IBA Reinsurance Finance Manager

at  Lockton Inc

Working at Lockton
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.
Business unit
Dubai
Schedule
Full Time Permanent
Job type
Experienced Professional
Workplace
Hybrid
Your Responsibilities
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented, and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.
The role of a Reinsurance Finance Manager typically encompasses a range of responsibilities related to overseeing the financial operations within the reinsurance department.

EDUCATION AND EXPERIENCE

• 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.

REINSURANCE KNOWLEDGE

• 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.

LANGUAGE SKILLS

• 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.
  Equal Opportunity Statement
  Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.
  At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences. As such, we recognize that recruiting, developing and retaining people with diverse backgrounds and experiences is vital and enabling our people to thrive personally and professionally is critical to our long-term success.
  About Lockton
  Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day.
  At Lockton, we believe in the power of all people. You belong at Lockton.
  How We Will Support You
  At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.
  We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.
  No Agencies Please
  Any Employment Agency, person or entity that submits an unsolicited resume to this site does so with the understanding that the applicant’s resume will become the property of Lockton Companies, Inc. Lockton Companies will have the right to hire that applicant at its discretion and without any fee owed to the submitting Employment Agency, person or entity. Employment Agencies, who have fee Agreements with Lockton Companies must submit applicants to the designated Lockton Companies Employment Coordinator to be eligible for placement fees

• 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.
  Qualifications