Job Vacancies and Opportunities

Consultant: Reinsurance Analyst

Org. Unit: African Risk Capacity Ltd, Johannesburg, South Africa

Location: Flexible

Closing Date: 02 June

ARC Ltd is seeking a Reinsurance Analyst to join a  team that is making strides in empowering African sovereigns to build resilience against the catastrophic effects of climate disasters; a first for Africa! You will join an insurance company that, in just over 6 years of operations, has led the delivery of pay-outs of more than $60 million to countries affected by drought. If you have more than 5 years- experience in reinsurance or underwriting with  actuarial, mathematics or finance qualifications please contact: achitate@ltd.arc.int  by 2nd June.

The Position

ARC LTD is seeking a Reinsurance Analyst to join a team to successfully implement its strategy towards inclusive growth and sustainability.

DUTIES AND RESPONSIBILITIES:  

  1. Responsibility for all reinsurance related aspects of the company including:
    1. Ensuring technical pricing of assumed business is adequate
    2. Assessing, reviewing and recommending changes to underwriting protocol to capture industry standard practices, latest developments and ARC specific considerations
    3. Review and analysis structure of parametric products offered to clients to assess impact on reinsurance
    4. Input into the development of new products by providing product structures have properties that can be adopted and reinsured into existing or new reinsurance programmes optimally
    5. Contribute to underwriting and reinsurance KPIs
    6. Assists with review, placement, negotiation and coordination of all reinsurance programs
    7. Interpret and implement treaty reinsurance agreements supporting various ARC products
    8. Analyse and control reinsurance contract activity
    9. Secure consistency between insurance and reinsurance coverage
  2. Insurance risk management:
    1. Contribute to underwriting and reinsurance risk appetite, risk capacity, risk limits and risk tolerances
    2. Utilise sophisticated analytical techniques and processes, including internal and third-party modelling tools, to assist ARC in assessing and managing its exposure to risk.
    3. In conjunction with the assessment and management of risk exposure process, design and facilitate customised syndications into the global reinsurance marketplace in line with the risk appetite framework
    4. Manage insurance risk aspects of risk based regulatory regime
  3. Model Validation, Data and Analytics:
    1. Define and implement a model validation framework for all current and future products
    2. Define and implement a data quality framework for use in product development, underwriting and reinsurance
    3. Complete data analysis and reconciliations for quality control of claims attachment and premium registration.  
  4. Insurance Portfolio Performance Reporting and Management:
    1. Maintain established measures of business performance in evaluating and controlling monthly production.  
    2. Partner with ExCo to prepare & evaluate cede premium allocation to accurately impact product financial results
    3. Communicate and resolve issues within business development, underwriting, finance, and reinsurance broker impacting efficient execution of ceded reinsurance programs
    4. Prepare reports for Underwriting and Reinsurance Committee, Risk and Audit Committee and Board as appropriate

5. Other:

    1. Assists in the planning and implementation of special projects and performs other duties and tasks in order to meet company objectives within established time frames

6.Staff Management, Mentoring and Development:

    1. Manage a team of actuarial analysts
    2. Mentor and develop the team

The ideal candidate will demonstrate the following characteristics:

  • Bachelor’s degree within Economics, Finance, Risk Management, Mathematics, Actuarial Science or related field.
  • Professional insurance qualifications
  • Recognised professional Actuarial qualification preferred
  • Previous experience of at least 5 years in (re)insurance and underwriting environment
  • Knowledge of risk management principles, Solvency II and risk based regulatory regimes
  • Ability to apply basic mathematical concepts in communicating complex issues
  • Advanced quantitative, modelling and coding skills a plus
  • Excellent work ethic and organizational skills
  • Strong interpersonal skills and team orientation
  • Innovative thinker with strong analytical and problem-solving skills, including the ability to deal with ambiguity
  • Highly motivated and takes initiative
  • Proven public speaking and presentation skills
  • Excellent verbal and written communication skills with the ability to interact with internal and external customers.
  • Demonstrated successful ability to prioritise and multi-task various and conflicting responsibilities.
  • Demonstrated successful ability to build positive partnerships and work collaboratively with cross-functional business teams.
  • Fluent in business French and English– reading, writing and speaking