Job Summary
The Accounts Assistant Reinsurance is responsible for assisting the Senior Assistant Manager Reinsurance in reconciling reinsurance balances as well as following up on collection of premium and claims amounts as well as payment of outstanding premium amounts.
Roles and Responsibilities
Managing Reinsurers’ receivable balances in the form of both premiums and claims receivable to ensure these balances are timely collected.
Managing reinsurance premium payments to reinsurers and ensuring that reinsurance premium is promptly paid.
Ensuring that all reinsurance balances are reconciled quarterly and signed off as a control measure before statements are printed.
Regularly making contact with reinsurers, ensuring all relevant debts are managed as necessary and also to resolve any queries arising and reconciling where necessary.
Ensuring the company’s policy credit policy on reinsurance balances is adhered to as well as monitoring credit limits issued to various clients.
Ensuring that proper documents are available for all reinsurance parties before an account is opened.
Overseeing production and issuance of statements for reinsurance balances as well as reports for auditors and management.
Ensuring that reinsurance databases are updated regularly and maintained with current activity.
Ensuring all receipts are promptly allocated to respective reinsurance balances.
Ensuring that information on policies which are to be cancelled are promptly communicated to the underwriting team.
Ensuring the finance reinsurance team regularly contact reinsurers by telephone, e‐mail, letters, and personal visitations for the purpose of collection.
Maintaining an accurate memorandum account for subrogation’s to ensure timely follow up and collection.
Ensure that withholding tax relating to reinsurance balances is promptly paid and accounted for.
Requirements
Academic and Professional Qualifications
Bachelor’s Degree in Accounting, Finance, Economics, Business, or a related discipline from a reputable university.
Professional qualification(s) e.g. ACCA, CPA (K) or equivalent is an added advantage
At least one year’s experience in reinsurance and credit management in a busy finance institution, preferably a General Insurer.
Core Technical competencies
Must be a self-starter, highly organized, and able to work well with people at all levels in the organization
Analytical and creative thinking skills
Project management skills
Good customer relationship management skills (internal and external customers)
Good communication skills, both written and verbal.
Self-motivated but able to work as part of a team.
Good organizational and time-management skills.
Positive attitude, self-motivated, self-driven, and able to work with minimal supervision.
Good negotiation skills and persuasiveness.
Trustworthiness and discretion when handling confidential information.
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