Assistant Underwriting Officer at the African Reinsurance Corporation (Africa Re)

The African Reinsurance Corporation (Africa Re) is the leading African reinsurance company with headquarters in Lagos (Nigeria). Africa Re has six regional offices: Casablanca (Morocco), Abidjan (Côte d'Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebene (Mauritius). The Corporation equally has two subsidiaries: African Reinsurance Corporation South Africa Ltd in Johannesburg (South Africa), Africa Retakaful in Cairo (Egypt) and one Local Office in Addis Ababa (Ethiopia).

Africa Re has a broad-based shareholding comprising 41 African member States, the African Development Bank (AfDB), 114 African insurance and reinsurance companies and three non-regional shareholders, including leading global insurers and reinsurers. The Financial Strength and Credit Rating of Africa Re is A by A.M. Best and A - by Standard & Poor’s.

We are recruiting to fill the position below:

Job Title: Assistant Underwriting Officer

Location: Lagos
Employment Type: Full-time

Responsibilities

• The Assistant Underwriting Officer supports Underwriters in daily activities (processing) to provide services to customers.

Duties / Job Details
The incumbent will carry out the following functions:

• Work directly with Underwriters to help manage and support their renewal and new business book.
• Maintain proper records of all business offers and transactions received, concluded, and assigned in the shared folder.
• Ensure that cedants submit relevant underwriting information for risk review and pricing by the Underwriter.
• Establish reinsurance contracts in the SICS reinsurance system.
• Renew all assigned reinsurance contracts in the SICS reinsurance system.
• Ensure that all M&DP are processed for all Non-Proportional treaties in the reinsurance system.
• Liaise with brokers/cedants to ensure that annual accounts/statements such as premium adjustments, commission adjustments, loss participation, and portfolio adjustments are rendered promptly and appropriately for both proportional and non-proportional treaties.
• Review quarterly statements and premium/claims bordereaux, and communicate with brokers/cedants to obtain/clarify information/data where necessary.
• Issue debit/credit notes as appropriate.
• Follow up with brokers/cedants to ensure prompt payment of premiums due to Africa Re.
• Generate monthly production reports and other reports as required.
• Work with the Underwriter to update treaty wording during and immediately after annual treaty renewals.
• Ensure that cover notes/slips/wordings signed are sent out to cedants and brokers promptly.
• Assist the Underwriter in the review of risk referrals for approval/special acceptance.
• Assist the finance team in the reconciliation of cedant and broker accounts and chase outstanding amounts due from them.
• Perform any other duties that may be assigned.

Minimum Qualifications and Experience

• Bachelor’s Degree or Equivalent in Insurance / Actuarial Science or relevant field.
• Minimum of 3 years of relevant work experience in Underwriting field in the Insurance and/or Reinsurance industry.
• Additional professional qualifications in insurance and working knowledge in French language shall be an added advantage.
• Relevant Working Exposure in a Multicultural Environment will be an added advantage.

Main Competencies:

• Basic underwriting skills in property and casualty lines of business.
• Knowledge of appropriate insurance and reinsurance principles and practices.
• Industry knowledge.
• Ability to quickly build good and sustainable relationships and effectively interact with internal and external business partners.
• Good oral and written communication skills, including presentation skills.
• Good interpersonal skills, detail-oriented, and customer service-focused.
• Analytical and problem-solving skills, with the ability to manage and prioritize multiple tasks.
• Ability to work with little or no supervision.
• Ability to multitask and manage change.
• Ability to work collaboratively with colleagues to achieve organizational goals, solicit input, and learn from others.
• Ability to establish and maintain effective working relationships in a multicultural, multi-ethnic environment.
• Good planning and reporting skills.
• Organizational and time management skills.
• Discipline, reliability, and high integrity.
• Ability to work under pressure and adapt to a changing environment.
• Excellent skills in MS Office (Word, Excel, PowerPoint, and Outlook) are required.
• Knowledge of other business-related software is an added advantage.

Applicants must also be:

• Fluent in English
• Working knowledge in French shall be an added advantage.

Salary and Benefits
The successful candidate shall have the following benefits:

• Competitive Basic Salary on the Corporation’s Support 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.
• Inflation Adjustment (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online