IBA Reinsurance Finance Manager

Lockton Companies

Jan 5

Applications are closed

Job
Full-time
Senior & Expert Level
Accounting & Tax
Banking & Finance
Dubai

Requirements

A bachelor's degree in finance, accounting, or a related field is usually required. A master's degree or professional certifications (such as CFA or CPA) is preferred.
Experience in the reinsurance industry is essential, preferably in a finance or accounting role. Knowledge of reinsurance principles, contracts, and regulations is required.
Strong financial analysis and reporting skills, including experience in preparing financial statements, budgeting, forecasting, and variance analysis.
Proficiency in interpreting financial data, identifying trends, and providing insightful recommendations to senior management.
Familiarity with reinsurance accounting practices, such as IBNR (Incurred But Not Reported) reserves, premium recognition, and loss reserves.
Possess strategic thinking skills to align financial goals and initiatives with the overall business strategy. Ability to contribute to the development of long-term financial plans and provide high-level analysis.
Experience in conducting financial modeling, scenario analysis, and risk assessment to support decision-making processes.
Aptitude for identifying opportunities for process improvement and implementing effective financial controls.
Proven leadership skills, including the ability to effectively manage and develop a finance team.
Strong communication and interpersonal skills to collaborate with cross-functional teams and build relationships with key stakeholders.
Experience in setting performance goals, providing feedback, and fostering a positive work environment.
In-depth understanding of reinsurance concepts, terminology, and best practices.
Familiarity with reinsurance contracts, treaty structures, and related documentation.
Knowledge of industry regulations, compliance requirements, and reporting standards specific to reinsurance across the region.
Experience in generating various financial reports, including monthly performance reports, aging reports, and strategic reports, is important.
Excellent interpersonal and communication skills are essential for building and maintaining relationships with top cedants and insurers. The ability to negotiate and collaborate with key stakeholders is crucial in the reinsurance industry.
Proficiency in relevant languages, such as English and Arabic, is typically required. Additional language skills, especially in French, may be preferred for international organizations with diverse operations.

Responsibilities

Financial Management: Overall financial management of the reinsurance function. This includes budgeting, forecasting, financial planning, and monitoring financial performance to ensure adherence to financial goals and targets.
Team Supervision: Provide daily oversight of the reinsurance finance team. Set key performance indicators (KPIs), establish job roles and responsibilities, and provide guidance and support to team members. They also foster a collaborative and high-performance work environment.
Hands-on Support: Willing to provide hands-on support to the team when needed. This may involve assisting with complex financial tasks, resolving issues, and ensuring smooth operations within the reinsurance finance department.
Reporting and Analysis: Generating and analyzing financial reports; prepare regular reports on financial performance, including year-over-year analysis, results to budget comparisons, aging reports, and strategic reports. Provide insights and recommendations based on the analysis to support decision-making for leadership.
Strategic Collaboration: Works closely with the Chief Financial Officer (CFO) and other senior leaders to develop and implement strategic initiatives. They contribute to the strategic planning process, provide financial insights, and assist in the preparation of high-level strategic reports. They may also collaborate with other departments to align financial goals with overall business objectives.
Process Improvement: Identifying opportunities for process improvement and implementing best practices within the reinsurance finance function is an important aspect of the role. The Reinsurance Finance Manager continually assesses existing processes, systems, and controls to enhance efficiency and effectiveness.
Relationship Building: Building and maintaining relationships with top cedants (primary insurers) and reinsurers is vital. Engage with key clients to understand their financial requirements, negotiates financial terms, and ensures strong partnerships. They may also participate in client visits, meetings, and industry events.

FAQs

What is the location of the IBA Reinsurance Finance Manager position?

The position is located in Dubai, Middle East / North Africa.

What type of work arrangement is offered for this role?

The work arrangement is hybrid, allowing for a combination of remote and in-office work.

What are the primary responsibilities of the IBA Reinsurance Finance Manager?

The responsibilities include financial management, team supervision, hands-on support, reporting and analysis, strategic collaboration, process improvement, and relationship building with clients.

What educational qualifications are required for this position?

A bachelor's degree in finance, accounting, or a related field is required, with a master's degree or professional certifications (such as CFA or CPA) preferred.

Is experience in the reinsurance industry essential for this role?

Yes, experience in the reinsurance industry, preferably in a finance or accounting role, is essential.

What skills are important for the financial expertise aspect of the role?

Strong financial analysis and reporting skills, proficiency in interpreting financial data, familiarity with reinsurance accounting practices, and experience in preparing financial statements are important for this position.

Are leadership and team management skills required for the IBA Reinsurance Finance Manager?

Yes, proven leadership skills and the ability to effectively manage and develop a finance team are required.

What languages are preferred for this position?

Proficiency in English and Arabic is typically required, with additional languages such as French being preferred.

How will this role support the strategic initiatives of the company?

The IBA Reinsurance Finance Manager will contribute to the development and implementation of strategic initiatives by providing financial insights, assisting in high-level strategic reports, and collaborating with senior leaders.

What type of relationship management skills are necessary for this role?

Excellent interpersonal and communication skills are essential for building and maintaining relationships with top cedants and insurers, as well as for negotiating terms with key stakeholders.

Lockton Companies

Finance

Industry

10,001+

Employees

1966

Founded Year

Mission & Purpose

What makes Lockton stand apart is also what makes us better: independence. Lockton's private ownership empowers its 10,750+ Associates doing business in over 140+ countries to focus solely on clients' risk and insurance needs. With expertise that reaches around the globe, Lockton delivers the deep understanding needed to accomplish remarkable results.