The African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company and the largest re-insurer in Africa. Headquartered in Lagos (Nigeria), Africa Re operates through six (6) Regional Offices across Africa: Casablanca (Morocco), Abidjan (Cte dIvoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Port Louis (Mauritius) and one (1) Contact Office in Addis Ababa (Ethiopia). It also has three (3) Subsidiary Companies (Africa Re South Africa Limited in Johannesburg (South Africa), Africa Retakaful Company Ltd. in Cairo (Egypt) and Africa Re Underwriting Agency in Dubai (UAE). Africa Re has a broad-based shareholding of 42 African member States, the African Development Bank, 113 African insurance and reinsurance companies, and three (3) non regional shareholders, including leading global insurers, reinsurers and international finance institutions. The Financial Strength and Credit Rating of Africa Re is A by A.M. Best and A by Standard & Poors. DUTIES & RESPONSIBILITIES The successful candidate will provide support to the Technical Accounting and Finance Function of the Regional Office, within the Group’s overall policy & guidelines and consistent with the highest standards of client service. The main duties of the Technical Accounting Officer shall comprise, amongst others, the following: Establish contracts in SICS, both renewal and new based on signed slips by capturing all relevant details within set timelines. Maintaining proper records of all transactions received and save in the proper folder in SharePoint. Verify Technical Accounts (Proportional and Non-Proportional) received from cedent/broker and make sure proper processing of all technical transactions in the system, including periodic returns, MDPs, premium adjustments, cash call refunds, etc.… Review premium and claim Bordeaux to make sure all are in order before processing technical transactions. Issue confirmation statement debit/credit notes to cedants/brokers after processing transactions. Attending to client correspondences timely and respond appropriately. Provide and deliver quality services to cedants/brokers and internal customers. Generate Statement of Accounts (SOA) periodically and perform periodic accounts reconciliations with respective cedants/brokers for agreement, follow-up settlement of balances. Prepare settlement memo with relevant statement of accounts when account balances are due to Broker/cedent. Cash-matching of receipts and payments with related reinsurance debtors and creditors transactions for assigned Portfolio/ Account. Follow up systematically missing returns (Quarterly/semiannually/ yearly), Premium adjustments, commission adjustments and uncredited cash loss credits. Follow up and request payment details from the cedants/brokers for receipts not supported to facilitate cash-matching. Reconcile balances with Cedants and Brokers. Prepare periodic management reports in collaboration with colleagues in the regional office. Attending internal/external Audit and technical inspections queries timely and take appropriate action based on the recommendations provided within agreed timeline. Attending to other duties as may be assigned by the Supervisor from time to time. Academic Qualifications QUALIFICATIONS AND EXPERIENCE: Applicants shall be holders of: First University Degree in relevant fields plus full Insurance/Reinsurance/Accounting Professional Qualification, plus 5 years post qualification relevant work experience with emphasis on insurance/reinsurance underwriting and technical accounting (both treaty and Facultative). Or First University Degree in relevant field plus 7 years post qualification relevant work experience with emphasis on insurance/reinsurance underwriting (both treaty and Facultative). Relevant work experience in a reputable Insurance/Reinsurance organization at a similar level is an added advantage. Relevant Professional qualifications (ACII, CPA, ACCA or equivalent) will be a strong advantage.
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Technical Accounting Officer At African Reinsurance Corporation (Africa Re)
African Reinsurance Corporation (Africa Re)
Insurance
full time
Nairobi
Posted 20 hours ago