Job Title: Reinsurance Officer
Organisation: Jubilee Health Insurance Company of Uganda Limited (JHICU)
Duty Station: Kampala, Uganda
About Organisation:
Jubilee Health Insurance Company of Uganda Limited (JHICU) is the number 1 insurance provider in Uganda. We boost of over 80 years of service provision all over East Africa.
Job Summary: This position works closely with the Chief Finance Officer to support the related reinsurance operations of the Company. The position also involves coordination of local regulatory and group reporting requirements.
Key Duties and Responsibilities:
The following are the key duties and roles of the Reinsurance Accountant:
Financial Reporting
Preparation of treaty quarterly statements to reinsurers & reinsurance brokers
Maintaining and preparation of monthly facultative statements
Ensuring prompt rendering of treaty and facultative accounts to reinsurers and settlement of balances on quarterly basis
Preparing claims statistics information and data for year-end accounts closing
Prepare annual reinsurance returns including portfolio transfers and withdrawal as well as adjustments
Reinsurance Credit Control
Follow up on settlement of balances and claims recoverable from reinsurers.
Coordinate with Claims team for prompt notification of losses to treaty reinsurers and pursue timely recovery of claims.
Handling routine Treaty matters and account queries from Reinsurers.
Financial Controls
Provide claims recoverable by LOB, Reinsurance Company, and broker where applicable.
Prepare claims reports and ensure reconciliations to general ledger postings
Maintain records of claim recoveries – proportional treaties.
Provide monthly claim reconciliations and ensure all claim recoveries accounted for
Maintain record of treaty account balance confirmations.
Financial Planning and Analysis
Supporting the CFO in provision of information for annual budget process
Supporting the Reinsurance Manager in provision of statistics for annual treaty renewal and filing process
Compliance and Internal Controls
Monthly closure of all reinsurance debits and credit notes
Compiling monthly, annual and quarterly statistics for submission to Commissioner of insurance (IRA).
Qualifications, Skills and Experience:
Minimum of three years relevant experience in the financial sector, insurance industry, reinsurance, reinsurance broking, auditing or banking.
First Degree in Statistics, Actuarial, Accounting or a finance related field.
Technical Skills:
Proficiency in financial modeling, data analysis, and reporting tools (e.g., Microsoft Excel or other data visualization software).
Familiarity with insurance accounting software (e.g., SAP, Oracle Financials, or other reinsurance accounting systems) is an added advantage
Knowledge of international reinsurance regulations and standards (e.g., Solvency II, IFRS 17).
How to Apply:
If you are qualified and seeking an exciting new challenge, please apply via [email protected]
Deadline: 11th October 2024
NB: Only shortlisted candidates will be contacted.
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