
j) Cash-matching of receipts and payments with related reinsurance debtors and creditors transactions for assigned Portfolio/ Account.
k) Follow up systematically missing returns (Quarterly/semiannually/ yearly), Premium adjustments, commission adjustments and uncredited cash loss credits.
l) Follow up and request payment details from the cedants/brokers for receipts not supported to facilitate cash-matching.
m) Reconcile balances with Cedants and Brokers.
n) Prepare periodic management reports in collaboration with colleagues in the regional office.
o) Attending internal/external Audit and technical inspections queries timely and take appropriate action based on the recommendations provided within agreed timeline.
p) Attending to other duties as may be assigned by the Supervisor from time to time.
Support Staff Category
The successful candidate shall be initially based in Nairobi, Kenya, but may later be transferred to other regional offices of the Corporation.
Professionalism
Strong competences in reinsurance technical accounting, good knowledge of insurance underwriting and placement of reinsurance & retrocession.
Keen attention to details with an ability to identify issues that need corrections or amendments.
Ability to work under pressure, with tight deadlines and handle volumes efficiently 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.
Proficiency in use of Microsoft Office: Word, Excel, PowerPoint, and knowledge of integrated business-related software’s and willingness to learn.
Capacity to respect confidentiality and professional discretion.
Communication
Speaks and writes clearly and effectively with excellent reporting abilities.
Capacity for analyzing, synthesizing, and reasoning.
Good communication and training skills.
Ability to quickly build very good and sustainable relationships with cedants/brokers.
Outstanding interpersonal skills; ability to communicate effectively with technical and non-technical audiences.
Teamwork
Good team player and willing to assist when called upon.
Works collaboratively with colleagues to achieve organizational goals; solicits input and is willing to learn from others.
Ability to defend and explain difficult issues and positions.
Establishes and maintains effective working relationships in a multicultural environment.
QUALIFICATIONS AND EXPERIENCE:
Applicants shall be holders of:
First University Degree in relevant fields plus full Insurance/Reinsurance/Accounting Professional Qualification, plus 5 years post qualification relevant work experience with emphasis on insurance/reinsurance underwriting and technical accounting (both treaty and Facultative).
Or
First University Degree in relevant field plus 7 years post qualification relevant work experience with emphasis on insurance/reinsurance underwriting (both treaty and Facultative).
Relevant work experience in a reputable Insurance/Reinsurance organization at a similar level is an added advantage.
Relevant Professional qualifications (ACII, CPA, ACCA or equivalent) will be a strong advantage.
GSALARY AND BENEFITS
The successful candidate shall have the following benefits:
a) Competitive Basic Salary on the Corporation’s Support Staff Grade Level.
b) Variable Pay (Annual Performance Bonus).
c) Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer).
d) Children's Education Subsidy for each child up to 26 years (maximum 4 children).
e) Medical Cover for staff and family.
f) Housing Allowance.
g) Dependency Allowance.
h) Transport Allowance
i) Inflation Adjustment (Cost of Living Allowance), which may increase or decrease depending on the economic situation.
Applicants must also be:
a) Nationals of one of the 42 member States of Africa Re.
b) Strong written and oral communication skills in English. A good working knowledge of the second language (French) shall be an added advantage
Interested candidates are requested to visit the Africa-Re website at https://www.africa-re.com/career to complete the online employment form.
Africa-Re is an equal opportunity employer and offers a good working environment commensurate with international organizations.
The Corporation reserves the right to appoint at the advertised grade level or at any other level that best suits the successful candidate's profile, qualifications, and experience.
