Facultative Reinsurance Back Office Executive

Role & responsibilities

Reinsurance Closings: o Prepare and review reinsurance closing documentation. o Ensure that all facultative reinsurance contracts and policies are accurately recorded and maintained. o Coordinate with underwriting teams to obtain necessary documentation for closing.

➢ SARB System Entry: o Enter facultative reinsurance contracts, premiums, and claims data into the companys system. o Maintain accuracy and completeness of reinsurance data in systems. o Update records as per endorsements, renewals, or any changes in policies.

➢ PPW (Provisional Payment Warranty) Monitoring & Extension o Monitor PPW and manage extensions as needed. o Ensure timely communication with relevant stakeholders on PPW status.

➢ Management Information System (MIS) Reporting: o Prepare and maintain monthly MIS reports to track reinsurance activities. o Ensure that all reports are accurate and submitted on time.

➢ Claims Management: o Monitor, process, and coordinate facultative reinsurance claims. o Liaise with claims handlers, reinsurers, and brokers to ensure timely and accurate claims settlements. o Maintain accurate records of claims, reserves, and settlements in the system.

➢ Regulatory Reporting: o Prepare and submit regulatory (IRDAI/IFSCA) reports related to facultative reinsurance. o Ensure compliance with local and international reinsurance regulatory requirements. o Assist in the preparation of reports for audits and regulatory reviews.

➢ Payments and Settlements: o Process premium payments to reinsurers and handle receivables from cedants. o Ensure accurate and timely settlements of claims and premiums. o Reconcile accounts and manage payment discrepancies.

➢ Communication & Coordination: o Act as a point of contact between internal departments, reinsurers, and brokers for facultative reinsurance matters. o Communicate with external parties to resolve queries related to reinsurance contracts, claims, and payments.

➢ Process Improvement: o Assist in identifying and implementing process improvements to enhance operational efficiency. o Ensure adherence to internal controls and guidelines for reinsurance processes. PLEASE SHARE YOUR CVS ON HEMANT.GULATI@UNISONINSURANCE.NET

Preferred candidate profile

Bachelors degree in Insurance, Business, Finance, or related field.

o 2-4 years of experience in reinsurance operations, preferably in facultative reinsurance.

o Knowledge of reinsurance principles and practices.

o Experience with claims management and regulatory reporting in reinsurance is highly desirable.

Perks and benefits

As per industry standard & GMC, Term Life and Personal Accidental coverage, work from home and other facility