Job Opportunity at Old Mutual /UAP Insurance, Administration Specialist (OMAO)
Job DescriptionTo monitor the various reinsurance arrangements including treaty and facultative reinsurance protection for all classes of business written by the company in line with the companies operating manuals
Key outputs
The following key outputs are required from this role.
To perform routine reinsurance administrative duties, such as maintaining records.
To verify and process payments for reinsurance companies by providing status reports on payments.
To organize and prepare monthly and quarterly reports on reinsurance
To record reinsurance information accurately.
To perform reconciliation of premium billing statements, WHT tax calculations and maintain various reinsurance registers.
To provide guidance to underwriting, claims and finance teams on reinsurance.
Train new staff on the Reinsurance product
Deliverables (work elements)
The following detailed outputs are required from this role.
To analyze the risks accepted and ensure risks are yielded properly
To obtain all necessary underwriting information required to place the risk in the reinsurance market.
To arrange proper reinsurance protection as and when required
To manage the administration of the reinsurance activities
To monitor timely submission of closing and accounting documents as well as for settlement of premium recovery of claims from reinsurers
To maintain accuracy of reinsurance contracts with reference to original terms at which reinsurance is accepted
To maintain efficient communication lines between the company and brokers
To prepare reinsurance underwriting and claims statistics on a regular basis and update the same at periodic intervals as per requirements.
To review reinsurance payments/recoveries relating to reinsurance premium, commissioning and claims
Skills
Education
BA: Actuarial Science (Required)
The deadline for submitting the application is 08 April 2022.
