Reinsurance Specialist

Job Classification

Job Requisition - 138833
Closing Date - 22 April 2025
Location - Johannesburg
Cluster - Nedbank Wealth - Division - Nedbank Insurance - Client Solutions 
Please Note: Preference will be given to applicants from Underrepresented Groups

Job Family

Career Stream

Leadership Pipeline

FAIS Affected

Job Purpose

To help drive and deliver the reinsurance capability within Nedbank Insurance including engagement with both internal and external clients, in line with Nedbank’s Client Value Proposition. This role will focus on the delivery of the reinsurance deliveries across our life and short-term insurance product sets. 

Job Responsibilities

• Perform finance related functions relating to reinsurance including reporting, payments, claim recoveries, debt management and debtor management
• Monitors reinsurance claims administration including claim notification and facilitating recoveries
• Review reinsurance contracts and documents reinsurance arrangements in accordance with the Nedbank Insurance's procedures and controls
• Assistance with the quarterly and annual SAM valuations from a reinsurance perspective
• Technical assistance on reinsurance, reinsurance tenders and treaty performance monitoring
• Improvement and automation of existing processes with a strong focus on risk management
• Ensuring compliance (brand/reputation/other risks) by enforcing regulations; policies and procedures and understanding link from policy - process- system - operating procedures
• Developing and managing relationships with reinsurers through communication and networking as determined by Nedbank Insurance's needs
• Annually review current reinsurance programs and program structures and evaluates alternatives, formulates options and recommends changes
• Preparation of reinsurance renewal market presentation and presents to reinsurers
• Negotiates and arranges reinsurance placements (Treaty and Facultative)

Job Responsibilities Continue

People Specification

Essential Qualifications - NQF Level

Preferred Qualification

Degree in Accounting, Business, Finance or Actuarial Science 
 

Essential Certifications

Preferred Certifications

Minimum Experience Level

Must have 2 - 3 years in a reinsurance relationship management in a reinsurance or insurance environment

Must have 2 - 3 years exposure to reinsurance reporting and management in either life or short-term insurance

Must be able to work independently and as a part of a team

Must be able to interact and communicate effectively within a finance environment

Must be proficient at MS Office

R Experience will be an advantage, but not a requisite

Technical / Professional Knowledge

Behavioural Competencies