Role overview
To develop and manage a strategy and operating model for the Reinsurance department that supports the growth and development of the Mutual & Federal business through optimising the reinsurance spend by negotiating cost effective, appropriately structured reinsurance programmes with secure reinsurers.
Key Responsibilities
- Develop, plan for, implement and take accountability for the strategy and operating model of the Reinsurance Department, partnering with the Executive: Underwriting in response to the business model and Mutual & Federal strategy.
- Establish an aligned departmental Balanced Scorecard focused on the implementation, measuring and management of the departmental strategy.
- Determine the business value chain for the Reinsurance Department and ensure that this value chain is aligned and integrated with the Underwriting Division value chain.
- Develop, implement and manage a leading reinsurance structuring framework that optimises internal value
- Co-design optimal reinsurance structures with assistance from actuarial modelling team and technical underwriting team
- Negotiate and finalise optimum reinsurance structures and programmes with secure reinsurers
- Develop, implement and manage an optimum reinsurance framework for new and existing products and standalone facilities (UMAs) for all geographies
- Develop, implement and manage a leading framework that optimises facultative reinsurance placements
- Provide system specifications for reinsurance transactions and processes
- Communicate with underwriting technical dept regarding any changes or proposed changes to the reinsurance wordings to ensure no gaps in cover and challenge reinsurers on unacceptable restrictions
- Manage the premium, policy and claims administration in the reinsurance processes
- Actively manage and reduce reinsurance risk, overexposures, counterparty risk, and gaps in cover
Experience required
- 7 – 10 years’ experience in financial sector
- 5-10 years’ experience in field of reinsurance
- 3-5 years’ experience in the management of people, at least at manager of manager level
- Experience in Short Term insurance sector a prerequisite
- FIISA or FCII or working towards FIA or FASSA
- And/or Actuarial degree
Please note, interviews for this position will take place at our Careers in Africa Recruitment Summit in London, 16- 18th of May 2014. Relevant candidates will be contacted and invited to attend the event.