Manager, Underwriting 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: Manager, Underwriting

Location: Lagos (but could be later transferred in other geographical production centres of the Corporation)

Job Brief

• We hereby announces the vacancy for the position of Manager, underwriting in her Head Office (Department of Central Operations & Special Risks) based in Lagos, Nigeria, at the Professional Staff category.

Responsibilities

• Reporting directly to the Director of Central Operations & Special Risks, the Manager, Underwriting will be responsible for the underwriting of reinsurance treaty and facultative risks,claims management and governance process, and client relations, cedant account management, marketing and sales
• He shall assure that all related aspects of above functions are handled in a professional and ethical manner and as per the Corporation’s policy and guidelines.

Duties / Job Details

• Under the supervision of the Director of Central Operations & Special Risks, the incumbent will carry out the following functions:
• Receiving treaty and facultative referrals from production centres, assessing such referrals and determining whether to recommend them for Management approval, in line with the Corporation’s underwriting policies/guidelines.
• Providing renewal and new business support to underwriters in the production centres in the form of quotations for complex and special risks.
• Provide input into the Corporation’s pricing philosophy, standards, and development of appropriate pricing tools.
• Keeping track of internal performance, portfolio experience, industry developments and innovations in order to propose changes and updates to the Corporation’s underwriting manual and guidelines.
• Reviewing large and complex claim referrals for Management approval by ensuring the adequacy and validity of all claims supporting documentation, including whether they are timely processed to achieve prompt settlement of genuine claims.
• Championing innovation and product development. Reviewing adequacy of the Corporation’s reinsurance policy wordings and updating the same accordingly in close collaboration with relevant colleagues.
• Participating actively in the Corporation’s various ad-hoc committees and special projects as assigned by the supervisor or Executive Management.
• Contributing actively to the Corporation’s opinion leadership on matters of industry importance through journal and press articles, panel discussions and other relevant appearances.
• Participating actively to the generation, storage and effective dissemination of internal technical expertise to ensure that technical operations staff continuously maintain adequate skills necessary to do their jobs.
• Coordinating with the departments of ICT, Risk Management & Compliance and Technical Inspectors to implement measures for assurance of data quality.
• Monitoring the profitability of all product lines in the Corporation and providing the necessary technical and/or advisory support to the production centres in order to assure progress towards the achievement of profitable growth.
• Collaborating with relevant colleagues to realize excellence in internal/market statistics and other relevant information for the Corporation’s strategic and operational use.
• Participating in and supporting the Corporation’s strategic planning process.
• Providing training, advice, and other forms of technical support to both staff and clients on a regular basis as required.
• Managing cedant accounts with the Corporation through monitoring, reconciliation and communication with the cedants’ relevant counterparties
• Maintaining proper records of all business activities and transactions in accordance with the established procedures of the Corporation.
• Attending to other duties as may be assigned by the Corporation through the supervisor/Management from time to time.

Academic Qualifications
Minimum Qualifications and Experience:

• First University Degree in a relevant field (Insurance, Economics, Statistics / Actuarial, Engineering, Law or other relevant numerate Degree) plus a Master’s Degree and 7 Years Post Qualification relevant qualitative work experience with Emphasis on (Re)Insurance Underwriting Management in a (re)insurance company of comparable complexity.

OR

• First University Degree in relevant field (Insurance, Economics, Statistics / Actuarial, Engineering, Law or other relevant numerate degree) plus Full Professional Qualification in (re)insurance (ACII or Equivalent) and 7 Years Post Qualification relevant qualitative work experience with Emphasis on (Re)Insurance Underwriting Management in a (re)insurance company of comparable complexity.

OR

• First University Degree in relevant field (Insurance, Economics, Statistics/Actuarial, Engineering, Law or other relevant numerate degree) plus 10 Years Post Qualification relevant qualitative work experience with Emphasis on (Re) Insurance Underwriting Management in a (re)insurance company of comparable complexity.
• Relevant Professional Qualification (ACII or Equivalent) would be an added advantage.
• A Post Graduate Degree in insurance would be an added advantage.
• Relevant Work Experience in a Reinsurance company would be an added advantage.
• Relevant Working Exposure in a Multicultural Environment will be an added advantage.

Main Competencies and Skills Required:
Professionalism:

• Strong competences in reinsurance underwriting and good knowledge of insurance, reinsurance, and retrocession.
• Good knowledge and experience in underwriting Engineering, Casualty, Financial lines and/or emerging risks such as Cyber, PVT, etc., including Wordings expertise, risk assessment and claims management practices.
• Keen attention to detail with an ability to retain strategic direction.
• Ability to work under pressure, without close supervision and within established timeframes.
• Ability to multitask and manage change.
• Excellent problem-solving skills (i.e., conceptual, and analytical thinking).
• High level of Integrity and proven sense of responsibility.
• Have very strong and proven managerial skills/experience and good supervisory skills.
• Proficiency in use of Microsoft Office: Word, Excel, PowerPoint, and knowledge of integrated business-related software’s will be an added advantage.

Communication:

• Speaks and writes clearly and effectively with excellent reporting abilities.
• Good communication and training skills.
• Ability to quickly build very good and sustainable relationship with cedants.
• Outstanding interpersonal and communication skills; ability to communicate effectively with technical and non-technical audiences.
• Fluent in one of the two working languages of the Corporation (French or English). Good knowledge of both languages will be an added advantage.

Teamwork:

• Good team player with proven leadership and managerial experience.
• Works collaboratively with colleagues to achieve organizational goals; solicits input and is willing to learn from others.
• Has the ability to defend and explain difficult issues and positions.
• Establishes and maintains effective working relationships in a multicultural, multi-ethnic environment.

Applicants must also be:

• Fluent in English and/or French, and having a working knowledge in the second language shall be an added advantage.
• Nationals of one of the 42 member States of Africa Re.

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

• Competitive Basic Salary on the Corporation’s Professional 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.
• Home Leave to country of origin every year paid by the Employer (if non-national).
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation, paid in local currency.

Application Closing Date
30th June, 2023.

Method of Application
Interested and qualified candidates should:
Click here to apply online

Note

• For any request of additional information or clarification, please an e-mail to [email protected]
• Africa-Re is an equal opportunity employer and offers good working environment commensurate with international organizations.
• The Corporation reserves the right to appoint at the advertised grade level or at any other level that may suit the profile, qualifications and experience of the successful candidate.