Senior Reinsurance Officer

Job Title: Senior Reinsurance Officer

Industry: Insurance | Financial Services

Reports To: Head, Reinsurance / Head, Technical Operations

Location: Nigeria

Work Structure: Full-Time

Remuneration: Competitive

Client Overview
Our client is a leading Nigerian insurance group offering a diverse range of life, general, and specialist insurance solutions to individuals and businesses. The organization is focused on providing effective risk protection solutions while maintaining strong technical standards, sound risk management practices, and sustainable business performance.

Role Summary
Our client is seeking an experienced and detail-oriented Senior Reinsurance Officer to support the effective management of the organization's reinsurance arrangements.
The role will be responsible for coordinating reinsurance placements, maintaining relationships with reinsurers and brokers, monitoring treaty and facultative arrangements, and ensuring accurate documentation, reporting, and settlement of reinsurance transactions.

Key Responsibilities

Reinsurance Administration

• Coordinate the administration of treaty and facultative reinsurance arrangements.
• Prepare and maintain reinsurance documentation, schedules, statements, and correspondence.
• Ensure reinsurance transactions are accurately recorded and processed within agreed timelines.
• Monitor treaty terms, conditions, limits, and obligations.

Reinsurance Placement & Coordination

• Support the placement and renewal of reinsurance programs in line with business requirements.
• Liaise with reinsurance brokers, reinsurers, underwriting, claims, and finance teams on placement and operational matters.
• Obtain and review reinsurance terms, quotations, and supporting documentation.
• Assist with facultative placements for risks requiring additional capacity or specialized protection.

Reinsurance Claims & Recoveries

• Monitor reinsurance claims and recovery processes to ensure timely settlement.
• Review supporting documentation for reinsurance claims and recovery submissions.
• Follow up with reinsurers and brokers on outstanding recoveries and disputed claims.
• Maintain accurate records of recoveries and related correspondence.

Reporting & Reconciliation

• Prepare periodic reinsurance reports, statements, and management information.
• Reconcile reinsurance balances, premiums, commissions, recoveries, and outstanding amounts.
• Identify discrepancies and work with relevant teams to resolve them promptly.
• Support audits and regulatory reporting requirements relating to reinsurance activities.

Risk & Compliance

• Ensure reinsurance activities comply with internal policies, regulatory requirements, and approved treaty arrangements.
• Monitor counterparty exposures and highlight potential reinsurance risks to management.
• Maintain proper documentation and records for audit and compliance purposes.

Requirements

EducationBachelor's Degree in:

• Insurance, Actuarial Science, Finance, Economics, Accounting, Business Administration Or a related discipline.
• Professional qualifications such as ACII, CIIN, or relevant reinsurance certifications are an added advantage.

Experience

• Minimum of 5–7 years of relevant experience in reinsurance, insurance operations, underwriting, or a related technical function.
• Practical experience with both treaty and facultative reinsurance arrangements.
• Experience coordinating with reinsurers, brokers, underwriting, claims, and finance teams.
• Good understanding of reinsurance documentation, premium calculations, commissions, recoveries, and reconciliations.
• Experience within the Nigerian insurance industry is strongly preferred.

Core Competencies

• Analytical Thinking
• Attention to Detail
• Relationship Management
• Negotiation
• Communication
• Problem Solving
• Organization & Planning
• Risk Awareness
• Team Collaboration
• Integrity
• Results Orientation