Lead, Reinsurance Accounts & Claim Recovery

Job Description

Title: Lead, Reinsurance Accounts & Claim Recovery

Company Name: Green Delta Insurance Company Limited

Vacancy: --

Age: Na

Job Location: Dhaka

Salary: --

Experience:

• 4 to 8 years
• The applicants should have experience in the following business area(s): Insurance

• Bachelor/Honors

• 4 to 8 years
• The applicants should have experience in the following business area(s): Insurance

The Lead – Reinsurance Accounts & Claim Recovery is responsible for overseeing all financial and operational aspects of Green Delta’s reinsurance portfolio. This includes managing bordereaux preparation, coordinating with local and foreign reinsurers, ensuring timely claim recoveries, and optimizing reinsurance costs to maximize profitability. The role also involves close collaboration with internal teams such as Finance, Underwriting, and Claims to ensure compliance, accuracy, and efficiency across all reinsurance transactions.

Key Responsibilities:

1. Reinsurance Accounting & Reporting

• Prepare and maintain detailed bordereaux for both local and foreign reinsurers.

• Ensure timely recording and reconciliation of all reinsurance premiums, claims, and commissions.

• Ensure monthly reinsurance costs are reported to Finance Department in a timely manner.

• Work with the Finance Department to streamline payment processes for reinsurers.

• Review reinsurance statements and ensure accuracy and alignment with stakeholders.

• Assist in the annual audit process by providing necessary documentation and reconciliations.

2. Claim Recovery Management

• Monitor and track all outstanding recoverable claims from local and foreign reinsurers.

• Liaise with reinsurers and brokers to ensure timely collection of claim recoveries.

• Coordinate with Clams department to accelerate claim settlements.

• Prepare and maintain a detailed claim recovery register and report regularly to management.

3. Reinsurance Cost Optimization

• Analyse reinsurance costing and evaluate the profitability impact of various treaty and facultative arrangements.

• Support management in negotiation and renewal of reinsurance treaties to achieve optimal pricing and terms.

• Provide insights and data analytics to support strategic reinsurance decisions.

4. Coordination & Communication

• Serve as the primary liaison with local and international reinsurers, brokers, and internal departments.

• Ensure timely exchange of data (e.g., policy details, claims information, and financial summaries).

• Collaborate with the Underwriting and Claims teams to maintain data integrity and compliance with regulatory guidelines.

5. Compliance & Governance

• Ensure all reinsurance transactions are compliant with IDRA regulations and internal policies.

• Maintain proper documentation and audit trails for all reinsurance contracts and claims.

• Support periodic internal and external audits related to reinsurance operations.

Key Skills & Competencies:

• Strong communication and negotiation skills for dealing with reinsurers and brokers.

• Excellent analytical and problem-solving abilities.

• Proficiency in Microsoft Excel.

• Knowledge of reinsurance accounting principles and regulatory guidelines will be beneficial.

• Attention to detail and ability to manage multiple deadlines.

What’s in It for You:

• Competitive Salary - We value your time & talent.

• Provident fund & Gratuity – Supporting your financial future.

• WPPF – Your hard work, your rightful share.

• Performance Bonus – Your achievements deserve recognition.

• Festival Bonus – We want you to have a seamless celebration.

• Life Insurance & Health Insurance – Your well-being is our priority.

• Annual Performance Appraisals – We're committed to your growth.

• Gym Facilities - Stay healthy and energized with access to our in-house fitness center at Head Office.

• Employee Pick & Drop – We’ve got your commute covered.

• Work hard, play hard - Work- life balance and a friendly corporate environment.