Group: Reinsurance Analyst
The Re-insurance Analyst will provide the required support in the implementation of Wapic’s reinsurance strategy. They will be involved in gathering data from internal and external sources to deepen understanding of risk transfer needs, pricing environment, available options as well as its impact on the organization
Functions & Responsibilities
- Identify facultative and treaty placement needs and annual contract language review/changes.
- Proactively identify gaps that may bring about recovery disputes
- Provide support to corporate underwriting by tapping into reinsurance relationships for expertise in new products and providing reinsurance solutions to help manage underwriting risk appetite.
- Effectively manage treaty renewal process in conjunction with brokers, corporate underwriting and actuarial department to identify and gather information necessary for each reinsurance treaty submission.
- Provide comprehensive analysis related to reinsurance purchase including but not limited to analysis of received quotes, quoting behavior, treaty structure, year on year changes in treaty cost, budget to actual treaty cost, comparison of direct policy pricing vs. facultative pricing, etc.
- Research on and profile reinsurance partners and clients
- Closely monitor treaty and facultative recoveries and ensure all identified reconciliation items on facultative accounts are acted on
- Consistently monitor and report on financial stability of reinsurance partners to management
Required Qualification /Experience/ Professional Membership
- A good first degree in social/physical sciences, preferably Insurance, Actuarial Science, Mathematics, Statistics, Finance or Economics. Preference will be given for MBA.
- An Insurance professional certification is compulsory
Required Skills / Competencies
- Knowledge and understanding of the Nigerian Insurance Sector
- Extensive Knowledge of core Underwriting in all classes of insurance
- Extensive Knowledge of reinsurance in all classes of insurance
- Excellent customer relationship development/management
- Good negotiation, problem-solving and conflict resolution
- Creative and innovative
- Knowledge and understanding of commercial financial products
- Good product development and portfolio management capabilities
- JOB ID:010
- CLOSING DATE:31 May, 2017
This job opening is already closed.