Overview
Senior Reinsurance Specialist Jobs in Riyadh, Saudi Arabia at هيئة التأمين | Insurance Authority
Title: Senior Reinsurance Specialist
Company: هيئة التأمين | Insurance Authority
Location: Riyadh, Saudi Arabia
Job Purpose
The Senior Reinsurance Specialist is responsible for supporting the efficient processing and evaluation of reinsurance requests within the Insurance Authority. This role involves assisting in providing input and feedback to the Insurance Companies Supervision Department if requested, processing reinsurance applications, and ensuring compliance with related conditions and legal requirements, issuance reinsurance reports.
Key Responsibilities and Activities:
Operations Management
Implementation of the Division’s policies, regulations, procedures, and controls so that all relevant procedural/ legislative requirements are met while delivering high-quality and cost-effective results.
Reinsurance Requests
Support in the coordination with Insurance Companies Supervision Department regarding the approval process for reinsurance agreements.
Provide input and feedback to the Insurance Companies Supervision Department regarding the approval process for reinsurance agreements if requested
Assist in the collaboration with relevant stakeholders to ensure alignment with regulatory guidelines and industry best practices.
Assist in processing applications from insurance companies for reinsurance agreements.
Verify the fulfilment of related conditions and data requirements, ensuring compliance with regulatory standards.
Follow up with applicants on any missing requirements or documents, providing guidance and support throughout the application process to employees.
Assist in reviewing reinsurance agreements, ensuring compliance with regulatory requirements.
Review the requests related to dealing with re-insurer located in countries with sovereign rate below the threshold.
Review the requests related to insurance company wishes to underwrite risks above there treaty limits by three folds.
Preparing reinsurance related reports.
Perform other activities as and when required.
Qualifications and Requirements:
Knowledge and Experience
3 years or more of relevant experience in Insurance Management and Reinsurance.
Previous experience in government sector or regulatory bodies is preferred.
Education and Certifications
Bachelor’s degree in insurance, Business Administration, Law, Finance or a related field.
Relevant Insurance certification (e.g., CIC, CISR, AFSB) is preferred.
Competencies:
Effective communication
Teamwork
Results-oriented
Stakeholders’ management
