Overview
Reinsurance Senior Officer Jobs in Khobar, Saudi Arabia at Walaa Cooperative Insurance Co.
The principal responsibility is to ensure that the employee satisfies its obligation by handling all the required reinsurance tasks promptly, such as but not limited to the following:
- Ensure timely and professional handling of all administrative aspects of facultative & treaty operations including the exchange of correspondence with reinsurers and reinsurance brokers and follow-up on the receipt of counter-signed slips.
- To efficiently and effectively manage the FAC RI placements, preparing closings in time, subsequent updating of any endorsement/s to fac participant and filing and documentations
- Coordinate with Underwriting, Claims Finance/Accounts and IT Depts. for proper execution of reinsurance functions of the company, including arranging, submission and settlement of balances due to/by reinsurers.
- Advise loss notification to Facultative reinsurers in timely manner (if any)
- Answer to queries raised by underwriters, brokers and reinsurers as appropriate and follow up the pending issues.
- Ensure timely reporting and settlement of RI balances for all products (Individual Life, Group Life, & Credit Life).
- Responsible to follow up on the inward reinsurance business process (policy issuance, reporting, premium collection, settlement, RI slip,…)
- Handle all treaties maintenance processes and renewal
- Handle and follow up all claims recoveries
- Monitor and update rating records of all reinsurers.
- Prepare/Generate various reports
- Ensure complying with local laws and regulation.
Education
- Bachelor’s Degree
Experience
- Minimum 3 years’ experience in insurance
Personal Attributes / Skills
- Analytical skills – mathematical & statistical
- Attention to detail
- IT skills
- Negotiation and interpersonal skills
- Planning and Organizing skills
- Report writing skills
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Title: Reinsurance Senior Officer
Company: Walaa Cooperative Insurance Co.
Location: Khobar, Saudi Arabia
Category: