Director, Central Operations & Special Risks

Lagos, Nigeria
Closing date for applications 2019-02-28
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Introduction of the Corporation

The African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company, the largest re-insurer in Africa and the Middle East in terms of net reinsurance written premiums and among Top 40 Global Reinsurance Groups by 2018 S&P Ranking.

Headquartered in Lagos (Nigeria) with diplomatic status in its current 41 African member countries, 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) as well as one (1) Contact Office in Addis Ababa (Ethiopia). It also has two (2) Subsidiary Companies - Africa Re South Africa Ltd in Johannesburg (South Africa) and Africa Retakaful and in Cairo (Egypt).

Africa Re has a broad-based shareholding of 41 African member States; the African Development Bank; 111 African insurance and reinsurance companies; and four (4) non regional shareholders, including leading global insurers, reinsurers and international finance institutions.

The Financial Strength and Credit Rating of Africa Re is A (Stable Outlook) by A.M. Best Company and A – (Stable Outlook) by Standard & Poor’s.

Job Grade & Duties

Africa Re announces the vacancy of the position of Director, Central Operations & Special Risks in her Head Office in Lagos (Nigeria) on the Executive Staff Grade level.


Reporting directly to the Group Deputy Managing Director/COO (DMD/COO), the Director, Central Operations & Special Risks will assist central management in planning and implementing the strategy of the underwriting function and ensuring that the set targets and the overall goals of the Corporation are achieved.


The duties of the Director, Central Operations & Special Risks shall comprise amongst others:

• Under the dual supervision of the Group GMD/CEO and the Group DMD/COO, to design and negotiate cost effective and operationally efficient retrocession programmes in order to enhance the corporation’s ability to realise its objectives.

• Monitor the technical operations of production centres guiding them, giving back office support and repositioning them for better effectiveness

• Supervise the computation of the technical reserves of the corporation and submit the records to Management.

• In dealing with rating agencies, to ensure that the underwriting performance and the retrocession programmes are well understood and represented so as to enhance the reputation of the corporation.

• To initiate, guide and coordinate research activities related to the underwriting function so as to enhance the overall effectiveness of the corporation

• To initiate and enhance relevant training activities for the benefit of ceding companies and staff

• To monitor and guide the special risks operations

• To manage and monitor acceptance and underwriting authority levels

• To evaluate the potential impact on underwriting income and profitability of changes in pricing factors

• To ensure compliance with the Africa Re's policies and procedures for the processing of risks

• To ensure authority limits and underwriting controls are used effectively to manage exposure for the region.

• To manage retrocession facilities in relation to the claims notification and investigation process.

• To determine and review the process for settling claims in line with own organization’s strategy

• Attending to any other duty as may be assigned by the Corporation’s executive management from time to time.


The successful candidate shall be based in Lagos (Nigeria).

Main Competencies


• Strong theoretical, professional and practical knowledge of underwriting and marketing in the reinsurance industry.

• Very good technical knowledge of the classes of business (underwriting and claims).

• Professional technical competence in retrocession

• Strong skills in business development

• Detailed knowledge of data sources in (re)insurance industry and working knowledge of other data sources.

• Good skill in business software tools: Word, Excel, Power Point, RMS.

• Ability to work well with all levels of management and across group operations

• Strong team player and proven leadership and managerial skills/experience;

• Excellent analytical, planning and reporting skills;

• Capacity for synthesizing and reasoning;

• Well-developed communication and interpersonal skills;

• Impeccable bias for action and strategic disposition;

• Customer focused;

• Unquestionable integrity and proven sense of responsibility

• Ability to work under pressure

• Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint, etc.)

Academic Qualifications


Applicants shall be holders of

• Bachelor in Insurance , Actuarial Science or related field plus Masters or equivalent, and post-graduate in relevant field from a recognized university, plus 11 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions


• Bachelor in Insurance , Actuarial Sciences or related field from a recognized university plus full Professional qualifications , plus 11 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions


• Bachelor of Insurance or related field from a recognized university plus 14 years post qualification relevant qualitative work experience in the financial services sector and/or in international finance institutions.

• Professional membership of an internally recognized associations will be an added value

• Relevant work experience in the financial services sector and/or in international finance institutions or at similar level is required.

Salary & Benefits


The successful candidate shall have the following benefits:

· Competitive Basic Salary on the Corporation’s Executive 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.

Additional Requirements

Applicants must also be:

• Fluent in English or French

• Good working knowledge of the other language will be an added advantage.

Procedure for Application


Interested candidates for this positions are requested to visit the Africa Re website ( 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 submission of applications: February 28, 2019