Malaysian Reinsurance Berhad Hiring! Full Time Executive - Claims in Federal Territory - Ricebowl

Job Purpose

The role is responsible for computing and compiling accurate accruals of retrocession/retrotakaful claims recoverable and reinstatement premiums for submission to the Finance, Retrocession and Actuarial Services Department; preparing and submitting timely claims recovery notifications to brokers and reinsurers; producing statistics and renewal information for the Retrocession Programme; monitoring retrocession recovery reports in collaboration with the Finance team to strengthen the credit control process; responding promptly to queries from brokers and reinsurers while ensuring timely turnaround; spearheading the computerisation of departmental business requirements to enhance system efficiency; and carrying out any other duties or responsibilities assigned by Management from time to time.

Job Responsibilities

Policy & Planning

• Perform the Department’s “User Acceptance Test” (UAT) for the computer system when the department is involved and report findings to the Supervisor.

• Anticipate the reporting requirements of the department and allocate time to implement the above.

Operational Delivery

• To prepare Balance XL including Reinstatement Premium for losses affecting XOL in compliance with Finance’s deadline.

• To prepare cash call XOL Reinsurers (if any) of losses exceeding the limit specified for retrocessions programmes.

• To prepare loss updates and notify XOL Reinsurers of losses exceeding the limit specified for retrocession programmes.

• To prepare statistics report for renewal of retrocession programs, rating agencies, board paper etc.

• Ascertain/prepare outstanding loss information on Retro programmes for commutation and scheme of arrangement.

• Analyze the underwriting result for claim recovery.

• Support the Head of Unit/ Department in claim recovery process enhancement / corporate initiatives and contribute to ensuring the projects meet the objectives and stipulated timeline.

Job Requirements

• Bachelor’s in insurance, Mathematic, Actuarial Science or any other related studies.
• DMII, AMII, Any Other Related Insurance Professional Qualification
• Minimum of 3 years working experience in related field/industry
• Knowledge of Insurance and Reinsurance
• Knowledge of the Company and its Business