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Retail Technical Functions, Retails Pensions Operations,

Britam is a leading diversified financial services group, listed on the Nairobi Securities Exchange. The group has interests across the Eastern and Southern Africa region, with operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The group offers a wide range of financial products and services in Insurance, Asset management,

Retail Technical Functions Reinsurance Associate

Job Purpose:
    

  • The job holder shall look after the various reinsurance arrangements including treaty and facultative reinsurance protection for Life business (Ordinary life, Group Life, Credit Life and Sacco Business) written by the company in Kenya. 
  • Assist in implementation of the company’s reinsurance programme based on overall company’s objectives and maintain a business relationship with the Company’s underwriting and finance department and with the local, regional and international reinsurance market.

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Key responsibilities

  • Analyze the risks accepted and ensure risks are ceded properly.
  • Ensure that all acceptances are protected by proper reinsurance arrangement on a back to back basis without any gaps in risks accepted and reinsurance protection availed.
  • Obtain all necessary underwriting information required to place the risk in the local reinsurance market. 
  • Assist in arranging proper reinsurance protection as and when required. 
  • Place reinsurance directly to the market or through the broker whether on facultative or any other basis depending on the need of the situation.
  • Assist in the administration of the reinsurance program.
  • Ensure timely submission of closing and accounting documents as well as for settlement of premium recovery of claims from reinsurers.
  • Ensure accuracy of reinsurance contract with reference to original terms at which reinsurance is accepted.
  • Maintain efficient communication lines between the company and brokers. 
  • Prepare reinsurance underwriting and claims statistics on a regular basis and update the same at periodic intervals as per requirement.
  • Review reinsurance payments/recoveries relating to reinsurance premium, commissioning and claims.
  • Premium adjustments and returns 
  • Ensure prompt claims recovery 
  • Liaise with intermediaries and direct clients on issues relating to their policies for Group Life, Credit Life and Sacco business.
  • Liaise internally with other members of the team to ensure effective and efficient execution of client’s requests
  • Delegated Authority:  As per the approved Delegated Authority Matrix
  • Collate underwriting requirements and request for quotations
  • Discuss the Projections with Reinsurers and ask for quotes
  • Negotiate Treaty Terms
  • File Treaties and other Reinsurance Arrangements with IRA
  • Update Treaties in the insurance system
  • Facilitate Facultative agreements for the identified risks
  • Underwriting of New Group life and Credit Life Business
  • Underwriting of renewal business for Group life and Credit Life
  • Perform any other duties as may be assigned from time to time

Knowledge, experience and qualifications required

Knowledge, experience and qualifications required
1. Business related University Degree – insurance, statistics, accounts preferred 

2. Professional Insurance qualification, (FLMI,CII OR IIK) – progress 

3. Must have a minimum of 3 years’ experience in the reinsurance field.

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4. Knowledge of Reinsurance Treaty, Facultative wording and Reinsurance Slips preparation a must 

Retail Pensions Operations Associate

Job Purpose:
To run with the day-to-day administration of individual retirement plans and individual retirement income products.

Key responsibilities

  • Prepare and issue of periodic member benefit statements i.e annual, monthly or quarterly;
  • Prepare and file returns with KRA, RBA and other regulators within statutory deadlines such as investment returns, contribution returns and tax returns;
  • Prepare and file Scheme Financial statements;
  • Present scheme financial statements to the Board of Trustees;
  • Accurately process and settle member benefits within the agreed timelines;
  • Prepare pensioners payrolls, commissions, expenses within the set turnaround times and regulatory deadlines;
  • Prepare and facilitate SMS payment confirmations to retirees;
  • Approve payments in line with the Delegation of Authority Matrix;
  • Promptly identify funds, receipt and accurately allocate to member accounts within set timelines;
  • Liaise with Policy Administration regarding  Check off and Direct Debit contributions for retail customers;
  • Prepare and submit direct debit collection files to the DDA Team within the agreed turnaround times;
  • Ensure communication to DDA customers for any rejected cases on a timely basis;
  • Continuous suspense management in line with receipting and suspense management policy;
  • Ensure on boarding of new customers into Fundmaster within set timelines and laid out compliance guidelines;
  • Prepare and submit welcome calls data for the retail customers;
  • Carry out continuous end to end reconciliations of receipts, payments and balances within set deadlines;
  • Carry out bank reconciliations;
  • To work with Marketing and Customer Retention Functions in developing customer communications including organizing client’s briefings and trainings as required;
  • Prepare productivity and other management reports, including scheme reports such as administration, investment reports;
  • Prepare and issue monthly reports to Actuarial Function on Deposit Administration and Retirement Income products within agreed timelines;
  • Convene and attend Board of Trustee Meetings, Annual General Meetings and Member Education trainings;
  • Train Front office staff to empower them in handling of retail pension clients;
  • Carry out continuous data cleansing of retail pension customers’ information;
  • Coordinate scheme and internal company audits;
  • Actively participate in initiatives geared towards sign up of customers in the portal and mobile applications;
  • Responding to client queries promptly;
  • Perform any other duties as may be assigned from time to time

Knowledge, experience and qualifications required

  • Bachelor’s degree in a business- related field
  • Professional qualification in Pension Management or any other relevant qualification such as CPAK;
  • Knowledge of legislation governing Retirement Benefits and Insurance in Kenya;
  • Knowledge of MS Excel

Document and Data Operations Associate

Job Purpose:

The role of the DDO Associate will be to:

  • Provide prompt, efficient and effective operational support by entering into LOB systems requisite customer and related product information as per given documentation, performing verification and quality assurance of customer data & information on the customer record and CRM data
  • Manage and maintain all company’s physical documents and records
  • Co-ordinate activities and support services within the Registry function
  • Give effective supervision to the outsourced registry assistants
  • Scanning, assembling and franking of policy documents and dispatch process

Knowledge, experience and qualifications required

  • Bachelor’s degree in a business-related field
  • At least 2- 4 years’ experience in a similar position

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Posting Date: : 25-10-2021

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