Assistant Manager – Retakaful

ABOUT THE COMPANY

Kenya Reinsurance Corporation Limited (Kenya Re) is the oldest Reinsurer in Eastern and Central Africa.

JOB SUMMARY

Requirements / Person SpecificationsAcademic QualificationsFor appointment to this grade, an officer must have:Bachelor’s Degree in any of the following disciplines: Insurance, Actuarial Science, Strategic Management, Project Planning and Management, Economics, Statistics, Commerce, Business Management, Mathematics, or an equivalent qualification from a recognized and accredited institution.Master’s Degree in any of the following disciplines: Insurance, Actuarial Science, Strategic Management, Statistics, Project Planning and Management, Economics, Business Management, Mathematics, or an equivalent qualification from a recognized and accredited institution.Professional QualificationsThe officer must have:Diploma in Insurance (IIK) or Diploma in Chartered Insurance Institute (CII);Advanced Chartered Insurance Institute (ACII) will be an added advantage;Membership to the Insurance Institute of Kenya (IIK) or an equivalent professional body and in good standing;Knowledge of Retakaful operations and Sharia-compliant insurance principles will be an added advantage;Proficiency in computer applications; andFulfilled the requirements of Chapter Six of the Constitution of Kenya.ExperienceThe officer must have:At least twelve (8) years of relevant work experience, three (3) of which must have been in a supervisory position;Demonstrable experience in team leadership, stakeholder engagement, and operational coordination within insurance, reinsurance, or Retakaful environments.Other RequirementsThe officer must possess:Excellent interpersonal and communication skills;Strong planning, organizing, problem-solving, and decision-making skills with the ability to work under pressure and meet deadlines;Strong analytical, report writing, and presentation skills;Team leadership and collaboration skills; andKnowledge of auditing concepts, governance principles, internal controls, and risk management practices.

RESPONSIBILITIES

Financial Processing & ReconciliationsSupport the timely release of retained premiums, loss reserves, and related returns to cedants and brokers in line with Retakaful principles.Ensure accurate and timely raising, processing, and reconciliation of Monthly Debit/Payments (MDPs), premium adjustments, profit commissions, reinstatement premiums, and other treaty/facultative transactions.Process recoveries from reinsurers and retrocessionaires while ensuring all balances due to and from Kenya Re are accurately captured and reconciled in the system.Monitor and manage runoff accounts, outstanding balances, and facilitate timely settlement of obligations.Business Analysis & Underwriting SupportAnalyse and process inward international treaty and facultative business (new and existing).Review and validate treaty slips, determine acceptance shares, and ensure accurate and timely generation of confirmations.Analyse facultative offers, treaty technical statements, and quarterly returns submitted by ceding companies.Provide technical support and advisory services to cedants and brokers on Retakaful and reinsurance matters.Account Management & Debt CollectionConduct regular reconciliation of cedant and broker accounts, follow up on outstanding balances, and drive timely debt collection.Prepare weekly debt and performance reports for Management.Liaise with Finance to confirm balances and ensure prompt settlement of accounts.Compliance, Reporting & Sharia GovernanceServe as Secretariat to the Sharia Supervisory Board — preparing agendas, reports, minutes, and tracking implementation of resolutions.Ensure full Sharia compliance across underwriting, claims, investments, product development, and all Retakaful operations.Review the accuracy and integrity of financial and technical reports generated from the Reinsurance System.Monitor compliance of ceding companies with Kenya Re’s submission and reporting requirements.Stakeholder Engagement & Additional DutiesSupport stakeholder awareness initiatives, including the Yellow Card Scheme where applicable.Participate in quarterly treaty confirmations, renewals, and compulsory share validations.Prepare periodic management and statutory reports on Retakaful operations.Perform any other duties as may be assigned from time to time.

REQUIRED SKILLS

Handling claims, Underwriting business, Audit (internal), Decision making

REQUIRED EDUCATION

Bachelor's degree