Job Title: Senior Reinsurance Officer
Organisation: Statewide Insurance Company Limited (SWICO)
Duty Station: Kampala, Uganda
Reports to: Manager Reinsurance
About the Company:
Statewide Insurance Company Limited (SWICO) is a Ugandan based Leading Insurance Company with branches all over the Country.
Job Summary: To plan, organize for and supervise the provision of reinsurance services, in accordance with established policies and standards of the Company
Key Duties and Responsibilities:
Result Area 1: Planning and organizing for the provision of reinsurance services
- Participate in the formulation of strategies, work plans and budgets for the provision of reinsurance services
- Organize for the provision of the required facilities and resources for the provision of reinsurance services
- Determine performance targets for staff in the position of Reinsurance Officer, and carry out periodic appraisals of their performance against the set targets
Result Area 2: Provision of reinsurance services
- Participate in the preparation of quarterly reconciliation statements for Insurers and Reinsurers to be submitted to IRA
- Participate in the preparation of quarterly reconciliation statements for brokers to be submitted to IRA
- Prepare Reinsurance Credit/Debit Notes
- Participate in the preparation of monthly business production reports
- Prepare profit commission statements for surplus treaties
- Prepare adjustment accounts under excess of loss treaties
- Prepare risk profiles
- Participate in the preparation of statistical returns to Commissioner of Insurance and reconciling with Accountant
- Participate in the preparation and follow up of remittances of re-insurers
- Follow up on recoveries from re-insurers for claims
- Participate in the preparation of quarterly accounts, brokers’ reconciliation, profit commission statements
- Participate in the preparation of quarterly reports for insurance travel businesses taken on to Mapfre (partner for travel insurance)
- Participate in writing letters i.e. requests for supporting documents to assist in claims processing, cover letters attached to cheques and other documents
- Participate in the preparation of reinsurance credit and debit notes
- Participate in the preparation of preliminary loss advice and final loss advice to reinsurers
Result Area 3: Leadership
- Assign work to the staff supervised
- Supervise the work assigned to the staff in the position of Reinsurance Officer, and provide guidance to them as necessary
- Evaluate the performance of the staff supervised, in accordance with company policy
- Participate in assessing the capacity development needs of the Reinsurance Officers and advise on appropriate programs to address the identified needs
- Foster productive teamwork among the staff supervised
- Monitor the motivation levels of the staff supervised, and propose necessary actions to enable the staff perform to their full potential
Result Area 4: Institutional Management and Development
- Come up with ideas and suggestions for improvement in reinsurance services
- Attend and actively participate in meetings of the Department
- Participate in the preparation of periodic reports on the activities of the Reinsurance Department
Qualifications, Skills and Experience:
- Minimum of a University Degree in Insurance, Actuarial Science, Business Administration or Social Sciences or Arts
- Additional Training/Qualifications/Certification Necessary A professional qualification in insurance (CII)
Minimum Experience and Exposure Necessary
- A minimum of 3 years of progressive work experience in Reinsurance, Underwriting or Claims
Key Knowledge Required
- Good knowledge of the insurance industry
- Insurance accounting
How to Apply:
Candidates who had already applied should not re-apply again. Interested persons can deliver applications, detailed curriculum vitae and copies of academic qualifications with two referees addressed to:
The Human Resource Manager,
Statewide Insurance Company Limited
Plot 1, Bombo Road
P.O. Box 9393 Kampala – Uganda.
All CV’s are to be sent on [email protected]
Deadline: 7th February, 2025
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