Senior Executive - Special Projects and Development - Union Assurance PLC Colombo 03

About the job

Union Assurance is a leading corporate and the fastest growing entity in the Life Insurance industry, backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka's largest conglomerates.

The Job:

The person will be responsible for the reinsurance operations by assisting with contract processing, data analysis, compliance, stakeholder communication, and reporting, ensuring accuracy, timely execution, and alignment with regulatory standards.

Principal Accountability:

• Assist in the preparation and processing of reinsurance contracts and related documents and conduct data entry and analysis to support the Reinsurance Associate in the decision-making process
• Perform calculations and assist with pricing and rating activities as required.
• Review and verify reinsurance data to ensure accuracy and completeness
• Maintain accurate and up-to-date records of reinsurance activities and prepare reports and presentations as required for management and other stakeholders
• Respond to inquiries and requests for information from internal and external stakeholders
• Coordinate and communicate with other departments as necessary to support reinsurance activities
• Ensure compliance with internal policies and external regulations related to reinsurance
• Conduct research and analysis to support decision-making in the reinsurance function
• Identify and escalate issues or concerns to the Reinsurance Associate for resolution
• Work collaboratively with other team members to achieve departmental goals
• Stay up to date with industry trends and changes in regulations related to reinsurance
• Ensure timely and accurate processing of reinsurance transactions and requests
• Assist with ad hoc projects as assigned and undertake any other duties and responsibilities as assigned by the supervisor

Qualifications and Experience:

• Bachelor’s Degree in Insurance/Business Administration or Management from a recognized University/ Institute
• Minimum 3 -5 years of previous experience in operations from the Insurance industry or a related field.
• CIP - SLII or Part / Full Qualification in Dip -CII / AIII is essential
• Good understanding and knowledge about competitor products and practices, trends & developments in the life insurance market in Sri Lanka
• Fair understanding of reinsurance arrangements and the regulatory framework of the Insurance industry
• Broad knowledge of Microsoft Office applications
• Ability to work under minimum supervision, multitask, and work under pressure
• A self-motivated individual as well as a team player.