Reinsurance Officer at Coronation Insurance Plc

Job Title: Reinsurance Officer

Principal Duties and Responsibilities
Reinsurance Operations:

• Utilize routine processes and procedures to administer reinsurance and retention, process routine claims, and validate data, files, systems, procedures and identify discrepancies
• Participate on special projects related to reinsurance administration systems, legal contracts/treaties, new product launches and other initiatives
• Provide information to enable the preparation of and rendition of statutory statements such as reinsurance premium, minimum and deposit premium, commissions, treaty renewal statistic on various classes etc. and/or paid on timely basis as applicable.
• Obtain, analyze and document information required to determine inward facultative acceptances with creditworthy Insurance Companies and follow up with counterparties to ensure premiums are received
• Provide information to enable outward facultative reinsurances with creditworthy Insurance Companies in line with set standards.
• Process facultative premium payments on timely basis in line with laid down policies and processes
• Closely monitor/follow up on treaty and facultative claims recoveries and ensure all identified reconciliation items on facultative accounts are acted upon

Analysis and Reporting:

• Perform entry level accounting activities and processes reinsurance account transactions such as journal entry preparation and account reconciliations with direct guidance and supervision.
• Gather, research, and offer support to complete audits in a timely manner, for internal and external audit, and reinsurance business partners.
• Acquire and apply maturing knowledge of the business and gathers information to support reporting and analysis.
• Provide support in the analysis of reinsurance accounts and contractual requirements, including but not limited to exposure/cession based rates/thresholds, limits/retentions, annual aggregate deductibles/limits, loss corridors, application of experience adjustments, monitors large losses.

Team Participation:

• Participate in the orchestration of activities to develop and complete business deliverables including developing and documenting project business requirements and translating those requirements into functional system specifications.

Minimum Qualifications

• Bachelor’s Degree in Insurance, Finance, Accounting or any related discipline.
• 5 – 7 years’ relevant experience inthe  insurance industry
• Experience in the insurance industry would be an added advantage

Competency and Skill Requirements:

• Ability to demonstrate good understanding of business processes
• General understanding of the local and global financial services industry.
• General understanding of trends and recent developments in insurance industry.
• Extensive knowledge of MS Office tools.
• Good problem-solving skills
• Good communication skills – written, oral, interpersonal, and business presentation skills and the ability to effectively interface with senior management, and staff.
• Demonstrated commitment to ethical standards and high level of integrity.
• Strong risk management skills
• General understanding of insurance principles and practices
• General understanding of legal obligations and regulatory compliance
• Good research and analytical skills
• Good finance and accounting skills
• General knowledge of IFRS
• Good knowledge of Reinsurance.

Application Instructions:

The application deadline is 20th June, 2025. Therefore, qualified and interested candidates should send their updated Resume to: [email protected] using the Job Title as the subject of the email.

Note: Only qualified candidates will be contacted. It is important to visit the official website (link found below) for detailed information on how to apply successfully for this vacancy.

Official Job Website : https://coronation.ng/institutional/about-us/coronation-insurance/