About the Role
Reporting directly to the Regional Director for Eastern and Southern Africa Region, the Trade Credit & Political Risk Underwriter will be responsible for the development, supervision, and implementation of initiatives designed to ensure that the Corporation achieves its strategy of becoming a leading reinsurer supporting the growth of Trade Credit and Political Risk Insurance in the African continent that is critical for supporting economic development by mitigating risks that hinder global/intra-Africa trade and the related developmental financing activities.
Job Details & Location
- Job Grade: Professional Staff category
- Location: The successful candidate shall be based in Nairobi, Kenya, but could be transferred to other geographical production centers of the Corporation.
Duties & Responsibilities
- Development and marketing of Trade Credit & Political Risk re/insurance business to support the Corporation’s product diversification strategy.
- Key member of the team tasked with implementing initiatives designed to ensure that the Corporation achieves its strategy of becoming a leading reinsurer supporting the growth of Trade Credit and Political Risk insurance in the African continent.
- Provide technical assistance to cedants/clients by supporting them to develop viable strategies necessary for growing and up-scaling Trade Credit and Political Risk insurance in assigned markets.
- Carry out necessary research and analysis to support the growth of Trade Credit & Political Risk insurance business through the adoption of advised risk management techniques and best practices.
- Provide training and technical assistance to cedants/clients and internal staff in relation to Trade Credit & Political Risk Insurance.
- Develop and regularly perform detailed risk portfolio analysis in accordance with Africa Re’s underwriting guidelines.
- Analyze underlying insurance portfolios and reinsurance proposals.
- Develop market knowledge in Trade Credit & Political Risk insurance, analyze/evaluate market information, and gather and document in-depth understanding of the Trade Credit & Political Risk insurance in the markets under supervision.
- Solicit and receive offers from potential and existing clients, assess such offers, and determine whether or not to accept them in line with the Corporation’s underwriting policies/guidelines.
- Prepare renewal and new business quotation proposals to cedants and brokers.
- Maintain proper records of all business offers and transactions received and concluded in accordance with internal rules and underwriting guidelines.
- Attend to client correspondence, social and business functions, and other related activities for overall marketing effectiveness.
- Review facultative acceptances regularly ahead of renewal and review treaty acceptances annually ahead of renewal.
- Ensure all treaties and facultative contracts are processed, and cover notes/slips/wordings are signed and sent out in a timely manner to cedants or brokers.
- Monitor the profitability of markets serviced and progress towards income targets in assigned markets.
- Undertake regular and focused market visits for new business development, renewal, and effective service of existing business.
- Assist in reviewing and monitoring the proper processing of all technical transactions for accepted business offers.
- Ensure all claims reported, cash call requests, and other claims supporting documentation are timely processed for prompt settlement.
- Assist Finance & Technical accounts in reviewing the reconciliation of cedants' and brokers' accounts.
- Support prompt and effective collection of all balances due and outstanding from cedants and brokers while ensuring timely remittance of amounts due to them.
- Attend to other duties as assigned by the Corporation or management from time to time.
Competencies & Skill Requirements
- Underwriting Expertise: Successful track record in Trade Credit & Political Risk Insurance/Reinsurance underwriting. Technical knowledge in Insurance and Reinsurance underwriting, claims, credit analysis, and risk assessment.
- Product Development and Partnership: Practical knowledge and experience in developing and establishing Trade Credit and Political Risk insurance schemes at local, national, and regional levels; public-private partnership management.
- Market Knowledge & Sales: Sound knowledge of African insurance/reinsurance markets and practical sales competencies.
- Management & Leadership: Very strong managerial skills, teamwork, communication, negotiation, cross-cultural, and cross-functional skills.
- Analytical & Planning: Very good planning, reporting, analytical, and reasoning skills.
- Technical Proficiency: Excellent computer skills required in Microsoft Office (Word, Excel, PowerPoint). Practical knowledge of reinsurance-related software is an added advantage.
Minimum Qualifications & Experience
- First University degree plus Master’s degree in Economics, Finance, Insurance, Law, or related discipline plus 10 years post-qualification relevant qualitative work experience with emphasis on Trade Credit & Political Risk Insurance/Reinsurance underwriting (both Treaty and Facultative), credit analysis, re/insurance pricing, claims management, and political risk analysis/assessment.
- OR First University degree in Economics, Finance, Insurance, Law, or related discipline plus full Insurance professional qualification, plus 10 years post-qualification relevant experience in the specified areas.
- Relevant professional qualifications will be an added advantage.
