Deputy Manager - Reinsurance (FAC)

Department:

Total Work Experience:

Education:

Job Purpose:

To manage and execute facultative reinsurance operations for both inward and outward placements across all Lines of Business (LOB), ensuring optimal risk coverage, regulatory compliance, and efficient coordination with internal and external stakeholders.

Key Responsibilities:

FAC Outward:

• Negotiate and arrange facultative reinsurance placements for risk coverage across all LOBs.
• Identify, develop, and maintain strong relationships with reinsurers and brokers for each LOB.
• Ensure timely and accurate documentation and execution of outward reinsurance contracts.
• Review reinsurance covers to identify and report discrepancies in coverage terms and conditions.

FAC Inward:

• Liaise with reinsurance brokers and insurance companies to acquire new facultative inward business and manage renewals.
• Coordinate with underwriting teams to confirm risk acceptance and bind coverage with insureds directly or via brokers.
• Ensure proper documentation and compliance for inward reinsurance contracts.

Operational Monitoring & Compliance:

• Monitor collection and payment of premiums and GST for both inward and outward reinsurance.
• Track claims recovery and coordinate with lead reinsurers for Probable Maximum Loss (PML) guidance.
• Perform GST reconciliation and ensure timely payment/collection.
• Prepare and submit compliance-related documentation as per regulatory requirements.
• Handle internal and external audits related to facultative reinsurance operations.

Specialized skills, competencies, qualifications and experience:-

Qualifications & Experience:

• Bachelor’s degree in Insurance, Finance, or related field (Master’s preferred).
• Minimum 3–6 years of experience in reinsurance underwriting, with a focus on facultative placements.
• Strong understanding of insurance and reinsurance principles, regulatory frameworks, and market practices.

Skills & Competencies:

1. Excellent negotiation and relationship management skills.
2. Strong analytical and problem-solving abilities.
3. Proficiency in MS Excel and reinsurance management systems.
4. Attention to detail and ability to manage multiple tasks under tight deadlines.
5. Effective communication and interpersonal skills.