Senior Manager: Treaty Reinsurance

Found in: beBee S ZA - 2 weeks ago

Johannesburg, South Africa Old Mutual Life Assurance Company (Malawi) Limited Full time
Let's Write Africa's Story Together

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

Old Mutual Insure is looking for forward thinking Senior Manager : Reinsurance who will implement and manage the actuarial and Treaty Management functionality of the reinsurance division with specific emphasis on reinsurance optimization, with oversight of the reinsurance results for the respective business units. Ensure accuracy of key reinsurance technical calculations. Align to improvements of key controls & processes within the reinsurance treaty management function.

You Would :

Manage the actuarial and treaty management functionality of reinsurance with specific emphasis on reinsurance optimization.
  • With the Head: Reinsurance co-design optimal reinsurance structures with assistance from actuarial modelling team and technical underwriting team that support the strategic objectives of Old Mutual.
  • Develop, implement and manage an optimum reinsurance framework for new and existing products and standalone facilities (UMAs) for all geographies.
  • Communicate with underwriting technical departments regarding any changes or proposed changes to the reinsurance wordings to ensure no gaps in cover.
  • With the Head: Reinsurance conclude the reinsurance renewals for reinsurance contracts.
  • Compile comprehensive reinsurance information packs to support renewal.
  • Contribute to the competitive edge of Old Mutual through external networking and benchmarking in industry, international and national forums.
  • With the Head: Reinsurance maintain and develop relationships within the reinsurance market.
  • Analyse and review Ad-hoc reinsurance requests from stakeholders within Old Mutual.
  • Oversee reinsurance for Group subsidiaries
  • Analyse inwards treaty opportunities.
  • Perform an internal stakeholder management role to support the reinsurance requirements of internal divisions and companies in Old Mutual.
  • Manage technical resources to drive efficiency & ensure accurate reinsurance processing
  • Contribute to the development and implementation of fit for purpose budgets.
  • Optimise departmental performance through targeted business intelligence & process optimization to ensure that it becomes the primary way of driving performance and execution


Implementation of Reinsurance operating model, policies and procedures
  • Identify and implement reinsurance process requirements to accurately administer reinsurance structures.
  • Proactively engage to ensure accurate reporting for manually captured reinsurance values for off platform partners.
  • Review and vet manual transactions calculated and processed for reinsurance.
  • Compile results and provide insight on outwards treaties movements in management regulatory reporting.
  • Conduct review of inwards treaty amounts.
  • Compile and provide external & internal audit responses & regulatory reporting data provision.


Service delivery to ensure customer satisfaction
  • Maintain service, quality and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures and standards.
  • Establish productive operational relationships with key stakeholders in the various channels and administrative teams.
  • Develop work routines in line with operational plans / schedules in order to manage achievement of service delivery goals.
  • Share knowledge on, and participate in the creation of new standards, control systems and procedures to maintain service delivery.

    Cost control and governance adherence
  • Proactively ensure use of time, of resources, money, materials or equipment is in line with policies and procedures.
  • Comply with corporate governance policies, procedures and standards.
  • Operate within agreed mandates.

    Quality people practices
  • Align own behaviour with the organisation culture and values.
  • Share and transfer product, process and systems knowledge to colleagues.
  • Ensure achievement of own performance objectives.
  • Actively share information with other team members regarding successes, issues, trends and ideas.
  • Actively participate in own professional development and career path.
  • Actively promote a culture of learning and high-performance culture amongst team members.


Minimum Job Requirements. Skills and Experience .
  • Relevant Bachelor's degree (Actuarial, Insurance & Risk, finance)
  • 5 - 8 years' experience accounting and financial administration experience
  • 3 - 5 years' experience in Reinsurance environment. Treaty being optimal


Skills

Education

Bachelors Degree (B) (Required)

Closing Date

26 April 2024

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutual's Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

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