Job Title: Reinsurance and Credit Control Accountant
Organisation: CIC Africa Life Assurance
Duty Station: Kampala, Uganda
About Organisation:
CIC General Insurance Uganda Limited is a subsidiary company of CIC Insurance Group from Nairobi, Kenya that is owned 75% by co-operatives and 25% by individual shareholders. CIC General Insurance (U) is a joint venture of CIC Kenya and the Co-operative movement in Uganda. The company is fully incorporated and licensed to transact General Insurance business. In addition to the General policies available for institutions, corporate, individual and all categories of entities, the Company serves all Co-operative Societies in Uganda along the Co-operative Model.
Job Summary: To accelerate net cash inflow for investment purposes. To ensure that direct and reinsurance debt is maintained at its minimal. To ensure that there is strict adherence to the credit policy and full compliance with the regulations set by the Insurance Regulatory Authority of Uganda.
Key Duties and Responsibilities:
- Compile data and process reinsurance returns on a quarterly basis
- Carry out timely reconciliations with all reinsurers and reinsurance brokers to ensure the timely settlement of reinsurance premiums.
- Coordinate with the claims department to ensure prompt notification and follow-up on claims submitted to treaty and facultative reinsurers, thereby facilitating the timely settlement of claim recoveries.
- Prepare timely and accurate quarterly reinsurance reconciliation statements
- Prepare accurate annual reinsurance returns, including portfolio transfers, withdrawals, and adjustments.
- Monthly review/audit of system reinsurance transactions for accuracy and completeness.
- Client/Intermediary statement reconciliations by ensuring proper receipt allocation/advising the cashier on proper allocations on different endorsements
- Preparation of monthly statements for clients and intermediaries, in collaboration with the underwriting and claims teams, for follow-up collections.
- Providing oversight of the process payments to intermediaries for approval.
- Supervising the cashier and credit control offers to ensure that correct receipting is done.
- Trigger follow-ups on commitments made in approved payment plans.
- Prepare reports on debt collection from lawyers and other debt collectors;
- Reverses bounced cheques and contacts the clients for replacements as and when it arises, and provides a monthly report.
- Check remittances (RTGS, EFT, IPFs) and facilitate receipting within 2 days, and monitor daily receipting and banking of all premiums received.
- Monitor daily receipting and banking of all premiums received
- Sticker and COMESA card reconciliations
- Any other duties assigned by management in line with the task.
Monthly responsibilities:
- Sharing statements with clients and intermediaries.
- Reconciling the above statements and obtaining sign-off by the intermediaries and reinsurers
- Ensuring all premiums are receipted within 30 days
- Ensure allocations are shared with the cashier on the last day of the month for receipting before the period is closed.
Qualifications, Skills and Experience:
- Bachelor’s Degree in Statistics, Actuarial, Finance, Accounting, Business or in a related field from a recognized institution
- A master’s Degree in a business-related field is an added advantage.
- Professional Qualifications and Membership:
- CPA (U), or ACCA, is a must
Experience:
- Minimum of three (3) years’ relevant experience in a similar position
Skills and Attributes:
- Excellent communication and presentation skills
- Problem-solving skills
- Excellent interpersonal skills
- Planning and Organising Skills
- Knowledge of the Insurance Industry and Regulatory Framework
- Good analytical skills
- Computer literate in MS Office and other office applications
- Knowledge of Business Environment
How to Apply:
Submit your application, CV, and copies of your professional and academic certificates as a single document to [email protected]
Deadline: 4th July 2025
NB: Please note that only shortlisted candidates will be contacted.
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Level of Education: Bachelor Degree
Work Hours: 8
Experience in Months: 36