Head: Reinsurance

Job Description

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.