Consultant: Reinsurance Analyst
Org. Unit: African Risk Capacity Ltd, Johannesburg, South Africa
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: email@example.com by 2nd June.
ARC LTD is seeking a Reinsurance Analyst to join a team to successfully implement its strategy towards inclusive growth and sustainability.
DUTIES AND RESPONSIBILITIES:
- Responsibility for all reinsurance related aspects of the company including:
- Ensuring technical pricing of assumed business is adequate
- Assessing, reviewing and recommending changes to underwriting protocol to capture industry standard practices, latest developments and ARC specific considerations
- Review and analysis structure of parametric products offered to clients to assess impact on reinsurance
- 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
- Contribute to underwriting and reinsurance KPIs
- Assists with review, placement, negotiation and coordination of all reinsurance programs
- Interpret and implement treaty reinsurance agreements supporting various ARC products
- Analyse and control reinsurance contract activity
- Secure consistency between insurance and reinsurance coverage
- Insurance risk management:
- Contribute to underwriting and reinsurance risk appetite, risk capacity, risk limits and risk tolerances
- Utilise sophisticated analytical techniques and processes, including internal and third-party modelling tools, to assist ARC in assessing and managing its exposure to risk.
- 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
- Manage insurance risk aspects of risk based regulatory regime
- Model Validation, Data and Analytics:
- Define and implement a model validation framework for all current and future products
- Define and implement a data quality framework for use in product development, underwriting and reinsurance
- Complete data analysis and reconciliations for quality control of claims attachment and premium registration.
- Insurance Portfolio Performance Reporting and Management:
- Maintain established measures of business performance in evaluating and controlling monthly production.
- Partner with ExCo to prepare & evaluate cede premium allocation to accurately impact product financial results
- Communicate and resolve issues within business development, underwriting, finance, and reinsurance broker impacting efficient execution of ceded reinsurance programs
- Prepare reports for Underwriting and Reinsurance Committee, Risk and Audit Committee and Board as appropriate
- 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:
- Manage a team of actuarial analysts
- 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