Strategic and monitoring role of the Reinsurance Departments.
Main Functions and Responsibilities:
1. Plan an effective departmental structure for the department.
2. Devise a logical and smooth work flow.
3. Coordinate with IT to have a proper IT system in place in line with business
requirements.
4. Set procedures for initiating reviews.
5. Set up proper systems to identify recoveries.
6. Maintain liaison with brokers, ceding companies, underwriters and reinsurers.
7. Maintain close relationship with principal insurers/ reinsurers/ retrocessionaries in
order to ascertain their views on problematical issues.
8. Regular and structured meetings with major clients/ insurers/ Account Executives.
9. Awareness of the current underwriting practice.
10. Coordination with HR on training of staff – emphasis on awareness of current market
practices, knowledge of best practice.
11. Ability to advice customers on material developments pertaining to the claim.
12. Preparing suitable responses to the insurer on behalf of the client or the Account
Executive negotiating on their behalf.
13. Ability to question all ambiguities and seek clarification from client where necessary.
14. Demonstrates knowledge and understanding of the nature and sources of law, the law of tort, law of contract, the insurance contract and their application in the local and overseas.
15. Technical underwriting analysis, geocoding and pricing, liaising with engineers for
technical assessment and risk grading.
16. Understands and applies rules relating to taxes, levies and policy issuance, Data Protection Act, Money Laundering, Client Monies and Terms of Business Agreement (TOBA).
17. Ensures supplementary work procedures are in place and adhered to within the
departments.
18. Ensures appropriate workflow controls for monitoring work in progress and the timely completion of processes in accordance with the Operating Procedures Manual (OPM) and any technical/policy requirements is in place.
19. Produces accurate and timely management information as required.
20. Understanding and application of fundamental legal and regulatory policy in relation to
the insurance contract.
21. Advise on the legal requirements of the client as applicable to insurance.
22. Demonstrates awareness of the changes and development in regulation and the impact
these have on the business both local and overseas.
23. Demonstrates a good understanding of regulatory requirements and the impact these
have on the business.
24. Monitoring the Financial Security of Insurance / Reinsurance companies.
25. Identifies and mitigates conflicts of interest.
26. Demonstrates proficiency in the use of Company’s systems and processes to fulfill role.
27. Ensures that all KPIs (Key Performance Indicators) meet and exceed the minimum
standards.
28. Adhere to the contents of the Operating Procedures Manual (OPM) and the Company’s
overall internal procedures and policies.
29. Nil E&Os.
30. Miscellaneous tasks within the scope of work, as assigned by the direct manager.
Job Details
| Posted Date: | 2018-11-15 |
| Job Location: | Manama, Bahrain |
| Job Role: | Management |
| Company Industry: | Management |
Preferred Candidate
| Career Level: | Management |
APPLY NOW
more Latest Bahrain Jobs
