Reinsurance Expert

Background
The Common Market for Eastern and Southern Africa (COMESA) is a regional grouping of twenty one African States which have agreed to cooperate in the development of their respective economies through regional integration and trade development.

COMESA’s regional integration strategy is based on the setting up of regional policies aimed at transforming the region into a single market and facilitating the integration of its member stales into the world economy.
The Preferential Trade Area (PTA), COMESA’S predecessor, established, by a Protocol a compulsory Third Party Motor Vehicle Insurance (Yellow Card) Scheme to provide at least a minimum guarantee, as those required by the laws enforce in the territories of the parties to the Protocol, when the vehicle insured are transiting the territories of other contracting parties, thereby facilitating the smooth movement of vehicles in the Region and ensure payment of compensation to road accident victims injured by the transiting vehicles.

Applications are invited from suitably qualified and experienced professionals for the following two positions:

JOB DESCRIPTION: REINSURANCE EXPERT

Job Title: REINSURANCE EXPERT
Grade: P3
Duty Station: Lusaka
Report To: : Senior Insurance Expert – Council of Bureaux Secretarial
Basic Salary Scale : COMS 52,218.00 – COM$64,181.00 per annurn.

JOB PURPOSE
The Reinsurance Expert shall be responsible for the management of an effective implementation of the COMESA Yellow Card Scheme (the Scheme) under the Council of Bureaux Secretariat. She/He will preside over the implementation of policies, procedures, and guidelines for the Scheme. She/He shall ensure proper implementation of Yellow Card Scheme in relation to administrative, technical, risk management and reinsurance activities.

National Bureau of Malawi
Sir Glyn Jones Avenue, MPICO House, Ground Floor, P.O Box 1021, Blantyre, Malawi Telephone/Fax: +265(0) 1835169, Cell + 265 (0) 838 307035

MAIN DUTIES AND ACCOUNTABILITIES

Under the dired supervision of the supervision of the Chief Executive Officer for the following duties, Senior Insurance Expert and the general the incumbent of the post shall be responsible

• Assist in the implementation and coordination of the Scheme in the Countries.
• Assist with reviewing of the Pool Managers reinsurance structure and solkiting of competitive reinsurance terms for the Common Excess of Loss reinsurance treaty.
• Facilitate Reinsurance Pool Coordination by managing the interaction between the National Bureaux and the Reinsurance Pool.
• Undertake studies to support product enhancement of the Yellow Card Scheme.
• Assist with developing and implementing of marketing activities of the Yellow Card Scheme business.
• Undertake review of the key performance indicators of the Pool Managers on a quarterly basis.
• Facilitate investigations of claims reported by the National Bureaux and provide necessary technical guidance.
• Assist with the review of the Yellow Card Scheme implementation by National Bureaux, and enforcing compliance with guidelines from the relevant instruments and inter-bureaux agreement
• Prepare technical reports on the performance of the reinsurance Pool as input to financial reporting.
• Undertake the monitoring and evaluation of the key performance indicator as guided by the Yelow Card Scheme strategic plan implementation.
• Undertake annual technical training of National Bureaux staft on underwriting and daims management of the Yellow Card Scheme.
• Assist with the review of the adequacy and competitiveness of the National Bureaux rating structure of the Yellow Card Scheme.
• Undertake review of National Bureaux risk appetite and determination of optimal retention capacity.
• Assist with the implementation, monitoring and evaluation of institutional risk management by National Bureaux and other stakeholders.
• Collaborate with stakeholders to detine and provide business requirements for enhancements to the Digital Yellow Card (DYC) system, ensuring alignment with Reinsurance Pool operational needs and user expectation.
• Any other related duties as assigned by your supervisor, from time to time.

PERSONAL SPECIFICATION

Education / Professional Qualifications

The candidate must:

• Have at least a bachelor’s degree in either Insurance and/or Risk Management, Quantitative Studies, Commerce or Business Studies. A holder of internationally recognized professional Insurance qualification e.g., Associateship of the Chartered Insurance Institute (ACI)/Fellow of the Insurance Institute of South Africa (FISA).
• Equivalent and internationally recognized qualifications for Francophone countries should be considered. A Masters Degree in any of the above fields will be an added advantage.

Experience

• Have at least 8 years’ experience in reinsurance field, five of which should be at middle management level. Experience in Regional Integration Issues would be an added advantage;
• Have experience and exposure to regional conference procedures.

Technical skills

• Strong interpersonal and communication skills and the ability to work effectively with a wide range of constituencies in a diverse community.
• Demonstrated professionalism in reinsurance and risk management.
• Excellent planning, organizational, analytical, and decision-making skills.
• Excellent and proven experience in management, and firm belief in teamwork.
• Up-to – date computer literacy.

GRADE AND PERIOD
The Post shall be a professional category at P3 level and a regular post under Council of Bureaux Secretariat established professional staff contracts.

REMUMERATION
Remuneration will be in accordance with the Council of Bureaux Secretariat Conditions of Service for established Professional Staff.

LANGUAGES
Applicants must be fluent in English, a working knowledge of French, will be an added advantage.

PERIOD OF APPOINTMENT
The Incumbents of the two posts will be appointed for a period of tour (4) years and shall be eligible for re-appointment subject to satisfactory performance.

ELIGIBILITY FOR APPLICATION
The position is open to qualified applicants who are from the following eligible Yellow Card Scheme Participating Member Countries: Burundi, DR Congo, Djibouti, Eritrea, Ethiopia, Kenya, Malawi, Rwanda, Sudan, Tanzania, Uganda, Zambia, and Zimbabwe.

MODE OF APPLICATION
All applications MUST be submitted to the National Bureaux of Yellow Card Scheme of the respective Member Countries stated above under Clause H, on the prescribed COMESA APPLICATION FORM which can be accessed at the following COMESA website https://www.comesa.int/comesa-job-application-forms/

Applications submitted directly to the Secretariat will not be considered and only short listed candidates will be contacted.

FINAL DATE FOR RECEIVING APPLICATIONS BY YELLOW CARD SCHEME NATIONAL BUREAUX

Applications must reach the National Bureaux of the Respective country by 21st January 2025.

FINAL DATE FOR RECEIVING APPLICATIONS FROM NATIONAL BUREAUX BY COUNCIL OF BUREAUX SECRETARIAT.

All applications should be sent to the following address:

The National Coordinator
National Bureau of Malawi
Namiwawa Sir, Glyn Jones 63/43
P.O Box 1021
Blantyre
Or Email: dtkasonda@yahoo.co.uk or insurancesecretariatmw@gail.com