Reinsurance Officer; Sharq Insurance Job Doha area,Qatar,Finance & Banking

Position: Reinsurance Officer (Sharq Insurance)

The incumbent will be responsible for regular placements of facultative involved policies along with timely preparation & submission of all the relevant documentations, system bookings & controls in effective & efficient manner, while strictly adhering to comply with procedural controls set by organizations Management.

Detailed

Roles and Responsibilities:

Assist in obtaining Fac RI support of renewal & new account. Pursue reinsurers/ brokers for required capacities and competitive terms.

Submit & obtain Lead Reinsurers’ confirmation of special cession as per underwriting department’s request.

Maintain record of treaty special cession/ policy status.

Preparing and Sending monthly Facultative Closing Credit Notes / Debit Notes to Facultative Reinsurers / Brokers and ensure monthly reconciliation of premium balances by obtaining counter party documents.

Checking the consistency or reinsurance apportionments both in the Treaty and Facultative involved policies in the premia application software system.

Duties involved on company’s monthly closing activities with regards to entries of Facultative RI participants details, treaty distribution approvals in the premia system, sending out closing reports to Finance Department.

Credit control and monitoring of facultative premium payment to reinsures / brokers as per PPW clause.

Ensure compliance with Reinsurance policies & procedures document and instructions issued department heads.

Maintain highest standards of confidentiality, professional conduct, ethics, and integrity in the provision of services in the section.

Any additional duties/ tasks assigned by the Department Heads or Head of Underwriting.

Core

Skills:

Possess Technical Knowledge of General Insurance underwriting and Treaty Reinsurance.
Good understanding of proportional & non-proportional reinsurance placements.
Accounts reconciliation with RI counter parties.
Familiarity with facultative reinsurance placements and related post service activities, like rendering premium closings, reconciliation of balances and meeting PPW deadlines.
Ability to understand premium & claim bordereaux can prepare quarterly treaty statements of accounts.
Efficient enough to complete assigned tasks well within deadlines.
Well versed with the regulatory requirements and compliance framework.
Knowledge of methods used in performing risk analysis and business impact analyses
Understanding of financial due diligence of reinsurance counter parties
Customer service/experience of underwriting to support upsell & cross sell.
Ability to analyze the business challenges and apply commercial solutions within defined corporate framework.
Proficient in PREMIA System.
Expert in MS Office especially Excel.

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