Assistant Manager - Reinsurance Operations

Overview

This position involves comprehensive management of reinsurance contract processes including treaty and FAC arrangements, financial reconciliations, and reporting. The Assistant Manager will execute cession calculations, verify premium and loss data, prepare financial documents like bordereaux and invoices, and manage cash and regulatory reports with precision and timeliness.

Key Responsibilities

• Manage reinsurance contracts such as Treaty and FAC setups, performing precise cession calculations and validations.
• Prepare and dispatch financial documents including bordereaux, XOL, and FAC billings to brokers and reinsurers.
• Monitor and collect outstanding recoverables while addressing market-related queries.
• Review invoices and reconcile receivables and payables, ensuring settlement and agreement on Losses Outstanding Reserves (LORS).
• Oversee cash reconciliations and perform appropriate allocations.
• Support manual journal entries and allocation processes including topside allocation and deposit premium adjustments.
• Generate management and regulatory reports adhering to compliance standards.

Essential Skills and Competencies

• Strong verbal and written communication capabilities paired with solid analytical skills.
• Sound decision-making ability with a commitment to achieving objectives and accountability in task completion.
• Ability to maintain a balance between quality, customer service, and productivity expectations.
• Capacity to prioritize multiple responsibilities effectively and demonstrate keen attention to detail.
• Proficient problem-solving abilities and adeptness at working under pressure to meet deadlines.

Qualifications and Experience

• Bachelor’s or Postgraduate degree in Commerce.
• Minimum 4 years of relevant experience for Assistant Manager in reinsurance operations or accounting.
• Client management experience preferred.
• Advanced proficiency in Microsoft Excel functions including IF, VLOOKUP, HLOOKUP, Pivot Tables, and INDEX-MATCH, along with PowerPoint skills.
• Certifications in Property & Casualty Insurance are an advantage.
• Familiarity with London Market reinsurance operations is desirable.