Introduction of the Corporation
The African Reinsurance Corporation (Africa Re) is the leading Pan-African reinsurance company and the largest re-insurer in Africa. Headquartered in Lagos (Nigeria), Africa Re operates through six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius) and two (2) Contact Offices in Addis Ababa (Ethiopia) and Khartoum (Sudan). It also has 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, 113 African insurance and reinsurance companies, and three (3) non regional shareholders, including leading global insurers, reinsurers and international finance institutions.
The Financial Strength and Credit Rating of Africa Re is A by A.M. Best Company and A– Standard & Poor’s.
Africa Re announces the vacancy for the position of an Accounting Professional in her Mauritius Regional Office to be based in Ebène (Mauritius) on the Professional Staff Grade level.
The successful candidate shall give support to the Head, Finance & Administration (HFA) in providing timely and accurate financial information to Regional Management and the Finance & Accounts Department at the Head Office; ensure the safe keeping of the Corporation’s assets and proper maintenance of all accounting books, records and documents of the regional office, in accordance with the Corporation’s financial regulations and international accounting standards as well as perform the administrative function in accordance with the office rules and regulations.
The main duties of the Accounting Professional shall comprise, amongst others, the following:
- Support the HFA in the preparation of the annual budget and controlling its implementation after due approval;
- Deputize the HFA in Mauritius Office and providing relief to other designated HFA’s in their absence.
- Prepare periodic management information reports on the implementation of the budget and providing analytical information on material variances;
- Detail verification, reconciliation and management of cedants balances and record keeping. He/she will also provide technical accounting support to the Head, Finance & Administration (HFA) and the underwriting team.
- Supervise the Finance & Accounts department team in the routine processing of financial and technical transactions, safe keeping of assets as well ensure regular periodic reconciliation of all general ledger accounts;
- Support the HFA in managing the Region’s liquidity and investments by working with the Investment Committee to ensure a balanced mix of security and optimal return on the Corporation’s financial assets maintained in the Region;
- Liaising with the Underwriting team to ensure timely processing of technical entries and taking responsibility for the custody, processing and management of the collections
- Support the HFA in the management of the Region’s human and material resources and the administration and maintenance of the Corporation’s properties including collection of rentals from tenants in the Region
- Manage the relationship with the internal and external audit functions as concerns the Region’s financial records and transactions
- Manage the relationship with bankers – ensuring periodic substantiation of the balances, reviewing the relationship terms and processes for effectiveness on a regular basis, clearing any unspecified debit or credit entries on the bank statements, and negotiating terms and conditions of business transactions with the banks
- Review the monthly bank reconciliation statements and ensuring prompt clearance of all reconciling items
- Manage the purchasing function and the resulting relationship with suppliers, and working with the Tender & Asset Disposal Committee to obtain the best terms for acquiring and disposing the Corporation’s assets
- Ensure the timely rendition of all required reports relating to the Finance & Accounts function on clients, for consolidated reporting to the Head Office
- Attend to any other duties as may be assigned by Supervisors and the Corporation’s Management from time to time.
The successful candidate shall be based in Ebène (Mauritius).
MAIN COMPETENCIES REQUIRED FOR THIS POSITION
- Expert knowledge of Financial and Technical Accounting
- Comprehensive knowledge of Insurance/Reinsurance environment.
- Keen attention to detail with an ability to retain strategic direction.
- Ability to work 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.
- Proficiency in use of Microsoft Office: Word, Excel, PowerPoint, and knowledge of integrated business-related and accounting softwares will be an added advantage.
- Speaks and writes clearly and effectively with excellent reporting abilities
- Outstanding interpersonal and communication skills; ability to communicate effectively with technical and non-technical audiences.
- Fluent in one of the two working languages of the Corporation (French or English). Good knowledge of both languages will be an added advantage.
- Good team player with proven leadership and managerial experience
- Works collaboratively with colleagues to achieve organizational goals; solicits input and is willing to learn from others
- Has the ability to defend and explain difficult issues and positions
- Establishes and maintains effective working relationships in a multicultural, multi-ethnic environment
- Must have occupied similar positions.
QUALIFICATIONS AND PROFESSIONAL EXPERIENCE
Applicants shall be holders of
- Minimum of a Bachelor’s/Master's Degree in Finance/Accounting or any related discipline and a minimum of 5 years post qualification work experience;
- University degree in relevant fields, Professional qualification, and a minimum of 5 years post qualification work.
- University degree in relevant field and 10 years post qualification work experience, six (6) years must have been in a Financial/Technical Accounting position, with at least four (4) years in similar roles preferably in the insurance/reinsurance industry.
- Relevant work experience in the financial services sector and/or in international finance institutions or at similar level is required.
- Relevant working exposure in a multicultural environment will be an added advantage.
- Relevant Professional qualifications will be added advantage
- Able to communicate effectively (written and oral) in French
- Working knowledge of English and/or Portuguese will be an added advantage.
Salary & Benefits
SALARY AND BENEFITS
The successful candidate shall have the following benefits:
- Competitive Basic Salary on the Corporation’s Professional Staff Grade Level
- Variable pay (Annual Performance Bonus)
- Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer)
- Children education subsidy for each child up to 26 years (maximum 4 children)
- Medical cover for staff and family;
- Housing Allowance
- Home leave to country of origin every year paid by the employer (if non-national);
- Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.
Procedure for Application
PROCEDURE FOR APPLICATION
Interested candidates for this positions are requested to visit the Africa Re website (africa-re.com/career) to complete the employment form and upload their curriculum vitae.
The Company reserves the right to appoint at the advertised level or at any other level that may suit the profile, qualifications and experience of the successful candidate.
CLOSING DATE FOR RECEIVING APPLICATIONS
Closing date for submission of applications: 10 July 2022